REG - MTI Wireless Edge - PDMR Shareholding and Exercise of Options

MTI Wireless EdgeAnnouncement

07/09/2020 07:00

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RNS Number : 1483Y  MTI Wireless Edge Limited  07 September 2020

 

7 September 2020

 

MTI Wireless Edge Ltd

("MTI" or the "Company")

 

PDMR Shareholding and Exercise of Options

 

MTI Wireless Edge Ltd. (AIM: MWE), the technology group focused on
comprehensive communication and radio frequency solutions across multiple
sectors, announces an exercise of options and sales of ordinary shares by Mr.
David Shani, the Chief Executive Officer of Mottech Water Solutions Ltd. (the
Company's water control and management subsidiary).

 

On 4 September 2020, Mr. Shani sold a total of 600,000 ordinary shares in the
Company at a weighted average price of 40.25 pence per ordinary share and has
also exercised 600,000 options to subscribe for new ordinary shares in the
Company. The aforementioned options had an exercise price of 27 pence per
ordinary share.  The notification below, made in accordance with the
requirements of the EU Market Abuse Regulation, provides further detail.

 

Following the above actions, Mr Shani does not have a beneficial interest in
the Company's ordinary shares or options. The Company now has only 20,000
share options that remain granted under its current option plan, which are
held by one employee.

 

Following the above exercise of options, MTI has made an application for
600,000 new ordinary shares in the Company (the "New Shares") to be admitted
to trading on AIM. Trading in the New Shares is expected to become effective
on 10 September 2020.

 

Following the above, the total number of ordinary shares in issue is now
88,518,724. The Company does not currently hold any ordinary shares in
treasury. Therefore, the total number of voting rights in the Company is
88,518,724, 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.

 

Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them

 

 1    Details of the person discharging managerial responsibilities / person closely
      associated
 a)   Name                                                         David Shani
 2    Reason for the notification
 a)   Position/status                                              CEO of Mottech Water Solutions Ltd.
 b)   Initial notification /Amendment                              Initial notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         MTI Wireless Edge Ltd
 b)   LEI                                                          2138003Y3AHVBB1QCY91
 4    Details of the transaction(s): section to be repeated for (i) each type of

    instrument; (ii) each type of transaction; (iii) each date; and (iv) each
      place where transactions have been conducted
 a)   Description of the financial instrument, type of instrument  Ordinary shares of 0.01 Israeli shekels each

 
      Identification code

                                                                   Identification code (ISIN) for MTI Wireless Edge Ltd's ordinary shares:
                                                                   IL0010958762
 b)   Nature of the transaction                                    Exercise of options and disposal of ordinary shares
 c)   Price(s) and volume(s)                                       Price(s)                       Volume(s)
                                                                   Exercise of options:           Exercise of options:

                                                                   £0.27                          600,000

                                                                   Disposal of ordinary shares:   Disposal of ordinary shares:

                                                                   £0.41                          150,000

                                                                   £0.39                          300,000

                                                                   £0.42                          150,000

 
 d)   Aggregated information
      - Aggregated volume                                          Exercise of options: 600,000

                                                                   Disposal of ordinary shares: 600,000
      - Price                                                      Exercise of options: £162,000

                                                                   Disposal of ordinary shares: £241,500
 e)   Date of the transaction                                      Exercise of options: 4 September 2020

                                                                   Disposal of ordinary shares: 4 September 2020
 f)   Place of the transaction                                     Exercise of options: Outside a Trading Venue

                                                                   Disposal of ordinary shares: London Stock Exchange (XLON), AIM market

 

d)

Aggregated information

 

 

- Aggregated volume

Exercise of options: 600,000

Disposal of ordinary shares: 600,000

 

- Price

Exercise of options: £162,000

Disposal of ordinary shares: £241,500

e)

Date of the transaction

Exercise of options: 4 September 2020

Disposal of ordinary shares: 4 September 2020

f)

Place of the transaction

Exercise of options: Outside a Trading Venue

Disposal of ordinary shares: London Stock Exchange (XLON), AIM market

 

 

For further information please contact:

 

MTI Wireless Edge Ltd
 
    +972 3 900 8900

Moni Borovitz, CEO
                                                                    http://www.mtiwirelessedge.com
(http://www.mtiwirelessedge.com)

 

Allenby Capital Limited (Nomad and Joint Broker)
 
+44 20 3328 5656

Nick Naylor, Alex Brearley (Corporate Finance)

Guy McDougall (Equity Sales)

 

Peterhouse Capital Limited (Joint
Broker)
         +44 20 7469 0930

Lucy Williams

Eran Zucker

 

Novella (Financial PR)
 
    +44 20 3151 7008

Tim Robertson

Fergus Young

 

About MTI Wireless Edge Ltd. ("MTI")

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.

 

 

 

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