Telit Communications PLC Response to press coverage (1277D)

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.

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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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January 29, 2018 02:00 ET (07:00 GMT)

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