Surely CEO's position is untenable now....don't make it another RAK...Board need to move swiftly.
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Surely CEO's position is untenable now....don't make it another RAK...Board need to move swiftly.
Probably majority enough
Good test as to how they see the future eh
Directors allowing a company to continue trading while 'insolvent' not a good look is it - criminal in fact- Not that I'm saying they are insolvent
Tough time for the Independent Directors
Cisco to the rescue?
Certainly a good test ... though makes you wonder why they need a week to ponder about their financial position ...
Re CISCO ... not sure, whether they are in big data analysis - I thought they are still more in selling quite powerful hardware?
However - IBM and Microsoft are in the game ... as well as a number of more specialised companies (e.g. The Predictive Policing company). Not sure, though whether Wynyard has anything they need.
But anyway, if the WYN products are good (and IF they hold comprehensive IP, than there likely will be a suitor happy to buy at least any IP (and maybe the company as well).
But are they? I don't know.
The draw down will be a tough sell.. If they're losing a couple mil a month and even if they are able to meet the conditions of it (which I doubt), if they don't repay the loan its secured against the assets of the company...which is what? Its IP? Skipton could end up with the whole thing.
A responsible board would look for a buyer asap
In order to draw down on the facility, certain conditions must be met,
including that the Wynyard board must be confident that the company can enter
into transactions sufficient to repay any amount drawn down under the
facility. Proceeds of transactions must be applied to repayment of any
outstanding amounts under the facility. The facility also provides for
certain financial covenants to be met and for certain negative undertakings
to be given.
Jade had a good year, just shows what you can do when you sell off the rubbish part of the business.
Dunno if that's fair fellas. Jade didn't have the cash to give it the investment it needed, it wasn't a hospital pass - Wynyard had plenty of chances to get it right.
Problem is, when you start to scale up numbers of staff and offices massively (costs), your revenue has to scale up proportionally (see Xero) or eventually you'll fall off the edge of a cliff
With all this uncertainty surrounding this share, one can only wonder how there can be buy orders for 30C and 25 C respectively
Lol, when it's in a trading halt, you can do whatever you like.
Anyway, once it comes out of the halt, it's in the pre-open auction period, so highest price only determines order of fill, not the traded price.