Wynyard Group capital raising?

[Slam dunk]

Another potential IPO...

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10881694

I don't know any more about this company than I've read this morning in the article above but I thought I'd share for the forum to discuss / contribute to / debate.

QUOTE FROM ARTICLE

A further potential move away from Jade would be a Wynyard stock market listing. Richardson won't comment on this but confirms the board is considering capital-raising options with a decision expected in the next three to six months.
"We are growing quickly in the US and Middle East and at some stage we will need more capital if we want to continue exporting to these markets," he says.

[CJ]

It sounds like it is a former business unit of Jade. Separated out as part of a management buyout???

The question for me would be why didn't Jade retain it?

[Banksie]

The question for me would be why didn't Jade retain it?

"Wynyard is majority-owned by Skipton Building Society, which also has a majority shareholding in Jade." - I think they are just separating the Jade product from the Wynyard product. Given the sensitive nature of the work that Wynyard does this is probably a good thing.

[CJ]

Just had a quick look and the top shareholdings are near identical so maybe they are just gonig for structural separation. If an IPO does come, it will be interesting to see if existing shareholders buy, sell or just get diluted by the new equity.

400 customers, of which some a huge corproates or Governments - looks like an interesting company. I wonder if it is profitable - is it a DIL?

[Banksie]

I suspect this company will be more of a DIL than a XRO. They offer a niche product targeted at large clients and there doesn't seem to be much competition in their field. If their leadership team is good then I think this would be a solid investment.

[CJ]

I suspect this company will be more of a DIL than a XRO. They offer a niche product targeted at large clients and there doesn't seem to be much competition in their field. If their leadership team is good then I think this would be a solid investment.having looked at 1 article and the front page of their website, I tend to agree.

Lets hope they do decide to put this on the NZX and we can do a more detailed review of the prospectus.

[Slam dunk]

http://www.stuff.co.nz/business/industries/8665489/Wynyard-Group-mulls-NZX-listing

[Slam dunk]

http://www.nbr.co.nz/article/wynyard-group-gets-own-board-capital-needs-loom-bd-138626

[Slam dunk]

Little bit more info here

http://www.stuff.co.nz/business/industries/8667642/Security-software-specialist-may-list

[Slam dunk]

Just got a question for the forum - I see we can only purchase shares in this IPO through one of two brokers managing the IPO. However I currently use the do-it-yourself ANZ online service. If I approach one of the brokers managing this IPO and want to purchase shares, do I have to hand over the rest of my portfolio to them as well? Or will I just be able to purchase some of the Wynard shares through them, pay the necessary brokerage fee, and I keep the rest of my portfolio seperate? Also, what are the chances even of me being able to buy some given I'll be a small fish as a new customer to a broker?
Thanks in advance for your insights.

[CJ]

Slam Dunk - I'm not sure, but this illustrates the reason why its useful to have a relationship outside of a discount online brokerage firm.
For those with a big portfolio, this is possible, but for those with a small portfolio, how can we have a relationship with all brokers to ensure we get access. And even then small investors are more likely to miss out even if you are with the right brokerage.

[Slam dunk]

Slam Dunk - I'm not sure, but this illustrates the reason why its useful to have a relationship outside of a discount online brokerage firm.

You may need to email the ANZ folks to see if they can apply on your behalf, or if they can simply get the shares transferred over to you after they list.

Thanks Sparky. I spoke to the ANZ folks and they can't apply on my behalf. They've said I'll have to approach one of the lead brokers. So I'll give Forbar a call and ask the question, but I don't fancy my luck given how small this listing is.

Cheers

[CJ]

Isn't UBS the lead broker on this one?

[Slam dunk]

The way I understand it mate, when we are talking NZ stocks, is that the brokering firm whether it be a DIY online broker like Direct Broking or one of the big brokering houses, only facilitates trades, they do not hold your portfolio. Your actual holdings are with a share registry which in NZ is either computershare or link market services. No matter who brokers your trades your holdings end up with with one of the registries. Therefore in answer to your first question, no, you will not have to hand over your portfolio if you decide to use one of the brokers to get involved in an IPO. Hopefully someone will correct me if I have gotten this wrong though.

In terms of being a small player trying to participate in an IPO, it seems to depend on how big an allocation a broker has. My understanding is they will look after their bigger clients first. E.g. for the SLI IPO I talked to Craigs who I use occasionally and they said "The float has been oversubscribed and I only have stock available for my managed portfolio clients. Even then it’s very limited. You will need to access it via the secondary market on listing. " I'm not sure what the deal is with Wynard, sounded like there wasn't going to be easy for a small player to get involved in though. Best thing would be to give one of them a call and see.

Thanks Tumeric! Appreciate the time you and Sparky have taken to reply. My understanding is that Forsyth Bar and First NZ Capital are the lead brokers on this so I'll call them tomorrow and, assuming I get hold of someone, will report back.

cheers

[Slam dunk]

Isn't UBS the lead broker on this one?

Sorry CJ, after re-reading the nbr article I see you're right - UBS is the lead broker.

That's funny though because the guy I spoke to at ANZ today thought Forsyth Barr and First NZ Capital were.

[Xerof]

Slam dunk, if a broker asks you to hand over your portfolio, call the police, then FMA

Sparky has succinctly explained the benefits of a personal relationship with a broker, and tumeric has nailed how the registry system operates

[CJ]

Turmeric/xerof The broker can hold your shares. ASB holds my shares in its nominee account. I do this to access their margin facility but that is not a requirement. You do pay for it, though I don't really see any value. All mail etc goes to them and they post in on. They then give a monthly summary of holding but no end of year tax report.

My father is with one of the full brokerage firms. Gets a full quarterly summary, tax report etc. I will find out what that costs him when he is back from overseas.

[janner]

For those with a big portfolio, this is possible, but for those with a small portfolio, how can we have a relationship with all brokers to ensure we get access. And even then small investors are more likely to miss out even if you are with the right brokerage.

Interesting subject CJ.. Is a BIG portfolio of more interest to the brokers than an ACTIVE one.. ??

[CJ]

Interesting subject CJ.. Is a BIG portfolio of more interest to the brokers than an ACTIVE one.. ??Would you rather be attacked by one horse-sized duck, or fifty duck-sized horses?

[Banksie]

Prospectus is out:
http://intelligentinvestment.co.nz (http://intelligentinvestment.co.nz/legal/)

[tosspot]

it annoys me that people like us (public investors) aren't allowed to apply for any. as long as they get there money who cares who holds a small amount of shares

[Banksie]

it annoys me that people like us (public investors) aren't allowed to apply for any. as long as they get there money who cares who holds a small amount of shares

My understanding is that this is available to retail investors. There is an application sheet at the end of the prospectus.

Some info from the application


Applications must be for a minimum of 4,000 Offer Shares and, thereafter, in multiples of 500 Offer Shares.


Your Application Form must be received by 5:00pm Friday 12 July 2013

[Banksie]

My understanding is that this is available to retail investors. There is an application sheet at the end of the prospectus.

Sorry my bad - the application needs a broker's stamp.

[Banksie]

Just checked on ASB Securities - they are offering it to their clients. Nothing on Direct Broking yet.

[Baddarcy]

Just checked on ASB Securities - they are offering it to their clients. Nothing on Direct Broking yet.

I emailed them and got the below standard response, sounds like they may have gotten an allocation from somewhere. Thou if they have doesn't that mean that demand hasn't been that great, if it was, wouldn't the lead broker(s) keep it all for themselves?
---
Thank you for your email.

Once we receive the offer document, we will email it to you. We have registered your interest in our system.

Should you have any further queries, please do not hesitate to contact us.

Thank you

Kind regards
---

[Baddarcy]

Just checking, was that a reply from DB or ASB? Cheers.

ASB Securities

[glasszon]

Who's keen in this IPO? I wonder what the scaling would be, market seems to love this type of company at the moment.

[CJ]

Who's keen in this IPO? I wonder what the scaling would be, market seems to love this type of company at the moment.Has anyone read the propectus and got a veiw/questions/anything to share.

I've had a quick look. My main concern is that the "indiciative price range is indicative only" <- seriously, disclaiming a disclaimer.

Their forecast revenue growth while great for the 2013 tapers of to a good 26% in 2014. I am not sure if this is them being conservative but is a bit of a contract to DIL and XRO who dont seem to have hit a limit yet.

Edit: I have just looked at actual numbers (rounded to the nearest m by me) rather than percentages to provide better view:

08A 09A 10A 11A 12A 13F 14F
7m 6m 6m 6m 13m 21m 27m

So while current year revenue growth is expected to be $8m after $6m in the prior year, this drops back to $6m for 2014. It would have been better if they were expecting to maintain at least the $8m revenue growth per year

(from memory DIL has been pretty constant at $7m revenue growth per quarter for the last 5 or so quarters)

[Baddarcy]

Has anyone read the propectus and got a veiw/questions/anything to share.

I've had a quick look. My main concern is that the "indiciative price range is indicative only" <- seriously, disclaiming a disclaimer.

Their forecast revenue growth while great for the 2013 tapers of to a good 26% in 2014. I am not sure if this is them being conservative but is a bit of a contract to DIL and XRO who dont seem to have hit a limit yet.

Yes and it is a fairly broad range too, $1.10 to $1.65 leaves themselves a fair bit of room.

Got the below email from ASB yesterday in response to my interest email

-----
Good Morning,

Thank you for your expression of interest in the Wynyard Group IPO (the ‘Offer’).

Please find attached the Investment Statement and Prospectus for the Offer. ASB Securities recommends that you do not make any decision regarding the Offer until you have read this document thoroughly.

Wynyard Group owns, develops, markets and sells advanced software products and services that help protect companies and countries from global threats, crime and corruption. The Wynyard Group has four core integrated software products, being: Wynyard Risk Management; Wynyard Intelligence; Wynyard Investigations; Wynyard Digital Forensics.

The Wynyard Group was originally but is no longer part of the Jade group. The steps taken to effect the separation of the Wynyard Group from the Jade group are described in section 12 of the Investment Statement entitled “Statutory Information” under the heading “Other Material Matters”.



Wynyard Group are seeking NZ$60 to NZ$65 million.


