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
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Three months
|
Three months
|
Three months
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| 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 | |||||||||||||||
