Wynyard: Investor Update - March 2014
Posted: 22 May 2014
Wynyard Group Limited (“Wynyard” or “the Company”) is undertaking a capital raising consisting of a:
- Placement of new equity to targeted institutional investors of approximately $30 million; and
- Share Purchase Plan to raise up to $5 million
- UBS New Zealand Limited is acting as placement agent for the capital raising
- New capital to be used to accelerate Wynyard's global growth strategy which will require an additonal investment of $18 million across FY2014-FY15 and funds to continue the momentum in FY2016.
- The accelerated global growth strategy will enable Wynyard to target c.$47 million of revenue in FY2015