Key terms of the offer are as follows:



Offer Document Registered: Friday 06 June 2013
Bookbuild: Tuesday 18 June 2013
Pricing and Allocation: Wednesday 19 June 2013
Opening Date: Monday 24 June 2013
Closing Date: Friday 12 July 2013
Allotment Date: Thursday 18 July 2013
Expected NZX Quotation Date: Friday 19 July 2013
Indicative Price Range: NZ$1.10 to NZ$ 1.65 per share
Minimum application amounts: The minimum application amount under the Offer will be an amount equal to the Price multiplied by 4,000 (i.e. 4,000 Shares). Applications must be in multiples of an amount equal to the Price multiplied by 500 (i.e. 500 Shares) thereafter.
Rating: Not Rated


Purpose of the Offer and Use of Proceeds.

The purpose of the Offer is to pay the purchase price to Jade and other Jade subsidiaries for the purchase of the intellectual property rights in the Wynyard Investigations and the Wynyard Intelligence products and rights under contracts with financial service customers and customer contracts for Wynyard Investigations and Wynyard Intelligence entered into pre-2012 (being $23.6 million).



Also to provide Wynyard with $25.8 million to deliver the growth strategy detailed in section 7 entitled “The Wynyard Group and its Business” under the heading “Growth Strategies” and to fund its general corporate purposes and to raise new capital for the Wynyard Group. In addition, if any oversubscriptions are accepted by Wynyard, these proceeds will provide Wynyard with up to $5 million of additional new capital. For further information on the purpose of the Offer and how the proceeds from the Offer will be used, see section 9 of the Investment Statement entitled “Details of the Offer”).



Full details of the offer are contained in the attached Investment Statement and Prospectus.



Please advise us by reply email no later than 5pm Monday 17th June 2013 if you would like to apply for a binding firm bid. Note that if you make a binding firm bid and it is partially (if subject to scaling) or fully successful, you will be contractually obliged to settle the amount required. Let us know if you have any questions around this.



The application form will need to be completed. However, further application instructions will be provided when results of the binding firm bid are known and communicated to you.



The time frame for the Offer is tight. I would, therefore, appreciate your prompt attention. Should you wish to discuss the offer further, please don’t hesitate to call us on 0800 272 872.



-----

[glasszon]

Interesting, I only got the generic reply about noting my interest for the IPO from ASB. I assume they will ask people who have an active trading history to bid first and then open it to others who expressed interest only if there's some left?

[CJ]

I got the same email as Baddarcy - I dont consider my portfolio huge and only do 3or4 trades a year. I do use their margin account though.

[glasszon]

Edit: Please ignore this post, just saw above Baddarcy received the generic email reply yesterday as well, looks like I might have jumped the gun. Maybe they are working through the list to email it to clients.

[glasszon]

I thought moose is putting all the money into SNK already? :p

[Banksie]

Edit: Please ignore this post, just saw above Baddarcy received the generic email reply yesterday as well, looks like I might have jumped the gun. Maybe they are working through the list to email it to clients.

Did you try phoning them?

[Banksie]

Not sure if this has been confirmed already or not, but DB are not involved with this one either. Anyone know if Craigs have any for smaller retail clients?

Turmeric - can you not open an account with ASB Securities? It doesn't cost anything and you can trade you shares through whichever online broker you prefer. (At least that is my understanding of the situation).

[Banksie]

My understanding is that a small retail investor such as myself wouldnt be able to participate in this IPO via ASB...am I right? (I am talking if I were to participate it would not be
in excess of $10k).

I am in the same situation and trying to pin this down. I haven't been told I cannot participate - but also I haven't received the offer documents. I think the others CJ and Baddarcy may be a different "class" of customer to me. I have fired off an email asking for clarification.

[CJ]

I am in the same situation and trying to pin this down. I haven't been told I cannot participate - but also I haven't received the offer documents. I think the others CJ and Baddarcy may be a different "class" of customer to me. I have fired off an email asking for clarification.I have put my hand up for less than $10k. Will let you know how I get on.

I have a diversified portfolio so even $10k is pushing the upper limits of what I would want for a risky growth stock.

[Banksie]

I am in the same situation and trying to pin this down. I haven't been told I cannot participate - but also I haven't received the offer documents. I think the others CJ and Baddarcy may be a different "class" of customer to me. I have fired off an email asking for clarification.

So the response to my email was the Offer documentation as received by CJ and Baddarcy. So I guess I will be able to participate. (Whether or not they allocate me shares is another question :) )

[Baddarcy]

So the response to my email was the Offer documentation as received by CJ and Baddarcy. So I guess I will be able to participate. (Whether or not they allocate me shares is another question :) )

Welcome to the "class" heh heh.

On a serious note it looks more like an admin balls up rather than anything else, I make a few trades but nothing of any great value so doubt very much that I am anything other than one of their standard customers

[CJ]

Man, they have made this a b**** to try and figure out how much you want by making you state how many shares you want instead of a $ amount. Now you have to second guess the (massive) price range, make calculations based on the money you have and do calculations of how much you can cover if you go the greedy or conservative route. Plus, you have to work in 500 share blocks.And remember the indicative range is indicative only. So what happens if it prices at $1.70? Given they take the money upfront (I think) I assume you have to provide number of shares x$1.65 and you will get a refund once the price is determined.

[CJ]

And remember the indicative range is indicative only. So what happens if it prices at $1.70? Given they take the money upfront (I think) I assume you have to provide number of shares x$1.65 and you will get a refund once the price is determined.Correction - For ASB at least, you just have to have clear funds in your account on 24th June after the bookbuild price is determined. They won't take out funds prior.

[Banksie]

Mmhh...one of the independent directors is also a director at Rakon.

[glasszon]

Who's getting into this IPO? Doing my maths now to see how much I should apply for.

[Banksie]

There is also quite a variance in the number of shares they are going to issue:

Indicative number of Shares to be issued by Wynyard: 59.1 million to 39.4 million

(Also with the proviso this indicative number is indicative only ;) )

[CJ]

IPO price Sparky???The risk is the price will be driven less by valuations and more by oversubscriptions.

[TimmyTP]

Im all signed up with ASB now so I now have at least the option of participating. Now time for me to do some resaerch. What are the +s and -s people see in this company to get me started??

I note CJs earlier comments re revenue and clearly the indicative range etc is an issue....
Time to stick my head above the parapet. I read the offer doc yesterday, but don't have it in front of me, so apologies for inaccuracies in this brief opinion:
1. considering their target market, expect long sales cycles, multi-year commitments (as can be seen from some of the press releases) and relatively stable budgets. Even the banking sector budgets could be stable, since it will be boring, reliable compliance people holding the cheque books.
2. around half of their income is in a currency other than NZD or AUD. If you think that GBP and USD will appreciate vs the dollar, implications on NZD revenue are good. AUD could be a downside risk, but this is small potatoes currently.
3. Balance of recurring and non-recurring revenue, with the former increasing.
4. they have some professional services in the mix. Managed well, it can provide valuable feedback to product development, as well as being a rich source of additional revenue.
5. the barriers to entry are high, along with a long sales cycle, the overall number of sales is probably reasonably small (400 customers worldwide right now I recall?). I suppose this has mixed effects for Wynyard, as they are defending their market, but have ambitions for expansion too. My guess is that 2013 sales are pretty much done now; a much smaller proportion of 2014 sales could be considered as high probability just yet.
6. I cannot judge on the validity of their description of the software architecture. They are saying the right things, but I think we would have to find someone with first-hand experience to validate that. trackers, can you offer any insight?

There are people on this forum much better equipped to judge the directors and the value the market might attach to these shares. For me it looks like a long term hold for growth, but I have only applied for 5,000 as I'm chicken about the valuation. I might look to pick up some more on market, depending on how many I am allocated, what happens to the price after the IPO and what I can learn from wise heads here and elsewhere.

[CJ]

Good comments Timmy. A couple of points:

1. Agree
2. While they are making a loss, a falling NZ dollar helps Revenue but hurts profits. I'll call this neutral as no one can ever forecast Forex.
3. Agree
4. -
5. The risk is very long lead time for sales. Once you have a product, you wont be changing for a while. That is a positive if you are the current supplier, not if you are the new boy. You could see this with the likes of Endace which was targeting similar customers. Very lumpy revenue with most sales done prior to year end, or just after (all to do with big govt budgets having to be spent or waiting till next years cycle)
6. -

One extra thing I will point out. They have 4 products, 2 of which are brand new. These should be an easier sale to their existing 400 customers which is a positive in the short term (cross selling an integrated product) and long term (ie. they hve 4 different touch points into a customer, and can cross sell from their).

The key issue is they need to have the best technology - that is what will drive sales and resales. We see this with DIL which has continued growth and very low churn. Given what it is, it will be very hard to get an insight into this (I dont see the CIA doing an advertorial in 'Spys Monthly' on why they chose Wynyard)

[TimmyTP]

I'm still waiting for the offer doc from ASB
Did you take a look at http://www.intelligentinvestment.co.nz (http://www.intelligentinvestment.co.nz/)?

Good points CJ, thanks for those. Especially this one:

Given what it is, it will be very hard to get an insight into this (I dont see the CIA doing an advertorial in 'Spys Monthly' on why they chose Wynyard)

Agree with your comment about the best technology. I think that 4 has a bearing on that - I'll take a guess that the "professional services" people on site have the ability to modify the system to fit local requirements; feeding this back into their product management can be a valuable tool for keeping the product relevant and customers locked in.

Would love to hear from trackers or anyone else who can tell us more about how they and their software operate internally.

[Mista_Trix]

I used to work in the intel community up until very recently and can safely say this was not the software that is/was being used by the sector in NZ or abroad. They will have an interesting time competing with a very strong incumbent.

[Banksie]

I used to work in the intel community up until very recently and can safely say this was not the software that is/was being used by the sector in NZ or abroad. They will have an interesting time competing with a very strong incumbent.

Who is the very strong incumbent?

[Mista_Trix]

Palantir.
http://www.palantir.com/

[Mista_Trix]

The community is by its nature slow to adapt - out of necessity due to the amount of testing that goes on before hand. Given this is the product being adopted from the center outwards, and they've just made the switch, with Palantir teams setting up to push the product into wider government, with endorsement from core Intel agencies. Its the same in the UK. The team has had a rollout plan in place for several years longer than Wynyard, an ear into the core groups, has already rolled out, and has massive amounts of capital behind them.
I really struggle to understand who their market is.

