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MIX
MIX
MIX - MIX Telematics Limited - Imperial buys a strategic stake in Mix
MIX TELEMATICS LIMITED
Incorporated in the Republic of South Africa
Registration number 1995/013858/06
JSE code: MIX
ISIN : ZAE000125316
("MiX")
IMPERIAL BUYS A STRATEGIC STAKE IN MIX
MiX has been advised that Imperial Holdings Limited ("Imperial") has acquired
a strategic stake of 25,4% in MiX.
MiX already has a business relationship with Imperial through Imperial`s
almost 250 new and used vehicle dealerships. These dealerships form an
important distribution channel for MiX`s vehicle tracking brand, Matrix.
Several of MiX`s other products in the fleet management arena, which are
successfully marketed in South Africa and abroad, may also find applications
in the Imperial group. This strategic shareholding will further strengthen
the relationship between MiX and Imperial.
As part of this acquisition, Mix`s BEE partner, Kagiso Trust Investments
(Pty) Ltd, has transferred its holding in MiX out of Kagiso Strategic
Investments (Pty) Limited and into a new company that it has formed with
IMPERIAL. It is expected that MiX`s BEE credentials will be enhanced by these
transactions.
11 March 2010
Sponsor
Java Capital (Proprietary) Limited
Date: 11/03/2010 12:00:03 Produced by the JSE SENS Department.
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