WDT - Wellington Drive Technologies

[Caesius]

Announcement marked price sensitive and regarding an extension of their loan facility - is this a way of a company technically fulfilling their duty giving a warning to investors without sounding overly dramatic?

[Nevl]

Just got credit facility upgraded to $2.5 million from $2 mill at the BNZ. So not substantial and nice to see that they are not needing to go back to the junk bond markets so big savings there.

[Caesius]

Wow I am just going to stop paying any attention to market depth, it is very misleading.

[Paradox]

Anyone planning to tune into the AGM tomorrow?

[forest]

Anyone planning to tune into the AGM tomorrow?

Yea, why you asking?

[emearg]

Anyone planning to tune into the AGM tomorrow?

Sure thing. I'm bringing cookies.

[Paradox]

Virtual cookies of course

[emearg]

Virtual cookies of course

Not the ones I'll be eating

[Paradox]

Apart from the Covid resiliency measures, key question in the AGM is bound to be around capital raising?

[Leftfield]

Apart from the Covid resiliency measures, key question in the AGM is bound to be around capital raising?

Question answered......see here.

Covid-19 an issue going forward, but still forecasting a profit......

Wellington’s Q1 result was an improvement on last year as the company successfully managed through the initial supply chain challenges caused by COVID-19. During Q2, the company has experienced much weaker sales estimated at around $5m for the 3 months ended 30 June 2020, compared to $17m for the same period in 2019. Nevertheless, Wellington expects to report an EBITDA profit of around $1m for the 6 months ended 30 June 2020, compared to $2.4m for the comparable period in 2019.

The key features of the Offer include:

• Raise approximately $5.4m through a 1:3 pro-rata renounceable rights issue at 5 cents per new share
• Rights will not be quoted or tradeable on the NZX. However, Eligible Shareholders are entitled to seek buyers for their rights off-market prior to the closing date of 16 July 2020
• The Offer closes on 16 July 2020 with the new shares issued by 22 July 2020