Wynyard Group capital raising?

[moimoi]

To be fair, the terms of the credit facility were publicly available too. 23% interest should've been a clue that Wynyard's future was pretty risky!

Possibly pretty much a market interest rate for a 1 year unsecured overdraft to a company with what turned out to be no tangible assets.

[Baa_Baa]

Possibly pretty much a market interest rate for a 1 year unsecured overdraft to a company with what turned out to be no tangible assets.

Yes, easy with hindsight. One must feel for the folks who got caught up in WYN's constant hype and misinformation right to the bitter end, particularly those who don't have the nous or experience to decipher the language of market 'disclosures' (Tui Ad).

As a TA jockey I was out well before it hurt, still didn't make a net cent, lost only trading fees, but what surprises me the most is that some apparently very astute investors (not necessarily ST members) rode their ponies into the ground as well, so some thin solace there that even as minion, there is some comfort in the company of burnt big money names. Still must hurt though, can't get away from that, rich or not.

All in all it's a terrible outcome, another sad ending to a NZ tech led by incompetent and overly optimistic decietful liars who are prepared to brave it out to the bitter end, well beyond when the inevitable is escapable, although not obvious to shareholders, forsaking those shareholders confidence and investment on the most vague and unlikely promises that "it'll be right".

Digging a little deeper, one should imo look into who the Chair and Directors were that chaperoned this journey yet escaped the inevitable morass in the nick of time, leaving the fallout to the next wave of hapless Directors that appear equally as or more incompetent, but also as ill-formed and inept as the investors who who didn't know any better.

Sad. Very sad. There's nothing to recover here, save for the Class Action suit which seems a long shot given no case precedents, but maybe worth a shot eh? Can't see this boding well for future Tech listings either, let alone current listings. No wonder NZ Tech is an unloved, distrusted, maligned and highly risky sector for NZX/AX/XT investors. Caveat Emptor.

[kiora]

Yes, easy with hindsight. One must feel for the folks who got caught up in WYN's constant hype and misinformation right to the bitter end, particularly those who don't have the nous or experience to decipher the language of market 'disclosures' (Tui Ad).

As a TA jockey I was out well before it hurt, still didn't make a net cent, lost only trading fees, but what surprises me the most is that some apparently very astute investors (not necessarily ST members) rode their ponies into the ground as well, so some thin solace there that even as minion, there is some comfort in the company of burnt big money names. Still must hurt though, can't get away from that, rich or not.

All in all it's a terrible outcome, another sad ending to a NZ tech led by incompetent and overly optimistic decietful liars who are prepared to brave it out to the bitter end, well beyond when the inevitable is escapable, although not obvious to shareholders, forsaking those shareholders confidence and investment on the most vague and unlikely promises that "it'll be right".

Digging a little deeper, one should imo look into who the Chair and Directors were that chaperoned this journey yet escaped the inevitable morass in the nick of time, leaving the fallout to the next wave of hapless Directors that appear equally as or more incompetent, but also as ill-formed and inept as the investors who who didn't know any better.

Sad. Very sad. There's nothing to recover here, save for the Class Action suit which seems a long shot given no case precedents, but maybe worth a shot eh? Can't see this boding well for future Tech listings either, let alone current listings. No wonder NZ Tech is an unloved, distrusted, maligned and highly risky sector for NZX/AX/XT investors. Caveat Emptor.

Well said BB.very sad.NZ needs spec investors.Hopefully they have spread their risks.There is some very good tech companies from NZ Inc

[Hoop]

NZ disclosure laws should be re-examined

[RupertBear]

Has anyone else joined the Class Action group? If so have you heard anything from them? I joined on line a while ago but I havnt heard a word from them. Not even sure if they got my application or if the group even exists? Anyone know anything?

[forest]

I have joined like you without getting any conformation of what is to happen from hear.

[Ggcc]

Most likely nothing will come from it. The lawyers of the insurance companies are probably finding the directors have escape clauses.

[RupertBear]

Most likely nothing will come from it. The lawyers of the insurance companies are probably finding the directors have escape clauses.

Yes I fear you are right. I still cant believe everyones investment in this company is gone. Gutted.

[Mista_Trix]

You might want to get rid of that post, you've just made someone personally identifiable (wouldn't be that difficult) and publicised their 'opinion' probably without their permission. Not the best move.

[Vish]

opps sorry, thanks for pointing it out.