| Tue 30 Oct 2007, 9:04 | | MIX - TeliMatrix Limited - Abridged Pre-Listing St |
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JSE
MIX
MIX - TeliMatrix Limited - 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 office hours from the registered office of the
company, being, Matrix Corner, Howick Close, Waterfall Park, Midrand until 12
November 2007.
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.
BRIEF OVERVIEW OF TELIMATRIX
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.
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).
Matrix
Founded in 1995 by current TeliMatrix CEO Stefan Joselowitz, Matrix is one of
the largest vehicle tracking and recovery businesses in South Africa.
With over 135 000 active subscribers it has the largest GSM tracking subscriber
base in the country.
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.
In its 12 years of operation the business has developed some of the most
advanced vehicle recovery units in the market.
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.
OmniBridge SA
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.
OmniBridge owns the intellectual property ("IP") for its comprehensive range of
vehicle and fleet management products (the VDO Fleet Manager range of products).
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.
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.
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.
They have an installed base of over 300 000 on-board computers worldwide.
OmniBridge recently launched a subscription-based data delivery service called
FM-Web which already has 14,000 connections generating healthy recurring
revenue.
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.
OmniBridge Europe
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.
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.
A large portion of Datatrak`s business revenue is derived from an annuity
subscriber base.
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.
80% of cash-in-transit vehicles in the UK are fitted with Datatrak products.
OmniBridge Europe has an established network of active and committed VDO Fleet
Manager distributors throughout Central- and Eastern-Europe and the Middle East.
DIRECTORS
The board of directors of TeliMatrix are:
Director Business address
Stefan Joselowitz (Chief Matrix Corner, Howick Close, Waterfall
Executive Officer) Park, Midrand
Richard Bruyns (Non- 294 Camargue Road, Bealieu, Midrand
Executive
Director/Chairman)
Terry Buzer (Executive Matrix Corner, Howick Close, Waterfall
Director) Park, Midrand
Howard Scott (Financial Matrix Corner, Howick Close, Waterfall
Director) Park, Midrand
Riette Botha (Executive Matrix Corner, Howick Close, Waterfall
Director) Park, Midrand
Charles Tasker (Executive Blaauwklip Office Park 2, Corner Strand and
Director) Webersvallei Road, Stellenbosch
Richard Friedman (Non- 28 Wiganthorpe Road, Pietermartizburg, 3201
Executive Director)
Afzal Patel (Non-Executive 16 Fricker Road, Illovo, 2196
Director)
Robin Frew (Non-Executive Office Suite 1, The Old Bakery, Corner Main
Director) and Lincon Roads, Lakeside, Cape Town
Other than Howard Scott, who is Australian, all of the directors are South
African citizens. It is intended that Howard Scott will resign as a director of
TeliMatrix once a suitable replacement Financial Director has been identified
and appointed to the board of directors of TeliMatrix.
SECTOR
The pre-listing statement stated that the company would be listed on the
Electronic and Electrical Equipment - Electronic Equipment sector of the JSE
lists. However, as the business of the group comprises predominantly services
and not the manufacture and distribution of electronic equipment, JSE/FTSE has
determined that the company be listed in the Support Services - Business Support
Services sector of the JSE lists.
LISTING ON THE JSE
The JSE has granted TeliMatrix approval for the listing of 640 000 000 shares in
the Support Services - Business Support Services sector of the JSE lists under
the abbreviated name "Matrix" JSE Code "MIX" and "ISIN ZAE000104683".
The listing will be effective as from the commencement of trade on the JSE on
Monday, 12 November 2007.
Midrand
30 October 2007
Corporate advisor, legal advisor and sponsor
Java Capital (Proprietary) Limited
Auditors and reporting accountants
PricewaterhouseCoopers Inc. and PricewaterhouseCoopers Advisory Services
(Proprietary) Limited
Date: 30/10/2007 09:04:45 Produced by the JSE SENS Department.
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