Voss Capital Urges Euronet to Explore Strategic Alternatives
Voss Capital, a significant stockholder of Euronet Worldwide, with beneficial ownership of approximately 4.2% of the Company's outstanding shares of common stock, issued an open letter to the Company's board of directors urging the Board to immediately explore strategic alternatives. "We believe Euronet has built an extremely valuable global financial infrastructure, including proprietary payment rails and last-mile distribution capabilities for money remittance... Despite these proven strengths and enviable strategic positioning, the Company's stock price has underperformed every reasonable comparison over the past 5 years... It is clear to us that this sustained period of underperformance and seeming underappreciation by the market should prompt radical changes by the Company's board of directors and management to attempt to change the faulty narrative around the Company, or at least prompt a tacit admission that the current strategy and investor communications status quo are not working. Unfortunately, the urgency we expected to see does not seem to be manifesting into action. When we engaged with management and the Board this past summer, we were told they generally agreed with the issues we presented and were working on an analyst day in the Fall/Winter of 2025 to illuminate the collective value of their many businesses through a cohesive strategy... To that end, we believe it's the Board's fiduciary responsibility to immediately explore a full range of strategic alternatives. While the public market environment is challenging, recent transaction comparisons suggest there could be material and more certain upside that would be satisfying to the increasingly fatigued long-term shareholder base."
