TIDMMWE
RNS Number : 7768P
MTI Wireless Edge Limited
04 September 2017
Dissemination of a Regulatory Announcement that contains inside
information according to REGULATION (EU) No 596/2014 (MAR)
4 September 2017
MTI Wireless Edge Ltd
("MTI" or the "Company")
PDMR dealings due to institutional demand 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 the exercise of
certain options and sales of ordinary shares by persons discharging
managerial responsibilities. All of today's sales of ordinary
shares by persons discharging managerial responsibilities and
employees were to satisfy demand from an institutional
investor.
The Company's Chief Executive Officer, Dov Feiner, has today
sold a total of 1,080,000 ordinary shares in the Company at a price
of 31 pence per ordinary share and has also today exercised 280,000
options to subscribe for new ordinary shares in the Company. Mr
Feiner's options had an exercise price of 9.5 pence per ordinary
share.
The Chief Executive Officer of the Company's major shareholder,
MTI Computers & Software Services (1982) Ltd, Menashe Mani, has
today sold 108,037 ordinary shares in the Company at a price of 31
pence per ordinary share.
The notifications further below, made in accordance with the
requirements of the EU Market Abuse Regulation, provide further
detail.
In addition, a number of employees have today exercised a total
of 332,500 options to subscribe for new ordinary shares in the
Company.
Following the above exercises of options, MTI will make an
application for a total of 612,500 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 8
September 2017.
Following the issue of the New Shares, the Company will have a
total of 53,624,318 ordinary shares in issue. Therefore the total
number of ordinary shares with voting rights will be 53,624,318,
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.
Following the above actions, Mr Feiner has a beneficial interest
in 1,989,000 ordinary shares in the Company, representing 3.7% of
voting rights in the enlarged share capital of the Company
following the issue of the New Shares.
Following the above actions, Mr Mani has a beneficial interest
in 108,038 ordinary shares in the Company, representing 0.2% of
voting rights in the enlarged share capital of the Company
following the issue of the New Shares.
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 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 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:
GBP0.095 280,000
Disposal Disposal
of ordinary of ordinary
shares: shares:
GBP0.31p 1,080,000
------------- -------------
--- ------------------------ ---------------------------------
d) Aggregated information
--- ------------------------ ---------------------------------
- Aggregated Exercise of options: 280,000
volume Disposal of ordinary shares:
1,080,000
--- ------------------------ ---------------------------------
- Price Exercise of options: GBP26,600
Disposal of ordinary shares:
GBP334,800
--- ------------------------ ---------------------------------
e) Date of the transaction Exercise of options: 4 September
2017
Disposal of ordinary shares:
4 September 2017
--- ------------------------ ---------------------------------
f) Place of the Exercise of options: Outside
transaction a Trading Venue
Disposal of ordinary shares:
London Stock Exchange (XLON),
AIM market
--- ------------------------ ---------------------------------
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 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 Disposal of ordinary shares
transaction
---- ------------------------- -------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) ---------- ----------
GBP0.31p 108,037
---------- ----------
---- ------------------------- -------------------------------
d) Aggregated information
---- ------------------------- -------------------------------
- Aggregated
volume 108,037
------------------------------ -------------------------------
- Price GBP33,491.47
------------------------------ -------------------------------
e) Date of the transaction 4 September 2017
---- ------------------------- -------------------------------
f) Place of the London Stock Exchange (XLON),
transaction 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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