[Banksie]

......at least Greenbour can't sabotage this one!

You might need to retract this comment moosie ;)

[Mista_Trix]

Not yet, but I would imagine any unit with an intel arm would go off the successful recommendation and rollout from the core. Think about intel as being a concentric series of rings; NZSIS, GCSB, NAB (core), then, Police, Defence (sometimes in the core sometimes out depending on investigation), then Customs, Immigration, IRD, then ones like Fisheries on the outer. You're not going to get very far going inwards through that ring from the outside, you've got to capture the core and then move outwards, allowing integration into central data-sets by those more external rings, while still having access controls to limit information. The internal rings already use a system, and it aint Wynyard.

Its not just the software, but also the development of algorithms that allow successful extraction of the specific data trends from meta-data. So any group thats had an opportunity to test on 1. multiple population types, and 2. multiple agency requirements is going to have a greater variety of algorithms on offer, and have an easier time customising them.

[bull....]

not for me , would have preferref to see the most profitabe part transferred to wynyard

[Banksie]

Thanks Sparky.

I think Wynyard can be a good company, but I am not sure it is worth the risk of getting in at IPO time. I will probably just wait and see on this one...which is a real pity cos it was the one IPO I had an opportunity to take part in.

[CJ]

From NBR online (paid content)Thanks Sparky

Dont think this changes anything. They have capitalised the cost of a product and as it doesn't have any revenue yet, there is the potential they will have to right it off. This investment was never going to be valued of its NTA, it will be valued off its revenues, growth profile and costs. The uncertainty on revenue and growth on these two products is the same as before.

The only question it does raise is why their auditors let them capitalise it in the first place. The tax advisors probably outsmarted the auditors : the only benefit in capitalising (that I'm aware of) is that when it does get written off (through depreciation), the benefit of that will flow to new shareholders where if it was deducted up front, the tax losses would potentially be forfeited in the capital raising.

[percy]

Thanks Sparky.

I think Wynyard can be a good company, but I am not sure it is worth the risk of getting in at IPO time. I will probably just wait and see on this one...which is a real pity cos it was the one IPO I had an opportunity to take part in.

I feel much the same.Craigs rang me this morning,but I decided to leave it.
Having to take up EBO issue,and possibily Synlait means funds are short,and Jade has had a bit of a checked history..

[percy]

Checkered history? Do tell...

Great gunna's,guna do this ,guna do that.Peter Hoskyns jumped ship,Gill Simpson was guna do this guna do that.Took on huge number of staff.
Sponsored Jade stadium here in ChCh.Guna take over the world.Ruth Richardson onboard.Staff laid off.Listing of Jade put off.Simpson loses control as the whole lot didn't do this,didn't do that."Trouble at mill">
Ex Reserve Bank Dr,Rod Carr brought on board.Dr.Carr leaves to run the university.
etc.etc.
ps.RR has a proven history of destroying shareholders wealth.Refer Tainted Directors thread.

[Arbitrage]

RR has interestingly been left off the Wynyard board.

[percy]

RR has interestingly been left off the Wynyard board.

Very positive move.!! lol.

[percy]

Getting that "rusty bucket" look.!!!!!

[Banksie]

It would seem that in the $3.6m outlined for listing costs, Wynyard forgot to hire a PR firm.

The Herald article this morning is best described as "less than helpful".

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10890951

Bit of fluff from stuff

http://www.stuff.co.nz/business/money/8796777/Gritty-offer-for-tough-investors

[CJ]

I feel they have stuffed the IPO up trying to airbrush over certain key areasDo you care to elaborate?


and doing the raising ass backwards by giving people bids on number of shares rather than amount of $$$ they want to invest before even indicating a price (leaving you either covering your ass hard if your too aggressive or without as many as you wanted if you are too conservative!).While not a fan of the whole book build thing, I do understand why it is done. Hopefully the institutions get it right.

[CJ]

Wynyard is coming to the market a year earlier than they should be, IMHO.Your probably right. I hope they aren't planning on replicating XRO and DIL and dropping in price after IPO. They should (hopefully) list at the lower end of the range to ensure that doesn't happen.

I dont expect much of a pop and I acknowledge that further fund raising will be required. I hope they dont have to do a down round - that should be their key thought when pricing the IPO.

Disc: I have put my hand up for a small holding.

[TimmyTP]

I have to admit to puzzlement over some of the statements about WYN not being the best of the best, WYN not being profitable and the presence of established competition.

All of those statements are totally valid: this is capital raising to fund development of a business after all, not a SOE float.
I see a venture that needs to buy some IP and other assets as an established base from which to build its business. They need to invest in all the usual things that will enable them to win more contracts and eat into the big boys' % of market share – and they probably will have to come back for more in 2 years' time.

As I understand it, some of the areas that WYN intends to target will require a heap of patience, hard work and expensive dinners. They are highly unlikely to pull the rug from Thomson Reuters or Palantir by Christmas – more likely they will get a chance to prove themselves here and there, long before they could go head-to-head with the big boys.

Possibly the reason I look from this perspective is that I have worked in a company with a similar profile; a minnow when I joined, up against it, building software to sell to huge corporates, competing against the big boys. That firm is now dominant in their niche globally and worth just shy of 200x their listing price. So I know it's possible (if not probable!) and you don't have to start as the biggest, most accomplished or most heavily funded.

All that said, this would be only a small percentage of my portfolio, none of which is funded by any form of debt, nor my last few cents (hence I can bear a range on the IPO price vs a $ amount). This as a long-term, high-risk investment for me, but that's OK because I happen to have room for a bit more of that.

Good luck to everyone, in or out.

[CJ]

All of those statements are totally valid: this is capital raising to fund development of a business after all, not a SOE float.
I see a venture that needs to buy some IP and other assets as an established base from which to build its business. They need to invest in all the usual things that will enable them to win more contracts and eat into the big boys' % of market share – and they probably will have to come back for more in 2 years' time.Arguably they could have done it differently, which would have looked better but had the same result - ie. WYN acquire all the IP from Jade for the issue of shares. An IPO of existing shares by Jade and $26m of new shares. Same result but current method does derisk Jade which I guess was the idea.

[etrader]

Book build closed today and a little negative press by some fundies who clearly weren't getting an allocation might have pushed the price down a little.

Personally I'm hoping to pick up minimum allocation Nd have followed the MD over the years And am happy to back his leadership.

[mcdongle]

Just been told $1.15

[Balance]

I wonder if they have missed the market by 2 months.

This stock in April would have shot up like a rocket. But volatility and nervousness has crept back into investor minds over the last month or so.

Hence the $1.15, rather than $1.60?

[goldfish]

Any word on scaling? Over subscribed much anyone know?

[CJ]

Just been told $1.15
Good price. Hopefully this stock is well supported, they hit their targets, and when the inevitable capital raising does happen, it is an up-round, not a down-round.

[etrader]

Happy that it was prices at the bottom of the book build - institutions have priced it accordingly which will allow for better upside. Have put a few dollars into it and am happy with what they are doing and although jade is taking out a large chunk it is their right to be paid for I.P AND intracompany loans. Jade separated off wynyard due to the sensitive nature of what they do to give a transparent company.

[CJ]

http://www.nbr.co.nz/article/wynyard-shares-list-near-bottom-range-115-bd-141739

No meantion of scaling. Hopefully there is a little bit of demand on IPO.

Edit: No oversubscriptions - http://www.scoop.co.nz/stories/BU1306/S00672/wynyard-group-share-price-set-at-115-after-book-build.htm

[Billy Boy]

https://www.forsythbarr.co.nz/about-us/news-and-events/wynyard-group-initial-public-offering/
BB

[CJ]

https://www.forsythbarr.co.nz/about-us/news-and-events/wynyard-group-initial-public-offering/
BBCan someone interpret this for me. My take is that they applied for a firm commitment, and are now trying to find someone to take these up.

If this is the case, it doesn't sound positive for a IPO pop as I would have thought all firm commitments would have already been allocated.

Edit - just read that they are the joint lead manager. So they set the price even though they didn't have investors asking for those shares?

[Billy Boy]

Can someone interpret this for me. My take is that they applied for a firm commitment, and are now trying to find someone to take these up.

If this is the case, it doesn't sound positive for a IPO pop as I would have thought all firm commitments would have already been allocated.

Edit - just read that they are the joint lead manager. So they set the price even though they didn't have investors asking for those shares?
It's things like the above that have switched me off this IPO
BB

[Baddarcy]

Can someone interpret this for me. My take is that they applied for a firm commitment, and are now trying to find someone to take these up.

If this is the case, it doesn't sound positive for a IPO pop as I would have thought all firm commitments would have already been allocated.

Edit - just read that they are the joint lead manager. So they set the price even though they didn't have investors asking for those shares?

Am i missing something obvious here? I've clicked on the link and it says nothing of what you have said above. I also note that the document is dated the 7th June....

[CJ]

Am i missing something obvious here? I've clicked on the link and it says nothing of what you have said above. I also note that the document is dated the 7th June....My bad - didn't look at the posted date. Assumed it was new and read this part:


The offer for shares is set to open on Monday 24 June and close on Friday 12 July ahead of a Friday 19 July listing on the main board of the New Zealand stock exchange.

You can register your interest by clicking here.

[Baddarcy]

ASB has advised that i got my full allocation, so either their wasn't any scaling or it kicked in higher up. I was only after a small amount thou.

Saw a news article on stuff yesterday too with the following comment in it... why didn't they say things like this to the press earlier??


"The company had a blue- ribbon global customer base and recently signed a long- term contract with the New Zealand Police for its Wynyard Investigator product, which was used internationally by more than 50 agencies ranging from the Australian Federal Police to specialist operations in the United Kingdom and Asia."

[tosspot]

Yea I got my full allocation to but I'm having second thoughts. All I did was email ASB securities I haven't sent in any application forms yet. So does that mean i
can still back out as I just emailed asking for an allocation

[CJ]

ASB has advised that i got my full allocation, so either their wasn't any scaling or it kicked in higher up. There was no overallocation so dont expect a first day pop.


