Daily Brief Australia: DroneShield Ltd, Tyro Payments, Amaero International Ltd and more

In today’s briefing:

S&P/ASX Index Rebalance Preview (Sep 25): Potential Changes if Methodology Is Updated
Tyro Payment (TYR AU) Fielding Offers. Again.
Amaero International Ltd – Scaling revenue in H1 FY26, guidance reaffirmed

S&P/ASX Index Rebalance Preview (Sep 25): Potential Changes if Methodology Is Updated

S&P DJI have proposed methodology changes to the S&P/ASX family of indices to enhance representativeness and more quickly reflect changing market conditions. The consultation conclusions could be announced next week.
The updated methodology could lead to 51 changes across the family of indices with implementation on 19 September. There will be a large impact on a number of stocks.
The forecast adds have outperformed the forecast deletes over the last several months and near-term performance has been spectacular for the S&P/ASX 200 (AS51 INDEX) and S&P/ASX 300 Index changes.

Back in January 2023, point-of-sale payments play Tyro (TYR AU) provided Potentia with due diligence to “enable Potentia to develop a significantly improved proposal“. Potentia walked away from talks in May.
Then crickets. Yesterday (12th August), Tyro’s shares gained 10.6%. After announcing this morning it has received unsolicited NBIOs, shares gained a further 8.6% (as I type), touching a 17-month high.
At A$1.17/share, Tyro is ~27% adrift of Potentia’s last confirmed indicative Offer.

Amaero Ltd (ASX:3DA) is a global specialist in advanced materials manufacturing for the defence, aerospace and other industrial sectors, developing a critical metals alloy powder manufacturing facility in Tennessee, USA.
The company provided a trading update to the market on 13 August in which it announced Q1 FY26 revenue would be approximately $5.5m, an increase of 560% on Q1 FY25 and that 90% of planned Q2 FY26 revenue had already been contracted.
Amaero also reaffirmed its previous guidance that it expects significantly scale revenue in FY26 and to achieve EBITDA positive in FY27.

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