News

EROAD Successfully Completes Placement

Transportation technology business EROAD Limited (NZX/ASX: ERD) today announces it has successfully raised approximately NZ$42 million through its placement announced on 17 September 2020 at a price of NZ$3.90 per share (AU$3.59 per share), representing a 10.3% discount to the last close price on the NZX on 14 September 2020 of NZ$4.35; and 9.0% discount to the ten-day volume weighted average price on the NZX of NZ$4.29. Read more »

EROAD to raise capital of NZ$50 million, in conjunction with its ASX listing

Transportation technology business EROAD Limited (NZX/ASX: ERD) (EROAD) today announces it has been admitted onto the Australian Stock Exchange (ASX) on the evening of 16 September and is seeking to raise NZ$50 million through a NZ$42 million fully underwritten placement of shares (“Placement”) and a NZ$8 million share purchase plan (“SPP”). Read more »

EROAD CTO moving on

EROAD CTO Jarred Clayton has advised he has been approached by marine technology company Navico to join as its global CTO and will be moving on from EROAD after nearly 12 years. Read more »

Michael Bushby retires from EROAD Board

Michael Bushby has announced his intention to retire as an independent Director on the Board and as a member of the Remuneration, Talent and Nomination Committee and Finance, Risk and Audit Committee with effect from today. Read more »

Quarterly Operational Update and COVID-19 Update

Transport technology services company EROAD today released its regular quarterly update for the three months ended 31 March 2020 and provided an update on the impacts of COVID-19 on its business. Read more »

EROAD completes refinancing of debt facilities

EROAD has completed the previously signalled refinancing of its debt facilities and has entered into a new syndicated three-year debt facility with Bank of New Zealand and China Construction Bank. Total committed syndicated facilities amount to $60.0 million which includes $36.1 million of term debt, relating largely to refinanced debt, a new $20.0 million capital expenditure facility and a $3.9 million working capital facility. Read more »

EROAD's North American growth trajectory

EROAD continues to make headway in North America, attracting customers across all contiguous states. North America is now a developed market for EROAD, with this market alone now having equalled EROAD’s size in New Zealand when it listed on the NZX in August 2014. Read more »

EROAD Investor Day 2019

Investors will hear from members of the Executive Leadership Team who will present an update on the Company’s growth strategy, the progress achieved to date and the path to reaching the next milestone of 250,000+ subscribers. Read more »

EROAD’s win signals market leadership

EROAD has been chosen Best Large Business in the Air New Zealand Cargo Export NZ 2019 Awards. This annual award ceremony was held in Auckland late last week and recognizes success by net return to the New Zealand economy. Read more »

EROAD announces Board changes

Susan Paterson has been appointed to the Board as a non-executive director. Ms Paterson will also chair the Finance, Risk and Audit Committee.
Read more »

Business update and major North American customer signed

Integrated technology and services provider EROAD Limited (NZX:ERD) releases this market update on global performance and announces that one of the largest privately owned fleets in North America has become EROAD’s largest U.S. based customer. Read more »

EROAD appoints Chief Marketing Officer

EROAD is pleased to announce the appointment of Genevieve Tearle to the role of Chief Marketing Officer. Genevieve brings to the role experience gained working across Europe, Asia, and Americas. Her experience covers Consumer Durables, Consumer Electronics, Lighting and FMCG industries, in both B2C and B2B environments. She has held key roles in New Zealand and European corporates and understands the drivers for commercial success. Read more »

Graham Stuart appointed Chair of EROAD

Transport technology services company EROAD today announced that Michael Bushby, who has chaired the Board since December 2012, will stand down and will be succeeded as Chairman by director Graham Stuart. Read more »

EROAD moves into profit in record year of growth

EROAD Limited reported record growth of Total Contracted Units in both Australia and New Zealand and North American markets of 61.5%, revenue of $51.5 million, EBITDA of $15.0 million and Net Profit after Tax of $0.2 million. Read more »

Graham Stuart joins EROAD board

EROAD announced today that Graham Stuart will join the board of the transport technology and services company. He will also chair the Finance, Risk and Audit Committee. Read more »

EROAD Limited successfully completes equity raising

EROAD Limited (NZX: ERD) (EROAD) is pleased to announce it has successfully raised approximately NZ$15.5 million through its placement announced on 12 December 2017 at a price of NZ$3.04 per share, a 4.7% discount to EROAD’s 5 day VWAP. Read more »

EROAD Growth Funding Update

Following on from EROAD’s market announcement on 30 May 2017, Mr Newman said EROAD is pleased to announce it has accepted a credit approved facility letter of offer from the BNZ, Read more »

US Supreme Court rejects ELD lawsuit

The US Supreme Court has decided to reject a hearing on the lawsuit against the US Department of Transportation’s ELD (electronic logging device) mandate. Read more »

EROAD market update - 29 January 2016

Steven Newman, EROAD CEO, has now been based in Oregon since October 2015 and, as was signaled on 25 November 2015 at the time of releasing our half year results, we are in a position to provide an update to the market on progress to-date. Read more »

EROAD reaches 25,000 connections

EROAD Limited (NZX:ERD) announced today that earlier this week EROAD reached 25,000 units connected to its Depot platform (“Units on Depot”). Read more »