Wellington Drive Technologies secures new $2.5m loan
® is aregistered Trade Mark of Wellington Drive Technologies Ltd in New Zealand
Wellington Drive Technologies LtdWT9081
21 Arrenway Drive, Rosedale, Auckland 0632, New Zealand
PO Box 302-533, North Harbour, Auckland 0751, New Zealand
Telephone: +64 9 477 4500Facsimile: +64 9 479 5540
Email:info@wdtl.comWebsite:www.wdtl.comPage1of1
3September2018
Media Release
For Immediate Release
WellingtonDrive Technologiessecures new $2.5m loan
Wellington Drive Technologies Limited (NZX:WDT) advisesthat it hassecured a $2.5 million loan
from Onimeg Investments Limited, a company owned and controlled bythe family interests ofMichael
Chamberlain.Michaelalsohas aprivateshareholding in WDT.
The key features of the loan are:
It has a12 month term,to be drawnon 17 September 2018and repaid on 17 September 2019;
It is an unsecured loan, with interest payable at 16% p.a.on a quarterly basis in arrears;
WDT’sCEOGreg Allencommented“Michael Chamberlain has been a supporter of WDT for many
years and we aregratefulthathis support continues. WDT shall use the loan to repaytheSmartshares
Limited’s $2 million loan, which is due for repayment in March 2019, and for general working capital
purposes”.
About Wellington Drive Technologies
Wellingtonis a leading global provider of IoT solutions, cloud-based fleet management platforms, energy-
efficient electronic motors and connected refrigeration control solutions for the retail food and beverage
markets. Through its iProximity brand in Australia it provides proximity-based marketing for Smart Cities.
Wellington’s SCS Connect IoT products, iProximity digital marketing solutions, and ECR motors serve some of
the world’s leading food and beverage brands,and refrigerator manufacturers with advanced products and
solutions that improve product sales, reduce operating costs and reduce energy consumption. Wellington is
headquartered in Auckland, New Zealand, and is listed on the New Zealand stock exchange under the ticker
symbol NZ:WDT
For further information visitwww.wdtl.com.
____________________________________________________________________________
Contact:
Greg AllenHoward Milliner
Chief Executive OfficerChief Financial Officer
Phone +1-778-238-6494027-587 0455
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.
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