MiX Telematics (MIXT) has released an update to notify the public and investors about a regulation fd disclosure.
MiX Telematics Limited has agreed to an acquisition by PowerFleet, Inc. through a scheme of arrangement, making it a wholly owned subsidiary of PowerFleet. The deal involves the exchange of MiX Telematics’ issued ordinary shares and American Depositary Shares for Powerfleet common stock. Shareholders will be provided with a Scheme Circular and a South African Prospectus detailing the transaction and its consequences, including MiX’s delisting from the JSE and Powerfleet’s secondary listing. A press release was issued announcing forthcoming shareholder meetings to vote on the transaction, with relevant documents filed with the SEC, available on respective company websites.
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For a comprehensive understanding of the announcement, you can read the full document here.
