Announcement

MKTUPDTE: WDT: Wellington Drive Technologies repays loans 03:22p.m. 
WDT  
03/12/2019 15:22  
MKTUPDTE  
NOT PRICE SENSITIVE  
REL: 1522 HRS Wellington Drive Technologies Limited  
 
MKTUPDTE: WDT: Wellington Drive Technologies repays loans  
 
Wellington Drive Technologies (Wellington), a leading provider of Internet of  
Things (IoT) solutions and energy efficient motors to the retail food and  
beverage industry, is pleased to advise that it has repaid its loans from  
Onimeg Investments Limited (Onimeg) and Meta Capital Limited (Meta).  
 
The original $2.5m loan from Onimeg was partially repaid on 17 September. The  
remaining $1.0m became repayable on the earlier of 31 March 2020 or the  
completion of any rights issue. This $1.0m loan balance was repaid on 2  
December 2019 out of rights issue proceeds.  
 
The Meta loan of US$0.6m was repayable on 31 March 2020 with interest payable  
at 12.5% pa. Meta is a company associated with John McMahon, a director of  
Wellington. Meta has agreed to an early repayment of the loan without  
penalty to Wellington. Repayment was made on 3 December 2019.  
 
Wellington CEO Greg Allen commented "Wellington appreciates the support of  
Onimeg and Meta in providing these loan facilities. The repayment and  
completion of these facilities will reduce the company's reported finance  
costs and improve bottom line profitability".  
End CA:00345369 For:WDT Type:MKTUPDTE Time:2019-12-03 15:22:33  

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