Last checked at 4 Sep 2017 16:03
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 /Amendment | Initial notification | ||||
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 financial instrument, type of instrument Identification code | Ordinary shares of 0.01 Israeli shekels each
Identification code (ISIN) for MTI Wireless Edge Ltd's ordinary shares: IL0010958762 | ||||
b) | Nature of the transaction | Exercise of options and disposal of ordinary shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information | |||||
- Aggregated volume | Exercise of options: 280,000 Disposal of ordinary shares: 1,080,000 | |||||
- Price | Exercise of options: £26,600 Disposal of ordinary shares: £334,800 | |||||
e) | Date of the transaction | Exercise of options: 4 September 2017 Disposal of ordinary shares: 4 September 2017 | ||||
f) | Place of the transaction | Exercise of options: Outside 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 /Amendment | Initial notification | ||||
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 financial instrument, type of instrument Identification code | Ordinary shares of 0.01 Israeli shekels each
Identification code (ISIN) for MTI Wireless Edge Ltd's ordinary shares: IL0010958762 | ||||
b) | Nature of the transaction | Disposal of ordinary shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information | |||||
- Aggregated volume | 108,037 | |||||
- Price | £33,491.47 | |||||
e) | Date of the transaction | 4 September 2017 | ||||
f) | Place of the transaction | London Stock Exchange (XLON), AIM market | ||||
For further information please contact:
MTI Wireless Edge Ltd Dov Feiner, CEO Moni Borovitz, Financial Director | http://www.mtiwe.com/ +972 3 900 8900 |
Nomad and Joint Broker Allenby Capital Limited Nick Naylor Alex Brearley | +44 20 3328 5656
|
Joint BrokerPeterhouse 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.