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

 

OceanaGold: Man Killed In Waihi Mine Accident

A 29-year-old man had died following a work place accident at OceanaGold mine, Waihi last night. The man was killed after the front end loader he was in rolled down a slope. The accident happened at approximately 6.30pm on Thursday night. More>>

ALSO:

Constructing Consent: Annual Housing Consents Highest In Over A Decade

More than 29,000 new homes gained building consent in the year to June 2016, up 16 percent from the previous June year, Statistics New Zealand said today. More>>

ALSO:

War Against Weevil For Future Peas: “No Peas, No Weevil” Ban Now In Place In Wairarapa

The Ministry for Primary Industries (MPI) has today placed a ban on growing peas within a specified area and placed controls on moving pea material (seed and untreated pea straw) within, in and out of this area for the next 2 years. More>>

ALSO:

Wood Producers: Crisis In New Zealand Log Supply

New Zealand wood processing leaders held a hui with senior government officials and political leaders in Whangarei yesterday to assess the acute log supply shortage to local mills in Northland. More>>

Consents And Taxes: Trustpower 'Very Disappointed' With Judgement

Trustpower is "very disappointed" with a Supreme Court ruling dismissing its bid to claim tax deductions on $17.7 million of project costs in a case closely watched by large-scale infrastructure developers. More>>

ALSO:

Fruitful Endeavours: Kiwifruit Exports Reach Record Levels

In June 2016, kiwifruit exports rose $105 million (47 percent) from June 2015 to reach $331 million, Statistics New Zealand said today. Overall, goods exports rose $109 million (2.6 percent) in June 2016 (to $4.3 billion). More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news