Market Release

For Immediate Release

Wellington Drive Technologies announces John McMahon is now an Independent Director

18 November 2020

The Wellington Drive Technologies Limited Board has determined that Chairman John McMahon is an independent director of the Company. He was previously determined to be a non-independent director under the NZX Listing Rules because he is a director of NZX Limited, the parent company of Smartshares Limited, which was a substantial product holder of Wellington. Smartshares issued a Substantial Product Holder Notice to the NZX on 17 November 2020 advising that they had exited the Wellington share register.

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

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