Telit Communications PLC Holding(s) in Company (4163O)

TIDMTCM

RNS Number : 4163O

Telit Communications PLC

18 August 2017

 
 
 TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES(i) 
-------------------------------------------------------------------------------------------- 
 
 1. Identity of the issuer or                              Telit Communications PLC 
  the underlying issuer 
  of existing shares to which 
  voting rights are 
  attached: (ii) 
--------------------------------------------------------  ---------------------------------- 
 2 Reason for the notification (please tick the appropriate 
  box or boxes): 
-------------------------------------------------------------------------------------------- 
 An acquisition or disposal of voting rights                              ü 
------------------------------------------------------------  ------------------------------ 
 An acquisition or disposal of qualifying financial 
  instruments which may result in the acquisition 
  of shares already issued to which voting rights 
  are attached 
------------------------------------------------------------  ------------------------------ 
 An acquisition or disposal of instruments with 
  similar economic effect to qualifying financial 
  instruments 
------------------------------------------------------------  ------------------------------ 
 An event changing the breakdown of voting rights 
------------------------------------------------------------  ------------------------------ 
 Other (please 
  specify): 
----------------------------------------------------  ------  ------------------------------ 
 3. Full name of person(s)                               Lazarus Management Company 
  subject to the                                          LLC 
  notification obligation: 
  (iii) 
------------------------------------------------------  ------------------------------------ 
 4. Full name of shareholder(s)                          Lazarus Investment Partners 
  (if different from 3.):(iv)                             LLLP 
                                                          Lazarus Israel Opportunities 
                                                          Fund LLLP 
                                                          Lazarus Israel Opportunities 
                                                          Fund II LLLP 
                                                          Lazarus Israel Opportunities 
                                                          Fund Offshore Ltd. 
                                                          Ibex Driverless Fund LP 
------------------------------------------------------  ------------------------------------ 
 5. Date of the transaction                              15 August 2017 
  and date on 
  which the threshold is 
  crossed or 
  reached: (v) 
------------------------------------------------------  ------------------------------------ 
 6. Date on which issuer                                 17 August 2017 
  notified: 
------------------------------------------------------  ------------------------------------ 
 7. Threshold(s) that is/are                             Above 4% 
  crossed or 
  reached: (vi, vii) 
------------------------------------------------------  ------------------------------------ 
 
 
 
 8. Notified details: 
---------------------------------------------------------------------------------------------------------------------- 
 A: Voting rights attached to shares (viii, ix) 
---------------------------------------------------------------------------------------------------------------------- 
 Class/type      Situation previous                  Resulting situation after the 
  of              to the triggering                   triggering transaction 
  shares          transaction 
 
  if possible 
  using 
  the ISIN 
  CODE 
--------------  ----------------------------------  ------------------------------------------------------------------ 
                 Number            Number            Number          Number of                % of voting 
                 of                 of                of shares       voting                   rights (x) 
                 Shares             Voting                            rights 
                                    Rights 
--------------  ----------------  ----------------  --------------  -----------------------  ------------------------- 
                                                     Direct          Direct     Indirect      Direct        Indirect 
                                                                     (xi)        (xii) 
--------------      ------------    ------------    --------------  ---------  ------------  ------------  ----------- 
 
  GB00B06GM726                     4,611,000         N/A             N/A        5,965,000     N/A           4.60% 
                ----------------  ----------------  --------------  ---------  ------------  ------------  ----------- 
 
 
 B: Qualifying Financial Instruments 
---------------------------------------------------------------------------------------------------------------------- 
 Resulting situation after the triggering transaction 
---------------------------------------------------------------------------------------------------------------------- 
 Type of financial   Expiration      Exercise/                         Number of voting           % of voting 
  instrument          date            Conversion                        rights that                rights 
                      (xiii)          Period (xiv)                      may be 
                                                                        acquired if 
                                                                        the 
                                                                        instrument 
                                                                        is 
                                                                        exercised/ 
                                                                        converted. 
------------------  --------------  --------------------------------  -------------------------  --------------------- 
 
 
 C: Financial Instruments with similar economic effect 
  to Qualifying Financial Instruments (xv, xvi) 
---------------------------------------------------------------------------------------------------------------------- 
 Resulting situation after the triggering transaction 
---------------------------------------------------------------------------------------------------------------------- 
 Type of           Exercise        Expiration      Exercise/         Number of voting           % of voting 
 financial          price          date            Conversion         rights instrument          rights (xix, 
 instrument                        (xvii)          period             refers to                  xx) 
                                                   (xviii) 
----------------  --------------  --------------  ----------------  -------------------------  ----------------------- 
                                                                                                Nominal       Delta 
----------------  --------------  --------------  ----------------  -------------------------  ------------  --------- 
 
 
 Total (A+B+C) 
---------------------------------------------------------------------------------------------------------------------- 
 Number of voting rights                               Percentage of voting rights 
----------------------------------------------------  ---------------------------------------------------------------- 
 5,965,000                                             4.60% 
----------------------------------------------------  ---------------------------------------------------------------- 
 
 
 
 9. Chain of controlled undertakings through which the 
  voting rights and/or the 
  financial instruments are effectively held, if applicable: 
  (xxi) 
--------------------------------------------------------------------------------------------------- 
 
   Lazarus Management Company LLC is the investment adviser 
   of the investment funds listed below. The total disclosable 
   holding for Lazarus Management Company LLC is 5,965,000 
   shares (4.60% of voting rights). 
    Fund name                       Number of shares   Percentage 
   ------------------------------  -----------------  ----------- 
    Lazarus Israel Opportunities 
     Fund LLLP                      2,557,000          1.97% 
   ------------------------------  -----------------  ----------- 
    Lazarus Investment Partners 
     LLLP                           409,000            0.32% 
   ------------------------------  -----------------  ----------- 
    Lazarus Israel Opportunities 
     Fund II LLLP                   2,723,000          2.10% 
   ------------------------------  -----------------  ----------- 
    Lazarus Israel Opportunities 
     Fund Offshore Ltd.             229,000            0.18% 
   ------------------------------  -----------------  ----------- 
    Ibex Driverless Fund 
     LP                             47,000             0.04% 
   ------------------------------  -----------------  ----------- 
    Aggregate position              5,965,000          4.60% 
   ------------------------------  -----------------  ----------- 
 
 Proxy Voting: 
--------------------------------------------------------------------------------------------------- 
 10. Name of the proxy holder: 
------------------------------------------------------------------  ------------------------------- 
 11. Number of voting rights proxy 
  holder will cease 
  to hold: 
------------------------------------------------------------------  ------------------------------- 
 12. Date on which proxy holder will 
  cease to hold 
  voting rights: 
------------------------------------------------------------------  ------------------------------- 
 
 
  13. Additional information:                                        This disclosure has been 

                                                                     calculated based on an issued 
                                                                     share capital of 129,815,845. 
------------------------------------------------------------------  ------------------------------- 
 14. Contact name:                                                   Bryan Cave Solicitors 
------------------------------------------------------------------  ------------------------------- 
 15. Contact telephone number:                                       020 3207 1100 
------------------------------------------------------------------  ------------------------------- 
 For notes on how to complete form TR-1 please see the 
  FCA website. 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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August 18, 2017 05:55 ET (09:55 GMT)