I have recently become a shareholder in Wynyard, so I hope $1.80 holds up around this price range. My entry point is several cents below the $1.80 price. I don't expect much movement in the price until the special meeting on 11th of December.
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Welcome aboard Everwood. Get yourself fastened for an interesting ride. Hopefully north haha. It seems a great company and is getting interest from different institutions willing to pay $2 per share (for now)! I am in for the long run on this one, unless it hits $40+ per share ala Xero within a couple of years (highly unlikely). I may just retire if it did though 😊...... Again highly unlikely!!!
A positive end to the week. The price held up well. Bring on next week hopefully with some great announcements.
Anyone aware of webcast/audio details for tomorrow?
11 December 2015, Auckland - Wynyard Group (NZX:WYN) announces that the resolution put to its special meeting of shareholders in Auckland today was passed.
The vote approves the issue of up to 15 million ordinary shares over the next 12 months at a minimum issue price of $2.00 per share. This would raise $30 million if all shares were issued at the minimum price.
I’m disappointed they are deferring any decision regarding a dual listing on the ASX until the New Year
I thought it was clearly stated in the announcement: "Recent amendments to the ASX listing rules provide a cost effective route to dual listing. However, Australian law is likely to restrict investors from trading shares issued in the three months following listing on the ASX. This will conflict with Wynyard’s capital raise plans.". Or, were you looking for the reasons behind the one stated?
So Aussie Institutional investors couldn't be relied upon to hold onto shares in the forthcoming capital raising for 3 months following a potential Aussie listing..
Perhaps then the company should avoid the dilutionary capital raising and offer some other instrument such as a convertible bond paying 6.5% p.a.?? to supportive existing shareholders. Some of whom may even be able to endure a longer time horizon than 3 months. ;-)
Set a record date for eligibilty to subscribe at a date in the future and lets see some buying on market for those that actually want to be involved in an evolving story.