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WiseTech Global Ltd (WTC.AX) Notice of Founder/CEO Cash Settled Equity Swap Transaction

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WiseTech Global Ltd
WiseTech Global Ltd

WiseTech Global Ltd (WTC.AX) Notice of Founder/CEO Cash Settled Equity Swap Transaction

Sydney, Australia, Dec 23, 2021 - (ABN Newswire) - WiseTech Global Limited (ASX:WTC) (HAM:17W) (OTCMKTS:WTCHF) has been informed that RealWise Holdings Pty Ltd, a company controlled by WiseTech Founder and Chief Executive Officer, Mr Richard White, has entered into a transaction involving the sale of 4.3 million WiseTech shares (equating to approximately 1.3% of the total issued capital of WiseTech).

Mr White advises that the share sale has been undertaken in connection with a cash settled equity swap executed with Macquarie Bank Limited on 22 December 2021 (Equity Swap). As part of the transaction, Mr White has transferred 4.3 million WiseTech shares to Macquarie Bank. Mr White will retain an economic interest under the Equity Swap. Mr White has informed the Company that the Equity Swap is structured to reduce market impact and that an unwind of the Equity Swap is expected to commence in early 2022 and complete within six months.

Mr White has indicated that the share sale announced today is an evolution of the trading programs he implemented in August 2020, April 2021 and September 2021, and is intended to continue to facilitate additional liquidity in WiseTech's shares, as well as a small diversification of Mr White's assets.

Prior to the Equity Swap transaction Mr White had voting control over approximately 43.3% of WiseTech's total issued capital. As a result of this transaction, Mr White is expected to retain voting control over approximately 42% of WiseTech shares, and the directors and employees of WiseTech, in aggregate, will hold approximately 53% of the Company's issued share capital.

Mr White remains WiseTech's largest shareholder and has confirmed his ongoing commitment to WiseTech as its founder and CEO, as well as his intent to remain a substantial, long-term shareholder.

Mr White said, "As the founder and CEO of WiseTech, I am committed to driving WiseTech's global growth ambitions and positioning our CargoWise logistics execution software as the operating system for global logistics.

"As WiseTech continues to gain momentum in delivering revenue growth and market penetration, we are seeing increasing interest from new, long-term investors wanting to be part of the Company's growth journey, which is why it is important to enhance liquidity via an orderly process."

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 12,000 of the world's logistics companies across 150+ countries, including 43 of the top 50 global third-party logistics providers and 25 of the 25 largest global freight forwarders worldwide. Our flagship platform, CargoWise One, 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 ~3,500 product enhancements to our global CargoWise 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.

The WiseTech Global group includes CargoWise One, ABM Data Systems, ACO Informatica, BorderWise, Bysoft, Cargoguide, CargoIT, CargoSphere, CMS Transport Systems, Containerchain, CustomsMatters, DataFreight, Depot Systems, EasyLog, Fenix, Forward, Intris, LSP Solutions, Microlistics, Multi Consult, Pierbridge, Prolink, Ready Korea, SaaS Transportation, SmartFreight, Softcargo, Softship, Systema, Taric, Trinium Technologies, Ulukom, Xware, zsoft, and znet Group.


Helen Karlis
+61 419 593 348

Ross Moffat
+61 2 8001 2200

WiseTech Global Ltd

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