Yea I got my full allocation to but I'm having second thoughts. All I did was email ASB securities I haven't sent in any application forms yet. So does that mean i
can still back out as I just emailed asking for an allocationNot sure on the protocol but would think it would be bad form. Just checked the email I received and replied to a week or so ago. it said:


if you wish to make a firm binding bid, please state the number of shares you wish to apply for.

[Whipmoney]

"Yea I got my full allocation to but I'm having second thoughts. All I did was email ASB securities I haven't sent in any application forms yet. So does that mean i
can still back out as I just emailed asking for an allocation"

Not sure on the protocol but would think it would be bad form. Just checked the email I received and replied to a week or so ago. it said:

It looks like the terms of the offer changed so i'm not sure if it still counts. Might be worth seeking legal advice... if anyone does so let us know the opinion.

[Banksie]

It looks like the terms of the offer changed so i'm not sure if it still counts. Might be worth seeking legal advice... if anyone does so let us know the opinion.

How did the terms of the offer change?

[CJ]

It looks like the terms of the offer changed so i'm not sure if it still counts. Might be worth seeking legal advice... if anyone does so let us know the opinion.I was surprised they didn't send the ammendment prior to the bookbuild. To be honest, I don't think the changes were material, mostly typos. Did you see anythink significant in there - I think the only main one was 2 of the product lines are new so future revenue is uncertain <- doesn't take a genius to work that one out!

[tosspot]

I called them and am legally bound simply from emailing a bid. The thing that pisses me off is that funds have to be in my cash management account by Monday morning and the shares don't go live for nearly a month. its just stagnant cash. even though the offer says money not needed until 12th July ASB says otherwise

[CJ]

The thing that pisses me off is that funds have to be in my cash management account by Monday morning and the shares don't go live for nearly a month. its just stagnant cash. even though the offer says money not needed until 12th July ASB says otherwiseThought that would be the case.

It will be interesting to see if they actually take the funds out or if they just put a hold over it to ensure that you cant take it out.

[Balance]

Full allocation?

Not a good sign.

Better to get 25% of a good IPO than 100% of another one.

[percy]

Getting that "rusty bucket" look.!!!!!

Looks as though it will float like one too.!

[Baddarcy]

I called them and am legally bound simply from emailing a bid. The thing that pisses me off is that funds have to be in my cash management account by Monday morning and the shares don't go live for nearly a month. its just stagnant cash. even though the offer says money not needed until 12th July ASB says otherwise

Hey Tosspot, where did you hear that? I've been through all of the documentation i have received and can't see anything that says the cash must be in my account by Monday?

[CJ]

Hey Tosspot, where did you hear that? I've been through all of the documentation i have received and can't see anything that says the cash must be in my account by Monday?ASB advised that that as well but only in response to a question.

I would have thought funds should only be taken from account just prior to 12 July which is closing date.

[CJ]

REALLY glad I didn't join in now! What a cock-up of an IPO. When something doesn't seem right, go with that gut-instinct!Lets just wait and see. Biggest % gain (or lowest % loss) by year end between WYN IPO price and SNK SPP price.

[tosspot]

Hey Tosspot, where did you hear that? I've been through all of the documentation i have received and can't see anything that says the cash must be in my account by Monday?
When I emailed in the broker responded in with that. and then I called the helpline who went and spoke to her manager and claimed that was the case.

[macduffy]

Just a thought, but I assume that you were acting as a direct participant in the book-build? I've never been involved that way but often by indicating an interest to my broker, subject to reading the investment statement and signing the necessary documentation. Pay a little more for the privilege but it allows a certain amount of leeway!

[tosspot]

So is anyone else going through asb securities and is required to have there funds in there by Monday morning, There taking a while to email back and I have no direct number for anyone important

[G on]

Hi TP. I originally expressed my interest with ASB sec and then followed with emailing back my number of shares I wanted, minimum amount. I have had an email back from ASB sec today to the effect to get the form to them with payment, either cheque or from cash management ac number as soon as possible but not by monday! The last day to get info to the share register is the 12th July so I would have thought plenty of time to organise with ASB and then for them to manage the forwarding of info. If you emailed the amount of shares you wanted ASB Sec to bid for, there was a line that it would be classed as a binding bid so I can't see you actually getting out of paying for the successful share bid. Even if you are later than Monday!!!

[tosspot]

Hi TP. I originally expressed my interest with ASB sec and then followed with emailing back my number of shares I wanted, minimum amount. I have had an email back from ASB sec today to the effect to get the form to them with payment, either cheque or from cash management ac number as soon as possible but not by monday! The last day to get info to the share register is the 12th July so I would have thought plenty of time to organise with ASB and then for them to manage the forwarding of info. If you emailed the amount of shares you wanted ASB Sec to bid for, there was a line that it would be classed as a binding bid so I can't see you actually getting out of paying for the successful share bid. Even if you are later than Monday!!!

yea I eventually got hold of the brokers and they said i can have until next friday to cough up the funds. they were pushing for asap

[Balance]

yea I eventually got hold of the brokers and they said i can have until next friday to cough up the funds. they were pushing for asap

Not surprised. There will be many who are now questioning why they got the full allocation and wanting to pull out?

The brokers have to take the shares themselves and sue clients for any loss suffered. Gains the clients still get to keep!

[percy]

Just a thought, but I assume that you were acting as a direct participant in the book-build? I've never been involved that way but often by indicating an interest to my broker, subject to reading the investment statement and signing the necessary documentation. Pay a little more for the privilege but it allows a certain amount of leeway!

I too register my interest,subject to reading the prospectus.

[etrader]

Article in The Australian about security of infrastructure assets which is one of the areas Wynyard are in - Looks like a good growth area along with protecting fraud in banking industry.

Who has ended up going ahead with buying into the float.
Maybe mistimed the float given the global downturn in the sharemarket.

Timing is everything. SLI got in just in time to have a good stag on day 1.

DYOR

THE systems that run large, critical infrastructure such as electricity, water treatment and traffic control are high-risk targets for cyber attack in Australia, according to industry expert Ernest Foo.

The Queensland University of Technology cyber security expert said existing industrial control systems were not designed to protect against cyber attacks.

[TimmyTP]

THE systems that run large, critical infrastructure such as electricity, water treatment and traffic control are high-risk targets for cyber attack in Australia, according to industry expert Ernest Foo.

The Queensland University of Technology cyber security expert said existing industrial control systems were not designed to protect against cyber attacks.
Wait until Bruce Willis pops his clogs, there will be cyber terrorists all over the show.

I see this as a long-term stock for growth and like how they appear to be structured. No contact from ASB about an allocation though, so it looks like I get to see what happens on the market before I jump in.

[Whipmoney]

I got offered my allocation straight away (From ASB). I'm wondering whether it's based on the amount of trade costs they rake from me as I seem to pay my fair share.

[CJ]

I got offered my allocation straight away (From ASB). I'm wondering whether it's based on the amount of trade costs they rake from me as I seem to pay my fair share.There was no scaling so ASB (and all other brokerages) got everything they asked for.

I got a small allocation. I do wonder if more would have subscribed if Sam Morgan was on the register as in my opinion, this is a better offering than SLI. I am happy it went for the lower end of the range but given no oversubscriptions, I expect it to (unfortunately) go down in the short term.

[tosspot]

ASb just called me and said we can pull out if we want because of the changes from the original but I only have an hour to respond, now that ive got the option I feel compelled to go ahead with it. tough choices.

[CJ]

I would do it. Total cock-up, no over subscriptions and very low start price. This thing isn't going to bolt straight out the gate if that's what you're hoping for (I was, I'll be honest!)I wouldn't go as far as total cock up - and no oversubscription is balanced out (at least in part) by low starting price. Raising $65m for an unknown tech company was always going to be hard so the fact it wasn't undersubscribed should actually be seen as a positive.

[etrader]

Thoughts on wynyard doing the spy work for the govt or is it all under wraps who has that work.

I got my full allocation requested but I guess timing is everything a few months prior this stock would have stagged - happy long term holder.

They just announced another partnership in the UK

[Baddarcy]

I wouldn't go as far as total cock up - and no oversubscription is balanced out (at least in part) by low starting price. Raising $65m for an unknown tech company was always going to be hard so the fact it wasn't undersubscribed should actually be seen as a positive.

I think CJ is spot on, the fact it was fully subscribed is definitely a positive. It was within the price band too, even thou it was at the lower end.

If you want to see what a cock up looks like, google BBQ Factory IPO :-)

[CJ]

If you want to see what a cock up looks like, google BBQ Factory IPO :-)I dont remember that one but Burgerfuel also comes to mind - it only hit the minimum amount after the founding shareholder put more money in - that is the reason that company has so little liquidity. Not sure why it didn't go well - you could buy in store on your credit card - "would like like shares with that?"

[Whipmoney]

Sam Morgans backing it by putting $2.5m on the line:

http://www.nbr.co.nz/article/sam-morgan-reveals-wynyard-group-stake-reasons-backing-ipo-ck-p-142385

[tosspot]

Sam Morgans backing it by putting $2.5m on the line:

http://www.nbr.co.nz/article/sam-morgan-reveals-wynyard-group-stake-reasons-backing-ipo-ck-p-142385
I almost get the feeling they asked him, as he and wynyard know that others will buy simply because hes buying in.

[CJ]

Sam Morgans backing it by putting $2.5m on the line:

http://www.nbr.co.nz/article/sam-morgan-reveals-wynyard-group-stake-reasons-backing-ipo-ck-p-142385I really need to sort me out a subscription.

Having him back it means that it should go well, at least initially till we start getting growth numbers to (hopefully) support the price.

Moosie - no longer a cockup?

[CJ]

I almost get the feeling they asked him, of course they asked him - they would be dumb not to.

That doesn't mean he invests in just anything. No matter how rich you are $2.5m is decent money.

[Whipmoney]

I almost get the feeling they asked him, as he and wynyard know that others will buy simply because hes buying in.

Potentially but I just think guys like him are optimistic about investment opportunities such as these.

[Baddarcy]

Potentially but I just think guys like him are optimistic about investment opportunities such as these.

Yes but guys like us expect people like him to recognize the difference between a golden goose and a lemon. I expect that he gave it a good look first.

