MTI Wireless Edge Limited Transaction in own shares (2718E)

TIDMMWE

RNS Number : 2718E

MTI Wireless Edge Limited

10 March 2022

10 March 2022

MTI Wireless Edge Ltd

("MTI" or the "Company")

Transaction in own shares

In accordance with the Company's Share Repurchase Programme, MTI Wireless Edge Ltd. (AIM: MWE), the technology group focused on comprehensive communication and radio frequency solutions across multiple sectors, announces that 50,000 ordinary shares of par value 0.01 Israeli Shekels each in the capital of the Company ("Ordinary Shares") were sold by the Company on 9 March 2022, at a price of 57 p per share from the Company's treasury shares. The sale was following interest from an institutional investor and the funds raised by the sale of these treasury shares will remain within the Share Repurchase Programme for future transactions.

Following this transaction, the Company does not hold any Ordinary Shares in treasury. The total number of Ordinary Shares in issue is 88,538,724 and the total number of voting rights in the Company as at the date of this announcement is therefore 88,538,724, which may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company.

In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 as it applies in the UK (the Market Abuse Regulation), the schedule below contains detailed information about the sales made on the Company's behalf by Thomas Grant & Company Ltd who are acting as agents.

Schedule of Sales

 
 Shares sold:       MTI Wireless Edge Ltd (ISIN: IL0010958762) 
 Date of sale:      9 March 2022 
 Investment firm:   Thomas Grant & Company Ltd 
 
 

Aggregate information:

 
 Venue                    Volume-weighted   Aggregated volume 
                           average price, 
                           pence 
 London Stock Exchange    57 p              50,000 
 

Individual transaction:

 
 Number of Ordinary   Transaction price      Time of transaction   Trading venue 
  Shares sold          (pence per Ordinary 
                       Share) 
 50,000               57 p                   12:44                 London Stock Exchange 
 

For further information please contact:

 
 MTI Wireless Edge Ltd                                              [phone] 
  Moni Borovitz, CEO                                 http://www.mtiwirelessedge.com 
 Allenby Capital Limited (Nomad and Joint 
  Broker) 
  Nick Naylor/Alex Brearley/Piers Shimwell 
  (Corporate Finance) 
  Amrit Nahal/David Johnson (Sales and 
  Corporate Broking)                                               [phone] 
 
   Shore Capital (Joint Broker) 
   Toby Gibbs/John More/James O'Neill (Corporate 
   Advisory) 
   Fiona Conroy (Corporate Broking)                                [phone] 
 Novella (Financial PR) 
  Tim Robertson/Fergus Young                                       [phone] 
 
 

About MTI Wireless Edge Ltd. ("MTI")

Headquartered in Israel, MTI is a technology group focused on comprehensive communication and radio frequency solutions across multiple sectors through three 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 174 GHz.

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

MTI supplies directional and omnidirectional antennas for outdoor and indoor deployments, including smart antennas for 5G backhaul, Broadband access, public safety, RFID, base station 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.

Water Control & Management Division

Via its subsidiary, Mottech Water Solutions Ltd ("Mottech"), MTI 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, increase crops quality and yield, while reducing operational and maintenance costs providing fast ROI while helping sustain the environment. 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.

Distribution & Professional Consulting Services Division

Via its subsidiary, MTI Summit Electronics Ltd., MTI offers consulting, representation and marketing services to foreign companies in the field of RF and Microwave solutions and applications including engineering services (including design and integration) in the field of aerostat systems and the ongoing operation of Platform subsystems, SIGINT, RADAR, communication and observation systems which is performed by the Company. It also specializes in the development, manufacture and integration of communication systems and advanced monitoring and control systems for the Government and defence industry market.

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March 10, 2022 02:00 ET (07:00 GMT)