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  1. #1361
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    Quote Originally Posted by sb9 View Post
    There's a good chance the price could go below the right issue price of 85c going by trading pattern.
    What a fool this outfit is giving the instos a special deal on the rights issue treating them with contempt and then expecting the dearly loyal S Hers to "do the right thing " and take up the rights, mugs if you ask me, all shers should have been treated equally, bring on the AGM that all I say !!

  2. #1362
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    Quote Originally Posted by blackcap View Post
    What would the implications be? Would those "pledging" to support the rights still do so? And if so are they in for the long term or will they look to offload once they have their shares? Interesting times ahead... maybe.
    I do not think it will go under the 85 cent mark before the rights are done now, too much at stake and similar to PEB, those instos with stakes will keep the rights in the money..... (just conjecture mind)
    They haven't "pledged". They are "bound" and they are being paid collectively over 2 million dollars in shares as "bondage fees"

    Auckland, 25 February 2016 - Wynyard Group (NZX:WYN) today announced it has
    binding commitments for the purchase of the full $30 million of shares under
    its anticipated rights offer.


    In connection with the Offer, Wynyard has agreed to issue in aggregate
    approximately 2.5 million ordinary shares as fees (representing around 1.38%
    of Wynyard's share capital following the issue of New Shares pursuant to the
    Offer). Those fees comprise:
    (i) fees due to existing shareholders who have provided commitments to take
    up all of their entitlement under the Offer and/or fees due to new investors
    who have provided commitments to take up any shortfall of New Shares under
    the Offer; and
    (ii) fees due to First NZ Capital Limited for work in connection with the
    Offer and for arranging those commitments.
    Last edited by biker; 09-03-2016 at 12:12 PM.

  3. #1363
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    Quote Originally Posted by biker View Post
    They haven't "pledged". They are "bound" and they are being paid collectively over 2 million dollars in shares as "bondage fees"

    Auckland, 25 February 2016 - Wynyard Group (NZX:WYN) today announced it has
    binding commitments for the purchase of the full $30 million of shares under
    its anticipated rights offer.


    In connection with the Offer, Wynyard has agreed to issue in aggregate
    approximately 2.5 million ordinary shares as fees (representing around 1.38%
    of Wynyard's share capital following the issue of New Shares pursuant to the
    Offer). Those fees comprise:
    (i) fees due to existing shareholders who have provided commitments to take
    up all of their entitlement under the Offer and/or fees due to new investors
    who have provided commitments to take up any shortfall of New Shares under
    the Offer; and
    (ii) fees due to First NZ Capital Limited for work in connection with the
    Offer and for arranging those commitments.
    Cheers Biker, thanks for fixing that up. So even if price falls to under 85 they still have to take up rights? So in effect it is underwritten isn't it. That does bode well for WYN in the short term then, not sure if it bodes well for the insto's doing the underwriting.

  4. #1364
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    Quote Originally Posted by sb9 View Post
    There's a good chance the price could go below the right issue price of 85c going by trading pattern.
    There we've it, closed at 84c. Dare I say we might see even lower levels in days ahead?

  5. #1365
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    Quote Originally Posted by sb9 View Post
    There we've it, closed at 84c. Dare I say we might see even lower levels in days ahead?
    Could well do but was happy to buy at 84c at the close of play

  6. #1366
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    Quote Originally Posted by blackcap View Post
    Cheers Biker, thanks for fixing that up. So even if price falls to under 85 they still have to take up rights? So in effect it is underwritten isn't it. That does bode well for WYN in the short term then, not sure if it bodes well for the insto's doing the underwriting.
    Yes, and there could be an overhang for a while but if they continue to grow rapidly it may be short lived.

  7. #1367
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    Potential to catch a falling knife here, what's your number? 80c? 60c? (hopefully not the latter for current holders!)

  8. #1368
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    Even a dog has its day. I dipped my foot in the water at 85c.

  9. #1369
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    I am on board at 85c

  10. #1370
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    "Major shareholders of Wynyard Group will effectively get a further 4 per cent discount ... Taking this into account, the price would effectively be 81.6c." http://www.4-traders.com/WYNYARD-GRO...ffer-21996658/

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