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

Wednesday 14th July 2021

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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

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