Result of EGM and Grant of Share Options

MTI Wireless Edge Limited

05 January 2024

 

5 January 2024

MTI Wireless Edge Ltd

("MTI" or the "Company")

Result of EGM

Grant of share options

Result of EGM

MTI Wireless Edge Ltd. (AIM: MWE), the technology group focused on comprehensive communication and radio frequency solutions across multiple sectors, announces that both resolutions put to shareholders at the Company's Extraordinary General Meeting held earlier today have been passed.

The proxy votes received from shareholders on each resolution are set out below.

Resolutions	Votes for	%	Votes against	%	Votes total	Votes withheld
Resolution 1	31,580,561	98.31%	542,408	1.69%	32,122,969	59,728
Resolution 2	31,580,561	98.31%	542,408	1.69%	32,122,969	59,728

Votes "For" include votes giving the Chairman discretion.

A vote "withheld" is not counted towards the votes cast "for" or "against" a resolution or the associated percentage calculations.

The 31,580,561 votes for the resolutions include 24,666,862 votes cast by Mokirey Aya Ltd. Mokirey Aya Ltd is a company controlled by members of the Borovitz family (including Zvi Borovitz, Chairman and Moni Borovitz, director and Chief Executive Officer of the Company). Both resolutions were passed pursuant to the voting requirements under Israeli Companies Law 1999, as set out in the Company's announcement on 20 November 2023.

Grant of share options

Further to the Company's announcement of 20 November 2023, following the passing of the resolutions, 600,000 share options have been granted to Mr. Moshe (Moni) Borovitz, the Company's Chief Executive Officer and 100,000 share options have been granted to Mr. Dov Feiner, the General Manager of the Company's Antenna division.

These grants of share options were made under the option plan for the Company's employees (the "Option Plan"), with the following terms:

1.    each option can be exercised into one ordinary share of the Company at a price of 40 pence; and

2.    the vesting of the options will be: 50% after two years; 25% after three years; and 25% after four years, with expiration of the options being six years after issue.

The FCA notifications, made in accordance with the requirements of the UK Market Abuse Regulation are appended below.

For further information please contact:

MTI Wireless Edge Ltd Moni Borovitz, CEO	[phone] http://www.mtiwirelessedge.com
Allenby Capital Limited (Nomad and Joint Broker) Nick Naylor/Alex Brearley/Piers Shimwell (Corporate Finance) Guy McDougall/Amrit Nahal (Sales and Corporate Broking)	[phone]
Shore Capital (Joint Broker) Toby Gibbs/Rachel Goldstein (Corporate Advisory)	[phone]
Novella (Financial PR) Tim Robertson/Safia Colebrook	[phone]

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 internationally recognized as a producer of commercial off-the-Shelf and custom-developed antenna solutions in a broad frequency range of HF to 170 GHz for commercial, RFID and military applications. MTI continuously invests in ground breaking technologies, explores new frequencies, and devises innovative solutions which empower our wireless communication customers with cutting-edge off-the-shelf and custom-made antennas.

We are at the forefront of technology and innovation, being the first to introduce Dual Band parabolic antennas, E Band Automatic Beam Steering antennas, E Band FCC compliant flat antennas, and more.

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.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Moshe (Moni) Borovitz
2	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	MTI Wireless Edge Ltd
b)	LEI	2138003Y3AHVBB1QCY91
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Grant of options over ordinary shares of 0.01 Israeli shekels each Identification code (ISIN) for MTI Wireless Edge Ltd's ordinary shares: IL0010958762
b)	Nature of the transaction	Grant of Share Options
c)	Price(s) and volume(s)	Price(s) Volume(s) Exercise price of 40 pence per share 600,000
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	5 January 2024
f)	Place of the transaction	Outside a Trading Venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Dov Feiner
2	Reason for the notification
a)	Position/status	General Manager of the Company's Antenna division
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	MTI Wireless Edge Ltd
b)	LEI	2138003Y3AHVBB1QCY91
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Grant of options over ordinary shares of 0.01 Israeli shekels each Identification code (ISIN) for MTI Wireless Edge Ltd's ordinary shares: IL0010958762
b)	Nature of the transaction	Grant of Share Options
c)	Price(s) and volume(s)	Price(s) Volume(s) Exercise price of 40 pence per share 100,000
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	5 January 2024
f)	Place of the transaction	Outside a Trading Venue

 

END