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MiX Telematics Buyback

OLI recorded this information on 5/3/2016

Company: MiX Telematics
Buyback: MIXT buyback
Share Amount Authorized: 200,828,260
Buyback Details: MiX Telematics has entered into an agreement to repurchase all of its shares currently held by Imperial Holdings Limited. This equates to 200,828,260 MiX Telematics shares which represents 25.33% of MiX Telematics' issued share capital. MiX Telematics has agreed to pay 2.36 South African Rand per share, a 1.28% premium to the prior 30-days average trading price, for an aggregate repurchase consideration of 473,954,694 South African Rand.

MiX Telematics is engaged in providing fleet and mobile asset management solutions delivered as software-as-a-service. Co.'s solutions deliver a return by enabling its customers to manage, optimize and protect their investments in commercial fleets or personal vehicles. Co.'s primary subscription-based offerings include: MiX Fleet Manager, which is a commercial fleet management solution; MiX Asset Manager, which includes third party hardware products and products developed by Co.; Matrix, which is a suite of mobile asset management solutions designed for entry-level fleets and consumers; and MiX Now, which is Co.'s self-service, plug and play offering for small fleet operators.
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Company Name:  MiX Telematics Ltd
Stock buyback:  MIXT buyback
Website:  www.mixtelematics.com
Sector:  Application Software
 

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March 29, 2024    7:34 AM Eastern
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Strong Buy (3.50 out of 4)
100th percentile
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