EROAD announces Acquisition of Coretex and Equity Raising

EROAD Limited (NZX/ASX: ERD) is pleased to announce that it has entered into a conditional agreement to acquire 100% of Coretex Limited ("Coretex"), 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. EROAD will host a conference call to discuss the acquisition and capital raise at 12:30 NZST / 10:30 AEST on Wednesday 14th July. Register in advance for this meeting: https://us02web.zoom.us/meeting/register/tZEpdOmhqjwoHdxq-LKt9SbH3lMBRwRhVa_g After registering, you will receive a confirmation email containing information about joining the meeting. Included in this announcement is: 1. Market Announcement 2. Chair's Letter 3. Investor Presentation 4. Notice of Meeting 5. Independent Report 6. Cleansing Notice 7. NZX Corporate Action Notice ENDS Authorised for release to the NZX and ASX by EROAD's Board of Directors. For Investor enquires please contact: Anna Bonney Investor Relations +64 21844155 anna@merlinconsulting.co.nz For Media enquiries please contact: Thrive pr + communications: Australia: Christy LaPlante - +61 439 246 489 New Zealand Helena Nuich - +64 21 143 9273 eroad@thrivepr.com.au End CA:00375595 For:ERD Type:OFFER Time:2021-07-14 08:30:36