REG - MTI Wireless Edge - Completion of scrip dividend <Origin Href="QuoteRef">MWEE.L</Origin>

MTI Wireless EdgeAnnouncement

05/04/2017 08:35

RNS Number : 5729B
MTI Wireless Edge Limited
05 April 2017
5 April 2017 
MTI Wireless Edge Ltd
("MTI" or the "Company")
Completion of scrip dividend
Notification of Major Interest in Shares
Further to the announcement made by the Company on 21 March 2017, MTI Wireless Edge Ltd. (MWE), announces that pursuant to the Company's scrip dividend alternative, 1,022,328 new ordinary shares in the capital of the Company ("Ordinary Shares") have today been issued and the admission of these shares to trading on AIM ("Admission") became effective at 8.00 a.m. this morning. 
MTI Computers & Software Services (1982) Ltd ("MTIC") has elected to receive 977,537 Ordinary Shares through its participation in the scrip dividend alternative. MTIC now holds a total of 28,009,434 Ordinary Shares, which represents 53.0% of the voting rights in the enlarged issued ordinary share capital of the Company. MTIC is controlled by Mokirey Aya, a company controlled by the Borovitz family. 
Additionally, three persons discharging managerial responsibilities ("PDMRs"), elected to participate in the scrip dividend alternative in respect of their direct holdings in the Company.
Following Admission, the Company now has 52,861,818 Ordinary Shares in issue and admitted to trading on AIM. This figure, 52,861,818 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. 
The FCA notifications, made in accordance with the requirements of the EU Market Abuse Regulation, are appended further below and give further details on the participation in the scrip dividend alternative for directors and PDMRs and persons closely associated with them.
For further information please contact:
MTI Wireless Edge
Dov Feiner, CEO
Moni Borovitz, Financial Director
http://www.mtiwe.com/
+972 3 900 8900
Nomad and Joint Broker
Allenby Capital Limited
Nick Naylor
Alex Brearley
+44 20 3328 5656
Joint Broker
Peterhouse Corporate Finance Limited
Lucy Williams
Eran Zucker
+44 20 7469 0930
About MTI Wireless Edge
MTI is engaged in the development, production and marketing of High Quality, Low Cost, Flat Panel Antennas for Commercial & for Military applications. Commercial applications such as: WiMAX, Wireless Networking, RFID readers &, Broadband Wireless Access. With over 40 years' experience, supplying antennas 100KHz to 90GHz including directional antennas and Omni directional for outdoor and indoor deployments including Smart Antennas for WiMAX, Wi-Fi, Public Safety, RFID and for Base Stations and Terminals - Utility Market. Military applications include a wide range of broadband, tactical and specialized communications antennas, antenna systems and DF arrays installed on numerous airborne, ground and naval, including submarine, platforms worldwide.
Via its subsidiary, Mottech Water Solutions Ltd ("Mottech"), MTI is also a leading provider of remote control solutions for water and irrigation applications based on Motorola's IRRInet state of the art control, monitoring and communication technologies. Mottech, headquartered in Israel, is the global prime distributor of Motorola for the IRRInet remote control solutions serving its customers worldwide through its subsidiaries and a global network of local distributers and representatives. It utilizes over 25 years of experience in providing its customers with remote control and management systems which ensure constant, reliable and accurate water usage, while reducing operational costs and maintenance costly expenses. Mottech's activities are focused in the market segments of agriculture, water distribution, Municipal and Commercial Landscape and Wastewater and Storm water Reuse.
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
Zvi Borovitz
2
Reason for the notification
a)
Position/status
Director - Non Executive Chairman
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
Identification code
Ordinary shares of 0.01 Israeli shekels each
Identification code (ISIN) for MTI Wireless Edge Ltd's ordinary shares: IL0010958762
b)
Nature of the transaction
Participation in scrip dividend
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Scrip reference price of 22.55 pence per share
25,516 ordinary shares were acquired through participation in a scrip dividend
d)
Aggregated information
- Aggregated volume
- Price
Single transaction as in 4 c) above 
25,516 ordinary shares were acquired through participation in a scrip dividend
Scrip reference price of 22.55 pence per share
e)
Date of the transaction
5 April 2017
f)
Place of the transaction
Outside of trading venue - Participation in scrip dividend
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Moni Borovitz
2
Reason for the notification
a)
Position/status
Director - Financial Director
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
Identification code
Ordinary shares of 0.01 Israeli shekels each
Identification code (ISIN) for MTI Wireless Edge Ltd's ordinary shares: IL0010958762
b)
Nature of the transaction
Participation in scrip dividend
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Scrip reference price of 22.55 pence per share
3,269 ordinary shares were acquired through participation in a scrip dividend
d)
Aggregated information
- Aggregated volume
- Price
Single transaction as in 4 c) above
3,269 ordinary shares were acquired through participation in a scrip dividend
Scrip reference price of 22.55 pence per share
e)
Date of the transaction
5 April 2017
f)
Place of the transaction
Outside of trading venue - Participation in scrip dividend
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
MTI Computers & Software Services (1982) Ltd
2
Reason for the notification
a)
Position/status
MTI Computers & Software Services (1982) Ltd is a person closely associated with MTI Wireless Edge Ltd's Non Executive Chairman, Zvi Borovitz and MTI Wireless Edge Ltd's Financial Director, Moni Borovitz, both of whom are persons discharging managerial responsibilities
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
Identification code
Ordinary shares of 0.01 Israeli shekels each
Identification code (ISIN) for MTI Wireless Edge Ltd's ordinary shares: IL0010958762
b)
Nature of the transaction
Participation in scrip dividend
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Scrip reference price of 22.55 pence per share
977,537 ordinary shares were acquired through participation in a scrip dividend
d)
Aggregated information
- Aggregated volume
- Price
Single transaction as in 4 c) above 
MTI Computers & Software Services (1982) Ltd acquired 977,537 ordinary shares through participation in a scrip dividend
Scrip reference price of 22.55 pence per share
e)
Date of the transaction
5 April 2017
f)
Place of the transaction
Outside of trading venue - Participation in scrip dividend
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Menashe Mani
2
Reason for the notification
a)
Position/status
Chief Executive Officer of MTI Computers & Software Services (1982) 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
Identification code
Ordinary shares of 0.01 Israeli shekels each
Identification code (ISIN) for MTI Wireless Edge Ltd's ordinary shares: IL0010958762
b)
Nature of the transaction
Participation in scrip dividend
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Scrip reference price of 22.55 pence per share
6,075 ordinary shares were acquired through participation in a scrip dividend
d)
Aggregated information
- Aggregated volume
- Price
Single transaction as in 4 c) above 
6,075 ordinary shares were acquired through participation in a scrip dividend
Scrip reference price of 22.55 pence per share
e)
Date of the transaction
5 April 2017
f)
Place of the transaction
Outside of trading venue - Participation in scrip dividend
--ENDS--

This information is provided by RNS
The company news service from the London Stock Exchange
  END
MSCZZLFBDZFEBBL