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


Windflow Technology Share Purchase Plan

19 October 2011

Windflow Technology Share Purchase Plan

Windflow Technology is pleased to announce that an underwrite has been obtained for the Share Purchase Plan SPP which closes tomorrow Thursday 20th October.

The Directors assessed that they require a total of $2.0 million from the SPP and/or new cash or commitments from other sources in order for Windflow to carry out its proposed course of action and remain solvent at least through until June 2012, during which time it expects to generate new sources of revenue.

The total raised to date is approximately $1.6 million and it is likely that significant further investments will be made today and tomorrow.

Accordingly one of Windflow's shareholders has advised that he will subscribe for any remaining shares required to take the total from the SPP and private placements to $2.0 million.

In addition the shareholder is offering to provide finance by way of loans secured against turbines to be installed in the UK. This offer is for up to £1.65 million to provide majority funding of the first three turbines to be installed in the UK. It is subject to final project agreements being concluded for three projects in Windflow's UK pipeline.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Stats NZ: Unemployment Declines As Underutilisation Rises

The seasonally adjusted unemployment rate decreased to 4.7 percent in the March 2021 quarter, continuing to fall from its recent peak of 5.2 percent in the September 2020 quarter but remaining high compared with recent years, Stats NZ said today. ... More>>


Digitl: The Story Behind Vodafone’s FibreX Court Ruling

Vodafone’s FibreX service was in the news this week. What is the story behind the Fair Trading Act court case? More>>

Commerce Commission: Vodafone Found Guilty Of Misleading Conduct Over 'FibreX' Service

Vodafone NZ Limited has been found guilty of engaging in conduct that was liable to mislead consumers in relation to its FibreX branded broadband service. In a case brought by the Commerce Commission and heard last year, the Auckland District Court ... More>>

Westpac: Announces Strong Financial Result

Westpac New Zealand (Westpac NZ) [i] says a strong half-year financial result has been driven by better than expected economic conditions. Chief Executive David McLean said while the global COVID-19 pandemic was far from over, the financial effect on ... More>>

MYOB: SME Confidence In Economic Performance Still Cautious

New insights from the annual MYOB Business Monitor have shown the SME sector is still cautious about the potential for further economic recovery, with two-in-five (41%) expecting the New Zealand economy to decline this year. The latest research ... More>>

Tourism Industry Aotearoa: Trans-Tasman Bubble Benefits NZ

More people have entered New Zealand than have left since the opening of the trans-Tasman bubble, says Tourism Industry Aotearoa. Since the first flight from Australia to New Zealand took off from Sydney to Auckland on 19 April, the two-way Tasman travel ... More>>