[etrader]

So at this stage the lead brokers are not confirming this so where has the stuff site or who ever brought this out obtained the info

[Stranger_Danger]

I'm really surprised Sam Morgan is allowing himself to be used in this way. If this current tech boom turns to custard, he could end up "attached" to it, in the same way Eric Watson ended up attached to the 99/00 period. If you recall, anything Watson was in, went up. Until the boom ended - then it was a black mark.

I hope the same doesn't happen here.

[CJ]

mmm, dont underestimate the sam morgan/richard branson/peter thiel/milford growth effect sparky. we have seen many stocks soar when people think they are following the smart money...Yes and thats why I say his involvement will be good for the company.

BUT in the end, the company must stand on its fundamentals. No 'SuperInvestor' can change that. Sure they may be better at picking the better company's but that doesn't mean they get it right 100% of the time.

I personally see this as a good sign. While Sam does invest in a lot of tech companies, he doesn't invest in them all. Therefore he must have some selection criteria which, given his experience are probably better than mine. I also note that this is not a new start up, which Sam is helping to take off. It is an established company, and while fairly new, is a spin off of an existing company which Sam has no involvement in - again a positive sign as his investment should in theory be based on investment criteria rather than start up/angel investing criteria.

Sparky - you can kill a lot of cats for $2.5m. While inconsequential, I don't think the decision would have been taken lightly.

[1leon]

Which is precisely what Gareth Morgan is now up to.

I should declare, while I have a huge admiration for Sam Morgan, I do not share the same sentiments for his father, who I think is a loudmouth lunatic who has underperformed and underdelivered in funds management.
Couldnt agree more on Gareth --Gareth was also less transparent on his own fees whilst he got great publicity criticising others on their fees. I do wonder however whether some name investors are also able to negotiate put options on the side for added protection. I'm intriqued to see PIE Funds newsletter refers to being in the money on put options.

[etrader]

From memory wyn float this Friday - closed fully subscribed at the lower end of the price range

Thoughts from investors who got an allocation or investors keen to pick up a few

[Options]

I took an allocation. More a punt rather than some deep analytical work. I feel this is what the share market is about, letting people invest in companies with strong growth ambitions. I know they are likely to tap me on the shoulder for more money but I am happy with that. Xero has proven if you get the right people on board and are not too greedy then you can be successful. Wynyard has the opportunity to form some strategy over their listing that could help them grow. Good luck to them. Hope they have a good listing however this is a long term play so not too worried about the first day, week, month. The next two years is a better time frame to judge.

[CJ]

I took an allocation. I'm in exactly the same position as Options for pretty much the same reasons. Took a punt to support NZ growth companies in the hope we will see more listing - Technology is the best way for NZ as a country to increase its wealth. I think this has better potential than SNK and SLI but what do I know? Disappointed (in one sense) there is no scaling as it suggested limited demand on IPO but happy Sam Morgan has taken a stake as it validates the business, much like it has done for SLI. Will be interesting to see if any other big investors/ funds took a punt.

As a sector, I like technology. I am invested in DIL and was in XRO till it got to rich for me. Also invested in CHU as a bit of vertical integration on technology.

etrader - I have it in my diary as listing on Friday.

[goldfish]

Isnt this listing tomorrow? Thoughts on how it will go on opening day?

[goldfish]

I hope you are right, in thinking of picking up some in the morning and getting rid of in the afternoon. Still undecided though.

[goldfish]

Yes thats why im undecided, i may hang fire see if theres a uptrend first, dont want to leave it to late though. Syn may be better for staging

[etrader]

1.23 high for the day sink back to 1.11 in the afternoon before settling just above listing over the first few days. Once the traders exit for a quick stag the fundamentals will come into play. $1.80 within a year.

DYOR

[baller18]

There's a buyer at $1.30 already...

[baller18]

Damn 1.31, looks like its gonna open at 1.35 - 1.4. Shouldve gotten some!! Damn!

[Baddarcy]

Damn 1.31, looks like its gonna open at 1.35 - 1.4. Shouldve gotten some!! Damn!

Sellers appearing now looks like low 1.20s

[Billy Boy]

Could drop off at the days end as Traders cash up for the weekend.
BB

[baller18]

Sellers appearing now looks like low 1.20s

Yes so weird, was looking at the depth chart, all the buy orders are all taken off now.
There were buyers from ranges from $1.1 - $1.5...
Is the depth chart incorrect?

[Whipmoney]

Wow a lot of people got out quick!

[Baddarcy]

Could drop off at the days end as Traders cash up for the weekend.
BB

Looking like it might drop off sooner than that, Buyers are non existent right now.

[CJ]

More than 60 per cent of the offer shares have been allocated to New Zealand and Australian institutional investors; major investors include Milford Asset Management, Salt Funds Management, Harbour Asset Management, AMP Capital, Zeus Management and Sam and Gareth Morgan.

[baller18]

Why would all the buyers drop out all in like the last second? whats the point of putting in the order?

[bull....]

Could drop off at the days end as Traders cash up for the weekend.
BB

staggers will have to sell for a loss by the look

[blackcap]

Why would all the buyers drop out all in like the last second? whats the point of putting in the order?


Baller... the buyers did not "drop out" as it looks like. They were matched by sellers on the other side when the market opened at 1.15. Hope this helps.

[trackers]

Baller... the buyers did not "drop out" as it looks like. They were matched by sellers on the other side when the market opened at 1.15. Hope this helps.

There were fake bids prior to opening all the way up until the last few minutes when they were pulled - Probably big holders in the IPO trying to bid things up.

the real buyers that ended up matching at 1.14 were a different crowd

[goldfish]

Well that was a fizzer. Was kind of expected tbh. Was ready just in case it shoot up. Good luck to holders.

[Billy Boy]

selling at a loss is just idiotic!
Wait until the stupidity gets weeded out then sell.
Next week could well be the timing..
BB

[baller18]

Looks like it could possibly go down to $1.05 today... but who knows, it may shoot up as well

[CJ]

Bought a bit at $1.14. Why did you buy so soon. With the lack of sellers, I expect this to drift down.

[Billy Boy]

Why did you buy so soon. With the lack of sellers, I expect this to drift down.
Geeez CJ, ya had me going for a bit. thought I twas reading the Depth up side down
BB:D

[blackcap]

Looks like the usual morning negativity showing a valley in the first hour followed by the uptrend forming the other bank. Seller confidence will return as $1.13 and $1.14 are chipped away. Once $1.15 goes the buyers should return. A little weakness at the knees, but then again we have seen a lot of nervous nellies lately giving us ones who are on the ball the chance to make some real money lately :)

DISC - Holding WYN, very short term.

It doesn't always work like that Moosie. They chip away at 1.13 and 1.14, all appears well and then hey presto, another 50k for sale at 1.13. Depending on how many they need to sell this can go on for a while.

[CJ]

I fully appreciate that, but they eventually have to run out, and selling below the IPO price is quite dumb when you're the only one block selling! Hopefully they will see the light in a day or two, they already appear to be doing so at $1.13Isn't this how you got caught out in SNK with Sorenson?

[baller18]

floor price seems to be at $1.1, volume 128k.

[Banksie]

There was no IPO for SNK. There were plenty of original shareholders with much greater holdings at far, far lower prices though. Most key shareholders who wanted out of Wynyward have done so and been given the chance, unlike with SNK. Apples and oranges a bit...

Didn't Jade have another $3m worth of shares they would have put in if there was an over-subscription? Maybe they are unloading these now.

[K1W1G0LD]

There was no IPO for SNK. There were plenty of original shareholders with much greater holdings at far, far lower prices though. Most key shareholders who wanted out of Wynyward have done so and been given the chance, unlike with SNK. Apples and oranges a bit...

Hope you've bought plenty of these Moosie, this is going to be a seriously good one.
Look at them all lined up to get out already!?

[Whipmoney]

Yeah bit of a flop but I got out relatively unscathed..

[etrader]

Good to shake out the short term traders who hoped for an easy gain, the faster they leave the better. Buy on fundamentals - and buy into the leaders that you back.

[Balance]

http://www.nzherald.co.nz/markets/news/article.cfm?c_id=62&objectid=10900212&ref=newsl_businessnewsdirect_J20080610_113625_2167 _4261_883682029

Hamilton Hindin Greene thinks it won't climb above IPO price "anytime soon"

What's the point of saying that from HHG - after the fact?

Any donkey can also do that.

What is interesting is HHG's implicit recommendation of participating in the IPO by highlighting their research on Wynyard on their FB site :

"Tonight is a great night to curl up in front of the fire and read the prospectus for Wynyard Group. Contact your advisor at HHG if you are interested in taking part in the initial public offering at $1.15."

[CJ]

So Milford Asset Management took 11% and Salt Funds took 5.5%. Will be interesting to see if Jasmine (Sam Morgan) or any other funds do a SSH.

I just want to note that Milford has done pretty well over the last few years and they have experience at backing these smaller companies.

Disc: Holding (on for dear life)

[blackcap]

What's the point of saying that from HHG - after the fact?

Any donkey can also do that.

What is interesting is HHG's implicit recommendation of participating in the IPO by highlighting their research on Wynyard on their FB site :

"Tonight is a great night to curl up in front of the fire and read the prospectus for Wynyard Group. Contact your advisor at HHG if you are interested in taking part in the initial public offering at $1.15."

A cynic would say that HHG have a commission to be gained from take up in the IPO :)

[CJ]

They have started spending the new cash already: http://www.sharechat.co.nz/article/5a859746/wynyard-buys-uk-based-mha-gateway-service-after-friday-listing.html

Not on the NZX website yet so hopefully that isn't a boo boo and they get their first slap on the wrist.

[CJ]

They have started spending the new cash already: http://www.sharechat.co.nz/article/5a859746/wynyard-buys-uk-based-mha-gateway-service-after-friday-listing.html

Not on the NZX website yet so hopefully that isn't a boo boo and they get their first slap on the wrist.

[etrader]

Is it that the price is so small compared to market cap ie under 5 percent they don't have to notify investors

[CJ]

So Milford Asset Management took 11% and Salt Funds took 5.5%. Milfords been propping up the price buying over 1m shares at $1.10ish taking them over 12%

https://www.nzx.com/files/attachments/178673.pdf

[bull....]

