TeliMatrix Lists on the JSE Mainboard
November 15, 2007
Nov 15, 2007 -- /prbuzz/ --TeliMatrix Limited Lists on JSE Mainboard

Johannesburg, South Africa, 14 November 2007: In one of the most anticipated listings in months, telematics group, TeliMatrix Limited (TeliMatrix) listed on the JSE main board. The share opened strongly at 180 cents, 5 cents higher than its placement price of 175 cents and was trading at 180 cents at 1pm, with over 4million shares having traded.

TeliMatrix provides a broad range of alternatives including vehicle tracking-and-recovery, driver safety and advanced fleet management products and services. Its recent acquisition of OmniBridge will strengthen its market position and expand its geographic footprint into 6 continents. TeliMatrix’s primary reason for listing was to facilitate the OmniBridge transaction, no capital was raised during the listing and no new shares were issued. The listing also enables TeliMatrix to take advantage of future acquisitive opportunities and increase public awareness of the company both locally and internationally.

Stefan Joss, CEO of TeliMatrix says: “TeliMatrix is very proud to be listed on the JSE. Through our highly cash generative businesses and the flexibility we now have of being a public company, we will be able to extend our local and global reach through organic and acquisitive growth.”

Joss adds: “TeliMatrix and OmniBridge compliment each other well and operate off similar technology platforms. Combining the two companies’ markets will enable us to roll out our recurring revenue model into the existing international distribution channel.”

At the current share price, the company’s market capitalisation stands at around R1.2 billion, with 640 million shares in issue.

Background:

TeliMatrix was established in 1995 as a vehicle tracking and recovery business operating under the Matrix brand. In 2005 Kagiso acquired 25% of its equity to facilitate the company’s empowerment objective. With the aim of creating an integrated group focusing on all levels of vehicle telematics, In TeliMatrix acquired OmniBridge in 2007. The various businesses within TeliMatrix are all independently profitable and cash-generative.

TeliMatrix has three divisions: Matrix, OmniBridge & OmniBridge Europe
About the Press Release
OmniBridge, a world leader in fleet management solutions, together with Matrix, announced the listing of TeliMatrix Limited on the Johannesburg Stock Exchange.


 
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