MTI Wireless Edge Limited PDMR Shareholding and Exercise of Options (8075O)
23 August 2017 - 11:04PM
UK Regulatory
TIDMMWE
RNS Number : 8075O
MTI Wireless Edge Limited
23 August 2017
23 August 2017
MTI Wireless Edge Ltd
("MTI" or the "Company")
PDMR Shareholding and Exercise of Options
MTI Wireless Edge Ltd (AIM: MWE), a market leader in the
manufacture of flat panel antennas for fixed wireless broadband and
a wireless irrigation solutions provider, announces an exercise of
options and a sale of ordinary shares by the Company's Vice
President of Research & Development, Daniel Zerach. Mr. Zerach
has today sold 90,000 ordinary shares in the Company at a price of
34.5 pence per ordinary share and has also today exercised 90,000
options to subscribe for new ordinary shares in the Company. The
aforementioned options had an exercise price of 9.5 pence per
ordinary share. The notification below, made in accordance with the
requirements of the EU Market Abuse Regulation, provides further
detail.
Following the above actions, Mr Zerach does not have a
beneficial interest in the Company's ordinary shares. Mr. Zerach
remains interested in options to subscribe for a further 30,000 new
ordinary shares in the Company, of which none have vested, but will
be vested on August 30, 2017.
Following the above exercise of options, MTI will make an
application for 90,000 new ordinary shares in the Company (the "New
Shares") to be admitted to trading on AIM. Trading in the New
Shares is expected be become effective on 30 August 2017.
Following the issue of the New Shares, the Company will have a
total of 53,011,818 ordinary shares in issue. Therefore the total
number of ordinary shares with voting rights will be 53,011,818,
which may be used by shareholders in the Company as the denominator
for calculations by which they will determine if they are required
to notify their interest in, or a change in their interest in, the
share capital of the Company.
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 Daniel Zerach
--- ------------------------ -------------------------------
2 Reason for the notification
--- ---------------------------------------------------------
a) Position/status Vice President of Research
& Development
--- ------------------------ -------------------------------
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 of Ordinary shares of 0.01
the financial Israeli shekels each
instrument, type
of instrument
Identification Identification code (ISIN)
code for MTI Wireless Edge Ltd's
ordinary shares: IL0010958762
--- ------------------------ -------------------------------
b) Nature of the Exercise of options and
transaction disposal of ordinary shares
--- ------------------------ -------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) ------------- -------------
Exercise Exercise
of options: of options:
GBP0.095 90,000
Disposal Disposal
of ordinary of ordinary
shares: shares:
GBP0.345 90,000
------------- -------------
--- ------------------------ -------------------------------
d) Aggregated information
--- ------------------------ -------------------------------
- Aggregated Exercise of options: 90,000
volume Disposal of ordinary shares:
90,000
--- ------------------------ -------------------------------
- Price Exercise of options: GBP8,550
Disposal of ordinary shares:
GBP31,050
--- ------------------------ -------------------------------
e) Date of the transaction Exercise of options: 23
August 2017
Disposal of ordinary shares:
23 August 2017
--- ------------------------ -------------------------------
f) Place of the Exercise of options: Outside
transaction a Trading Venue
Disposal of ordinary shares:
London Stock Exchange (XLON),
AIM market
--- ------------------------ -------------------------------
For further information please contact:
MTI Wireless Edge Ltd http://www.mtiwe.com/
Dov Feiner, CEO +972 3 900 8900
Moni Borovitz, Financial Director
Nomad and Joint Broker
Allenby Capital Limited
Nick Naylor
Alex Brearley +44 20 3328 5656
Joint Broker
Peterhouse Corporate Finance
Limited
Lucy Williams
Eran Zucker +44 20 7469 0930
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 include 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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