TIDMMWE
RNS Number : 9229J
MTI Wireless Edge Limited
05 April 2018
5 April 2018
MTI Wireless Edge Ltd
("MTI" or the "Company")
Completion of scrip dividend
Notification of Major Interest in Shares
Further to the announcement made by the Company on 26 March
2018, MTI Wireless Edge Ltd. (MWE), announces that pursuant to the
Company's scrip dividend alternative, 1,813,970 new ordinary shares
in the capital of the Company ("Ordinary Shares") have today been
issued and the admission of these shares to trading on AIM
("Admission") became effective at 8.00 a.m. this morning.
MTI Computers & Software Services (1982) Ltd ("MTIC") has
elected to receive 1,501,282 Ordinary Shares through its
participation in the scrip dividend alternative. MTIC now holds a
total of 29,510,716 Ordinary Shares, which represents 53.2% of the
voting rights in the enlarged issued ordinary share capital of the
Company. MTIC is controlled by Mokirey Aya Ltd., a company
controlled by the Borovitz family.
Additionally, four persons discharging managerial
responsibilities ("PDMRs"), elected to participate in the scrip
dividend alternative in respect of their direct holdings in the
Company.
Following Admission, the Company now has 55,438,288 Ordinary
Shares in issue and admitted to trading on AIM. This figure,
55,438,288 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.
The FCA notifications, made in accordance with the requirements
of the EU Market Abuse Regulation, are appended further below and
give further details on the participation in the scrip dividend
alternative for directors and PDMRs and persons closely associated
with them.
For further information please contact:
MTI Wireless Edge 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 &
for Military applications. Commercial applications such as: WiMAX,
Wireless Networking, RFID readers &, Broadband Wireless Access.
With over 40 years' experience, supplying antennas 100KHz to 90GHz
including directional antennas and Omni directional for outdoor and
indoor deployments including Smart Antennas for WiMAX, Wi-Fi,
Public Safety, RFID and for Base Stations and Terminals - 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's 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's activities are focused in the market
segments of agriculture, water distribution, Municipal and
Commercial Landscape and Wastewater and Storm water Reuse.
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 Zvi Borovitz
-------------------------- --------------------------------
2 Reason for the notification
------------------------------------------------------------
a) Position/status Director - Non Executive
Chairman of MTI Wireless
Edge Ltd
-------------------------- --------------------------------
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 the Ordinary shares of 0.01
financial instrument, Israeli shekels each
type of instrument Identification code (ISIN)
Identification code for MTI Wireless Edge Ltd's
ordinary shares: IL0010958762
-------------------------- --------------------------------
b) Nature of the transaction Participation in scrip dividend
-------------------------- --------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Scrip 38,913
reference ordinary
price shares
of 27 were acquired
pence through
per share participation
in a scrip
dividend
---------------
-------------------------- --------------------------------
d) Aggregated information Single transaction as in
- Aggregated volume 4 c) above
38,913 ordinary shares were
- Price acquired through participation
in a scrip dividend
Scrip reference price of
27 pence per share
-------------------------- --------------------------------
e) Date of the transaction 5 April 2018
-------------------------- --------------------------------
f) Place of the transaction Outside of trading venue
- Participation in scrip
dividend
-------------------------- --------------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
a) Name Moni Borovitz
-------------------------- --------------------------------
2 Reason for the notification
------------------------------------------------------------
a) Position/status Director - Financial Director
of MTI Wireless Edge Ltd
-------------------------- --------------------------------
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 the Ordinary shares of 0.01
financial instrument, Israeli shekels each
type of instrument Identification code (ISIN)
Identification code for MTI Wireless Edge Ltd's
ordinary shares: IL0010958762
-------------------------- --------------------------------
b) Nature of the transaction Participation in scrip dividend
-------------------------- --------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Scrip 4,985
reference ordinary
price shares
of 27 were acquired
pence through
per share participation
in a scrip
dividend
---------------
-------------------------- --------------------------------
d) Aggregated information Single transaction as in
- Aggregated volume 4 c) above
4,985 ordinary shares were
- Price acquired through participation
in a scrip dividend
Scrip reference price of
27 pence per share
