Loading
Contact: ir@mixtelematics.com
855-564-9835

MiX Telematics Announces Results of General Meeting

Monday, August 1, 2016 12:45 pm EDT

Dateline:

MIDRAND, South Africa

Public Company Information:

NYSE:
MIXT
JSE:
MIX

MIDRAND, South Africa--(BUSINESS WIRE)--Shareholders are referred to the announcement released on SENS on June 14, 2016 wherein shareholders were advised that MiX had posted a circular, together with a notice convening a general meeting, to shareholders relating to the proposed specific repurchase of shares by MiX from Imperial Corporate Services Proprietary Limited.

Shareholders are advised that at the general meeting of MiX shareholders, held on Monday, August 1, 2016, all of the resolutions tabled thereat were passed by the requisite majority of shareholders.

Details of the results of the general meeting are as follows:

-     total number of MiX shares in respect of which the votes could be taken into consideration for voting purposes in respect of:
 

-  special resolution 1: 562 259 240;

 

-  special resolution 2, 3 and ordinary resolution 1: 763 087 500;

 
- total number MiX shares that were present/represented at the general meeting: 530 218 445 (being 69% of the total number of shares that could have been voted at the meeting).
 

Special resolution 1 – Approval of the repurchase

                   
Shares voted*

529 157 070

   

For

529 067 120, being 99.98300%

    Against

89 950, being 0.01700%

    Abstentions

1 061 375, being 0.001888%

           

Special resolution 2 – Revocation of special resolution 1 in terms of section 164(9)(c) of the Companies Act 71 of 2008 if the share repurchase agreement does not become unconditional and dissenting shareholders have exercised appraisal rights under section 164 of the Companies Act

             
Shares voted*

529 745 695

  For

529 563 420, being 99.96559%

  Against

182 275, being 0.03441%

  Abstentions

472 750, being 0.00062%

     

Special resolution 3 – Provision of financial assistance to MiX subsidiary

                   
Shares voted*

529 841 595

    For

529 563 420, being 99.94750%

    Against

278 175, being 0.05250%

    Abstentions

376 850, being 0.000494%

           

Ordinary resolution 1 – General authority

                   
Shares voted*

529 850 345

    For

529 658 645, being 99.96382%

    Against

191 700, being 0.03618%

    Abstentions

368 100, being 0.000482%

* shares excluding abstentions

 

The repurchase remains subject to the fulfilment, or waiver, as the case may be, of the following conditions precedent:

-     The provisions of section 115(3) of the Companies Act 71 of 2008 as it relates to court approval being required if the resolutions authorizing the repurchase are voted against by at least 15% of shareholders and these shareholders seek relief via the court, if applicable and where timeously invoked, as further set out in the circular posted to the company’s shareholders in June 2016;
 
- The provisions of section 164(5) of the Companies Act 71 of 2008 as it relates to dissenting shareholders if applicable and where timeously invoked, as further set out in the circular posted to the company’s shareholders in June 2016; and
 
-

The company obtaining the necessary compliance certificate from the Takeover Regulation Panel (“TRP”) in respect of the repurchase in terms of the Companies Act 71 of 2008.

 

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 www.mixtelematics.com.

Contact:

Investor Contact:
ICR for MiX Telematics
Sheila Ennis, +1-855-564-9835
ir@mixtelematics.com