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  1. #1331
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    Quote Originally Posted by Harvey Specter View Post
    So is the discount only on additional shares taken up or on their pro-rata right as well. I guess it is effectively an underwrite fee with no obligation - why offer it? And how big a shareholder do you have to be to benefit?
    I hope I read that right. When Wynyard issue the news that major shareholders (probably only Skipton) made a commitment to take up the rights and any oversubscriptions, that effectively cost the company the effective underwriting costs. They make mention of oversubscription. What does that mean, what is the extent that Skipton will be buying shares at the discounted rate over and above their pro rata shares?

  2. #1332
    Speedy Az winner69's Avatar
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    Quote Originally Posted by Harvey Specter View Post
    So is the discount only on additional shares taken up or on their pro-rata right as well. I guess it is effectively an underwrite fee with no obligation - why offer it? And how big a shareholder do you have to be to benefit?
    I read (the waiver notice) it as the fee applies to all shares taken up by Skipton (and now others)
    Last edited by winner69; 02-03-2016 at 01:29 PM.
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  3. #1333
    Senior Member moimoi's Avatar
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    9. The Fee has been offered, and agreed to be paid, to each shareholder that has entered into a Commitment Letter and fulfils its obligations under the Commitment Letter.

    Could someone please advise where do we send our commitment letters...?

    Ta
    Moi.

  4. #1334
    Speedy Az winner69's Avatar
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    Quote Originally Posted by moimoi View Post
    9. The Fee has been offered, and agreed to be paid, to each shareholder that has entered into a Commitment Letter and fulfils its obligations under the Commitment Letter.

    Could someone please advise where do we send our commitment letters...?

    Ta
    Moi.
    I'm sure the letter to Moimoi Funds Management Ltd (with $550m under management) is already in the mail
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  5. #1335
    Speedy Az winner69's Avatar
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    Announcement out of London

    with a mix of SECSaaS, SOC, ACTA, MSSPs and ACTA minimum income to Wynard $3m

    Didn't really understand what it meant but must be good
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  6. #1336
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    Is this timing or WHAT !

  7. #1337
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    Quote Originally Posted by whatsup View Post
    Is this timing or WHAT !
    Probably won't be able to be recognized...

  8. #1338
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    Quote Originally Posted by whatsup View Post
    Is this timing or WHAT !
    Well - 3.3m over what time frame? Is this $NZ? $US? East Caribbean Dollars? Is the income bookable this financial year? over multiple years? Does the contract still need "ratification"? What conditions are attached to them receiving this income?

    Sort of sad that a "market leader" dealing with plenty of the world "largest whatevers" decides to mark an announcement about signing a 3.3m contract as "price sensitive", but I guess at the moment they are grasping for straws ...
    ----
    "Prediction is very difficult, especially about the future" (Niels Bohr)

  9. #1339
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    I wonder what their costs are in meeting this contract for 3.3 mil. It may be more than the 3.3.
    It is not like Wynyard write the software once and then just sell it an unlimited number of times. There will be a lot of cost in tailoring the software to the clients needs.

  10. #1340
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    Probably a contract over three years, as all the others. I wonder if there is any clauses in the contracts for the client to "get out" within the period. Or any other penalty or non performance clauses.

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