REG - MTI Wireless Edge - Result of EGM and Grant of Share Options

MTI Wireless EdgeAnnouncement

05/01/2024 11:00

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RNS Number : 8102Y  MTI Wireless Edge Limited  05 January 2024

5 January 2024

MTI Wireless Edge Ltd

("MTI" or the "Company")

Result of EGM

Grant of share options

 

 

Result of EGM

MTI Wireless Edge Ltd. (AIM: MWE), the technology group focused on
comprehensive communication and radio frequency solutions across multiple
sectors, announces that both resolutions put to shareholders at the Company's
Extraordinary General Meeting held earlier today have been passed.

 

The proxy votes received from shareholders on each resolution are set out
below.

 Resolutions   Votes for   %       Votes against  %      Votes total  Votes withheld

 Resolution 1  31,580,561  98.31%  542,408        1.69%  32,122,969   59,728
 Resolution 2  31,580,561  98.31%  542,408        1.69%  32,122,969   59,728

 

Votes "For" include votes giving the Chairman discretion.

A vote "withheld" is not counted towards the votes cast "for" or "against" a
resolution or the associated percentage calculations.

 

The 31,580,561 votes for the resolutions include 24,666,862 votes cast by
Mokirey Aya Ltd. Mokirey Aya Ltd is a company controlled by members of the
Borovitz family (including Zvi Borovitz, Chairman and Moni Borovitz, director
and Chief Executive Officer of the Company). Both resolutions were passed
pursuant to the voting requirements under Israeli Companies Law 1999, as set
out in the Company's announcement on 20 November 2023.

 

Grant of share options

Further to the Company's announcement of 20 November 2023, following the
passing of the resolutions, 600,000 share options have been granted to Mr.
Moshe (Moni) Borovitz, the Company's Chief Executive Officer and 100,000 share
options have been granted to Mr. Dov Feiner, the General Manager of the
Company's Antenna division.

These grants of share options were made under the option plan for the
Company's employees (the "Option Plan"), with the following terms:

1.    each option can be exercised into one ordinary share of the Company
at a price of 40 pence; and

 

2.    the vesting of the options will be: 50% after two years; 25% after
three years; and 25% after four years, with expiration of the options being
six years after issue.

The FCA notifications, made in accordance with the requirements of the UK
Market Abuse Regulation are appended below.

 

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/Piers Shimwell (Corporate Finance)

 Guy McDougall/Amrit Nahal (Sales and Corporate Broking)

 Shore Capital (Joint Broker)                                   +44 20 7408 4090

 Toby Gibbs/Rachel Goldstein (Corporate Advisory)

 Novella (Financial PR)                                         +44 20 3151 7008

 Tim Robertson/Safia Colebrook

 

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 internationally recognized as a producer of commercial off-the-Shelf
and custom-developed antenna solutions in a broad frequency range of HF to 170
GHz for commercial, RFID and military applications. MTI continuously invests
in ground breaking technologies, explores new frequencies, and devises
innovative solutions which empower our wireless communication customers with
cutting-edge off-the-shelf and custom-made antennas.

We are at the forefront of technology and innovation, being the first to
introduce Dual Band parabolic antennas, E Band Automatic Beam Steering
antennas, E Band FCC compliant flat antennas, and more.

MTI supplies directional and omnidirectional antennas for outdoor and indoor
deployments, including smart antennas for 5G backhaul, Broadband access,
public safety, RFID, base station 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 and monitoring 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, increase crops
quality and yield while reducing operational and maintenance costs providing
fast ROI while helping sustain the environment. 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. It also specializes in
the development, manufacture and integration of communication systems and
advanced monitoring and control systems for the Government and defence
industry market.

 

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                                                         Moshe (Moni) Borovitz
 2    Reason for the notification
 a)   Position/status                                              Chief Executive Officer
 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  Grant of options over 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                                    Grant of Share Options
 c)   Price(s) and volume(s)                                       Price(s)                              Volume(s)
                                                                   Exercise price of 40 pence per share  600,000
 d)   Aggregated information                                       N/A

      - Aggregated volume

      - Price
 e)   Date of the transaction                                      5 January 2024
 f)   Place of the transaction                                     Outside a Trading Venue

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

5 January 2024

f)

Place of the transaction

Outside a Trading Venue

 

 

 1    Details of the person discharging managerial responsibilities / person closely
      associated
 a)   Name                                                         Dov Feiner
 2    Reason for the notification
 a)   Position/status                                              General Manager of the Company's Antenna division
 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  Grant of options over 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                                    Grant of Share Options
 c)   Price(s) and volume(s)                                       Price(s)                              Volume(s)
                                                                   Exercise price of 40 pence per share  100,000
 d)   Aggregated information                                       N/A

      - Aggregated volume

      - Price
 e)   Date of the transaction                                      5 January 2024
 f)   Place of the transaction                                     Outside a Trading Venue

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

5 January 2024

f)

Place of the transaction

Outside a Trading Venue

 

 

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