Wellington Drive secures debt facility with BNZ

®
is a registered Trade Mark of Wellington Drive Technologies WT 9125

Wellington Drive Technologies Ltd
P: +64 9 477 4500 E: info@wdtl.com
21 Arrenway Drive, Rosedale, Auckland 0632
PO Box 302-533 North Harbour, Auckland 0751, New Zealand
www.wdtl.com



15 January 2019


Market Release

For Immediate Release

Wellington Drive secures debt facility with BNZ

Wellington Drive Technologies (“Wellington”) is pleased to announce it has accepted the offer of a trade
finance facility from the BNZ. The facility is for NZ$1.5 million, secured against customer invoices, and the
funds available will be used for general working capital purposes. Interest payable on the facility is at the
BNZ base rate at the time of any drawdown, plus a margin of 300 basis points. The facility has no expiry,
but the facility limit can be reduced by the bank at any time and an EBITDA gross interest covenant applies.

Wellington CEO, Greg Allen commented “We are pleased to have secured bank lending for the business.
This is a very positive development for the company and shows how we continue to strengthen our business
and risk profile. This facility will help support Wellington’s future development via lower cost funding.”


About Wellington Drive Technologies
Wellington is 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 Connect IoT products,
iProximity digital marketing solutions, and ECR motors serve some of the world’s leading food and beverage brands as
well as refrigerator manufacturers with advanced products and solutions that improve product sales, decrease 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 visit www.wdtl.com


Contact:
Greg Allen Howard Milliner
Chief Executive Officer Chief Financial Officer
Phone +1-778-238-6494 +64 27 5870455