Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Sam Morgan builds 5% stake in Wynyard Group

Sam Morgan builds 5% stake in Wynyard Group

By Paul McBeth

Aug. 14 (BusinessDesk) - Sam Morgan, who made his fortune when Trade Me was sold to Fairfax Media, has built a substantial shareholding in security software developer Wynyard Group after buying on-market yesterday.

Morgan's Jasmine Investment Holdings No. 4 Ltd bought 250,000 shares on market yesterday, taking his total stake in Wynyard to about 5.84 million shares, or 5.04 percent of the firm, according to a notice to the NZX. While no price was put on the deal, Reuters data shows 250,000 shares were bought at $1.90 yesterday, for $475,000.

The shares fell 1 percent to $1.90 today, and are up 66 percent this year, having pared bigger gains during a global sell-off of software and biotech stocks.

Morgan was already one of the bigger shareholders in Wynyard, having participated in last year's $65 million initial public offer, and was recorded as holding 2.96 percent as at Feb. 28, according to the company's 2013 annual report.

Wynyard is chasing growth by seeking bigger deals with greater opportunity for expansion, and is also investigating the "potential for targeted acquisitions to accelerate market penetration and capture market share," it said at its annual general meeting.

The intelligence software developer raised $35 million in March in an institutional placement and share purchase plan to fund its growth aspirations.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Cosmetics & Pollution: Proposal To Ban Microbeads

Cosmetic products containing microbeads will be banned under a proposal announced by the Minister for the Environment today. Marine scientists have been advocating for a ban on the microplastics, which have been found to quickly enter waterways and harm marine life. More>>

ALSO:

NIWA: 2016 New Zealand’s Warmest Year On Record

Annual temperatures were above average (0.51°C to 1.20°C above the annual average) throughout the country, with very few locations observing near average temperatures (within 0.5°C of the annual average) or lower. The year 2016 was the warmest on record for New Zealand, based on NIWA’s seven-station series which begins in 1909. More>>

ALSO:

Farewell 2016: NZ Economy Flies Through 2016's Political Curveballs

Dec. 23 (BusinessDesk) - New Zealand's economy batted away some curly political curveballs of 2016 to end the year on a high note, with its twin planks of a booming construction sector and rampant tourism soon to be joined by a resurgent dairy industry. More>>

ALSO:


NZ Economy: More Growth Than Expected In 3rd Qtr

Dec. 22 (BusinessDesk) - New Zealand's economy grew at a faster pace than expected in the September quarter as a booming construction sector continued to underpin activity, spilling over into related building services, and was bolstered by tourism and transport ... More>>

  • NZ Govt - Solid growth for NZ despite fragile world economy
  • NZ Council of Trade Unions - Government needs to ensure economy raises living standards
  • KiwiRail Goes Deisel: Cans electric trains on partially electrified North Island trunkline

    Dec. 21 (BusinessDesk) – KiwiRail, the state-owned rail and freight operator, said a small fleet of electric trains on New Zealand’s North Island would be phased out over the next two years and replaced with diesel locomotives. More>>

  • KiwiRail - KiwiRail announces fleet decision on North Island line
  • Greens - Ditching electric trains massive step backwards
  • Labour - Bill English turns ‘Think Big’ into ‘Think Backwards’
  • First Union - Train drivers condemn KiwiRail’s return to “dirty diesel”
  • NZ First - KiwiRail Going Backwards for Xmas
  • NIWA: The Year's Top Science Findings

    Since 1972 NIWA has operated a Clean Air Monitoring Station at Baring Head, near Wellington... In June, Baring Head’s carbon dioxide readings officially passed 400 parts per million (ppm), a level last reached more than three million years ago. More>>

    ALSO:

    Get More From Scoop

     
     
     
     
     
     
     
     
    Business
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news