MiX Telematics (MIXT) has released an update to notify the public and investors about a regulation fd disclosure.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
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.
For further insights into MIXT stock, check out TipRanks’ Stock Analysis page.
For a comprehensive understanding of the announcement, you can read the full document here.
