I agree moimoi! I love the fundamentals of this company, but management need to understand what we get in this capital raise, will it benefit shareholders?
Shareholders Association warns Wynyard motion would give company 'carte blanche'
"Software company Wynyard's latest effort to raise extra capital has run into opposition from the Shareholders Association.
Hawkins doubted the Shareholders Association's opposition alone would derail the vote, which is due to be held next Thursday, saying institutional shareholders had "their own drivers".
"Our concern is all about fairness. Regardless of whether or not we affect the vote, we want to raise the issue. We don't want companies going down this path – there are better ways of doing it," he said."
They report on the history of the recent capital rising attempts (all well known) and quote "independent corporate finance analyst Sam Stewart, formally of KPMG" that the planned fund rising exercise of $30 million might be insufficient for the companies needs. He believes that they will need at least 45 to 60 million dollars for the next 18 months given their current cash burn of something like $4 million per month).
They indicate as well that a number of share holders are annoyed that the planned CR for $2 per share is now turning into a highly dilutive exercise.
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"Prediction is very difficult, especially about the future" (Niels Bohr)
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Originally Posted by blobbles
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