MTI Wireless Edge Limited PDMR Shareholding and Exercise of Options (9288L)

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RNS Number : 9288L

MTI Wireless Edge Limited

06 October 2016

6 October 2016

MTI Wireless Edge Ltd

("MTI" or the "Company")

PDMR Shareholding and Exercise of Options

MTI announces an exercise of options and a sale of ordinary shares by the Company's Chief Operating Officer, Shlomo Ben Naim. Mr Ben Naim has sold 40,000 ordinary shares in the Company at a price of 20.60 pence per ordinary share and has also exercised 40,000 options to subscribe for new ordinary shares in the Company. The aforementioned options had an exercise price of 9.5 pence per ordinary share. The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

Following the above actions, Mr Ben Naim does not have a beneficial interest in the Company's ordinary shares. Mr Ben Naim remains interested in options to subscribe for a further 40,000 new ordinary shares in the Company, of which 20,000 have vested.

Following the above exercise of options, MTI will make an application for 40,000 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 12 October 2016.

Following the issue of the New Shares, the Company will have a total of 51,779,490 ordinary shares in issue. Therefore the total number of ordinary shares with voting rights will be 51,779,490, 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.

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                      Shlomo Ben Naim 
---  ------------------------  ------------------------------- 
 2    Reason for the notification 
---  --------------------------------------------------------- 
 a)   Position/status           Chief Operating Officer 
---  ------------------------  ------------------------------- 
 b)   Initial notification      Initial notification 
       /Amendment 
---  ------------------------  ------------------------------- 
 3    Details of the issuer, emission 
       allowance market participant, 
       auction platform, auctioneer 
       or auction monitor 
---  --------------------------------------------------------- 
 a)   Name                      MTI Wireless Edge Ltd 
---  ------------------------  ------------------------------- 
 b)   LEI                       Not available 
---  ------------------------  ------------------------------- 
 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            Ordinary shares of 0.01 
       the financial             Israeli shekels each 
       instrument, type          Identification code (ISIN) 
       of instrument             for MTI Wireless Edge Ltd's 
       Identification            ordinary shares: IL0010958762 
       code 
---  ------------------------  ------------------------------- 
 b)   Nature of the             Exercise of options and 
       transaction               disposal of ordinary shares 
---  ------------------------  ------------------------------- 
 c)   Price(s) and                Price(s)       Volume(s) 
       volume(s)                  -------------  ------------- 
                                   Exercise       Exercise 
                                    of options:    of options: 
                                    GBP0.095       40,000 
                                    Disposal       Disposal 
                                    of ordinary    of ordinary 
                                    shares:        shares: 
                                    GBP0.206       40,000 
                                  -------------  ------------- 
---  ------------------------  ------------------------------- 
 d)   Aggregated information 
---  ------------------------  ------------------------------- 
      - Aggregated              Exercise of options: 40,000 
       volume                    Disposal of ordinary shares: 
                                 40,000 
---  ------------------------  ------------------------------- 
      - Price                   Exercise of options: GBP3,800 
                                 Disposal of ordinary shares: 
                                 GBP8,240 
---  ------------------------  ------------------------------- 
 e)   Date of the transaction   Exercise of options: 6 October 
                                 2016 
                                 Disposal of ordinary shares: 
                                 6 October 2016 
---  ------------------------  ------------------------------- 
 f)   Place of the              Exercise of options: Outside 
       transaction               a Trading Venue 
                                 Disposal of ordinary shares: 
                                 London Stock Exchange (XLON), 
                                 AIM market 
---  ------------------------  ------------------------------- 
 

For further information please contact:

 
 MTI Wireless Edge            http://www.mtiwe.com/ +972 
  Dov Feiner, CEO              3 900 8900 
  Moni Borovitz, Financial 
  Director 
---------------------------  --------------------------- 
 Allenby Capital 
  Limited Nick Naylor 
  Alex Brearley                         [phone] 
---------------------------  --------------------------- 
 

About MTI Wireless Edge

MTI is engaged in the development, production and marketing of High Quality, Low Cost, Flat Panel Antennas for Commercial & for Military applications. Commercial applications such as: WiMAX, Wireless Networking, RFID readers &, Broadband Wireless Access. With over 40 years' experience, supplying antennas 100KHz to 90GHz including directional antennas and Omni directional for outdoor and indoor deployments including Smart Antennas for WiMAX, Wi-Fi, Public Safety, RFID and for Base Stations and Terminals - 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's 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's activities are focused in the market segments of agriculture, water distribution, Municipal and Commercial Landscape and Wastewater and Storm water Reuse.

This information is provided by RNS

The company news service from the London Stock Exchange

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October 06, 2016 11:11 ET (15:11 GMT)