9 Jun 2015

Wynyard shares in temporary trading halt

2:07 pm on 9 June 2015

Wynyard Group's shares have been placed in a trading halt as it aims to raise $45 million, as part of its expansion plans.

Wynyard chief executive, Craig Richardson.

Wynyard chief executive, Craig Richardson. Photo: SUPPLIED

The crime software company said the capital raising had been fully underwritten at $1.79 cents per share, which is almost a 6 percent discount to Monday's closing price of $1.90.

The funds will be raised by way of a $40 million placement of new shares to institutions, and a $5 million share offer to eligible shareholders.

Wynyard chief executive Craig Richardson said the money would be used to boost sales staff numbers, software development and working capital.

"This is around refuelling the tank," he said

Mr Richardson said the trading halt was likely to be lifted tomorrow.

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