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Windflow Technology Private Placements Approved

July 2, 2014



ENP Newswire - 02 July 2014

Release date- 30062014 - The shareholders of Christchurch wind turbine manufacturer Windflow Technology have approved a resolution for a private placement of 2,000,000 new preference shares to shareholder David Iles.

A second resolution approving possible further private placements to Mr Iles of up to 10,000,000 new preference shares was also passed by the shareholders as was a third resolution in accordance with Rule(7d) of the takeovers code.

These shareholder approvals extend previous shareholder approvals which already covered the possibility that Mr Iles, who holds 15.6% of ordinary shares, may obtain a material increase in voting control of the Company, and hold more than 20% of ordinary shares, if his holdings of preference shares are converted to ordinary shares.

Contact:

Geoff Henderson

Tel: +64 3 365 8960


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Source: ENP Newswire


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