Wynyard doesn't decide what is price sensitive, NZX does. Presumably to do with the rights issue in this case.
Printable View
Can someone with more reguralatory knowledge than me answer this question, Can a company raising capital through a rights issue have a two tiered financial structure for that issue as is the case with Wynyards current rights issue?
Why should some investors/participators have a 4% financial benefit over others?
A $2.5M committment fee to raise $30M @ a near 50% discount to last traded price.... For Real?? :-( :-(
Doesn't appear to be of much use to have First NZ Capital acting as arranger of the issue AND ""exclusive financial advisor to the business going forward"" if that is the best they can do.
Clearly beyond anyone on this Board to make 10 phone calls to the top 10 shareholders to see they'd be interested in taking up shares @ half price.
Ex the rights at the end of trading today.
Stinks of desperation, bleeding more cash more quickly than they realised and then were desperate.
http://www.chrislee.co.nz/taking-stock
Quite a bit on old Wynyard in here... may be of interest to sum
http://www.sharechat.co.nz/article/5...ar-early.html?
"Mutually decided to end the agreement" even when SFO changed the brief...