Milfords been propping up the price buying over 1m shares at $1.10ish taking them over 12%

https://www.nzx.com/files/attachments/178673.pdf


yes interesting i didnt really rate it , but since milford seem to have such high conviction in this i keep one eye on it

[etrader]

CJ I see that as positive Brian is taking advantage of the opportunity while its below IPO price this stock will be $2 within a year once the negative people click to the importance of their defined product suite.

[CJ]

yes interesting i didnt really rate it , but since milford seem to have such high conviction in this i keep one eye on itI picked this as the best out of SLI, SNK and WYN. Time will tell if I got it right - SLI has been doing very well since IPO on no news.


CJ I see that as positive Brian is taking advantage of the opportunity while its below IPO price this stock will be $2 within a year once the negative people click to the importance of their defined product suite.I assume Brian and his team looked into this in quite a bit of depth to support the IPO as they did. Hopefully the sales growth comes of and it another winning tech company for NZ.

[baller18]

Something I don't understand, why is SLI shooting up with no news? It storms down, then it storms up... Just because of FB?

[etrader]

Westpac scooped up just over 5 percent - some big names taking the opportunity to buy in while its still just below IPO price.

[bull....]

taken a nibble lets see how it goes

[CJ]

taken a nibble lets see how it goesBig volume today and back up to IPO price. Hopefully it holds and continues to rise as good news comes in.

[bull....]

chart looks interesting suggests higher price so see what happens , staggers probably baled for a loss and long termers took their shares so see if traders push it higher

[baller18]

Wynyard's on fire today!

[CJ]

Wynyard's on fire today!Lots of buyers. Not sure why. Has anybody heard anything - brokerage report out or anything?

[baller18]

Nope, could it be doing a SLI?
Before FB released their prediction on SLI, SLI went from $1.8 to $2.05, then after FB, it is currently at $2.55...

[CJ]

broken above ipo price, risk on day, delayed stag. brokers will be buying upwards to make their paper profits look better after buying below ipo and to get some fire under the sp. bring in the teaders ;)Does that mean it will be short lived?

[Dej]

To think I was going to buy some last week.. Typical!

[baller18]

Does that mean it will be short lived?

Hard to say, I think a lot of people are taking nibbles hoping it'll be the next XRO or DIL.
Only bad news would bring the SP down at the moment, otherwise, could be on the rise for who knows how long and how high.
Makes me think serko IPO could be oversubscribed, considering only 20million in the IPO whereas, Wynyard had 65million.

[baller18]

broken above ipo price, risk on day, delayed stag. brokers will be buying upwards to make their paper profits look better after buying below ipo and to get some fire under the sp. bring in the teaders ;)
Good on your staggermoose! lol
What do think of stagging serko?

[biker]

Lots of buyers. Not sure why. Has anybody heard anything - brokerage report out or anything?

Brian Gaynor making positive comments on National Radio this morning

[goldfish]

I jumped on the bandwagon and got a few when it dipped below ipo and support came in, looking like a good move now.

[etrader]

Wasn't there a Christchurch broker who thinks it is unlikely to get back to iPo price for some time. Looks professional if they suddenly rate it as a buy.

Good that the stags dumped and left investors to hold for the potential it has

[CJ]

Wasn't there a Christchurch broker who thinks it is unlikely to get back to iPo price for some time. Yes - the firm currently coming last in the share pick competition.

[baller18]

N it drops to 1.15??? why???

[baller18]

baller, as a beginner you need to learn patience. it took me two loooooong years to do so. the market goes up and down EVERY single day, and unless you are a trader you need to ignore the short term noise and focus in on the long term story. day trading is only going to make your broker rich and your nerves shot. buy in to a stock long term then watch (JUST watch without trading) how it trades every day. you will get a good second sense of why things go up and down then.

take it easy breezy :)

Hey moosie,

Yup, I'm not holding Wyn, and trying to understand why stocks go up and down so I keep an eye on it. Like for Dil im not worried at all about the up and downs because I'm in it for the long term.
It just confuses me how come with news it goes up suddenly then it drops suddenly with no news, I know people sell for all difference reasons, but a day like this?
Yup the story and fundamentals of the company is what matters the most!

Thanks mossie!

[CJ]

It just confuses me how come with news it goes up suddenly then it drops suddenly with no news, I know people sell for all difference reasons, but a day like this?Someone had 130,000 shares to sell. This is the first time there has been enough buyers that they could sell at the IPO price.

[Options]

Brian Gaynor making positive comments on National Radio this morning
Can we find this conversation online somewhere? Would be interesting to listen to. Whos show was he on?

[biker]

Can we find this conversation online somewhere? Would be interesting to listen to. Whos show was he on?
On Morning Report business 6.45 to 7.

http://www.radionz.co.nz/audio/player/2563669

Wynyard item starts at 3min 40 sec

[sideline]

Isn't Milfords Fund Management a major shareholder at 12+ percent? That would give me cause to take Gaynor's comments with a grain of salt.

[CJ]

Isn't Milfords Fund Management a major shareholder at 12+ percent? That would give me cause to take Gaynor's comments with a grain of salt.yes. They hold 12%

They are also one of the top performing Kiwisaver funds.

[Dej]

Isn't Milfords Fund Management a major shareholder at 12+ percent? That would give me cause to take Gaynor's comments with a grain of salt.

Well he invested in them probably for believing in the company and management, and now that they have a substantial holding, saying why they like it so much. Its not like he is hyping the market so he can quickly flick the shares. Brian Gaynor is a respectable man and is apart of one of the best funds in New Zealand.

[etrader]

Listened to the radio nz article - hype is what it wasn't just the clear facts from Brian - he has spend considerable time investigating if WYN is the right fit hence popping 17 million into it. Seems the spike were just listeners who got a little excited

[CJ]

Listened to the radio nz article - hype is what it wasn't just the clear facts from Brianyip - if anything he talked it down saying he expected it to trade around current prices and that it would be a long road. Not exactly pumping.

[bull....]

What a ride yesterday , surprising it closed like it did , if can rise today chart still looks good

[CJ]

What a ride yesterday , surprising it closed like it did , if can rise today chart still looks goodLarge turnover at open at IPO price. I still think there will be a bit of shake out to come as those who just wanted to stag get out, before those with the long term view start controling the price more. Good time to top up in IMHO.

Disc: Hold from IPO.

[bull....]

yip - if anything he talked it down saying he expected it to trade around current prices and that it would be a long road. Not exactly pumping.

had a listen , agree the price probably fell surprisingly after he talked it down , go figure?

[CJ]

I still think there will be a bit of shake out to come as those who just wanted to stag get out, before those with the long term view start controling the price more. Good time to top up in IMHO.Another good rise this morning. Will be interesting to see if it shakes any sellers out today.

[CJ]

It held above the IPO price all day on turn over of over 1m.

[bull....]

they scored a big customer cool

https://www.nzx.com/companies/WYN/announcements/239149

[etrader]

Another notch for WYN I understand the sensitive nature of their clients as we don't know what these contracts are worth so only 6 month and yearly accounts will show the overall growth in the business.

[etrader]

Looks like most days one decent trade 300k plus parcels going through just waiting for the next new large shareholder to emerge.

Will be $1.80 by Xmas

[baller18]

Looks like most days one decent trade 300k plus parcels going through just waiting for the next new large shareholder to emerge.

Will be $1.80 by Xmas

your reasoning being for it to reach $1.80?

[etrader]

The listing was priced near the bottom end of the range of 1.65 which gave an allowance for growth. This stock will perform well once investors can work out their space in the market which has a good moat around it.

$1.80 is a stab but like I say pricing it at the bottom end of the range was smart. Watch this space for many more bolt on purchases.

Jmho

[Snow Leopard]

The listing was priced near the bottom end of the range of 1.65 which gave an allowance for growth. This stock will perform well once investors can work out their space in the market which has a good moat around it.

$1.80 is a stab but like I say pricing it at the bottom end of the range was smart. Watch this space for many more bolt on purchases.

Jmho

I have bought some of these on market but they are currently, for me, a minimum sized holding.

Best Wishes
Paper Tiger

[bmrm]

I bought a decent chunk of these at IPO. I see it as a nice XRO type grower, but with the difference being that WYN's customers are going to mainly be large institutions = reliable, long-term revenue. Once the SFO or the Police choose a product, they will be using it for 5-10 years.

I'm pleased to see how the stock is going so far, especially considering how little of their business is publicly known. I work in one of their target-industries and know first-hand that their offering is sound.

[CJ]

I bought a decent chunk of these at IPO. I see it as a nice XRO type grower, but with the difference being that WYN's customers are going to mainly be large institutions = reliable, long-term revenue. Once the SFO or the Police choose a product, they will be using it for 5-10 years.For that reason, I see them more as a DIL than a XRO. Hopefully it will be more successful than both.

Disc: got a few in the IPO. Holding DIL, sold out of XRO and regretting it (with hindsight only, it was the right decision at the time).

[bmrm]

I see them more as a DIL than a XRO.
That is probably a better analogy, I don't hold any DIL and don't really know enough about it to comment (even though I just did!).

[CJ]

Milford still buying up, now own 13%+. Eat your heart out.Buying up to $1.20.

Must be very confident as there is no way they could sell out that much without causing a disaster.

[etrader]

Milford can only spend another $10 mill on wyn before they make a takeover which won't be the case. They will accumulate a substantial holding for the medium term. They are a lot more researched than me so I'm sure they buy into the future story.

[Scottman]

Yes I've been researching this company at work (retail is so slow) and it certainly needs time to digest it all. But I'm positive about their future. They have a great team on board. And yes I have taken a punt and bought. A calculated risk. Why didn't that group ever put their stuff on CD Kal -Q-Lated Risk ?

[VinPetrol]

Has anyone else stumbled across this announcement?

https://wynyardgroup.com/wynyard-joins-security-alliance/

[Scottman]

Yes saw that last night. These guys are onto it.

[CJ]

Has anyone else stumbled across this announcement?

https://wynyardgroup.com/wynyard-joins-security-alliance/Kept meaning to post it but kept forgetting. Very smart play by all of them. Will reduce their sales costs (office overheads) and should hopefully leverage some good relationships. Endace has done very well at getting big contracts and I assume the other 2 have as well. Very positive.

