REG - MTI Wireless Edge - Transaction in own shares

MTI Wireless EdgeAnnouncement

10/03/2022 07:00

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RNS Number : 2718E  MTI Wireless Edge Limited  10 March 2022

10 March 2022
MTI Wireless Edge Ltd
("MTI" or the "Company")
Transaction in own shares

 

In accordance with the Company's Share Repurchase Programme, MTI Wireless Edge
Ltd. (AIM: MWE), the technology group focused on comprehensive communication
and radio frequency solutions across multiple sectors, announces that 50,000
ordinary shares of par value 0.01 Israeli Shekels each in the capital of the
Company ("Ordinary Shares") were sold by the Company on 9 March 2022, at a
price of 57 p per share from the Company's treasury shares. The sale was
following interest from an institutional investor and the funds raised by the
sale of these treasury shares will remain within the Share Repurchase
Programme for future transactions.

 

Following this transaction, the Company does not hold any Ordinary Shares in
treasury. The total number of Ordinary Shares in issue is 88,538,724 and the
total number of voting rights in the Company as at the date of this
announcement is therefore 88,538,724, 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.

 

In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 as it
applies in the UK (the Market Abuse Regulation), the schedule below contains
detailed information about the sales made on the Company's behalf by Thomas
Grant & Company Ltd who are acting as agents.

 

Schedule of Sales

 Shares sold:      MTI Wireless Edge Ltd (ISIN: IL0010958762)
 Date of sale:     9 March 2022
 Investment firm:  Thomas Grant & Company Ltd

Aggregate information:

 Venue                  Volume-weighted        Aggregated volume

average price, pence
 London Stock Exchange  57 p                   50,000

 

Individual transaction:

 Number of Ordinary Shares sold  Transaction price            Time of transaction  Trading venue

(pence per Ordinary Share)
 50,000                          57 p                         12:44                London Stock Exchange

 

 

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)

 Amrit Nahal/David Johnson (Sales and Corporate Broking)

 Shore Capital (Joint Broker)                                   +44 20 7408 4090

 Toby Gibbs/John More/James O'Neill (Corporate Advisory)

 Fiona Conroy (Corporate Broking)

 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 174 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 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 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.

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