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MiX Telematics Announces Completion of Specific Share Repurchase and Associated Changes to the Board of Directors


MIDRAND, South Africa--(BUSINESS WIRE)--Shareholders are referred to the announcements released on SENS wherein shareholders were advised that MiX had undertaken a specific repurchase of all 200 828 260 MiX shares held by Imperial Corporate Services Proprietary Limited for an aggregate repurchase consideration of R473 954 694 (“the repurchase”), as approved by shareholders at the general meeting held on 1 August 2016, and are advised that all the conditions precedent have been fulfilled and the company has obtained the necessary compliance certificate from the Takeover Regulation Panel (“TRP”) in respect of the repurchase in terms of the Companies Act, 71 of 2008.

“We are extremely pleased that shareholders approved our repurchase of all the MiX ordinary shares held by Imperial as we currently see no better use of our cash than to invest in our own business at this valuation,” said Stefan Joselowitz, CEO of MiX Telematics. “MiX’s long and mutually beneficial relationship with Imperial remains robust, and we look forward to strengthening this association going forward.”

The repurchase will be implemented in accordance with the terms of the repurchase set out in the circular to MiX shareholders posted on 14 June 2016 and an application will be made to the JSE Limited for the delisting of the 200 828 260 MiX shares repurchased.

Shareholders are further advised that in accordance with the terms of the repurchase the resignation of Mark Lamberti as a non-executive director of MiX and the resignation of George Nakos as alternate non-executive director to Mark Lamberti are effective today.

The company would like to thank Mark and George for their respective contributions to the company.

About MiX Telematics Limited

MiX Telematics is a leading global provider of fleet and mobile asset management solutions delivered as SaaS to customers in approximately 120 countries. The Company’s products and services provide enterprise fleets, small fleets and consumers with solutions for safety, efficiency, risk and security. MiX Telematics was founded in 1996 and has offices in South Africa, the United Kingdom, the United States, Uganda, Brazil, Australia, Romania, Thailand and the United Arab Emirates as well as a network of more than 130 fleet partners worldwide. MiX Telematics shares are publicly traded on the Johannesburg Stock Exchange (JSE:MIX) and MiX Telematics American Depositary Shares are listed on the New York Stock Exchange (NYSE:MIXT). For more information visit


ICR for MiX Telematics
Sheila Ennis, +1-855-564-9835

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