2 Jul 2019 08:00
2 July 2019
Telit Communications PLC
Grant of Options
Telit Communications PLC ("Telit", "the Group", AIM: TCM), a global enabler of the Internet of Things (IoT), has granted a total of 2,400,000 options ("Options") over ordinary shares of 1p in Telit ("Ordinary Shares") to certain board directors.
Of the total Options awarded, Paolo Dal Pino (CEO) and Yariv Dafna (Finance Director & President) have each received 2,000,000 and 400,000 Options respectively. The Options have an exercise price of 161p per Ordinary Share (being the average of the trailing 30 day closing mid-market price).
The Options will vest when three years have passed, subject to attainment of share price growth targets. Unexercised Options expire on the 5th anniversary of the grant date.
The grant of Options is in compliance with the Board's recent decision to limit its total equity-based compensation to 10% of Telit's total issued share capital, at any given time.
The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.
Enquiries:
Telit Communications PLC Yariv Dafna, Finance Director & President | Tel: +44 203 289 3831
|
finnCap (Nomad) Henrik Persson/Giles Rolls (corporate finance) Tim Redfern/Richard Chambers (ECM)
| Tel: +44 20 7220 0500 |
Instinctif Partners | Tel: +44 20 7457 2020 |
Adrian Duffield/Chantal Woolcock |
About Telit
Telit (AIM: TCM), is a global leader in Internet of Things (IoT) enablement. The company offers the industry's broadest portfolio of integrated products and services for end-to-end IoT deployments - including cellular communication modules in all technologies, GNSS, Wi-Fi, short-to-long range wireless modules, IoT connectivity plans and IoT platform services. Through the IoT Portal, Telit makes IoT onboarding easy, reduces risk, time to market, complexity and costs for asset tracking, remote monitoring and control, telematics, industrial automation and others, across many industries and vertical markets worldwide.
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Copyright © 2019 Telit Communications PLC. All rights reserved. Telit and all associated logos are trademarks of Telit Communications PLC in the United States and other countries. Other names used herein may be trademarks of their respective owners.
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Paolo Dal Pino | ||||
2. | Reason for the Notification | |||||
a) | Position/status | CEO | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Telit Communications Plc | ||||
b) | LEI | 213800FR4VJWKM1Z3836 | ||||
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 | Options over Ordinary Shares of 1 pence each | ||||
Identification code | GB00B06GM726 | |||||
b) | Nature of the transactions | Grant of Options | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information: · Aggregated volume · Price |
See above | ||||
e) | Date of the transaction | 1 July 2019 | ||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Yariv Dafna | ||||
2. | Reason for the Notification | |||||
a) | Position/status | Finance Director & President | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Telit Communications Plc | ||||
b) | LEI | 213800FR4VJWKM1Z3836 | ||||
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 | Options over Ordinary Shares of 1 pence each | ||||
Identification code | GB00B06GM726 | |||||
b) | Nature of the transactions | Grant of Options | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information: · Aggregated volume · Price |
See above | ||||
e) | Date of the transaction | 1 July 2019 | ||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||