REG - T42 IOT Tracking Sol - Director Change

t42 IoT Tracking SolutionsAnnouncement

01/12/2021 17:40

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RNS Number : 2872U  T42 IOT Tracking Solutions PLC  01 December 2021

1 December 2021

 

t42 IoT Tracking Solutions PLC

("t42" or the "Company")

 

Director Change

 

 

The Board of t42 announces today that Mr Avi Engel, who has served as a non-
executive director of the Company since 2015, is to leave the Board with
effect from 31 December 2021 to pursue other activities. Mr Engel has been a
valuable member of the Board for several years and we thank him for his
contribution and wish him every success in his future endeavours.

 

Under the terms of his contract, Mr Engel was granted 2,009,302 share options
in return for a reduction in his monthly fees until 31 May 2022. After the
recent share consolidation this amount equated to 251,162 options and with his
departure from the Board, it has been agreed that this amount will reduce on a
pro-rata basis to 209,302 options. These options are due to vest on 31 March
2022 and are exercisable until 31 March 2032.

 

The Company will be seeking to appoint an additional non-executive director to
the Board in due course.

 

 

Contacts:

 

 t42 IoT Tracking Solutions PLC

 Michael Rosenberg, Chairman                                       07785 727595

 Avi Hartmann, CEO                                                 +972 5477 35663

 Allenby Capital Limited (AIM Nominated Adviser and Joint Broker)  020 3328 5656

 Jeremy Porter/Piers Shimwell

 Peterhouse Capital Limited (Joint Broker)                         020 7469 0930

 Lucy Williams/Charles Goodfellow/Eran Zucker

 Yellow Jersey PR (Financial PR)                                   020 3004 9512

 Tom Randell/Henry Wilkinson/Annabelle Wills                       t42@yellowjerseypr.com

 

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