Exercise of options

RNS Number : 1236F

MTI Wireless Edge Limited

10 July 2019

 

10 July 2019

MTI Wireless Edge Ltd

("MTI" or the "Company")

Exercise of options

MTI Wireless Edge Ltd. (AIM: MWE), the technology group focused on comprehensive communication and radio frequency solutions across multiple sectors, announces the exercise of a total of 40,000 share options by an employee of the Company on 10 July 2018. These options had an exercise price of 9.5 pence per new ordinary share of NIS 0.01 nominal value ("Ordinary Shares"). The Company will shortly be making an application for 40,000 new Ordinary Shares in the capital of the Company (the "New Shares") to be admitted to trading on AIM. Trading in the New Shares is expected be become effective on or around 16 July 2019. The employee concerned intends to retain the New Shares for the time being in a personal account.

The total number of Ordinary Shares in issue is now 87,738,724 (including shares held as treasury shares). The Company currently holds 241,500 Ordinary Shares in treasury. Therefore, the total number of voting rights in the Company is 87,497,224, 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                                                                  [phone]

Moni Borovitz, CEO                                                                        http://www.mtiwirelessedge.com

Allenby Capital Limited (Nomad and Joint Broker)                 [phone]

Nick Naylor

Alex Brearley

Peterhouse Corporate Finance Limited (Joint Broker)           [phone]

Lucy Williams

Eran Zucker

About MTI Wireless Edge Ltd

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 90 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 WiMAX, Broadband access, public safety, RFID, base stations 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, while reducing operational and maintenance costs. 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.

 

 

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