MTI Wireless Edge Limited Results of EGM and AGM and Change in Board Roles (9296S)

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RNS Number : 9296S

MTI Wireless Edge Limited

14 March 2019

14 March 2019

MTI Wireless Edge Ltd

("MTI" or the "Company")

Results of EGM and AGM and Change in Board Roles

MTI Wireless Edge Ltd (AIM: MWE), the technology group focused on comprehensive communication and radio frequency solutions across multiple sectors, announces that all resolutions put to shareholders at the Company's Extraordinary General Meeting and Annual General Meeting held earlier today have been passed, via the required simple or special majority voting, as appropriate.

Following the passing of Resolution 10, Mr. Moni Borovitz has been appointed as the Chief Executive Officer of the Company with immediate effect. Mr. Dov Feiner, the previous Chief Executive Officer of the Company, will remain a director of the Company and the general manager of the Company's antenna division.

The proxy votes received from shareholders on each resolution are set out below.

 
 Resolutions*    Votes for    %          Votes against   %         Votes        Votes withheld 
                                                                    total 
 Resolution 
  2              46,502,798   99.9998%   100             0.0002%   46,502,898   0 
 Resolution 
  3              46,502,798   99.9998%   100             0.0002%   46,502,898   0 
 Resolution 
  4              46,502,798   99.9998%   100             0.0002%   46,502,898   0 
 Resolution 
  5              46,502,798   100%       0               0%        46,502,798   100 
 Resolution 
  6              46,502,798   100%       0               0%        46,502,798   100 
 Resolution 
  7              46,502,798   100%       0               0%        46,502,798   100 
 Resolution 
  8              46,502,798   100%       0               0%        46,502,798   100 
 Resolution 
  9              46,502,798   100%       0               0%        46,502,798   100 
 Resolution 
  10             46,502,798   100%       0               0%        46,502,798   100 
 Resolution 
  11             46,502,798   100%       0               0%        46,502,798   100 
 Resolution 
  12             46,502,798   100%       0               0%        46,502,798   100 
 Resolution 
  13             46,502,798   100%       0               0%        46,502,798   100 
 
 

* No vote was required on Resolution 1.

For further information please contact:

 
 MTI Wireless Edge Ltd                    www.mtiwirelessedge.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" or the "Company")

Headquartered in Israel, MTI is a technology group focused on comprehensive communication and radio frequency solutions across multiple sectors through four core divisions:

Antenna Division

MTI is a world leader in the design, development and production of high quality, state-of-the-art, and cost effective antenna solutions including Smart Antennas, MIMO Antennas and Dual Polarity Antennas for wireless applications. MTI supplies antennas for both military and commercial markets from 100 KHz to 90 GHz.

Internationally recognized as a producer of commercial off-the-Shelf and custom-developed antenna solutions in a broad frequency range, MTI Wireless Edge addresses both commercial and military applications.

MTI supplies directional and omnidirectional antennas for outdoor and indoor deployments, including smart antennas for WiMAX, Broadband access, public safety, RFID, base stations and terminals for the utility market.

Military applications include a wide range of broadband, tactical and specialized communication antennas, antenna systems and DF arrays installed on numerous airborne, ground and naval, including submarine, platforms worldwide.

Aerostat Operation Division

Via its system engineering division, the Group offers the design and integration of aerostat operation systems, along with the ongoing operation of Platform subsystems, SIGINT, RADAR, communication and observation systems.

Water Control & Management Division

Via its subsidiary, Mottech Water Solutions Ltd ("Mottech"), the Group provides high-end remote control solutions for water and irrigation applications based on Motorola's IRRInet state-of-the-art control, monitoring and communication technologies.

As Motorola's global prime-distributor Mottech serves its customers worldwide through its international subsidiaries and a global network of local distributors and representatives. With over 25 years of experience in providing customers with irrigation remote control and management, Mottech's solutions ensure constant, reliable and accurate water usage, while reducing operational and maintenance costs. Mottech's activities are focused in the market segments of agriculture, water distribution, municipal and commercial landscape as well as wastewater and storm-water reuse.

RF and Microwave Representative and Consultation Division

Via its subsidiary, MTI Summit Electronics Ltd., the group offers representative and expert consultation services specializing in RF and Microwave solutions and applications. It provides its services to international electronics suppliers operating in Israel, Eastern Europe, and Russia.

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March 14, 2019 11:03 ET (15:03 GMT)