Rights issue 43% oversubscribed

®
is a registered Trade Mark of Wellington Drive Technologies WT 9431

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
17 July 2020

Market Announcement
For immediate release

Wellington Drive Technologies rights issue 43% oversubscribed


Wellington Drive Technologies, a leading provider of Internet of Things (IoT) solutions and energy efficient
motors to the retail food and beverage industry, is pleased to advise that its pro rata renounceable rights
issue of new ordinary shares, which closed on 16 July 2020, was oversubscribed.

Eligible shareholders were entitled to subscribe for 1 new share for every 3 existing shares held at an issue
price of 5 cents per share, and also to apply for additional shares under a shortfall facility. The result of the
acceptances is summarised as follows.

Acceptances of rights were received for 86.5m shares out of 108m available under the Offer. In addition,
applications for additional shares in excess of rights (under the oversubscription facility) were received for
68.2m shares. As the applications for additional shares exceeded the shortfall by 46.7m shares, there will
be a scaling which will be completed in accordance with the process set out in the Offer Document. The
shares to be issued, including additional shares, are expected to be allotted by 22 July.

John McMahon, Wellington Chairman commented “The Wellington team thanks shareholders for their
strong show of support. The funds raised will assist in effectively managing through the COVID-19
situation and will help ensure the Company comes out of the other side in a strong position. Wellington is
committed to resuming execution of its prior growth plans as conditions progressively normalise for its
customers.”

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

WT 9431

Contact:
John McMahon Howard Milliner
Chairman Chief Financial Officer
Phone +61 410 411 806 +64 27 5870455