9 Feb 2021 07:00
9 February 2021
Telit Communications PLC
Grant of Performance Shares and RSUs
Telit Communications PLC ("Telit", "the Group", AIM: TCM), a global enabler of the Internet of Things (IoT), announces that, in accordance with its established incentivisation arrangements, it yesterday granted a total of 120,000 performance shares ("Performance Shares") to Eyal Shefer, Chief Financial Officer, and a further 1,095,000 Restricted Stock Units ("RSU") to senior management and employees of the Group.
The Performance Shares will vest three years after the grant date subject to attainment of share growth targets and have no exercise price. The target has been set by reference to a base price of 180 pence (being a 90 day average share price) and require 20% growth (in respect of one-quarter) and 40% growth (for the remainder). The terms of the RSUs are in accordance with the Telit 2015 Employee Share Plan as previously described and amended from time to time.
Enquiries:
Telit Communications PLC Paolo Dal Pino, Chief Executive Officer | Tel: +44 203 289 3831
|
finnCap (Nomad & Broker) Henrik Persson/Giles Rolls/Charlie Beeson (corporate finance) Tim Redfern/Richard Chambers (ECM)
| Tel: +44 20 7220 0500 |
FinElk | Tel: +44 20 7631 8618 |
Robin Haddrill/Cornelia Schnepf | Email: telit@finelk.eu |
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 © 2021 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 | Eyal Shefer | ||||
2. | Reason for the Notification | |||||
a) | Position/status | Chief Financial Officer | ||||
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 performance shares | ||||
c) | Price(s) and volume(s) |
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d) | Aggregated information: · Aggregated volume · Price |
See above | ||||
e) | Date of the transaction | 8 February 2021 | ||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||