| Mon 29 Oct 2007, 16:50 | | MIX - TeliMatrix - Abridged Pre-Listing Statement: |
|
JSE
MIX
MIX - TeliMatrix - Abridged Pre-Listing Statement: Listing Of Telimatrix Shares
On The JSE Limited
TeliMatrix Limited
(Incorporated in the Republic of South Africa)
Registration number 1995/013858/06)
JSE Code: MIX
ISIN: ZAE000104683
("TeliMatrix" or "the company")
ABRIDGED PRE-LISTING STATEMENT: LISTING OF TELIMATRIX SHARES ON THE JSE LIMITED
This abridged pre-listing statement is not an invitation to the public to
subscribe for TeliMatrix shares, but is issued in compliance with the JSE
Listings Requirements for information purposes only. The information in this
abridged pre-listing statement has been extracted from the pre-listing statement
issued by TeliMatrix on 13 September 2007 ("the pre-listing statement"), copies
of which may be obtained during normal office hours from the registered office
of the company, being, Matrix Corner, Howick Close, Waterfall Park, Midrand
until 12 November 2007.
1. INTRODUCTION
Established in 1995, TeliMatrix is focused on all levels of vehicle
telematics, combining vehicle tracking, driver/passenger safety and
recovery services with a complete range of fleet management products and
services.
Significant features of the TeliMatrix group include the following:
- the group has pro forma historical annual turnover in excess of R578
000 000 and earnings before interest, tax, depreciation and
amortisation in excess of R128 000 000;
- the group has substantial annuity revenue streams from a subscriber
base of more than 165 000;
- 59% of group turnover is recurring;
41% of group turnover is earned in foreign exchange;
- the group has a state-of-the art technology platform and product
development capability together with leading technology in all of the
areas it operates;
- the group has prominent international brands including Matrix, VDO
Fleet Manager and Datatrak; and
- the group has its own operations in South Africa, the United Kingdom
and Germany together with a global distribution network selling in
over 75 countries on 6 continents.
2. BRIEF OVERVIEW OF TELIMATRIX
2.1 History
TeliMatrix was established in 1995 as a vehicle tracking and recovery
business operating under the Matrix brand. In 2005 the business of
TeliMatrix was sold to Matrix Vehicle Tracking (Proprietary) Limited
("Matrix") to accommodate the introduction of Kagiso as an empowerment
partner.
In 2007 TeliMatrix acquired Control Instruments OmniBridge (Proprietary)
Limited ("OmniBridge") and Control Instruments OmniBridge Limited (a
company incorporated in the United Kingdom) ("OmniBridge UK"), which own
the fleet and vehicle management operations previously owned by Control
Instruments Group Limited, to create an integrated group focusing on all
levels of vehicle telematics.
Already a large international player in its field, the group`s vision is to
be a leading global provider of information and related services for mobile
assets.
2.2 Nature of the business
Operationally, the TeliMatrix group`s operating divisions comprise Matrix
(whose product range includes the MX Range and Crash Alert), OmniBridge SA
(whose product range includes the VDO Fleet Manager range) and OmniBridge
Europe (whose product range includes Datatrak and the VDO Fleet Manager
range).
2.2.1 Matrix
2.2.1.1 Founded in 1995 by current TeliMatrix CEO Stefan Joselowitz,
Matrix is one of the largest vehicle tracking and recovery
businesses in South Africa.
2.2.1.2. With over 135 000 active subscribers it has the largest GSM
tracking subscriber base in the country.
2.2.1.3 Matrix`s core activity is vehicle recovery and the business
owns its own helicopter and operates a network of dedicated
ground response teams throughout South Africa.
2.2.1.4 In its 12 years of operation the business has developed some
of the most advanced vehicle recovery units in the market.
2.2.1.5 Advanced technology gives Matrix a significant competitive
advantage and has allowed it to expand its product offering
and focus on value-added services beyond traditional theft
recovery. Examples of these value-added services include
features such as "Crash Alert" and "No-Go Zones" both of
which reflect Matrix`s focus on personal and family safety
and peace of mind.
2.2.2 OmniBridge SA
2.2.2.1 Founded in 1997 by current CEO Charles Tasker, OmniBridge
specializes in the design, development and sale of fleet
management products and services for the commercial vehicle
market globally.
2.2.2.2 OmniBridge owns the intellectual property ("IP") for its
comprehensive range of vehicle and fleet management products
(the VDO Fleet Manager range of products).
2.2.2.3 The products offer the full suite of information for
complete fleet management including information about
vehicle performance, driver performance, fuel consumption,
location, tracking and utilization. Its products provide a
wide range of solutions, primarily targeted at driver
safety, productivity, and risk management.
2.2.2.4 Illustrating how good OmniBridge`s products are, in 1997,
Siemens VDO abandoned its own internal on-board computer
project and signed a deal to brand and distribute the
OmniBridge product range worldwide on an exclusive basis.
2.2.2.5 Today, OmniBridge`s products are sold in over 75 countries
(on six continents) through a global distribution network.
OmniBridge`s product brands include VDO Fleet Manager and
Datatrak.
2.2.2.6 They have an installed base of over 300 000 on-board
computers worldwide.
2.2.2.7 OmniBridge recently launched a subscription-based data
delivery service called FM-Web which already has 14,000
connections generating healthy recurring revenue.
2.2.2.8 In 2007, a unique opportunity presented itself in that
Siemens decided to exit all of its automotive businesses. In
this process, OmniBridge was able to secure direct control
of its worldwide distribution network as well as a direct
presence in the United Kingdom and Europe.
2.2.3 OmniBridge Europe
2.2.3.1 Born out of OmniBridge`s acquisition of Siemens`s fleet
management business in 2007, OmniBridge UK forms the hub of
the group`s distribution into Europe and the Middle East
with offices in the UK and Germany.
2.2.3.2 Also part of the acquisition from Siemens, Datatrak is a
vehicle tracking, fleet management and vehicle telematics
business based in the United Kingdom. It has its own
proprietary communications network covering large parts of
the United Kingdom.
2.2.3.3 A large portion of Datatrak`s business revenue is derived
from an annuity subscriber base.
2.2.3.4 Datatrak`s largest customer, Securicor has recently signed a
further 5 year contract with an annual value to the group of
in excess of GBP1 million per annum.
2.2.3.5 80% of cash-in-transit vehicles in the UK are fitted with
Datatrak products.
2.2.3.6 OmniBridge Europe has an established network of active and
committed VDO Fleet Manager distributors throughout Central-
and Eastern-Europe and the Middle East.
3. DIRECTORS
The board of directors of TeliMatrix are:
Date: 29/10/2007 16:50:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
