Wellington Drive Technologies name change to AoFrio Limited

www.aofrio.com





P: + 64 9 477 4500 E: info@aofrio.com
® is a registered Trademark of AoFrio Ltd


A: 21 Arrenway Drive, Rosedale, Auckland 0632, New
Zealand PO Box: 302-533 North Harbour, Auckland 0751,
New Zealand

13 September 2022

As advised to the market in August 2022, Wellington Drive Technologies Limited advises
that it will be changing its name to AoFrio Limited and its ticker code will change to AOF
with effect from market open on 20 September 2022.
During the final quarter of 2022, all brand assets will be updated to AoFrio.
Greg Balla, CEO of AoFrio, says: “As we develop into a hardware-enabled SaaS company,
we’re rebranding to showcase what we’ve evolved into. We’re now a leading provider of
Internet of Things (IoT) solutions and energy-efficient motors to the retail food and beverage
industry across the globe
“Alongside our internal launch, we will embed the new brand via a wave of customer
communications to articulate the value we add to companies around the world. This rebrand
is a part of our strategy to lift recurring IoT SaaS-driven revenue, as well as expand in
existing and new markets.
“Our future is now firmly focused on meeting the needs of our global customers,
shareholders and team to deliver sustainable transformative technologies and a connected
advantage,” says Balla.
In August 2021, the Company reconfirmed guidance of annual EBITDA falling within $3.5 –
$4.5 million. The business also signalled that it expects three very large revenue months in
the last quarter of the financial year and, if successful, will deliver EBITDA towards the top
end of guidance.





Contacts:

Greg Balla Howard Milliner
Chief Executive Officer Chief Financial Officer
Phone +64 21 938601 Phone +64 27 5870455









WT9683