MTI Wireless Edge Limited PDMR Shareholding and Exercise of Options (8075O)

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RNS Number : 8075O

MTI Wireless Edge Limited

23 August 2017

23 August 2017

MTI Wireless Edge Ltd

("MTI" or the "Company")

PDMR Shareholding and Exercise of Options

MTI Wireless Edge Ltd (AIM: MWE), a market leader in the manufacture of flat panel antennas for fixed wireless broadband and a wireless irrigation solutions provider, announces an exercise of options and a sale of ordinary shares by the Company's Vice President of Research & Development, Daniel Zerach. Mr. Zerach has today sold 90,000 ordinary shares in the Company at a price of 34.5 pence per ordinary share and has also today exercised 90,000 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 Zerach does not have a beneficial interest in the Company's ordinary shares. Mr. Zerach remains interested in options to subscribe for a further 30,000 new ordinary shares in the Company, of which none have vested, but will be vested on August 30, 2017.

Following the above exercise of options, MTI will make an application for 90,000 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 30 August 2017.

Following the issue of the New Shares, the Company will have a total of 53,011,818 ordinary shares in issue. Therefore the total number of ordinary shares with voting rights will be 53,011,818, 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                      Daniel Zerach 
---  ------------------------  ------------------------------- 
 2    Reason for the notification 
---  --------------------------------------------------------- 
 a)   Position/status           Vice President of Research 
                                 & Development 
---  ------------------------  ------------------------------- 
 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                       2138003Y3AHVBB1QCY91 
---  ------------------------  ------------------------------- 
 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 
       of instrument 
       Identification            Identification code (ISIN) 
       code                      for MTI Wireless Edge Ltd's 
                                 ordinary shares: IL0010958762 
---  ------------------------  ------------------------------- 
 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       90,000 
                                    Disposal       Disposal 
                                    of ordinary    of ordinary 
                                    shares:        shares: 
                                    GBP0.345       90,000 
                                  -------------  ------------- 
---  ------------------------  ------------------------------- 
 d)   Aggregated information 
---  ------------------------  ------------------------------- 
      - Aggregated              Exercise of options: 90,000 
       volume                    Disposal of ordinary shares: 
                                 90,000 
---  ------------------------  ------------------------------- 
      - Price                   Exercise of options: GBP8,550 
                                 Disposal of ordinary shares: 
                                 GBP31,050 
---  ------------------------  ------------------------------- 
 e)   Date of the transaction   Exercise of options: 23 
                                 August 2017 
                                 Disposal of ordinary shares: 
                                 23 August 2017 
---  ------------------------  ------------------------------- 
 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 Ltd                 http://www.mtiwe.com/ 
  Dov Feiner, CEO                       [phone] 
  Moni Borovitz, Financial Director 
 
   Nomad and Joint Broker 
   Allenby Capital Limited 
   Nick Naylor 
   Alex Brearley                       [phone] 
 
   Joint Broker 
   Peterhouse Corporate Finance 
   Limited 
   Lucy Williams 
   Eran Zucker                         [phone] 
 

About MTI Wireless Edge

MTI is engaged in the development, production and marketing of high quality, low cost, flat panel antennas for commercial and for military applications. Commercial applications include: WiMAX; wireless networking; RFID readers; and broadband wireless access. With over 40 years' experience MTI supplies 100KHz to 90GHz antennas (including directional antennas and omni directional) for outdoor and indoor deployments, including smart antennas for WiMAX, Wi-Fi, public safety, RFID and base stations and terminals. For the 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 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 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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August 23, 2017 09:04 ET (13:04 GMT)