I cannot see Milford is holding any WYN atm. Even if they do, must be minor. I am with Milford and not worried at all. Unit price $2.9290 and keep rising. :)
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From Milfords March report
"The Fund was also negativelyimpacted by Wynyard’s 41.5% share price decline, from $1.60 to $0.94, duringthe month.
As individual stock selection is important Wynyard’s performance during themonth was extremely disappointing.
On 11 November the company announced that it would be askingshareholders to approve the issue of new shares at $2.00 each to raise $30million. Its share price was $1.38 at the time. Wynyard said it was confident ofraising $30 million at a minimum of $2.00 a share.
The company made a major mistake by announcing that it would raise newcapital without having unconditional contracts with investors. It also made amajor mistake by not appointing an investment bank to assist it. Wynyard hasgood potential but it cannot afford another mistake like this. "
Maybe the shares are worth so little now they are hidden at the bottom of Milfords pile :scared:
Jeez. I just read glassdoor reviews. It appears they just threw out half of their developers, you know the ones that make their product, leaving only hapless management and people not willing to rock the boat.
If you still have money in this thing, my advise is to run while its still worth something. Messages from the inside speak of workplace cronyism/bullying/nepotism, a broken morale, developers forced to create software that nobody wants, management that has burned all shareholders money in snakeoil projects and a product that doesn't do what they say it does.
https://www.glassdoor.com/Reviews/Wy...E895449_P2.htm
You will need a login to glassdoor to see them, here is a small taste:
Doesn't Recommend
Negative Outlook
Disapproves of CEO
I worked at Wynyard Group full-time (More than a year)
Pros
You will be forced to learn a lot quickly. There are a few good people working in every region, but you don't need to ruin your career by working here to meet them.
Cons
The products aren't what is marketed, not even close. Training is non existent. Documentation isn't there. As an SA your day job includes doing miracle demos to get deals across the line for sales teams who refuse to listen to you about the immaturity of the products, all the while pretending bugs in the system are you pressing the wrong button! You have to look police in the eye and tell them the software will solve their problems.
This company is really Jade with slicker branding. The senior managers are all Jade or Methodware and so is their knowledge of technology and even sales. They are so out of their depth it's staggering.
Wynyard is an R&D company not a sales company. I think that's why it's wasted so much shareholder money. They keep launching product developments to keep egos happy, but they're not anything sales have asked for and so they don't sell. Despite this they just don't build the basics properly. Have a try before you buy! It's obvious.
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Advice to Management
If you keep doing the same thing you'll keep getting the same results, maybe it's time to listen to the people asking for software they can sell with a straight face.
Someone actually posted that they would rather post they would "rather have incarcerated than Wynyard on my linkedin profile".
Run far, run fast. They are unlikely to recruit any talent to right the ship. Unless there is a complete flush out of management and jade hangover staff that have a 1990s mindset for developing software, it appears to be a sinking ship. There is also talk of having buying sales, which if true is not something a shareholder would like to hear.
Is this the end for WYN? Down to 35 now and no support in sight. Interesting what can be inferred from announcements such as yesterday's one.
Someone bidding 50,000 @0.05, that's quite demoralising isn't it??