Wynyard shares halted on NZ stock exchange pending company announcement

Wynyard Group had its shares halted on the New Zealand stock exchange this morning pending an announcement by the software development company.

The company's shareholders are scheduled to vote at its annual meeting in Auckland tomorrow on a proposal to give the board more freedom to issue shares, which has been opposed by the New Zealand Shareholders Association.

Ahead of the meeting, NZSA chairman John Hawkins has said there was no clear information about how the company would protect existing investors and that his members faced an information "black hole", although chief executive Craig Richardson said the company is "carefully considering a number of options including those that John (Hawkins) has provided."

Wynyard's shares last traded at $1.54 and have shed 16 percent so far this year.

BusinessDesk.co.nz

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