[VinPetrol]

Kept meaning to post it but kept forgetting. Very smart play by all of them. Will reduce their sales costs (office overheads) and should hopefully leverage some good relationships. Endace has done very well at getting big contracts and I assume the other 2 have as well. Very positive.

Interesting! Is it your understanding that the alliance is more about having a common outlet to offer their services / keep overheads down, rather than some sort of product integration between the partners?

I very much like the sound of the office being in Washington, targeting big defence contracts no doubt.

Also, I've never heard of them but the website says Gallagher was founded in 1938 and HQ is in Hamilton, does anyone know anything about them?

[CJ]

Interesting! Is it your understanding that the alliance is more about having a common outlet to offer their services / keep overheads down, rather than some sort of product integration between the partners?

I very much like the sound of the office being in Washington, targeting big defence contracts no doubt.

Also, I've never heard of them but the website says Gallagher was founded in 1938 and HQ is in Hamilton, does anyone know anything about them?I assume it is a central sales office only, no integration.

Wasington base is great for government contracts.

Never heard of Gallagher? Great NZ success story but not much in the media as family owned (I think). Any farmer should know them -they invented the electric fence (the modern day one anyway). Think of them as perimeter security (military/prison/cows)

[TimmyTP]

[...]I've never heard of them but the website says Gallagher was founded in 1938 and HQ is in Hamilton, does anyone know anything about them?
This is the same Gallagher who invented the electric fence, so "most of New Zealand":
http://bit.ly/14JkOig

(no offence intended, just having a little play)

[Toasty]

Gallaghers has been around forever in NZ terms and is a big employer in the Waikato. They have a big black office building that stands all on its own out in the industrial level on the bypass road through Hamilton near the lake. Bill Gallagher is a hell of a nice guy and very on to it and as I understand it the executive team are all pretty sharp as well.

As a bit of trivia Bill and his wife...actually mostly his wife, have built a giant French style chateau next to the Hamilton Lake near the Waikato Hospital. It is truly horrendous and has a giant pool and indoor 10 pin bowling alley. Its worth driving by to have a look but you get a good view from the lake walkway.

[CJ]

This is the same Gallagher who invented the electric fence, so "most of New Zealand":Like all great NZ inventions, this was designed out of necessity:

An early application of the electric fence was developed in 1936–1937 by New Zealand inventor Bill Gallagher. Built from a car ignition coil and a magneto set, Gallagher used the device to keep his horse from scratching itself against his car. Gallagher later started the Gallagher Group to improve and market the design.

Source: wikipedia

[VinPetrol]

This is the same Gallagher who invented the electric fence, so "most of New Zealand":
http://bit.ly/14JkOig

(no offence intended, just having a little play)


None taken! I only had a brief look at the STA website blurb so I definitely should've done a better job of researching it myself.

As to it being a household name, that might possibly be a bit before my time ;)

Cheers for the insights CJ/Toasty.

Despite what sounds like wife's poor taste in a private retirement village, the company sounds to be perfect company for WYN to keep in D.C. !

[etrader]

Good article in the nz herald today nothing major or new but reading between the lines they are just getting started.

[bmrm]

http://www.stuff.co.nz/business/industries/9078647/Wynyard-gets-Queensland-Rail-contract
Didn't realize their products extended to railways!

[CJ]

http://www.stuff.co.nz/business/industries/9078647/Wynyard-gets-Queensland-Rail-contract
Didn't realize their products extended to railways!They have four different products, this is one of them. A good win for them.

[baller18]

Been keeping an eye out on Wynyard, is this going to do a SLI, once it breaks through the resistance level of $1.3?
Can see it get to $1.5 when it breaks through $1.3...

[Scottman]

Doing the ground work & looking good baller. .

[bunter]

Um isn't this company technically insolvent?
Assets 43.4m liabilities 44.3m.
Current assets 6.3m current liabilities 7.3m.
Unless things have changed since balance date, surely it needs to raise more money soon.

[forest]

Things have changed bunter since balance date.

IPO was in July see article below.

ALLOT: WYN: Wynyard Group Limited Allotment of Securities 09:03a.m.
WYN
19/07/2013 09:03
ALLOT

REL: 0903 HRS Wynyard Group Limited

ALLOT: WYN: Wynyard Group Limited Allotment of Securities

18 July 2013

Listed Company Relations
?NZX Limited
?WELLINGTON
By e-mail: announce@nzx.com

NOTIFICATION OF ALLOTMENT OF SECURITIES

For the purposes of Listing Rule 7.12.1, Wynyard Group Limited advises the
following securities have been issued on 18 July 2013:
a Class of security ordinary shares
ISIN NZ WYNE0001S2
b Number issued 56,521,739
c Nominal value Not applicable
Issue Price NZ$1.15 per share
d Payment in cash Yes
e Amount paid up Fully paid
f Percentage of class of securities 55% (being 56,521,739 out of 102,567,777
ordinary shares)
g Reason for issue Under initial public offering
h Authority for issue Directors' resolution dated 18 July 2013
i Terms of issue The shares rank pari passu with the existing ordinary shares

j Number of securities in existence after issue 102,567,777 ordinary shares,
2,496,000 redeemable ordinary shares and 2,304,000 options. The redeemable
ordinary shares and the options will not be listed.
k Treasury stock not applicable

Yours faithfully

?Murray Horn?
Director

NOTIFICATION OF ALLOTMENT OF SECURITIES

[etrader]

So the first 6 months is in and annual turnover projections are the same.

Thoughts please ?

[Scottman]

I'm focusing on their 4 point global expansion plan. Give them time. A new company, great innovative products, top management & staff.

[CJ]

So the first 6 months is in and annual turnover projections are the same.

Thoughts please ?They only listed a couple of months ago so if their projections were wrong, I would be concerned. They are implementing to strategy

[Everwood]

WYN about to do an SLI and drop back to IPO price most likely, then rebound again. Hope some are prepared to buy in and make a few bob on this dip!


If I had extra capital right now, I would start thinking about buying a small holding. It still speculative play in my eyes, but I think it has good potential.

[Scottman]

Yes that's a nice dip. Wonder why.

[baller18]

The reports that have been released lately suggest it won't stay down for long. Trust me, if I had the capital free I would be playing it too!
Hmmm, the dip hasn't stopped!

[Scottman]

From what I have read also, this is going to be a world class company and just getting off the ground. Patience is a virtue. Great product and a fantastic team.

[baller18]

Hammer reversal pattern is happening with wynyard right now..

[baller18]

Quite a few down days before that hammer, nice large volume today as well. Almost perfectly dipped down to IPO price, think we shall be seeing some more gains as the NZX hits new highs and sentiment charges forward! Not as much of an SLI dip but still good enough for a play!
Yup it was definitely a downtrend from 1.29 to 1.20 then confirmation from the past 2 days... think it will go to at least 1.30, don't know if hammer bullish reversal normally creates a new high though?
Oh wow, so SLI had a hammer as well? But no confirmation yet? as the next 2 days have closed lower...
Man never knew TA trading can be so accurate, when SLI went to all high of 2.50, had a shooting star, then went south afterwards...

[baller18]

Need to be watching for a breach of the previous high on high volume there baller :)
yes!
To trade SLI, do I need to wait for one of the candlesticks to close higher than the hammer? therefore, confirming confirmation?

[baller18]

Confirming confirmation? Funny man baller!

It looks like SLI has fallen into a consolidation period with a minor downtrend formation on low volume. Remember that IPO was $1.50 and all time high was $2.50, so we are smack bang in the middle of the range. RSI and stochastic are showing oversold, although I wouldn't be surprised if we went a bit lower, but not much more. The traders have been shaken out over the past months and long-termers are now taking hold. The FY looked good and slightly beat forecasts so SLI should have some positive sentiment coming back soon. Also, remember that forecast was for $2.25 over 12 months, and with the market in such a positive tone I wouldn't be surprised if it hit and surpassed that number over the next month.

Remember, DYOR, I am just here to guide, not as a buy/sell signal (DIL has proven me wrong short-term!).

I think you should read "One Up On Wall Street" and seriously consider being a long-term holder looking for compounding capital growth rather than short-term capital gain that can be taxed ;)
Haha yes, just to trade some trades to increase my capital.
Yup I've actually read through one up on wall street! Yes, don't want to invite the taxman!

[baller18]

Our hammer is not very bullish is it moosie? man what is up with the depth chart...

[Snow Leopard]

Just leave it, and SLI, alone, moosie.
Neither need the enthusiastic moosie kiss of death.

Best Wishes
Paper Tiger

Disc: have dabbled.

[Snow Leopard]

...ol' spotted friend...

spots = leopard
stripes = tiger

Best Wishes
Paper Tiger

[Schrodinger]

Confirming confirmation? Funny man baller!

It looks like SLI has fallen into a consolidation period with a minor downtrend formation on low volume. Remember that IPO was $1.50 and all time high was $2.50, so we are smack bang in the middle of the range. RSI and stochastic are showing oversold, although I wouldn't be surprised if we went a bit lower, but not much more. The traders have been shaken out over the past months and long-termers are now taking hold. The FY looked good and slightly beat forecasts so SLI should have some positive sentiment coming back soon. Also, remember that forecast was for $2.25 over 12 months, and with the market in such a positive tone I wouldn't be surprised if it hit and surpassed that number over the next month.

Remember, DYOR, I am just here to guide, not as a buy/sell signal (DIL has proven me wrong short-term!).

I think you should read "One Up On Wall Street" and seriously consider being a long-term holder looking for compounding capital growth rather than short-term capital gain that can be taxed ;)

i can add tea leaf readings and Tarrot Cards if you need as well..

[Schrodinger]

every little bit helps. now oversold and expecting a bit more selling before consolidation and minore uptrend again. would be buying in $1.10-$1.13 region and selling around $1.25. expect next consolidation around $1.20. after that, who knows...

I give serious street cred to those brave individuals who successfully day trade and follow the technical analysis path.

[baller18]

could even go higher than $1.30 but who knows, SLI went to $2.50! lol

[baller18]

You might be right on the money moosie, so much for the hammer though lol!

