Wynyard details capital raising plan

MARTA STEEMAN
Last updated 10:24 31/03/2014
 Wynyard Group, CEO Craig Richardson
Phil Doyle /Fairfax Media
Wynyard CEO Craig Richardson

Relevant offers

Industries

Volvo's 'Iron Knight' is world's fastest truck Trade week aims to help plug New Zealand skill shortage Hamilton mayoral hopeful Chris Simpson talks growth Trade Me plays down FindSomeone vulnerability Households using less power a challenge for electricity industry: Vector Raglan residents to Westpac: Communities like ours matter Looking back on Air NZ's more turbulent moments Xero may accommodate charities frustrated by lack of reporting template Air NZ boss Christopher Luxon says misbehaving staff 'let us down' No hiding from true content of duvets, Rotorua businessman finds

Shareholders in crime analytics software firm Wynyard may buy more shares in the company at a maximum price of $2.70.

The company this morning issued details of its share-purchase plan, which is part of a $35 million capital raising.

Wynyard intends to raise $5m from shareholders through the "Share Purchase Plan" in addition to the $30m already raised through placing shares with institutional shareholder and wealthy investors.

Wynyard will use the new capital to bring forward key initiatives in its growth plan. It plans to beef up its direct sales and professional services teams, its Crime Science Research Centre and its partnership programmes with technology companies.

The increased effort is weighted towards opportunities the company sees for its products in the United States justice sector.

Shareholders may apply for share parcels in multiples of 500, and may buy a maximum of $15,000.

The price of the shares will be the lower of $2.70, the price institutions paid and the average closing price of Wynyard shares on the NZX over the five business days before and including the closing date of the SPP, April 16, the company said.

Wynyard shares last traded at $2.97.

The company listed on the NZX in July last year, issuing shares to the public at $1.15 each.

It has offices in the United Kingdom, United States, Canada, United Arab Emirates, Australia and New Zealand.

Ad Feedback

- Fairfax Media

Special offers

Featured Promotions

Sponsored Content