8 July 2019
MTI Wireless Edge Ltd
("MTI" or the "Company")
Exercise of options and transaction in own shares
MTI Wireless Edge Ltd. (AIM: MWE), the technology group focused on comprehensive communication and radio frequency solutions across multiple sectors, announces the exercise of a total of 210,000 share options by employees of the Company on 8 July 2018. All of these options had an exercise price of 9.5 pence per new ordinary share of NIS 0.01 nominal value ("Ordinary Shares"). The Company will shortly be making an application for 210,000 new Ordinary Shares in the capital of the Company (the "New Shares") to be admitted to trading on AIM. Trading in the New Shares is expected be become effective on or around 12 July 2019.
Additionally and in accordance with the Company's Share Repurchase Programme announced on 24 January 2019, the Company announces that 241,500 Ordinary Shares were purchased on behalf of the Company on 8 July 2019, at a price of 23.083p per share. These shares will be held as treasury shares, in accordance with the terms described in the Company's announcement of 24 January 2019.
Following these transactions, the total number of Ordinary Shares held as treasury shares by the Company is 241,500 Ordinary Shares. The total number of Ordinary Shares in issue is 87,698,724 (including shares held as treasury shares). Therefore, the total number of voting rights in the Company is 87,457,224, which may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company.
In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation), the schedule below contains detailed information about the purchases made by Peterhouse Capital Limited on behalf of the Company as part of the Share Repurchase Programme.
Schedule of Purchases
Shares purchased: |
MTI Wireless Edge Ltd (ISIN: IL0010958762) |
Date of purchases: |
8 July 2019 |
Investment firm: |
Peterhouse Capital Limited |
Aggregate information:
Venue |
Volume-weighted
average price, pence |
Aggregated volume |
London Stock Exchange |
23.083p |
241,500 |
Individual transaction:
Number of Ordinary Shares purchased |
Transaction price
(pence per Ordinary Share) |
Time of transaction |
Trading venue |
241,500 |
23.083p |
11:30 |
London Stock Exchange |
For further information please contact:
MTI Wireless Edge Ltd +972 3 900 8900
Moni Borovitz, CEO http://www.mtiwirelessedge.com
Allenby Capital Limited (Nomad and Joint Broker) +44 20 3328 5656
Nick Naylor
Alex Brearley
Peterhouse Corporate Finance Limited (Joint Broker) +44 20 7469 0930
Lucy Williams
Eran Zucker
About MTI Wireless Edge Ltd
Headquartered in Israel, MTI is a technology group focused on comprehensive communication and radio frequency solutions across multiple sectors through three core divisions:
Antenna Division
MTI is a world leader in the design, development and production of high quality, state-of-the-art, and cost-effective antenna solutions including Smart Antennas, MIMO Antennas and Dual Polarity Antennas for wireless applications. MTI supplies antennas for both military and commercial markets from 100 KHz to 90 GHz.
Internationally recognized as a producer of commercial off-the-Shelf and custom-developed antenna solutions in a broad frequency range, MTI addresses both commercial and military applications.
MTI supplies directional and omnidirectional antennas for outdoor and indoor deployments, including smart antennas for WiMAX, Broadband access, public safety, RFID, base stations and terminals for the utility market.
Military applications include a wide range of broadband, tactical and specialized communication antennas, antenna systems and DF arrays installed on numerous airborne, ground and naval, including submarine, platforms worldwide.
Water Control & Management Division
Via its subsidiary, Mottech Water Solutions Ltd ("Mottech"), MTI provides high-end remote control solutions for water and irrigation applications based on Motorola's IRRInet state-of-the-art control, monitoring and communication technologies.
As Motorola's global prime-distributor Mottech serves its customers worldwide through its international subsidiaries and a global network of local distributors and representatives. With over 25 years of experience in providing customers with irrigation remote control and management, Mottech's solutions ensure constant, reliable and accurate water usage, while reducing operational and maintenance costs. Mottech's activities are focused in the market segments of agriculture, water distribution, municipal and commercial landscape as well as wastewater and storm-water reuse.
Distribution & Professional Consulting Services Division
Via its subsidiary, MTI Summit Electronics Ltd., MTI offers consulting, representation and marketing services to foreign companies in the field of RF and Microwave solutions and applications including engineering services (including design and integration) in the field of aerostat systems and the ongoing operation of Platform subsystems, SIGINT, RADAR, communication and observation systems which is performed by the Company.
