EROAD Limited (NZX: ERD) Announces Acquisition of Coretex and Equity Raising

EROAD Limited is pleased to announce that it has entered into a conditional agreement to acquire 100% of Coretex Limited, a telematics vertical specialist provider delivering enterprise grade solutions, partly funded by an underwritten conditional placement to raise NZ$64.4m and a share purchase plan to raise NZ$16.1m.

The acquisition is expected to complete in early H2 FY22 and is subject to conditions, including Commerce Commission clearance in relation to Coretex’s New Zealand business, Overseas Investment Office approval and EROAD shareholder approval.

Please see the links below for details

Market Announcement

Chair's Letter

Notice of Special Meeting

Independent Report

Cleansing Notice

NZX Corporate Action Notice

Investor Presentation

Source: EROAD Limited

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

FPH launches F&P Nova™ Nasal mask in NZ and AU
Fonterra announces changes to management team
March 12th Morning Report
WHS FY25 Interim Results teleconference details
VGL - Odeon Cinemas Group signs for Vista Cloud
DGL - T&G appoints new Director
TEM - Transaction in Own Shares
Fonterra lifts FY25 earnings guidance
Fonterra releases divestment roadshow presentation
March 10th Morning Report