MTI Wireless Edge Limited PDMR Shareholding and Exercise of Options (9288L)
October 06 2016 - 10:11AM
UK Regulatory
TIDMMWE
RNS Number : 9288L
MTI Wireless Edge Limited
06 October 2016
6 October 2016
MTI Wireless Edge Ltd
("MTI" or the "Company")
PDMR Shareholding and Exercise of Options
MTI announces an exercise of options and a sale of ordinary
shares by the Company's Chief Operating Officer, Shlomo Ben Naim.
Mr Ben Naim has sold 40,000 ordinary shares in the Company at a
price of 20.60 pence per ordinary share and has also exercised
40,000 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 Ben Naim does not have a
beneficial interest in the Company's ordinary shares. Mr Ben Naim
remains interested in options to subscribe for a further 40,000 new
ordinary shares in the Company, of which 20,000 have vested.
Following the above exercise of options, MTI will make an
application for 40,000 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 12 October 2016.
Following the issue of the New Shares, the Company will have a
total of 51,779,490 ordinary shares in issue. Therefore the total
number of ordinary shares with voting rights will be 51,779,490,
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 Shlomo Ben Naim
--- ------------------------ -------------------------------
2 Reason for the notification
--- ---------------------------------------------------------
a) Position/status Chief Operating Officer
--- ------------------------ -------------------------------
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 Not available
--- ------------------------ -------------------------------
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 Identification code (ISIN)
of instrument for MTI Wireless Edge Ltd's
Identification ordinary shares: IL0010958762
code
--- ------------------------ -------------------------------
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 40,000
Disposal Disposal
of ordinary of ordinary
shares: shares:
GBP0.206 40,000
------------- -------------
--- ------------------------ -------------------------------
d) Aggregated information
--- ------------------------ -------------------------------
- Aggregated Exercise of options: 40,000
volume Disposal of ordinary shares:
40,000
--- ------------------------ -------------------------------
- Price Exercise of options: GBP3,800
Disposal of ordinary shares:
GBP8,240
--- ------------------------ -------------------------------
e) Date of the transaction Exercise of options: 6 October
2016
Disposal of ordinary shares:
6 October 2016
--- ------------------------ -------------------------------
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 http://www.mtiwe.com/ +972
Dov Feiner, CEO 3 900 8900
Moni Borovitz, Financial
Director
--------------------------- ---------------------------
Allenby Capital
Limited Nick Naylor
Alex Brearley +44 20 3328 5656
--------------------------- ---------------------------
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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