Wynyard Group capital raising?

[sb9]

Couldn't really say we think punters are getting a bit peeved with us and selling out could they?

Gotta love CEO's enthusiasm...
"On 20 June 2016, we indicated initiatives were underway to manage the potential of
revenue timing risks. Whilst we have nothing to disclose at this time, progress on
these initiatives has been made and we will continue to keep the market informed.
Yours sincerely,
Craig Richardson"

[RupertBear]

Gotta love CEO's enthusiasm...
"On 20 June 2016, we indicated initiatives were underway to manage the potential of
revenue timing risks. Whilst we have nothing to disclose at this time, progress on
these initiatives has been made and we will continue to keep the market informed.
Yours sincerely,
Craig Richardson"

"Progress on these initiatives has been made" almost sounds promising

[moimoi]

"Progress on these initiatives has been made" almost sounds promising

What so they have approached an invoice factoring company....??? ;-)

[golden city]

This is strange siuation

[warthog]

Didn't Mr Morgan grab a good chunk of WYN at $1.80 sometime last year.

The hog can't be bothered checking.

WYN is off the hog's list on the basis of ETHICS.

WYN help governments of the world implement Orwellian surveillance policies targeting the wider population in a misguided and expensive crusade to "stop terrorism".

They are failing (governments and WYN), and will continue to do so as far as what the hog can see at the current point in time.

[King1212]

Help....SOS....Mayday..mayday..mayday......

[winner69]

Help....SOS....Mayday..mayday..mayday......

Hmmm - 8% drawdown and 15% pa interest

Hope like hell seems to be the new strategy

[BlackPeter]

Help....SOS....Mayday..mayday..mayday......

https://www.anzsecurities.co.nz/Dire...spx?id=4212577

Looks like markets see this as the beginning of the end - WYN is now grasping for straws. Just look at the conditions of the facility - which healthy company would be prepared to accept conditions like that?

The facility has a one-year term overall, with drawings available for a month
at a time (subject to rollover), and will be secured over the assets of the
company. The facility includes arrangement and commitment fees, and drawdown
fees of 8% and an interest rate of 15% p.a. on any amount drawn down.

Does this mean they pay on a one year facility first 8% when taking the money and on top of that 15% p.a.? This is 23% if taken out for a full year. Obviously - if they take the money for a shorter time frame it is still much more expensive - and this is not even considering the additional (not disclosed) arrangement and commitment fees.

[Bilbo]

https://www.anzsecurities.co.nz/Dire...spx?id=4212577

Looks like markets see this as the beginning of the end - WYN is now grasping for straws. Just look at the conditions of the facility - which healthy company would be prepared to accept conditions like that?



Does this mean they pay on a one year facility first 8% when taking the money and on top of that 15% p.a.? This is 23% if taken out for a full year. Obviously - if they take the money for a shorter time frame it is still much more expensive - and this is not even considering the additional (not disclosed) arrangement and commitment fees.

OK, so yesterday in response to the NZX price enquiry they said "On 20 June 2016, we indicated initiatives were underway to manage the potential ofrevenue timing risks. Whilst we have nothing to disclose at this time, progress onthese initiatives has been made and we will continue to keep the market informed."

I guess the facility is a way to "manage the potential of revenue timing risks". Was that agreed to overnight then, between the price enquiry response and this mornings announcement? Maybe some people had wind of this and were selling, hence the SP drop in the lead up.

[winner69]

https://www.anzsecurities.co.nz/Dire...spx?id=4212577

Looks like markets see this as the beginning of the end - WYN is now grasping for straws. Just look at the conditions of the facility - which healthy company would be prepared to accept conditions like that?



Does this mean they pay on a one year facility first 8% when taking the money and on top of that 15% p.a.? This is 23% if taken out for a full year. Obviously - if they take the money for a shorter time frame it is still much more expensive - and this is not even considering the additional (not disclosed) arrangement and commitment fees.

Wonder what a 'month at a time' means

If rolled over another 8%?

Whatever pretty desperate stuff

On the bright side it is only a facility - a backstop - might ever be taken up