Notice of Founder/CEO Trading Program Recommencement
Sydney, April 20, 2021 AEST (ABN Newswire) - WiseTech Global Limited (
ASX:WTC) (17W:FRA) (WTCHF:OTCMKTS) has released an Appendix 3Y, Change of Director's Interest Notice, for WiseTech Founder and Chief Executive Officer, Mr Richard White.
Mr White advises the share sales to which the Appendix 3Y relates, have been undertaken as part of a trading program which commenced on 12 April 2021 and will continue until 30 June 2021 (Trading Period), subject to no material, non-public information arising during this period (the Trading Program).
The Trading Program is similar to that implemented in late August 2020 (which ceased on 31 December 2020) but has lower limits on daily trade volumes, which are designed to further reduce market impact.
Mr White intends to sell down a minor portion of his direct shareholding (equating to approximately 0.5% to 0.7% of the issued share capital of the Company) with small daily trades throughout the Trading Period to facilitate liquidity in the Company's shares and enable a further small diversification of his assets.
Mr White had voting control over approximately 44.79% of the Company's total issued capital prior to commencement of the Trading Period. Upon expiry of the Trading Period he is expected to retain voting control of approximately 44% of WiseTech shares.
The last sale of WiseTech shares by Mr White was in the period 27 August 2020 to 31 December 2020, during which Mr White sold 5,928,390 shares held in his personal capacity and by RealWise Holdings Pty Ltd, a company controlled by Mr White (the First Trading Program Period). The shares sold by Mr White during the First Trading Program Period equated to approximately 1.8% of WiseTech's current issued share capital.
Mr White remains WiseTech's largest shareholder and has confirmed his commitment to WiseTech as its founder and CEO, and his intent to remain a substantial, long-term shareholder.
Directors and employees of WiseTech, in aggregate, hold approximately 56.9% of the Company's issued share capital.
Mr White said, "I am excited about WiseTech's future growth opportunities and continue to be as committed and driven as ever to achieve our global growth ambitions. We are gaining momentum in positioning WiseTech's CargoWise offering as the leading execution software and operating system for global logistics. As we continue to execute our market penetration strategy, it is pleasing to see interest from new, long-term investors-large and small, local and global-wanting to be part of our growth journey. This is why it is important to enhance the liquidity of our stock through an orderly process and in a way that will benefit all of our shareholders."
About WiseTech Global Ltd
WiseTech Global Ltd (ASX:WTC) is a leading developer and provider of software solutions to the logistics execution industry globally. Our customers include over 17,000 of the world's logistics companies across 160 countries, including 41 of the top 50 global thirdparty logistics providers and all of the 25 largest global freight forwarders worldwide2. Our flagship platform, CargoWise, forms an integral link in the global supply chain and executes over 50 billion data transactions annually.
At WiseTech, we are relentless about innovation, adding over 4,000 product enhancements to our global platform in the past five years while bringing meaningful continual improvement to the world's supply chains. Our breakthrough software solutions are renowned for their powerful productivity, extensive functionality, comprehensive integration, deep compliance capabilities, and truly global reach.
For more information about WiseTech Global or CargoWise, please visit wisetechglobal.com and cargowise.com
| ||
|
