Wynyard Group capital raising?

[moimoi]

Perhaps the proxies received were overwhelmingly against the resolution hence the cancellation of the meeting.

You have to wonder how a placement offer of $2+ can evaporate so quickly. Wasn't a fax message regarding assistance with an inheritance from Nigeria was it... ;-)

A rights issue needs to be made attractive to existing holders with a free attaching option or something..The 2 year share price performance hasn't been much fun for existing holders thats for sure..

[Harvey Specter]

Unlikely a rights issue will raise $30m either? My guess is they will raise a bit then try again later in the year.

[blobbles]

What's happening with this new announcement WYN? What will it be? Any clues?

[trackers]

So the last figures I can see shows the burn rate at $17mil per half, and they had $42mil as at end of June 2015, is that right?

[Everwood]

Wynyard has requested an extension of its trading halt and continues to work with advisors on its capital raise process. The company expects to be in a position to make an announcement on 23 February 2016 and will remain in a trading halt until it makes this announcement https://nzx.com/companies/WYN/announcements/277949

[winner69]

Wynyard has requested an extension of its trading halt and continues to work with advisors on its capital raise process. The company expects to be in a position to make an announcement on 23 February 2016 and will remain in a trading halt until it makes this announcement https://nzx.com/companies/WYN/announcements/277949

Do you think this is not going to be that favourable for small shareholders?

[Everwood]

Do you think this is not going to be that favourable for small shareholders?

I'm hoping it will be favourable for small shareholders, with the delay until Tuesday and the shareholders association getting involved in the discussion, I'm more likely to believe it could be good for small shareholders. I’m waiting for the announcement on Tuesday before deciding to hold or sell.

[Harvey Specter]

Do you think this is not going to be that favourable for small shareholders?

I'm guessing deeply discounted rights so good for shareholders - if yo have cash to pay up. NO doubt they are gauging interest from existing large shareholders.

[Baa_Baa]

I'm guessing deeply discounted rights so good for shareholders - if yo have cash to pay up. NO doubt they are gauging interest from existing large shareholders.

That's a big come down from a $2 placement for $30m. Are these guys in trouble, apart from with the shareholders assn?

[moimoi]

In the previous year, the full year financial results were announced to market on the 25th of Feb. They are intending to announce a capital raising once out of this trading halt on the 23rd which is 2 days prior to the the date that last years results came out.

Why not wait till after the results announcement?

It suggests the assessment of " the advisers" is that the financial results aren't great and potentially won't lead to share price appreciation and hence an ability to cap raise at a higher figure.

Nothing here but further dilution for non related shareholders....