MTI Wireless Edge Limited
03 September 2007
3 September 2007
MTI Wireless Edge Limited (the 'Company')
Holding in Parent Company
The Company hereby announces that it has been informed by MTI Computers and
Software Services (1982) Ltd. ('MTI Computers'), the principal shareholder of
the Company, that Mokirei Aya Ltd., the controlling shareholder of MTI
Computers, has signed a share purchase agreement to sell all of its holdings in
MTI Computers, constituting approximately 38.87% of the currently outstanding
shares of MTI Computers, to Inspire Investment Ltd. ('Inspire'), an Israeli
public company, traded on the Tel Aviv Stock Exchange, in consideration for
US$16,326,547.
The transaction is subject, inter alia, to the approval of the Israeli Anti-
trust authorities and the completion of a due diligence examination to Inspire's
satisfaction.
Mr. Avi Wertheim (Inspire's CEO, and its controlling share holder) commented:
'We are delighted to have agreed this strategic investment in MTI Computers.
MTI Wireless Edge is a major player in Fixed Broadband Wireless Antennas with a
strong management and a proven technology, and Wireless is the future. We
believe that the Company has yet to show its full potential, and has the scope
to further develop, both through its existing line of products and by expanding
upon them.
These developments, we believe, could be achieved partly by internal activities
and partly by using its financial strength to seek opportunities to strengthen,
even further, its position in the market.'
Following completion of the transaction, Mr. Moshe Borovitz will continue to act
as finance director of the Company and the co-CEO of MTI Computers.
About Inspire
Inspire Investments Ltd. is a publicly traded holding company (traded on the
Tel- Aviv Stock Exchange). Inspire's holdings include mostly industrial
companies with worldwide markets and proven track record. Inspire's holdings
include subsidiaries (manufacturing and marketing) in various geographies
including the US, China, and Israel. Inspire's philosophy includes acquiring
companies which it believes it could further expand and develop either through
internal growth or acquisitions.
For further information contact:
MTI Wireless Edge +972 3 900 8900
Dov Feiner, CEO
Moni Borovitz, Finance Director
Blue Oar Securities Plc +44 20 7448 4400
David Seal
Luke Ahern
Threadneedle Communications +44 207 936 9605
Graham Herring
Josh Royston
This information is provided by RNS
The company news service from the London Stock Exchange
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