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Wellington Drive Technologies Funding Update; Wellington announces fully supported rights issue to fund continued growth

Oct 25, 2019 - PR Newswire

PR Newswire

Wellington Drive Technologies Limited (Wellington), a leading provider of Internet of Things (IoT) solutions and energy efficient motors to the retail food and beverage industry, today announced its intention to raise approximately $5.3m of new capital through a fully supported pro-rata rights issue. This announcement is on the back of strong year-to-date results that demonstrates improving profit performance, plus an expanding array of growth opportunities, including the recen...