For Immediate Release
Wellington provides funding update
10 July 2019
Wellington Drive Technologies Ltd is pleased to advise that the Company’s trade finance facility with Bank of New Zealand (announced 15 January 2019) has been increased from NZ$1.5m to NZ$2.0m. All other terms of the facility remain unchanged.
Wellington also advises the repayment date of the loan advance from Meta Capital (described in note 4.1 to its 2018 Annual Report) has been extended to 31 March 2020. All other terms of the loan remain unchanged.
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
Chief Executive Officer
Senior Vice President, Commercial
+64 21 843-029