REG - MTI Wireless Edge - Transaction in own Shares

MTI Wireless EdgeAnnouncement

12/09/2022 09:15

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RNS Number : 0879Z  MTI Wireless Edge Limited  12 September 2022

12 September 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 purchased by the Company on 9 September 2022,
at a price of 54 pence per share. These shares will be held as treasury
shares.

Following this transaction, the Company holds 50,000 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 88,488,724, 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.

 

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)

David Johnson (Sales and Corporate Broking)

Shore Capital (Joint Broker)
 
                             +44 20 7408 4090

Toby Gibbs/John More

Novella (Financial PR)      +44 20 3151 7008

Tim Robertson/Fergus Young

 

In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market
Abuse Regulation), the schedule below contains detailed information about the
purchases made by Shore Capital Stockbrokers Limited on behalf of the Company
as part of the Share Repurchase Programme.

Schedule of Purchases

 Shares purchased:   MTI Wireless Edge Ltd (ISIN: IL0010958762)
 Date of purchases:  9 September 2022
 Investment firm:    Shore Capital Stockbrokers Limited

Aggregate information:

 Venue                  Volume-weighted        Aggregated volume

average price, pence
 London Stock Exchange  54p                    50,000

Individual transaction:

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

(pence per Ordinary Share)
 50,000                               54p                          16:38                London Stock Exchange

 

 

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 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.

 

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