Telit Communications PLC Director's Dealing (1035K)

TIDMTCM

RNS Number : 1035K

Telit Communications PLC

04 July 2017

4 July 2017

Telit Communications PLC

Director's Dealing

Telit Communications PLC ("Telit", "the Company", AIM: TCM), announces that Mr. Yosi Fait, the Company's President and Finance Director, exercised 500,000 options over ordinary shares of the Company, with an exercise price of 206p, in a cashless manner.

Mr. Fait sold the resulting 173,567 shares and an additional 315,000 ordinary shares - 488,567 ordinary shares in the aggregate - at a weighted average price of 310 pence per share, as further detailed in the form below.

Following the transaction, Mr. Fait holds 1,000,000 options over the Company's shares.

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                            Yosi Fait 
---  ------------------------------  ------------------------------------------------------------------ 
 2.   Reason for the notification 
---  -------------------------------------------------------------------------------------------------- 
 a)   Position                        Finance Director, President 
       / 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: 206 pence   500,000 options 
                                       --------------------------  ---------------- 
 
                                       The options were exercised on 
                                       a cashless basis. Actual number 
                                       of resulting shares, which were 
                                       subsequently and immediately 
                                       sold, was 173,567. 
---  ------------------------------  ------------------------------------------------------------------ 
 d)        Aggregated 
            information                 N/A - single transaction 
             *    Aggregated volume 
 
 
             *    Aggregated price 
 
 
             *    Aggregated total 
---  ------------------------------  ------------------------------------------------------------------ 
 e)   Date of the                     28 June 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                       Sale of Ordinary Shares 
       the transaction 
---  ------------------------------  ------------------------------------------------------------------ 
 c)   Price(s)                         Price(s)          Volume(s) 
       and volume(s)                   ----------------  ---------- 
                                        315.1301 pence    16,898 
                                       ----------------  ---------- 
                                        315.5 pence       256,669 
                                       ----------------  ---------- 
---  ------------------------------  ------------------------------------------------------------------ 
 d)        Aggregated                  Weighted average price   Aggregated volume   Aggregated total 
            information                -----------------------  ------------------  ----------------- 
             *    Aggregated volume     315.4771 pence           273,567             GBP863,041 
                                       -----------------------  ------------------  ----------------- 
 
             *    Aggregated price 
 
 
             *    Aggregated total 
---  ------------------------------  ------------------------------------------------------------------ 
 e)   Date of the                     28 June 2017 (UK) 
       transaction 
---  ------------------------------  ------------------------------------------------------------------ 
 f)   Place of                        London Stock Exchange, AIM 
       the transaction 
---  ------------------------------  ------------------------------------------------------------------ 
 6.   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                       Sale of Ordinary Shares 
       the transaction 
---  ------------------------------  ------------------------------------------------------------------ 
 c)   Price(s)                         Price(s)          Volume(s) 
       and volume(s)                   ----------------  ---------- 
                                        305.5 pence       25,000 
                                       ----------------  ---------- 
                                        305.25 pence      13,000 
                                       ----------------  ---------- 
                                        306.1202 pence    7,865 
                                       ----------------  ---------- 
                                        305.5 pence       80,000 
                                       ----------------  ---------- 
                                        300 pence         89,135 
                                       ----------------  ---------- 
---  ------------------------------  ------------------------------------------------------------------ 
 d)        Aggregated                  Weighted average price   Aggregated volume   Aggregated total 
            information                -----------------------  ------------------  ----------------- 
             *    Aggregated volume     303.2273 pence           215,000             GBP651,939 
                                       -----------------------  ------------------  ----------------- 
 
             *    Aggregated price 
 
 
             *    Aggregated total 
---  ------------------------------  ------------------------------------------------------------------ 
 e)   Date of the                     3 July 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 
 
  Berenberg (Joint Broker)             Tel: [phone] 
                                                   2722 
  Chris Bowman/Ben Wright 
 
  Instinctif Partners 
  Adrian Duffield/Chantal Woolcock     Tel: [phone] 
                                                   2020 
 

The company news service from the London Stock Exchange

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July 04, 2017 10:25 ET (14:25 GMT)