-------------------------- --------------------------------
e) Date of the transaction 5 April 2018
-------------------------- --------------------------------
f) Place of the transaction Outside of trading venue
- Participation in scrip
dividend
-------------------------- --------------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
a) Name MTI Computers & Software
Services (1982) Ltd
-------------------------- --------------------------------
2 Reason for the notification
------------------------------------------------------------
a) Position/status MTI Computers & Software
Services (1982) Ltd is a
person closely associated
with MTI Wireless Edge Ltd's
Non Executive Chairman,
Zvi Borovitz and MTI Wireless
Edge Ltd's Financial Director,
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 of the Ordinary shares of 0.01
financial instrument, Israeli shekels each
type of instrument Identification code (ISIN)
Identification code for MTI Wireless Edge Ltd's
ordinary shares: IL0010958762
-------------------------- --------------------------------
b) Nature of the transaction Participation in scrip dividend
-------------------------- --------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Scrip 1,501,282
reference ordinary
price shares
of 27 were acquired
pence through
per share participation
in a scrip
dividend
---------------
-------------------------- --------------------------------
d) Aggregated information Single transaction as in
- Aggregated volume 4 c) above
MTI Computers & Software
- Price Services (1982) Ltd acquired
1,501,282 ordinary shares
through participation in
a scrip dividend
Scrip reference price of
27 pence per share
-------------------------- --------------------------------
e) Date of the transaction 5 April 2018
-------------------------- --------------------------------
f) Place of the transaction Outside of trading venue
- Participation in scrip
dividend
-------------------------- --------------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
a) Name Menashe Mani
-------------------------- --------------------------------
2 Reason for the notification
------------------------------------------------------------
a) Position/status Chief Executive Officer
of MTI Computers & Software
Services (1982) Ltd
-------------------------- --------------------------------
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 the Ordinary shares of 0.01
financial instrument, Israeli shekels each
type of instrument Identification code (ISIN)
Identification code for MTI Wireless Edge Ltd's
ordinary shares: IL0010958762
-------------------------- --------------------------------
b) Nature of the transaction Participation in scrip dividend
-------------------------- --------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Scrip 4,632
reference ordinary
price shares
of 27 were acquired
pence through
per share participation
in a scrip
dividend
---------------
-------------------------- --------------------------------
d) Aggregated information Single transaction as in
- Aggregated volume 4 c) above
4,632 ordinary shares were
- Price acquired through participation
in a scrip dividend
Scrip reference price of
27 pence per share
-------------------------- --------------------------------
e) Date of the transaction 5 April 2018
-------------------------- --------------------------------
f) Place of the transaction Outside of trading venue
- Participation in scrip
dividend
-------------------------- --------------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
a) Name Dov Feiner
-------------------------- --------------------------------
2 Reason for the notification
------------------------------------------------------------
a) Position/status Chief Executive Officer
of MTI Wireless Edge Ltd
-------------------------- --------------------------------
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 the Ordinary shares of 0.01
financial instrument, Israeli shekels each
type of instrument Identification code (ISIN)
Identification code for MTI Wireless Edge Ltd's
ordinary shares: IL0010958762
-------------------------- --------------------------------
b) Nature of the transaction Participation in scrip dividend
-------------------------- --------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Scrip 85,286
reference ordinary
price shares
of 27 were acquired
pence through
per share participation
in a scrip
dividend
---------------
-------------------------- --------------------------------
d) Aggregated information Single transaction as in
- Aggregated volume 4 c) above
85,286 ordinary shares were
- Price acquired through participation
in a scrip dividend
Scrip reference price of
27 pence per share
-------------------------- --------------------------------
e) Date of the transaction 5 April 2018
-------------------------- --------------------------------
f) Place of the transaction Outside of trading venue
- Participation in scrip
dividend
-------------------------- --------------------------------
--ENDS--
This information is provided by RNS
The company news service from the London Stock Exchange
END
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