[Scottman]

Long termer here as well. It may not be widely known but these guys are part of the 5 Eyes network. That info may have been in the prospectus but don't recall seeing it.
The United Kingdom – United States of America Agreement (UKUSA, / (http://en.wikipedia.org/wiki/Help:IPA_for_English)juː (http://en.wikipedia.org/wiki/Help:IPA_for_English#Key)k (http://en.wikipedia.org/wiki/Help:IPA_for_English#Key)uː (http://en.wikipedia.org/wiki/Help:IPA_for_English#Key)ˈ (http://en.wikipedia.org/wiki/Help:IPA_for_English#Key)s (http://en.wikipedia.org/wiki/Help:IPA_for_English#Key)ɑː (http://en.wikipedia.org/wiki/Help:IPA_for_English#Key)/ (http://en.wikipedia.org/wiki/Help:IPA_for_English) ew-koo-SAH (http://en.wikipedia.org/wiki/Wikipedia:Pronunciation_respelling_key))[1] (http://en.wikipedia.org/wiki/UKUSA_Agreement#cite_note-1)[2] (http://en.wikipedia.org/wiki/UKUSA_Agreement#cite_note-2) is a multilateral agreement for cooperation in signals intelligence (http://en.wikipedia.org/wiki/Signals_intelligence) between the United Kingdom (http://en.wikipedia.org/wiki/United_Kingdom), the United States (http://en.wikipedia.org/wiki/United_States), Canada (http://en.wikipedia.org/wiki/Canada), Australia (http://en.wikipedia.org/wiki/Australia), and New Zealand (http://en.wikipedia.org/wiki/New_Zealand). The alliance of intelligence operations is also known as Five Eyes (FVEY).[3] (http://en.wikipedia.org/wiki/UKUSA_Agreement#cite_note-3)[4] (http://en.wikipedia.org/wiki/UKUSA_Agreement#cite_note-4)[5] (http://en.wikipedia.org/wiki/UKUSA_Agreement#cite_note-5) It was first signed in March 1946 by the United Kingdom and the United States and later extended to encompass the three Commonwealth realms (http://en.wikipedia.org/wiki/Commonwealth_realm) of Canada, Australia and New Zealand. The UKUSA Agreement was a follow-up of the 1943 BRUSA Agreement (http://en.wikipedia.org/wiki/1943_BRUSA_Agreement), the World War II (http://en.wikipedia.org/wiki/World_War_II) agreement on cooperation over intelligence matters.[6] (http://en.wikipedia.org/wiki/UKUSA_Agreement#cite_note-6) This was a secret treaty (http://en.wikipedia.org/wiki/Secret_treaty), allegedly so secret that it was kept secret from the Australian Prime Ministers until 1973.[citation needed (http://en.wikipedia.org/wiki/Wikipedia:Citation_needed)]
The agreement established an alliance of five English-speaking countries for the purpose of sharing intelligence, especially signals intelligence (http://en.wikipedia.org/wiki/Signals_intelligence). It formalized the intelligence sharing agreement in the Atlantic Charter (http://en.wikipedia.org/wiki/Atlantic_Charter), signed in 1941, before the entry of the U.S. into the conflic

[baller18]

Long termer here as well. It may not be widely known but these guys are part of the 5 Eyes network. That info may have been in the prospectus but don't recall seeing it.
The United Kingdom – United States of America Agreement (UKUSA, / (http://en.wikipedia.org/wiki/Help:IPA_for_English)juː (http://en.wikipedia.org/wiki/Help:IPA_for_English#Key)k (http://en.wikipedia.org/wiki/Help:IPA_for_English#Key)uː (http://en.wikipedia.org/wiki/Help:IPA_for_English#Key)ˈ (http://en.wikipedia.org/wiki/Help:IPA_for_English#Key)s (http://en.wikipedia.org/wiki/Help:IPA_for_English#Key)ɑː (http://en.wikipedia.org/wiki/Help:IPA_for_English#Key)/ (http://en.wikipedia.org/wiki/Help:IPA_for_English) ew-koo-SAH (http://en.wikipedia.org/wiki/Wikipedia:Pronunciation_respelling_key))[1] (http://en.wikipedia.org/wiki/UKUSA_Agreement#cite_note-1)[2] (http://en.wikipedia.org/wiki/UKUSA_Agreement#cite_note-2) is a multilateral agreement for cooperation in signals intelligence (http://en.wikipedia.org/wiki/Signals_intelligence) between the United Kingdom (http://en.wikipedia.org/wiki/United_Kingdom), the United States (http://en.wikipedia.org/wiki/United_States), Canada (http://en.wikipedia.org/wiki/Canada), Australia (http://en.wikipedia.org/wiki/Australia), and New Zealand (http://en.wikipedia.org/wiki/New_Zealand). The alliance of intelligence operations is also known as Five Eyes (FVEY).[3] (http://en.wikipedia.org/wiki/UKUSA_Agreement#cite_note-3)[4] (http://en.wikipedia.org/wiki/UKUSA_Agreement#cite_note-4)[5] (http://en.wikipedia.org/wiki/UKUSA_Agreement#cite_note-5) It was first signed in March 1946 by the United Kingdom and the United States and later extended to encompass the three Commonwealth realms (http://en.wikipedia.org/wiki/Commonwealth_realm) of Canada, Australia and New Zealand. The UKUSA Agreement was a follow-up of the 1943 BRUSA Agreement (http://en.wikipedia.org/wiki/1943_BRUSA_Agreement), the World War II (http://en.wikipedia.org/wiki/World_War_II) agreement on cooperation over intelligence matters.[6] (http://en.wikipedia.org/wiki/UKUSA_Agreement#cite_note-6) This was a secret treaty (http://en.wikipedia.org/wiki/Secret_treaty), allegedly so secret that it was kept secret from the Australian Prime Ministers until 1973.[citation needed (http://en.wikipedia.org/wiki/Wikipedia:Citation_needed)]
The agreement established an alliance of five English-speaking countries for the purpose of sharing intelligence, especially signals intelligence (http://en.wikipedia.org/wiki/Signals_intelligence). It formalized the intelligence sharing agreement in the Atlantic Charter (http://en.wikipedia.org/wiki/Atlantic_Charter), signed in 1941, before the entry of the U.S. into the conflic
I see this being better than SLI, they have a great team with great experience in the security field... My 5 cents..

[baller18]

I'm starting to think Wynyard can be a good long term hold, I agree with someone indicating it is more like Dil rather than a xro. They are definitely doing the ground work it seems.


OFFICE: WYN: Wynyard Announces Strategic Appointments in Growth Markets
WYN
27/09/2013 09:31
OFFICE

REL: 0931 HRS Wynyard Group Limited

OFFICE: WYN: Wynyard Announces Strategic Appointments in Growth Markets

Wynyard Group (NZX:WYN), the specialists in software for protecting companies
and countries from threat, crime and corruption, continues to expand its
global workforce and footprint. Today, Wynyard announced a number of key
strategic appointments in Australia, USA, UK and Asia.
As part of its global growth plan, Wynyard has doubled its global sales force
this year as it aggressively executes a plan to deliver on key growth and
customer service milestones.
This latest recruitment round sees Wynyard Group bolstering its global
Government and Financial Services sales capability with six senior sales
appointments.
In the United Kingdom, Wynyard has recruited Stephen Gorman as Sales Director
Government. Gorman brings extensive risk management and intelligence
technology knowledge of the UK public sector.
In the United States, Wynyard has made three key appointments. Kyle Lamborn
has been appointed Director of Federal and State Programs based in Washington
DC. Lamborn has a deep knowledge of the US government sector for fraud and
compliance solutions. Wynyard has also recruited Tim Rush and Mark Kusiak as
sales Directors for the west coast and mid-west respectively. Rush and Kusiak
are both seasoned sales executives with financial services sector experience
in banking, insurance and capital markets.
In Australia, Wynyard has appointed Barney Mulcare, who has a 30 history of
delivering technology solutions to Government agencies and joins the team as
Sales Director Government.
Wynyard has also appointed highly respected and ex-law enforcement advisor
Mike Cavanagh to manage growth opportunities in Asia. Cavanagh has been
appointed Sales Director for Asia and will be based in Bangkok, close to
Wynyard's established law enforcement customer base in the region.
Wynyard Managing Director, Craig Richardson, said the sales team had been
recruited from the ranks of well known multi-national software and services
companies bringing strong industry experience and networks across a Wynyard's
target government, financial services and critical infrastructure markets.
"We are delighted that such a high calibre and well-respected group of people
have chosen to lead Wynyard Group's growth.
"Wynyard has attracted some of the world's leading industry experts, data
scientists and software engineers and we are pleased to have such great new
talent join us to help execute our growth plan, expand our customer base and
deliver exceptional customer service."

Wynyard has a clear four-step global growth plan focused on expanding its
customer base through rapid innovation, extending its global direct sales and
partner distribution network and leveraging its specialisation in crime
science.

[baller18]

They have a good team in place, not sure if they are "world leading" but did a quick search on them and they have a lot of experience in their field, so that's a good thing...

[etrader]

Milford asset have snapped another percent of wyn, the smart money is slowly creeping up their stakes.

[baller18]

Milford asset have snapped another percent of wyn, the smart money is slowly creeping up their stakes.
You see a bright future for Wynyard etrader?
I'm already in..
Milford is real bullish on this stock eh

[baller18]

Very tempted if I wasn't already locked into another stock!
Let me guess, DIL!!! LOL!

[CJ]

Been holding DIL for over 4 months now, couldn't be happier :) :t_up:You could be if you'd been holding for 3 years ;)

[baller18]

Was barely even in the game 3 years ago CJ. Full-time jobs help to fund the habit and all. I'm happy with where I am now and where we are going. Give it another 3 years and I'm sure I will be much, much happier ;)
I think Wynyard might be better than Dil in 3 years time moosie... lol

[CJ]

Who says you can't own both?Definately not me!

Disc: Hold both. (Alot more DIL though)

[enzed staffy]

Whats going on with Wynyard? not having a happy time

[CJ]

Moosies right - traders getting bored and moving their money out. FA (and TA) will wait for the next bit of news before buying in.

[Scottman]

I certainly expected this. Moosie is right. Short termers get impatient very quickly. It takes time to build a global company so expect the downtrend. A great buying opportunity for those that can see the potential & are willing to be patient.

[enzed staffy]

yes - I considered the impact of Xero -WYN been drifting down for last 6-8 weeks on quite low volumes