Telit Communications PLC Director's Dealing (9593J)

TIDMTCM

RNS Number : 9593J

Telit Communications PLC

03 July 2017

3 July 2017

Telit Communications PLC

Director's Dealing

Telit Communications PLC ("Telit", "the Company", AIM: TCM), announces that Mr. Oozi Cats, the Company's Chief Executive, exercised 1,952,000 options over ordinary shares of the Company and retained the resulting 1,447,656 shares. The exercise price of the options, which were granted in 2011, was 81p and they were exercised in a cashless manner, based on the closing price of the shares on the date Mr. Cats provided the Company with the exercise notice (29 June 2017). In addition, Mr. Cats acquired 75,215 shares on 29 June 2017, at a price of 312.39 pence per share. See further details in the form below.

Following the transaction, Mr. Cats holds 16,333,470 shares, representing 12.6% of the issued 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 PDMR / person closely associated 
       with them ("PCA") 
---  ------------------------------------------------------------------------------- 
 a)   Name                            Oozi Cats 
---  ------------------------------  ----------------------------------------------- 
 2.   Reason for the notification 
---  ------------------------------------------------------------------------------- 
 a)   Position                        Chief Executive; director 
       / status 
---  ------------------------------  ----------------------------------------------- 
 b)   Initial notification            Initial notification 
       / amendment 
---  ------------------------------  ----------------------------------------------- 
 3.   Details of the issuer, emission allowance 
       market participant, auction platform, 
       auctioneer or auction monitor 
---  ------------------------------------------------------------------------------- 
 a)   Name                            Telit Communications PLC 
---  ------------------------------  ----------------------------------------------- 
 b)   Legal Entity                    n/a 
       Identifier 
---  ------------------------------  ----------------------------------------------- 
 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                     Options over ordinary shares 
       of the financial 
       instrument 
---  ------------------------------  ----------------------------------------------- 
 b)   Nature of                       Cashless exercise of options 
       the transaction 
---  ------------------------------  ----------------------------------------------- 
 c)   Price(s)                         Price(s)                   Volume(s) 
       and volume(s)                   -------------------------  ------------------ 
                                        Exercise price: 81 pence   1,952,000 options 
                                       -------------------------  ------------------ 
 
                                       The options were exercised on 
                                       a cashless basis. Actual number 
                                       of resulting shares, which were 
                                       retained by Mr. Cats, was 1,447,656. 
---  ------------------------------  ----------------------------------------------- 
 d)        Aggregated 
            information                 N/A - single transaction 
             *    Aggregated volume 
 
 
             *    Aggregated price 
 
 
             *    Aggregated total 
---  ------------------------------  ----------------------------------------------- 
 e)   Date of the                     3 July 2017 (UK) 
       transaction 
---  ------------------------------  ----------------------------------------------- 
 f)   Place of                        Outside a trading venue 
       the transaction 
---  ------------------------------  ----------------------------------------------- 
 5.   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                     Ordinary shares of 1 pence each 
       of the financial                ("Ordinary Shares") 
       instrument 
       Identification                  ISIN number GB00B06GM726 
       code 
---  ------------------------------  ----------------------------------------------- 
 b)   Nature of                       Purchase of Ordinary Shares 
       the transaction 
---  ------------------------------  ----------------------------------------------- 
 c)   Price(s)                         Price(s)        Volume(s) 
       and volume(s)                   --------------  ---------- 
                                        312.39 pence    75,215 
                                       --------------  ---------- 
---  ------------------------------  ----------------------------------------------- 
 d)        Aggregated 
            information 
             *    Aggregated volume     N/A - single transaction 
 
 
             *    Aggregated price 
 
 
             *    Aggregated total 
---  ------------------------------  ----------------------------------------------- 
 e)   Date of the                     29 June 2017(UK) 
       transaction 
---  ------------------------------  ----------------------------------------------- 
 f)   Place of                        London Stock Exchange, AIM 
       the transaction 
---  ------------------------------  ----------------------------------------------- 
 

For further information:

 
  Telit Communications PLC          Tel: [phone] 
  Yosi Fait, Finance Director 
   & President 
  Canaccord Genuity Limited            Tel: [phone] 
   (Nominated Adviser)                             8000 
  Simon Bridges/ Martin Davison 
  Instinctif Partners                  Tel: [phone] 
                                                   2020 
  Adrian Duffield/Chantal Woolcock 
  Berenberg (Joint Broker)             Tel: [phone] 
                                                   2722 
  Chris Bowman/Ben Wright 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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July 03, 2017 09:47 ET (13:47 GMT)