Scrip dividend reference price

RNS Number : 1235H

MTI Wireless Edge Limited

08 March 2018

 

8 March 2018

MTI Wireless Edge Ltd

("MTI" or the "Company")

Scrip dividend reference price

MTI Wireless Edge Ltd. (MWE), a market leader in the manufacture of flat panel antennas for fixed wireless broadband and a wireless irrigation solution provider, announces that the reference price of a Scrip Dividend Shares under the Company's Scrip Dividend Alternative to the 2017 Dividend has been set at 27 pence (the "Scrip reference Price"). The Scrip reference Price represents the average closing mid-market price of an Ordinary Share on AIM between 1 March 2018 and 7 March 2018. 

The final time and date for the receipt of elections to participate in the Scrip Dividend Alternative is 5.00 p.m. on 22 March 2018. The exact number of Scrip Dividend Shares required to be issued under the Scrip Dividend Alternative will be established after 22 March 2018 and a further announcement will be made as appropriate. Further information is available on the Company's website in the Circular published on 16 February 2018 and words and expressions defined in the Circular bear the same meanings in this announcement.

For further information please contact:

MTI Wireless Edge Dov Feiner, CEO Moni Borovitz, Financial Director	http://www.mtiwe.com/ [phone]
Allenby Capital Limited (Nomad and Joint Broker) Nick Naylor Alex Brearley	[phone]
Peterhouse Corporate Finance Limited (Joint Broker) Lucy Williams Eran Zucker	[phone]

About MTI Wireless Edge

MTI is engaged in the development, production and marketing of high quality, low cost, flat panel antennas for commercial and for military applications. Commercial applications include: WiMAX; wireless networking; RFID readers; and broadband wireless access. With over 40 years' experience  MTI supplies 100KHz to 90GHz antennas (including directional antennas and omni directional) for outdoor and indoor deployments, including smart antennas for WiMAX, Wi-Fi, public safety, RFID and  base stations and terminals for the utility market. Military applications includes a wide range of broadband, tactical and specialized communications antennas, antenna systems and DF arrays installed on numerous airborne, ground and naval, including submarine, platforms worldwide.

Via its subsidiary, Mottech Water Solutions Ltd ("Mottech"), MTI is also a leading provider of remote control solutions for water and irrigation applications based on Motorola IRRInet state of the art control, monitoring and communication technologies. Mottech, headquartered in Israel, is the global prime distributor of Motorola for the IRRInet remote control solutions serving its customers worldwide through its subsidiaries and a global network of local distributers and representatives. It utilizes over 25 years of experience in providing its customers with remote control and management systems which ensure constant, reliable and accurate water usage, while reducing operational costs and maintenance costly expenses. Mottech activities are focused in the market segments of agriculture, water distribution, municipal and commercial landscape and wastewater and storm water reuse.

 

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