27 Dec 2018 07:00
The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
Telit Communications PLC
Update on sale of automotive division - TUS publishes circular
London, 27 December 2018 -Telit Communications PLC ("Telit", "the Group", AIM: TCM), a global enabler of the Internet of Things (IoT), confirms that TUS International Limited ("TUS") has published its shareholder circular with respect to the purchase of Telit's automotive division, in accordance with previous announcements.
The timetable for the transaction therefore remains that TUS shareholder approval is expected to be obtained on 29 January 2019 and the transaction to complete by 31 January 2019. The internal reorganisation of Telit's automotive division, on which the sale is also conditional, is substantially complete and will be finished before the completion date.
The circular can be found in the following link:
http://www3.hkexnews.hk/listedco/listconews/sehk/2018/1226/LTN20181226071.PDF
Enquiries:
Telit Communications PLC Paolo Dal Pino, Executive Chairman | Tel: +44 203 289 3831 |
Yariv Dafna, Finance Director | |
finnCap (Nomad and joint broker) | Tel: +44 20 7220 0500 |
Henrik Persson/Giles Rolls (corporate finance) | |
Tim Redfern/Richard Chambers (corporate broking) | |
Berenberg (Joint Broker) | Tel: +44 20 3465 2722 |
Chris Bowman/Mark Whitmore | |
Instinctif Partners | Tel: +44 20 7457 2077 |
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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