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?
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"Prediction is very difficult, especially about the future" (Niels Bohr)
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.
'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.
'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 03:56 PM.
I’m trying to understand what went wrong with Wynyard (I wasn’t an investor but want to learn from them). I’d like to read their old annual reports, but they’re not on the NZX anymore. Anybody got a copy they could send me?
I’m trying to understand what went wrong with Wynyard (I wasn’t an investor but want to learn from them). I’d like to read their old annual reports, but they’re not on the NZX anymore. Anybody got a copy they could send me?
Make sure you read this entire thread too....a friend of mine lost most of 75k....I couldn’t convince them not to buy at the start, nor could I convince to sell on the way down because this ‘was going to be big’ and another friend of theirs put their house deposit into it (which was a sure guarantee to success).
I’m trying to understand what went wrong with Wynyard (I wasn’t an investor but want to learn from them). I’d like to read their old annual reports, but they’re not on the NZX anymore. Anybody got a copy they could send me?
Sorry I threw all my reports away. I think management were way out of their depth.
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