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  1. #2011
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    Quote Originally Posted by RupertBear View Post

    "Because "a small distribution for shareholders is now foreseeable," Jackson and Graham want investors to provide them with updated contact details"

    Hmm who exactly do we provide our contact details to?
    I anticipate they will send information to us like what they did throughout this process, by snail mail.

  2. #2012
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    Quote Originally Posted by Ggcc View Post
    I anticipate they will send information to us like what they did throughout this process, by snail mail.
    I never heard a word from anyone......only what I read on line....

  3. #2013
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    Has anyone had any communications about this yet? I havnt but I have never heard a word from anyone ever so maybe they dont know I exist

  4. #2014
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    Quote Originally Posted by RupertBear View Post
    Has anyone had any communications about this yet? I havnt but I have never heard a word from anyone ever so maybe they dont know I exist
    Sent you a message

  5. #2015
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    Letter from the NZSA to the Prime Minister pointing out serious failures of our market authorities and signifcant delays for stakeholders to access justice in the case of CBL and WYN. Justice delayed is justice denied. The NZSA asks the Prime Miinister for action:

    https://www.nzshareholders.co.nz/pdf...r%20110918.pdf

    Not sure I hold my breath, but good on the NZSA for trying!
    ----
    "Prediction is very difficult, especially about the future" (Niels Bohr)

  6. #2016
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    Quote Originally Posted by BlackPeter View Post
    Letter from the NZSA to the Prime Minister pointing out serious failures of our market authorities and signifcant delays for stakeholders to access justice in the case of CBL and WYN. Justice delayed is justice denied. The NZSA asks the Prime Miinister for action:

    https://www.nzshareholders.co.nz/pdf...r%20110918.pdf

    Not sure I hold my breath, but good on the NZSA for trying!
    Thanks for sharing. Great to see someone is trying to do something

  7. #2017
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    Looks like FMA finished their investigations:

    The Financial Markets Authority (FMA) today published the findings of its investigation into Wynyard Group Limited’s (Wynyard) compliance with continuous disclosure and fair dealing obligations.

    Following Wynyard’s failure in October 2016, the FMA and NZX undertook an investigation into the conduct of the company and its directors.

    Based on our investigation:

    the FMA does not consider that any individuals contravened the Financial Markets Conduct Act 2013 (FMC Act)
    the FMA has concerns regarding the quality of some of Wynyard's announcements, but it is not clear to us that we could establish a breach of the fair dealing provisions
    the FMA does continue to have concerns that Wynyard may have contravened its continuous disclosure obligation in late September 2016.
    Here is the full report: https://fma.govt.nz/news-and-resourc...full%20release

    [\Irony on]
    Great that we can afford such pristine systems and authorities to protect ourselves - isn't it?

    All must be good.
    [\Irony off]

    Anybody could remind me why we pay for all these authorities? Welcome to the Wild West ...
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  8. #2018
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    Quote Originally Posted by BlackPeter View Post
    Looks like FMA finished their investigations:



    Here is the full report: https://fma.govt.nz/news-and-resourc...full%20release

    [\Irony on]
    Great that we can afford such pristine systems and authorities to protect ourselves - isn't it?

    All must be good.
    [\Irony off]

    Anybody could remind me why we pay for all these authorities? Welcome to the Wild West ...
    I wonder if they will come to the same conclusion with CBL !!!

  9. #2019
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    Quote Originally Posted by BlackPeter View Post
    Looks like FMA finished their investigations:



    Here is the full report: https://fma.govt.nz/news-and-resourc...full%20release

    [\Irony on]
    Great that we can afford such pristine systems and authorities to protect ourselves - isn't it?

    All must be good.
    [\Irony off]

    Anybody could remind me why we pay for all these authorities? Welcome to the Wild West ...
    It is the Neoliberal influence, which was pervasive under Key and the National government. The state should not interfere in the markets. It should get out of the way of the private enterprise and “entrepreneurs.” Although there are laws to protect people the government departments tasked to enforce these laws are under-resourced or given the message by the politicians not to interfere as in the case with WOF and NZTA (laissez faire regime = neoliberalism.)

    https://www.stuff.co.nz/business/108...-investigation
    The future of the New Zealand Transport agency and senior executives hangs in the balance as the Government brings in a sweeping review.
    The laissez faire regime has been overturned - Transport Minister Phil Twyford says the review covers everything the agency is in charge of, including driver testing, licenses, freight licences, warrants of fitness, registration, heavy vehicle permits, speed management, rail safety, "and any other relevant statutory functions".

