Telit Communications PLC Response to press coverage (1277D)
January 29 2018 - 2:00AM
UK Regulatory
TIDMTCM
RNS Number : 1277D
Telit Communications PLC
29 January 2018
Telit Communications PLC
Response to press coverage
London, 29 January 2018 - Telit Communications PLC ("Telit",
"the Group", AIM: TCM), a global enabler of the Internet of Things
(IoT), notes press speculation regarding the sale of its automotive
division. As stated on 16 October 2017, Telit has appointed
Rothschild to assist in exploring the future of this division.
Telit has received interest from numerous parties and a range of
proposals have been received, which are subject to due diligence.
There can be no certainty at this stage that the division will be
sold nor as to the terms of a potential sale.
Further to previous announcements, the Board is not considering
the sale of other Telit activities or divisions, all of which
remain central to the Group's end-to-end IoT solutions
strategy.
Enquiries:
Telit Communications PLC Tel: +44 203
Yosi Fait, Chief Executive Officer 289 3831
Yariv Dafna, Finance Director
Tel: +44 20
finnCap (Nomad and joint broker) 7220 0500
Henrik Persson/Giles Rolls (corporate
finance)
Tim Redfern/Richard Chambers (corporate
broking)
Berenberg (Joint Broker) Tel: +44 20
Chris Bowman/Mark Whitmore/Ben 3465 2722
Wright
Rothschild Tel: +44 20
Vikas Sehgal/Doron Gurevitz 7280 5000
Instinctif Partners Tel: +44 20
7457 2077
Adrian Duffield/Chantal Woolcock
About Telit
Telit (AIM: TCM), is a global leader in Internet of Things (IoT)
enablement. The company offers the industry's broadest portfolio of
integrated products and services for end-to-end IoT deployments -
including cellular communication modules in all technologies, GNSS,
Wi-Fi, short-to-long range wireless modules, IoT connectivity plans
and IoT platform services. Through the IoT Portal, Telit makes IoT
onboarding easy, reduces risk, time to market, complexity and costs
for asset tracking, remote monitoring and control, telematics,
industrial automation and others, across many industries and
vertical markets worldwide.
# # #
Copyright (c) 2018 Telit Communications PLC. All rights
reserved. Telit and all associated logos are trademarks of Telit
Communications PLC in the United States and other countries. Other
names used herein may be trademarks of their respective owners.
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014.
Notice related to financial adviser
N M Rothschild & Sons Limited ("Rothschild"), which is
authorised and regulated by the Financial Conduct Authority in the
United Kingdom, is acting exclusively for Telit and for no one else
in connection with the subject matter of this announcement and will
not be responsible to anyone other than Telit for providing the
protections afforded to its clients or for providing advice in
connection with the subject matter of this announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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