공시 • Jun 25
Cuscal Limited Announces Change of Company Secretary, Effective July 1, 2026 Cuscal Limited announced the appointment of Ms. Manell Saad as Company Secretary of Cuscal, effective July 1, 2026. Ms. Saad’s appointment followed the resignation of Ms. Freya Smith as Company Secretary of Cuscal with effect from July 1, 2026 following a change in Ms. Smith’s role. Ms. Saad will be responsible for communications with the ASX in accordance with ASX Listing Rule 12.6. 공시 • Jun 24
Cuscal Limited Announces Appointment of Leila Fourie as Independent Non-Executive Director, Effective August 1, 2026 Cuscal Limited announced the appointment of Dr Leila Fourie as an Independent Non-Executive Director, effective August 1, 2026. Dr Fourie was also appointed as a member of the Board Risk Committee and the Board Remuneration and Nominations Committee. Dr Fourie brought over 30 years’ international experience in payments, consulting, investment banking, retail banking, and capital markets. Dr Fourie held Director and senior executive positions of global portfolios, and on South African, Australian, UK, EU, and US boards including as a current Non-Executive Director of the United Nations Global Compact and as the former Group CEO of the Johannesburg Stock Exchange. Prior to that, Dr Fourie was the Managing Director of the Card Division of Africa's largest bank, Standard Bank where she served as Chairman on the board of Diners Club and as a Board Member on Discover’s Chicago-based Diners Club International Advisory board. She also served as the executive responsible for consumer finance at the Commonwealth Bank of Australia; as the New South Wales vice president of the Economic Society of Australia; as a member of the Board Audit Committee of Lifeline Australia; and as CEO of the Australian Payments Network, where she led various transformational initiatives in the payments industry. She held a PhD in Economic and Financial Sciences and won the Economic Society South Africa Founders’ award in 2012 for best master’s economics thesis in the country. She was also a Graduate of the Australian Institute of Company Directors. Dr Fourie was currently based in South Africa. Dr Fourie would stand for election at Cuscal’s 2026 Annual General Meeting. 공시 • May 29
Cuscal Limited (ASX:CCL) completed the acquisition of Paymark Limited from Retail International Holding S.A.S. Cuscal Limited (ASX:CCL) entered into an exclusive arrangement to acquire Paymark Limited from Retail International Holding S.A.S. for AUD 27 million on April 14, 2026. A cash consideration of AUD 27 million will be paid by Cuscal Limited. As part of consideration, AUD 27 million is paid towards common equity of Paymark Limited. The transaction will be financed through equity investment of AUD 33 million. Cash consideration will be funded via an equity raise, comprising a fully underwritten Institutional Placement (Placement) of AUD 30 million. Cuscal will also undertake a non-underwritten Share Purchase Plan (SPP) for up to AUD 3 million, which is expected to cover all transaction costs. Paymark will continue to operate as a standalone business.
The Acquisition will be subject to a mandatory French Works Council consultation process customary for a transaction of this nature. Subject to the completion of the French Works Council process and Worldline exercising the put option under the Put Option Agreement. No Cuscal shareholder approvals are required in respect of the Acquisition and equity raising and all requisite Paymark shareholder approvals have already been obtained. Completion of the Acquisition is expected to occur by June 30, 2026. The Acquisition is expected to be mid-single digit EPS accretive in FY27E and deliver mid-teens Return on Invested Capital (ROIC) in FY27E. Ad of April 24, 2026, Cuscal is pleased to advise that the French Works Council consultation process has successfully completed. Worldline has irrevocably and unconditionally exercised the put option and the Acquisition is expected to complete on 29 May 2026.
Russell McVeagh acted as legal advisor for Worldline IGSA Group S.A. Citigroup Global Markets Europe AG acted as financial advisor for Worldline IGSA Group S.A. Bofa Securities acted as financial advisor for Cuscal Limited. Bell Gully acted as legal advisor for Cuscal Limited.
Cuscal Limited (ASX:CCL) completed the acquisition of Paymark Limited from Retail International Holding S.A.S. on May 29, 2026. Cuscal Limited continues to expect the acquisition to be mid-single digit EPS accretive in FY27 Buy Or Sell Opportunity • May 22
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 17% to AU$4.72. The fair value is estimated to be AU$3.91, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.9% over the last year. Earnings per share has grown by 17%. For the next 3 years, revenue is forecast to grow by 1.9% per annum. Earnings are also forecast to grow by 20% per annum over the same time period. Board Change • May 20
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 1 highly experienced director. Independent Non-Executive Director Peter Wright was the last director to join the board, commencing their role in 2025. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Buy Or Sell Opportunity • May 07
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 19% to AU$4.70. The fair value is estimated to be AU$3.87, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.9% over the last year. Earnings per share has grown by 17%. For the next 3 years, revenue is forecast to grow by 1.9% per annum. Earnings are also forecast to grow by 20% per annum over the same time period. 
