WOODCLIFF LAKE, N.J., Oct. 30,
2023 /PRNewswire/ -- PowerFleet, Inc.
(Nasdaq: PWFL) and MiX Telematics Limited (NYSE:
MIXT, JSE: MIX) will host a joint Investor Day with financial
analysts and institutional investors on Thursday, November 16 at The InterContinental New
York Barclay hotel in New York,
NY. Presentations are scheduled to begin at 2:00 p.m. Eastern time and end at approximately
5:00 p.m. Eastern time.
Powerfleet and MiX Telematics leadership teams will share the
strategic rationale and expected benefits for the previously
announced business combination, which will create one of the
largest mobile asset Internet of Things (IoT) Software-as-a-Service
(SaaS) providers in the world. Powerfleet CEO Steve Towe and CFO David Wilson, MiX CEO Stefan Joselowitz and CFO Paul Dell, along with other senior leaders from
the Powerfleet and MiX organizations, will present the vision,
integration strategy, growth drivers, go-to-market approach, Unity
platform and AI roadmap, customer success stories, and financial
targets for the combined business, followed by a live Q&A.
In-person attendance is by invitation only. For those who would
like to attend the event in-person, please contact respectively
Powerfleet's investor relations team at
PWFL@gateway-grp.com or MiX's investor relations team at
MiXT@gatewayir.com. A live webcast will be available on the
investor relations section of each company's website. A replay
of the webcast will be available shortly after the event
concludes.
ABOUT POWERFLEET
Powerfleet (Nasdaq: PWFL; TASE: PWFL) is a global leader of
internet of things (IoT) software-as-a-service (SaaS) solutions
that optimize the performance of mobile assets and resources to
unify business operations. Our data science insights and advanced
modular software solutions help drive digital transformation
through our customers' and partners' ecosystems to help save lives,
time, and money. We help connect companies, enabling customers and
their customers to realize more effective strategies and results.
Powerfleet's tenured and talented team is at the heart of our
approach to partnership and tangible success. The company is
headquartered in Woodcliff Lake, New
Jersey, with our Pointer Innovation Center (PIC) in
Israel and field offices around
the globe. For more information, please visit
www.powerfleet.com.
ABOUT MIX TELEMATICS
MiX Telematics is a leading
global provider of fleet and mobile asset management solutions
delivered as SaaS to over 1 million global subscribers spanning
more than 120 countries. The company's products and services
provide enterprise fleets, small fleets, and consumers with
efficiency, safety, compliance, and security solutions. MiX
Telematics was founded in 1996 and has offices in South Africa, the United Kingdom, the
United States, Uganda,
Brazil, Mexico and Australasia as well as a network of
more than 130 fleet partners worldwide. MiX Telematics shares are
publicly traded on the Johannesburg Stock Exchange ("JSE") (JSE:
MIX) and the New York Stock Exchange (NYSE: MIXT). For more
information, visit www.mixtelematics.com.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains forward-looking
statements within the meaning of federal securities laws.
Powerfleet's, MiX's and the combined business's actual results may
differ from their expectations, estimates and projections and
consequently, you should not rely on these forward-looking
statements as predictions of future events. Words such as "expect,"
"estimate," "project," "budget," "forecast," "anticipate,"
"intend," "plan," "may," "will," "could," "should," "believes,"
"predicts," "potential," "continue," and similar expressions are
intended to identify such forward-looking statements.
These forward-looking statements include, without limitation, the
parties' expectations with respect to their beliefs, plans, goals,
objectives, expectations, anticipations, assumptions, estimates,
intentions and future performance, as well as anticipated financial
impacts of the proposed transaction, the satisfaction of the
closing conditions to the proposed transaction and the timing of
the completion of the proposed transaction. Forward-looking
statements involve significant known and unknown risks,
uncertainties and other factors, which may cause their actual
results, performance or achievements to be materially different
from the future results, performance or achievements expressed or
implied by such forward-looking statements. All statements other
than statements of historical fact are statements that could be
forward-looking statements. Most of these factors are outside the
parties' control and are difficult to predict. The risks and
uncertainties referred to above include, but are not limited to,
risks related to: (i) the completion of the proposed transaction in
the anticipated timeframe or at all; (ii) the satisfaction of the
closing conditions to the proposed transaction including, but not
limited to the ability to obtain approval of the stockholders of
Powerfleet and shareholders of MiX and the ability to obtain
financing; (iii) the failure to obtain necessary regulatory
approvals; (iv) the ability to realize the anticipated benefits of
the proposed transaction; (v) the ability to successfully integrate
the businesses; (vi) disruption from the proposed transaction
making it more difficult to maintain business and operational
relationships; (vii) the negative effects of the announcement of
the proposed transaction or the consummation of the proposed
transaction on the market price of MiX's or Powerfleet's
securities; (viii) significant transaction costs and unknown
liabilities; (ix) litigation or regulatory actions related to the
proposed transaction; and (x) such other factors as are set forth
in the periodic reports filed by MiX and Powerfleet with the
Securities and Exchange Commission ("SEC"), including but not
limited to those described under the heading "Risk Factors" in
their annual reports on Form 10-K, quarterly reports on Form 10-Q
and any other filings made with the SEC from time to time, which
are available via the SEC's website at http://www.sec.gov. Should
one or more of these risks or uncertainties materialize, or should
underlying assumptions prove incorrect, actual results may vary
materially from those indicated or anticipated by these
forward-looking statements. Therefore, you should not rely on any
of these forward-looking statements.
