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

Release Date: 28/06/2019 17:01
Code(s): MIX     PDF:  
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Notice in terms of section 45(5)(a) of the Companies Act 71 of 2008

(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")


In terms of the provisions of section 45(5)(a) of the Companies Act 71 of 2008 ("the Act") and pursuant to
the special resolution passed at the annual general meeting of the company held on September 27, 2018
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 Limited ("MiX Investments"), a wholly-owned subsidiary of MiX Telematics, 
up to an amount of USD 6.7 million, to facilitate MiX Investments' functioning as the MiX Telematics group's 
treasury company. Shareholders are advised that the loan facility granted on the same terms to MiX Investments 
on or about March 29, 2019 was not utilised at that time and this notice accordingly replaces and supersedes 
the prior notice. 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

June 28, 2019

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