REG - MTI Wireless Edge - Results for the six months ended 30 June 2017 <Origin Href="QuoteRef">MWEE.L</Origin> - Part 2

MTI Wireless EdgeAnnouncement

08/08/2017 07:06

- Part 2: For the preceding part double click  ID:nRSH3294Na 

2016                       2016  
                    U.S. $ in thousands                    
                    Unaudited                                                         
 Purchased Goods    103                                      105                        369   
 Management Fee     221                                      185                        428   
 Services Fee       130                                      124                        249   
 Leaseincome        (36)                                     (36)                       (72)  
                                                                                                  
 
 
Compensation of key management personnel of the Group: 
 
                                    Six months periodended       June 30,    Year ended December 31,    
                                    2017                                     2016                       2016  
                                    U.S. $ in thousands                    
                                    Unaudited                                                         
 Short-term employee benefits *)    417                                      353                        810   
                                                                                                              
                                                                                                                  
 
 
*) Including Management fees for the CEO, Directors, Executive Management and
other related parties. 
 
All Transactions were made at market value. 
 
Note 4 - TRANSACTIONS AND BALANCES WITH RELATED PARTIES (CONT.): 
 
Balances with related parties: 
 
                          As at                
                          30.06.2017             30.06.2016    31.12.2016  
                          U.S. $ in thousands  
                          Unaudited                          
 Other accounts payables  293                    90            207         
                                                                           
 
 
207 
 
Note 5 - SIGNIFICANT EVENTS: 
 
A.  During January and June 2017, employees exercised options over 120,000
shares in exchange for a total consideration of approximately $14,000. 
 
B.   On April 4, 2017, the Company paid a dividend of 1 US cent per share
totaling approximately $235,000 and in addition, 1,022,328 new ordinary shares
were issued to qualifying shareholders that chose the scrip dividend
alternative. 
 
C.   During June 2017 Mottech agreed to establish a joint venture company in
China ("Mottech China") with Omega Technologies LTD ("OTL"), which is an
existing third-party sales representative for Mottech's water irrigation
solutions in China. Mottech China will be 60% owned by Mottech. In addition to
supporting Mottech's activities, it is intended that Mottech China will also
sell additional third party products that are complementary to Mottech's
equipment which are currently being sold by OTL in China. 
 
This information is provided by RNS
The company news service from the London Stock Exchange