Wellington provides short-term funding update
®
is a registered Trade Mark of Wellington Drive Technologies WT9234
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
16 September 2019
Media Release
For immediate release
Wellington provides short-term funding update
Wellington Drive Technologies Ltd is pleased to advise that the company has negotiated a variation to the
loan provided by Onimeg Investments Limited. The company will repay $1.5m on 17 September 2019, the
due date. Onimeg Investments has agreed to a short-term extension of the repayment date for the $1.0m
balance of the original $2.5m loan to 31 March 2020. This extension provides flexibility over the next 6
months as the company continues to explore growth options. The interest rate for the loan after the payment
on 17 September 2019 will be 13.5%.
About Wellington Drive Technologies:
Wellington is a leading provider of IoT solutions, cloud-based fleet management platforms, energy-efficient electronic
motors and connected refrigeration control solutions. It serves some of the world’s leading food and beverage brands and
refrigerator manufacturers and offers proximity-based marketing for Smart Cities to the Australian market. Wellington’s
services and products improve sales, decrease costs and reduce energy consumption. Headquartered in Auckland with
a global reach, Wellington is listed on the New Zealand stock exchange under the ticker symbol NZ:WDT
For further information visit
www.wdtl.com
Contact:
Greg Allen
Chief Executive
ph +64 21 2111323
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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