NZ RegCo Share Price Enquiry Into Wellington Drive Tech Ltd

®
is a registered Trade Mark of Wellington Drive Technologies

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



WTxxxx
15 January 2021

Mr Alistair Weekes
NZ RegCo
PO Box 2959
Wellington 6011

By email:
surveillance@nzregco.com

Dear Alistair,
NZ RegCo Price Enquiry
I write in response to NZ RegCo’s letter to Wellington Drive Technologies Limited (“WDT” or “Company”)
dated 14 January 2021 noting an increase in WDT’s share price of 31.2 % from the opening price on 8
January to 12.45 pm on 14 January. You are seeking advice from WDT whether the Company continues to
comply with Listing Rule 3.1.1.
WDT advises it has reviewed all information of which it is aware and advises it continues to comply with
Listing Rule 3.1.1.
WDT notes the continuing market volatility due to COVID, but at this time does not have any further update
to the Company’s last NZX market release made on 28 October 2020 which included Outlook comments.
WDT has a scheduled performance review later next week and may, in the interests of keeping the market
informed, provide a further market update following that review.

Kind Regards



John McMahon
Director and Chair of WDT’s Audit & Risk Committee
Wellington

Drive Technologies Limited

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WGN
Level 1
11 Cable Street
Wellington 6011
New Zealand
PO Box 2959
P +64 4 472 7599
AKL
Level 7, Jarden House
21 Queen Street
Auckland 1010
New Zealand
PO Box 106 555
P +64 9 368 1375



14 January 2021

John McMahon
Independent Director - Audit & Risk (Chair)
Wellington Drive Technologies Limited

By email: john.mcmahon@auroinvest.com
CC: howard.milliner@wdtl.com

Dear John,
Wellington Drive Technologies Limited (WDT) – Price Enquiry

We write with respect to the continuous disclosure obligations set out in the Listing Rules (Rules).
Listing Rule 3.1.1 (”the rule”) is set out in the Schedule attached to this letter. In summary, this rule
requires issuers to immediately disclose any Material Information to NZX Limited (“NZ RegCo”). The
rule provides limited exceptions to this obligation. Material Information does not need to be disclosed
where a reasonable person would not expect the information to be disclosed and where the
information is confidential and its confidentiality is maintained and where one of five safe harbours
applies.

The price of WDT has increased from $0.077, being the market open price on 8 January 2021 to
$0.101, being the price at 12:45 PM on 14 January 2021. This represents a total increase of
$0.024, or 31.2%.

Given this increase in the price of WDT shares, please advise NZ RegCo whether WDT continues
to comply with Listing Rule 3.1.1.

Could you please provide NZ RegCo with an answer to the above question (email:
surveillance@nzregco.com) before 9:00am on Friday, 15 January 2021.

Please provide your response to this letter in “PDF” format, and note that it will be published in full to
the market.

Kind Regards,




Alistair Weekes
Surveillance Analyst
NZ RegCo

2
SCHEDULE

3.1 Disclosure of Material Information
3.1.1 Once an issuer becomes Aware of any Material Information relating to it, the Issuer must:
a) Promptly and without delay release that Material Information through MAP, and
b) Not disclose any Material Information to the public, any other stock exchanges (except as
provided for in Rule 3.26.2(d)) or any other party without first releasing that Material
Information through MAP.

3.1.2 Rule 3.1.1 does not apply when:
(a) One or more of the following applies:
i) Release of the information would be a breach of the law,
ii) The information concerns an incomplete proposal or negotiation,
iii) The information contains matters of supposition or is insufficiently definite to warrant
disclosure
iv) The information is generated for internal management purposes, or
v) The information is a trade secret,
(b) The information is confidential and its confidentiality is maintained, and
(c) A reasonable person would not expect the information to be disclosed.

3.2 False Market
3.2.1 An Issuer must promptly and without delay release Material Information through MAP to the
extent necessary to prevent development or subsistence of a market for its Quoted Financial
Products which is materially influenced by false or misleading information emanating from:
a. the Issuer or any Associated Person of the Issuer, or
b. other persons in circumstances in each case which would give such information
substantial credibility,
and which is of a reasonably specific nature whether or not Rule 3.1.2 applies.