Market Release

For Immediate Release

Wellington Drive Technologies COVID-19 support payments

 14 April 2020

Wellington Drive Technologies has received $434,376 under the New Zealand Government’s COVID-19 Wage Subsidy scheme.

The company is also applying for other COVID-19 related government support for its international offices:

• In Australia, where Wellington’s iProximity subsidiary has two staff members, the company expects to receive a refund of its PAYG obligations from the Australian Tax Office for the March, June and September quarters. This is expected to be around A$10,000 per month.

• Wellington’s United States (US) subsidiary has applied for two COVID-19 related programmes; the US Paycheck Protection Program for its five US-based staff members and the Economic Injury Disaster Loan program. Grant eligibility and amounts will be determined by program underwriters.

 

 

 

 

 

 

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