Transaction in own shares

RNS Number : 9162E

MTI Wireless Edge Limited

04 March 2020

 

4 March 2020     

MTI Wireless Edge Ltd

("MTI" or the "Company")

Transaction in own shares

In accordance with the Company's Share Repurchase Programme announced on 24 January 2019, 24 July 2019 and 23 January 2020, MTI Wireless Edge Ltd. (AIM: MWE), the technology group focused on comprehensive communication and radio frequency solutions across multiple sectors, announces that 370,000 ordinary shares of par value 0.01 Israeli Shekels each in the capital of the Company ("Ordinary Shares") were sold by the Company to existing institutional investors on 3 March 2020, at a price of 34.5 p per share from the Company's treasury shares. The funds raised by the sale of these treasury shares will remain within the Share Repurchase Programme for future transactions.

Following this transaction, the Company does not hold any Ordinary Shares in treasury. The total number of Ordinary Shares in issue is 87,888,724 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.

In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation), the schedule below contains detailed information about the sales made on the Company's behalf by Peterhouse Capital Limited who are acting as agents. 

Schedule of Sales

Shares sold:	MTI Wireless Edge Ltd (ISIN: IL0010958762)
Date of sale:	3 March 2020
Investment firm:	Peterhouse Capital Limited

Aggregate information:

Venue	Volume-weighted average price, pence	Aggregated volume
London Stock Exchange	34.5 p	370,000

Individual transaction:

Number of Ordinary Shares sold	Transaction price (pence per Ordinary Share)	Time of transaction	Trading venue
370,000	34.5 p	15:39	London Stock Exchange

 

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 Capital Limited (Joint Broker)                                                                [phone]

Lucy Williams

Eran Zucker

Novella (Financial PR)                           [phone]

Tim Robertson

Fergus Young

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 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.

 

END

 

 

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