Cartrack targets Nasdaq listing
Introduction
Shareholders of Cartrack (“Cartrack Shareholders”) are referred to the cautionary announcements released by Cartrack on the Stock Exchange News Service (“SENS”) of the JSE Limited (“JSE”) on 09 September 2020, 22 October 2020 and 03 December 2020 wherein Cartrack Shareholders were advised that Cartrack had entered into negotiations and was exploring options with its controlling shareholder, Karooooo Pte. Ltd. (previously known as Karoo Pte. Ltd.) (“Karooooo”), wholly owned by the Cartrack founder and Group Chief Executive Officer, Mr Isaias Jose “Zak” Calisto (“Calisto”), which, if successfully concluded, may result in the restructuring of Cartrack and its subsidiaries (the “Cartrack Group”), (the “Cautionary Announcements”).