Announcement marked price sensitive and regarding an extension of their loan facility - is this a way of a company technically fulfilling their duty giving a warning to investors without sounding overly dramatic?
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Announcement marked price sensitive and regarding an extension of their loan facility - is this a way of a company technically fulfilling their duty giving a warning to investors without sounding overly dramatic?
Just got credit facility upgraded to $2.5 million from $2 mill at the BNZ. So not substantial and nice to see that they are not needing to go back to the junk bond markets so big savings there.
Wow I am just going to stop paying any attention to market depth, it is very misleading.
Anyone planning to tune into the AGM tomorrow?
Virtual cookies of course
Apart from the Covid resiliency measures, key question in the AGM is bound to be around capital raising?
Question answered......see here.
Covid-19 an issue going forward, but still forecasting a profit......
Wellington’s Q1 result was an improvement on last year as the company successfully managed through the initial supply chain challenges caused by COVID-19. During Q2, the company has experienced much weaker sales estimated at around $5m for the 3 months ended 30 June 2020, compared to $17m for the same period in 2019. Nevertheless, Wellington expects to report an EBITDA profit of around $1m for the 6 months ended 30 June 2020, compared to $2.4m for the comparable period in 2019.
The key features of the Offer include:
• Raise approximately $5.4m through a 1:3 pro-rata renounceable rights issue at 5 cents per new share
• Rights will not be quoted or tradeable on the NZX. However, Eligible Shareholders are entitled to seek buyers for their rights off-market prior to the closing date of 16 July 2020
• The Offer closes on 16 July 2020 with the new shares issued by 22 July 2020
New capital at 5 cents pretty cheap ...should ensure they get their $5m
One day Wellington will be a ‘lucky’ company and actually do well.
I reckon my turn of the century Wellington reports would be worth more than 5 cents on trademe ...as a collectors item.
You'll be first in line to take up the offer Winner???...... or too busy selling off your old annual reports as collectors items?
Not this time ....resisted buying WDT shares many times over the years
Have a morbid fascination with the company since I spent a few hours being shown their operations many many years ago. Since then I’ve followed their progress (or lack of it) with fervour
Had a few good trades in the 00s ....but jeez they are one unlucky company
Guess what years Annual Report this came from
Mmmm...fun....love playing guessing games.... maybe well before I even started investing (this time round in 2012)...... how about 2000???
FWIW I put it on my watch list when WDT was 20c back in 2017...... the SP has lost 50% since then!! (Thankfully only on a watch list!)
[QUOTE=winner69;824895]....yep all $130m of capital almost all gone
There was some fandangled tech thing in 2003 which was going to be great for them ....and in 2011 some other fandangled thing ....and now being seduced by this fandangled by Internet of Things[/QUOTE
Hi Winner,
This is a very different company from the old one under Ross Green. Ross struggled to grasp the necessity of endeavouring to match the outgoings with income, other than by raising even more money from the long-suffering shareholders.
The current CEO Greg Allen has been in the job for a few years now. He has been very disciplined - every year he sets out a detailed plan for the business which is available for all to read in the company reports, and to his credit the company ticks off those targets. When he took over the company it was on it's knees. Had it not been for Covid-19 WDT would have had a very good year. We increased our investment in the company last year in anticipation of a much improved result - unfortunate timing.
I will be taking up the rights at 5 cents per share.
[QUOTE=Felonius;825015]Although not currently a holder - I agree.
The IoT growth is actually pretty clear in the reports and while I wasn't around for the initial disaster of this company previously I do really think had it not been for COVID WDT was in a good position and poised for somewhat of a stable trajectory. This has unfortunately been delayed.
I listened to the AGM, and thought they were putting in a sound plan that gave me a degree of confidence in the company’s future, and thought the management and team were committed and had skin in the game. Been watching from the sidelines for a number of years, and finally decided to dip my toe in this week.