Wellington Drive Technologies Limited


Transaction Type: Company meeting (Allotment)

Allottee: SuperLife Investments Limited

Independent Adviser(s): Simmons Corporate Finance (Rule 18)

Date of meeting: 27/05/2013

Exemption: Wellington Drive Technologies Limited - Exemption Notice 2013


On 11 March 2013, Wellington Drive Technologies Limited (WDT) announced a capital raising program which included the issue of 8,000,000 new fully paid ordinary shares to SuperLife Investments Limited (SuperLife) (the SuperLife Allotment). The SuperLife Allotment would result in SuperLife and its associates holding or controlling more than 20% of the voting rights in WDT. Accordingly, WDT sought shareholder approval to the SuperLife Allotment for the purposes of rule 7(d) of the Code.

The Panel granted an exemption to WDT and SuperLife from rule 7(d) and 16(b) of the Code in respect of the Notice of Meeting (see exemption above).

On 27 May 2013, WDT held its Annual Meeting of Shareholders. At the meeting, shareholders approved the allotment of shares in WDT to SuperLife Investments Limited.