    I found it hard to find a good definition of neoliberalism, to understand what it actually involved. Wikipedia wasn’t helpful but this site gives a clearer understanding.

    https://corpwatch.org/article/what-neoliberalism
    The main points of neo-liberalism include:
    1. THE RULE OF THE MARKET. Liberating "free" enterprise or private enterprise from any bonds imposed by the government (the state) no matter how much social damage this causes.
    2. DEREGULATION. Reduce government regulation of everything that could diminish profits, including protecting the environment and safety on the job.
    3. ELIMINATING THE CONCEPT OF "THE PUBLIC GOOD" or "COMMUNITY" and replacing it with "individual responsibility." i.e. blaming people if they fail, your fault if you invested in Wynard you didn’t do your research well because you were either ‘stupid or lazy” = buyer beware, rather than seeing it as a systemic problem.

    In his book A Brief History of Neoliberalism David Harvey argues that neoliberalism is a form of political economy that strives to accomplish only one mission: to restore the class power of the global economic elite.
    http://www.inquiriesjournal.com/arti...id-harvey-2005

  10. #2020
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    Quote Originally Posted by Ggcc View Post
    I anticipate they will send information to us like what they did throughout this process, by snail mail.
    And by snail mail, I presume you mean they sticky taped a note to an actual snail and sent it on its way to you.

  11. #2021
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    Quote Originally Posted by kyanar View Post
    And by snail mail, I presume you mean they sticky taped a note to an actual snail and sent it on its way to you.
    Well if they did my snail is either very very slow or it has gotten lost because I have never recieved any information from them

  12. #2022
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    Just had a meeting close to the (as I found out previous) Jade headquarters (remember - the company "creating" our amazing Wynyard and cashing in most of the proceeds from the WYN listing ...). They used to be housed in a quite flash glass palace in the Christchurch Technology Park close to the airport.

    I had a bit of time and went off for a walk ... and was quite surprised to find out that the flash building (still standing) is now home to a cafe and (next to others) some sort of private education provider. The Jade insignia disappeared - but a "for sale" sign is now in front of the building - just incase somebody is interested in buying a very representative building - might be cheap?

    The once proud Jade moved on some quarters - and sits now in a quite smallish and (certainly under the harsh sunlight) run down looking two story building at the end of the road. Sounds like they lost (or probably had ot let go) more than half of their staff as well.

    Maybe there is some sort of divine justice after all?
    ----
    "Prediction is very difficult, especially about the future" (Niels Bohr)

  13. #2023
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    Quote Originally Posted by BlackPeter View Post
    Just had a meeting close to the (as I found out previous) Jade headquarters (remember - the company "creating" our amazing Wynyard and cashing in most of the proceeds from the WYN listing ...). They used to be housed in a quite flash glass palace in the Christchurch Technology Park close to the airport.

    I had a bit of time and went off for a walk ... and was quite surprised to find out that the flash building (still standing) is now home to a cafe and (next to others) some sort of private education provider. The Jade insignia disappeared - but a "for sale" sign is now in front of the building - just incase somebody is interested in buying a very representative building - might be cheap?

    The once proud Jade moved on some quarters - and sits now in a quite smallish and (certainly under the harsh sunlight) run down looking two story building at the end of the road. Sounds like they lost (or probably had ot let go) more than half of their staff as well.

    Maybe there is some sort of divine justice after all?
    Was thinking about this thread today and thought when do we get our small reimbursement for that lovely failed company. Of course we were told it may happen and not a guarantee........ I met someone yesterday who used Wynyard’s failure as her case study in finance for how not to do business.

  14. #2024
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    Anyone else get an email from KordaMentha?

    'Subject to the final resolution of certain matters, we also
    anticipate there may be a very small amount of funds available to be distributed to shareholders.'

    Fingers crossed but not hoping... just wonder how very small that amount might be.

  15. #2025
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    Quote Originally Posted by Vish View Post
    Anyone else get an email from KordaMentha?

    'Subject to the final resolution of certain matters, we also
    anticipate there may be a very small amount of funds available to be distributed to shareholders.'

    Fingers crossed but not hoping... just wonder how very small that amount might be.
    I gave up hoping for anything back from my disasterous investment in Wynyard a long time ago. If they say there may be a very small amount of funds available I suspect that means we might see a very very very small amount distributed to us. I am thinking a chocolate topped icecream amount

    PS I think we will be lucky to get 1% of our investment back, if we got anywhere near 10% I would be pretty excited, anything more than that and I would probably break out in a smile
    Last edited by RupertBear; 12-03-2019 at 02:56 PM.

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