9 Aug 2017 07:00
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
9 August 2017
Telit Communications PLC
Statement regarding Chief Executive Officer
Telit Communications PLC (AIM: TCM, "Telit", the "Group"), a global enabler of the Internet of Things (IoT), notes speculation regarding historical indictments in the United States of America of Telit's Chief Executive Officer, Oozi Cats, in respect of matters which are unrelated to Telit and significantly pre-date its establishment.
The Board of Telit has appointed independent solicitors to conduct a thorough review of this matter. Pending the outcome of this review, the Board have agreed to Mr. Cats' request for a leave of absence from the company. Yosi Fait, Finance Director and President, will serve as interim Chief Executive Officer during this time.
Further updates will be made as soon as possible.
Enquiries:
Telit Communications PLCYosi Fait, Finance Director & President | Tel: +44 203 289 3831 |
finnCap (Nomad and joint broker) Stuart Andrews/ Henrik Persson / Alex Price (corporate finance) Tim Redfern / Richard Chambers (corporate broking) | Tel: +44 20 7220 0500 |
Berenberg (Joint Broker) Chris Bowman / Mark Whitmore | Tel: +44 20 3465 2722 |
Instinctif Partners | Tel: +44 20 7457 2020 |
Adrian Duffield / Tim Linacre / Chantal Woolcock | |
Slate Campaigns | Tel: +44 20 3126 4979 |
Jonathan Hawker | |
jh@slatecampaigns.com |