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June 30, 2014
09:17 EDTMICTMicronet Enertec purchased 3.9% of Micronet and increased ownership to 62.5%
Micronet Enertec announced that its wholly owned subsidiary Enertec Electronics, Ltd. signed a definitive agreement to acquire 736,341 shares of Micronet constituting 3.9% of the issued and outstanding shares of Micronet from Rafi Katz, Micronet's former CEO. The consideration for the purchased shares is $642,000. After closing of the transaction, the Company's ownership will increase to 62.5% of the issued and outstanding shares of Micronet.
News For MICT From The Last 14 Days
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July 1, 2015
09:43 EDTMICTMicronet Enertec awarded $1.4M purchase order for MRM All-In-One tablets
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June 18, 2015
10:12 EDTMICTMicronet Enertec signs binding MOU to supply tablets, telematics solutions
Micronet Enertec Technologies announced that its Mobile Resource Management subsidiary Micronet executed a binding Memorandum Of Understanding, or MOU, to be the exclusive supplier of rugged tablets and other telematics equipment to a "leading MRM solution provider." The exclusivity arrangement pursuant to the MOU is for the later of two years or the delivery by Micronet to the customer of 20,000 units of Micronet's All In One A317 rugged tablet and a new Android-based On Board Computer. The parties agreed to use best efforts to enter into a definitive supply and purchase agreement, which will replace the MOU, by July 15. As part of the MOU, the customer agreed to place an initial purchase order for 4,000 units, valued at a minimum price of $950,000, which will be delivered by Micronet by the end of 2015. Based on inputs from the customer, management estimates that the potential value of this engagement may reach $4.7M.

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