Market Release

For Immediate Release

Capital Change Notice

18 December 2019

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%
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/redemption2 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

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

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).

About Us:

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 Officer
Phone +1-778-238-6494

Howard Milliner
Chief Financial Officer
+64 27 5870455