The forward-looking statements included in this press release
are made only as of the date of this press release, and except as
otherwise required by applicable securities law, neither MiX nor
Powerfleet assumes any obligation nor do they intend to publicly
update or revise any forward-looking statements to reflect
subsequent events or circumstances.
ADDITIONAL INFORMATION AND WHERE TO FIND IT
In
connection with the proposed transaction, Powerfleet intends to
file with the SEC a registration statement on Form S-4 that
will include a joint proxy statement of Powerfleet and MiX and
a prospectus of Powerfleet.
Additionally, MiX is preparing a scheme circular for MiX
shareholders in accordance with the Companies Act of South Africa (including the Companies Act
Regulations, 2011 thereunder) and the JSE Listings Requirements,
including a notice of general meeting convening a shareholder
meeting at which MiX shareholders will be asked to vote on the
proposed transaction, which, together with the Powerfleet
prospectus, will contain all relevant information for MiX
shareholders voting on the proposed transaction. The scheme
circular will be issued to MiX shareholders together with the joint
proxy statement and the Powerfleet prospectus. If you hold MiX
ordinary shares through an intermediary such as a broker/dealer or
clearing agency, or if you hold MiX ADSs, you should consult with
your intermediary or The Bank of New York Mellon, the depositary
for the MiX ADSs, as applicable, about how to obtain information on
the MiX shareholder meeting.
After Powerfleet's registration statement has been filed and
declared effective by the SEC, Powerfleet will send the
definitive proxy statement/prospectus to the Powerfleet
shareholders entitled to vote at the meeting relating to the
proposed transaction, and MiX will send the scheme circular,
together with the definitive proxy statement and Powerfleet
prospectus, to MiX shareholders entitled to vote at the meeting
relating to the proposed transaction. MiX and Powerfleet may file
other relevant materials with the SEC in connection with the
proposed transaction. INVESTORS AND SHAREHOLDERS ARE URGED TO
READ THE REGISTRATION STATEMENT, JOINT PROXY STATEMENT/PROSPECTUS
(INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO AND ANY DOCUMENTS
INCORPORATED BY REFERENCE THEREIN), THE SCHEME CIRCULAR AND OTHER
DOCUMENTS THAT MAY BE FILED WITH THE SEC CAREFULLY AND IN THEIR
ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL
CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION.
Investors and shareholders will be able to obtain free copies of
these documents (if and when available) and other documents
containing important information about Powerfleet and MiX once such
documents are filed with the SEC through the website maintained by
the SEC at www.sec.gov. Powerfleet or MiX make available copies of
materials they file with, or furnish to, the SEC free of charge at
https://ir.powerfleet.com and http://investor.mixtelematics.com,
respectively.
NO OFFER OR SOLICITATION
This communication shall not
constitute an offer to buy or sell any securities, or the
solicitation of an offer to buy or sell any securities, nor shall
there be any sale of securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such
jurisdiction. No offer of securities shall be made except by means
of a prospectus meeting the requirements of Section 10 of the
Securities Act of 1933, as amended.
PARTICIPANTS IN THE SOLICITATION
Powerfleet, MiX and
their respective directors, executive officers and certain
employees and other persons may be deemed to be participants in the
solicitation of proxies from the shareholders of Powerfleet and MiX
in connection with the proposed transaction. Securityholders may
obtain information regarding the names, affiliations and interests
of Powerfleet's directors and executive officers in its Annual
Report on Form 10-K for the fiscal year ended December 31, 2022, which was filed with the SEC
on March 31, 2023, its amended Annual
Report on Form 10-K/A for the year ended December 31, 2022, which was filed with the SEC
on May 1, 2023, and its definitive
proxy statement for its 2023 annual meeting of stockholders, which
was filed with the SEC on June 21,
2023. Securityholders may obtain information regarding the
names, affiliations and interests of MiX's directors and executive
officers in its Annual Report on Form 10-K for the year ended
March 31, 2023, which was filed with
the SEC on June 22, 2023, and its
definitive proxy statement for its 2023 annual general meeting of
shareholders, which was filed with the SEC on July 28, 2023. Other information regarding the
participants in the proxy solicitations and a description of their
direct and indirect interests, by security holdings or otherwise,
will be contained in the joint proxy statement/prospectus and other
relevant materials to be filed with the SEC regarding the proposed
transaction when such materials become available. Investors should
read the joint proxy statement/prospectus carefully when it becomes
available before making any voting or investment decisions. You may
obtain free copies of these documents from Powerfleet or MiX using
the sources indicated above.
Powerfleet Investor Contact
Matt Glover
Gateway Group, Inc.
PWFL@gateway-grp.com
+1 (949) 574-3860
Powerfleet Media Contact
Andrea Hayton
ahayton@powerfleet.com
+1 (610) 401-1999
MiX Telematics Investor Contact
Cody Cree
Gateway Group, Inc.
+1 (949) 574-3860
MIXT@gateway-grp.com
MiX Telematics Media Contact
Jonathan Bates
jonathan.bates@mixtelematics.com
+44 7921 242892
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SOURCE Powerfleet