TIDMMWE
RNS Number : 1361U
MTI Wireless Edge Limited
21 November 2023
21 November 2023
MTI Wireless Edge Ltd
("MTI", the "Company" or the "Group")
Share purchase by a substantial shareholder
Transaction in own shares
Total voting rights
MTI Wireless Edge Ltd (AIM: MWE), the technology group focused
on comprehensive communication and radio frequency solutions across
multiple sectors, is pleased to announce the following:
Share purchase by Mokirey Aya Ltd
MTI announces that it was informed on 21 November 2023 that
Mokirey Aya Ltd, a company controlled by members of the Borovitz
family (including Zvi Borovitz, Chairman of the Board of Directors
and Moni Borovitz, Director and Chief Executive Officer of the
Company), has purchased 250,000 ordinary shares of par value 0.01
Israeli Shekels each in the capital of the Company ("Ordinary
Shares") at a price of 31.5p per Ordinary Share, being the
prevailing mid-market share price at the time that the trade was
agreed. These Ordinary Shares were purchased from the Company's
treasury shares, as described below.
Following this share purchase, Mokirey Aya Ltd has an interest
in 26,670,895 Ordinary Shares, equivalent to 30.12% of the voting
rights in the Company (as detailed below). Separately, Zvi Borovitz
and Moni Borovitz are beneficially interested in 1,146,429 and
371,254 Ordinary Shares respectively and these holdings remain
unchanged, representing 1.29% and 0.42% of the voting rights in the
Company (as detailed below) respectively.
Share purchase by Jacques and Rina Beer (the "Beer Family ")
MTI announces that it was informed on 21 November 2023 that the
Beer Family has purchased 100,000 ordinary shares of par value 0.01
Israeli Shekels each in the capital of the Company ("Ordinary
Shares") at a price of 31.5p per Ordinary Share, being the
prevailing mid-market share price at the time that the trade was
agreed. These Ordinary Shares were purchased from the Company's
treasury shares, as described below.
Following this share purchase, the Beer Family has an interest
in 9,197,042 Ordinary Shares, equivalent to 10.39% of the voting
rights in the Company (as detailed below).
Transaction in own shares and total voting rights
MTI further announces that, in accordance with the Company's
Share Repurchase Programme, 350,000 Ordinary Shares were sold by
the Company on 20 November 2023, at a price of 31.5 pence per share
(being the prevailing mid-market share price at the time that the
trade was agreed) from the Company's treasury shares. The funds
raised by the sale of the treasury shares will remain within the
Share Repurchase Programme for future transactions. Following this
sale of treasury shares, the Company holds no Ordinary Shares in
treasury. The total number of Ordinary Shares in issue is
88,538,724 and the total number of voting rights in the Company as
at the date of this announcement is also therefore 88,538,724,
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 as retained in UK law (UK MAR), the schedule appended
further below contains detailed information about the sales of
Ordinary Shares made by Shore Capital Stockbrokers Limited on
behalf of the Company as part of the Share Repurchase
Programme.
The FCA notifications, made in accordance with the requirements
of UK MAR, are appended further below and give further details
regarding the sales of Ordinary Shares by persons closely
associated with PDMRs.
For further information please contact:
MTI Wireless Edge Ltd +972 3 900 8900
Moni Borovitz, CEO http://www.mtiwirelessedge.com
Allenby Capital Limited (Nomad and Joint
Broker) +44 20 3328 5656
Nick Naylor/Alex Brearley/Piers Shimwell
(Corporate Finance)
Guy McDougall/Amrit Nahal (Sales and
Corporate Broking)
Shore Capital (Joint Broker)
Toby Gibbs/ Rachel Goldstein (Corporate
Advisory)
Fiona Conroy (Corporate Broking) +44 20 7408 4090
Novella (Financial PR)
Tim Robertson/Safia Colebrook +44 20 3151 7008
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 recognised 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.
Information about the sales made by Shore Capital Stockbrokers
Limited on behalf of the Company as part of the Share Repurchase
Programme.
Schedule of Sales
Shares sold: MTI Wireless Edge Ltd (ISIN: IL0010958762)
Date of sale: 20 November 2023
Investment firm: Shore Capital Stockbrokers Limited
Aggregate information:
Venue Volume-weighted Aggregated volume
average price,
pence
London Stock Exchange 31.5 p 350,000
Individual transactions:
Number of Ordinary Transaction Time of Trading venue
Shares sold price transaction
(pence per
Ordinary Share)
Outside a trading
250,000 31.5 p 08:23 venue
Outside a trading
100,000 31.5 p 08:23 venue
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 Mokirey Aya Ltd
--------------------- ------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------
a) Position/status Mokirey Aya Ltd is a person closely associated
with MTI Wireless Edge Ltd's Non Executive
Chairman, Zvi Borovitz and MTI Wireless
Edge Ltd's Chief Executive Officer, Moni
Borovitz, both of whom are persons discharging
managerial responsibilities
--------------------- ------------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------- ------------------------------------------------
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 Ordinary Shares of 0.01 Israeli shekels
of the financial each
instrument, Identification code (ISIN) for MTI Wireless
type of instrument Edge Ltd's Ordinary Shares: IL0010958762
Identification
code
--------------------- ------------------------------------------------
b) Nature of Purchase of Ordinary Shares
the transaction
--------------------- ------------------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) 31.5 pence 250,000 Ordinary
per Ordinary Shares
Share
-----------------
--------------------- ------------------------------------------------
d) Aggregated
information
--------------------- ------------------------------------------------
- Aggregated N/A
volume
--------------------- ------------------------------------------------
- Price N/A
--------------------- ------------------------------------------------
e) Date of the 20 November 2023
transaction
--------------------- ------------------------------------------------
f) Place of Outside a trading venue
the transaction
--------------------- ------------------------------------------------
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END
MSCBBBLTMTMTMPJ
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November 21, 2023 04:09 ET (09:09 GMT)
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