Issue of shares for iProximity acquisition

®
is a registered Trade Mark of Wellington Drive Technologies WT 9297

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
18 December 2019

Market Announcement
For immediate release

Issues of shares for iProximity acquisition

Wellington Drive Technologies (Wellington) has today issued 3,307,138 ordinary shares to the vendors of
iProximity Pty Limited (iPX) pursuant to the Sale and Purchase agreement announced on 28 February
2018.

The acquisition price consisted of cash payable on signing the agreement and on completion, and
consideration, both cash and Wellington shares, subject to attaining certain performance hurdles. These
performance hurdles, set out in the February 2018 announcement and Wellington’s 2018 Annual Report,
included iPX profitability and the combined business achieving specified SCS Connect product volumes.
This issue of ordinary shares is required due to SCS Connect unit sales performance in 2019 reaching the
specified hurdle.


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 Howard Milliner
Chief Executive Officer Chief Financial Officer
Phone +1-778-238-6494 +64 27 587-0455

---

®
is a registered Trade Mark of Wellington Drive Technologies WT 9290

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



18 December 2019


Capital Change Notice


For immediate release
Notification of Allotment of Securities by Wellington Drive Technologies Limited

Section 1: Issuer information

Name of issuer Wellington Drive Technologies Limited
NZX ticker code WDT
Class of financial product Ordinary Shares
ISIN (If unknown, check on NZX website) NZWDTE0002S1
Currency NZD
Section 2: Capital change details
Number issued 3,307,138
Nominal value (if any) n/a
Issue/acquisition/redemption price per security n/a
Nature of the payment
(for example, cash or other consideration)
No cash consideration payable as the issue of
shares is in part settlement of the deferred
purchase price under the Sale and Purchase
Agreement for all the shares in iProximity Pty
Limited announced to the market on 28
February 2018.
Amount paid up (if not in full) Credited as fully paid
Percentage of total class of Financial Products
issued/acquired/redeemed/
(calculated on the number of Financial
Products of the Class, excluding any Treasury Stock, in existence)
1

1.0354%

1
The percentage is to be calculated immediately before the issue, acquisition, redemption or Conversion.

WT 9290

2
For an issue of Convertible Financial Products or
Options, the principal terms of Conversion
(for example the
Conversion price and Conversion date and the ranking of the Financial
Product in relation to other Classes of Financial Product) or the Option
(for example, the exercise price and exercise date)

n/a
Reason for issue/acquisition/redemption and specific
authority for issue/acquisition/redemption/ (the reason
for change must be identified here)
The issue of shares is in part settlement of the
deferred purchase price under the Sale and
Purchase Agreement for all the shares in
iProximity Pty Limited announced to the
market on 28 February 2018.
Total number of Financial Products of the Class after the
issue/acquisition/redemption/Conversion
(excluding
Treasury Stock) and the total number of Financial Products of the
Class held as Treasury Stock after the issue/acquisition/redemption.

322,707,005
In the case of an acquisition of shares, whether those
shares are to be held as treasury stock
n/a
Specific authority for the issue, acquisition, or
redemption, including a reference to the rule pursuant to
which the issue, acquisition, or redemption is made
Directors resolution dated 28 November 2019
and Listing Rule 4.5.1.
Terms or details of the issue, acquisition, or redemption
(for example: restrictions, escrow arrangements)
The shares are credited as fully paid, and rank
in all respects equally with the fully paid
Ordinary Shares already on issue.
Date of issue/acquisition/redemption
2
10 December 2019
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this announcement Howard Milliner
Contact person for this announcement Howard Milliner
Contact phone number +64 27 5870455
Contact email address Howard.milliner@wdtl.com
Date of release through MAP

18 December 2019


For further information visit www.wdtl.com.



2
Continuous issuers using this form in reliance on Rule 3.13.2, please indicate the period during which the relevant
issue/acquisition/redemptions were made (for example, 1 January 2019 to 31 January 2019).