Tyro chairman David Thodey says the board has to act in the interests of all, not just those who bought in at the IPO as he takes aim at Mike Cannon Brookes’ Grok Ventures.
for the payments fintech, saying it must act in the interests of all investors as Mike Cannon-Brookes’ Grok Ventures vented its frustrations.
“The board has only tried to do what it’s paid to do, which is represent all shareholders,” Mr Thodey said. “Grok joins a growing chorus of Tyro shareholders who are publicly dismayed at the board’s refusal to engage, including Wilson Asset Management, QVG and Harvest Lane. Together, this represents almost 20 per cent of the register,” it said.
At the same time, Tyro said it would pursue its organic growth strategy and not allow Potentia in the door, even with a 26 per cent improvement in its initial offer from $1.26 to $1.60 a share.
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