MiX Telematics Announces Financial Results for Third Quarter of Fiscal Year 2014

* Amounts less than $1,000/R1,000

South African rand amounts have been translated to U.S. dollars at the exchange rate of R10.4675 per $1.00, which was the R/$ exchange rate reported by the South African Reserve Bank as of December 31, 2013. The U.S. dollar figures may not compute as they are rounded independently.

MiX TELEMATICS LIMITED                    
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                 
  South African rand United States dollar
Figures are in thousands unless otherwise stated

Three months
ended
December 31,

Three months
ended
December 31,

Three months
ended
December 31,

Three months
ended
December 31,

2013 2012 2013 2012
          Unaudited     Unaudited       Unaudited       Unaudited
Operating activities
Cash generated from operations 52,544 67,360 5,020 6,435
Net financing income/(costs) 221 (483 ) 21 (46 )
Taxation paid       (2,628 )     (705 )       (251 )     (67 )
Net cash generated from operating activities       50,137       66,172         4,790       6,322  
 
Cash flows from investing activities
Capital expenditure, net of government grant received (32,966 ) (21,645 ) (3,149 ) (2,068 )
Proceeds on sale of property, plant and equipment and intangible assets 795 - 76 -
Increase in restricted cash       (1,228 )     (951 )       (117 )     (91 )
Net cash used in investing activities       (33,399 )     (22,596 )       (3,190 )

 

  (2,159 )
 
Cash flows from financing activities
Proceeds from issuance of ordinary shares 1,473 757 141 72
Share issue expenses incurred in anticipation of foreign

listing

(11,498 ) - (1,098 ) -
Dividends paid to company's shareholders (2 ) (26,346 ) * (2,517 )
Repayment of borrowings       (68 )     (3,161 )       (6 )     (302 )
Net cash used in financing activities       (10,095 )     (28,750 )       (963 )     (2,747 )
Net increase in cash and cash equivalents 6,643 14,826 637 1,416
Net cash and cash equivalents at the beginning of the period 703,286 3,940 67,188 376
Exchange gains on cash and cash equivalents       25,081       652         2,394       63  
Net cash and cash equivalents at the end of the period       735,010       19,418         70,219       1,855  
 

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