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MIX TELEMATICS LIMITED - Notice in terms of section 45(5)(a) of the Companies Act 71 of 2008 (The Act)

Release Date: 17/08/2015 17:30
Code(s): MIX     PDF:  
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Notice in terms of section 45(5)(a) of the Companies Act 71 of 2008 (“The Act”)

MiX Telematics Limited
(Incorporated in the Republic of South Africa)
(Registration number 1995/013858/06)
JSE share code: MIX  ISIN: ZAE000125316
NYSE share code: MIXT
(“MiX Telematics” or the “company”)


NOTICE IN TERMS OF SECTION 45(5)(a) OF THE COMPANIES ACT 71 OF 2008 (“THE ACT”)


In terms of the provisions of section 45(5)(a) of the Act and pursuant to the special resolution passed at the
annual general meeting of the company held on 17 September 2014 authorising the board of directors (“the
board”) to provide direct or indirect financial assistance to related and inter-related parties, notification is
hereby given by MiX Telematics that the board has adopted a resolution in terms of section 45(3)(b) of the
Act authorising the company to grant a loan facility to MiX Telematics Investments Proprietary (“MiX
Investments”), a wholly-owned subsidiary of MiX Telematics, in an amount of R250 000 000.00, to
facilitate MiX Investments’ functioning as the MiX Telematics group’s treasury company. The granting of
the loan constitutes financial assistance in terms of section 45 of the Act, which financial assistance exceeds
one tenth of one percent of the company’s net worth.

In accordance with section 45 of the Act, the board is satisfied and acknowledges that:

   (i)    immediately after providing such financial assistance, MiX Telematics would have satisfied the
          solvency and liquidity test as provided for in section 4 of the Act, and

   (ii)   the terms under which such financial assistance has been given are fair and reasonable to MiX
          Telematics.


17 August 2015


Sponsor
Java Capital

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