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MIX TELEMATICS LIMITED - Update - Specific Issue of Shares for Cash

Release Date: 23/07/2013 07:11
Code(s): MIX     PDF:  
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Update - Specific Issue of Shares for Cash

MiX Telematics Limited
(Incorporated in the Republic of South Africa)
(Registration number 1995/013858/06)
JSE Code: MIX ISIN: ZAE000125316
(“MiX Telematics” or “the Company”)


UPDATE - SPECIFIC ISSUE OF SHARES FOR CASH


Shareholders are referred to the announcement on 3 July 2013 and the circular dated 3 July 2013 (the “circular”)
posted to shareholders relating to, inter alia, an authority for a specific issue of shares for cash of up to a maximum of
110 million ordinary shares in MiX Telematics to Bank of New York Mellon as depositary ("BNYM"), pursuant to an
offering of American Depositary Shares (the “specific issue”).

Terms defined in the circular shall bear the same meanings in this announcement.

As set out in the circular, the Company is seeking to raise equity on the international capital markets by way of an
offering of American Depository Shares, each of which will represent 25 ordinary shares in the Company.

Accordingly, to enable the Company to undertake the ADS offering, and subject to the outcome of the ADS
bookbuild, MiX Telematics intends to issue a maximum of 110 million ordinary shares, as is determined by the MiX
Telematics board, to BNYM under the terms and conditions of the ADS offering.

The issue price per share is expected to be fixed by the board at the end of the ADS bookbuild. In determining the
specific issue price, the MiX Telematics board will be guided by market conditions and other relevant factors.

As required by the United States Securities and Exchange Commission, the Company has filed an amended
registration statement including an indicative price range per ADS. This indicative price range should not be taken as
confirmation that the specific issue will take place within this price range or that the specific issue will proceed at all.

The indicative price range per ADS of between US$14 and US$16 equates to an indicative specific issue price per
new Mix Telematics share of between R5.55 and R6.34 (using a Rand:US Dollar exchange rate of R9.9104 to US$1,
being the exchange rate published by the South African Reserve Bank as at 19 July 2013).

The specific issue remains conditional upon, inter alia, the passing of an ordinary resolution with the support of at
least 75% of the total number of votes exercisable by shareholders at the general meeting of shareholders to be held at
the offices of MiX Telematics, being Matrix Corner, Howick Close, Waterfall Park, Midrand, 1686 at 11h00 on
Thursday, 1 August 2013.

This announcement is not an offer to sell or a solicitation to purchase any securities. The offering of ADSs is being
made in the USA and elsewhere outside South Africa solely on the basis of the information contained in the
registration statement.

23 July 2013



South African corporate advisor and sponsor: Java Capital

South African legal advisor: Werksmans Inc.

Independent reporting accountants and auditors: PricewaterhouseCoopers Inc.

USA counsel: Akermann Senterfitt LLP

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