Completion of scrip dividend & Holdings in Company

RNS Number : 9229J

MTI Wireless Edge Limited

05 April 2018

 

5 April 2018

MTI Wireless Edge Ltd

("MTI" or the "Company")

Completion of scrip dividend

Notification of Major Interest in Shares

Further to the announcement made by the Company on 26 March 2018, MTI Wireless Edge Ltd. (MWE), announces that pursuant to the Company's scrip dividend alternative, 1,813,970 new ordinary shares in the capital of the Company ("Ordinary Shares") have today been issued and the admission of these shares to trading on AIM ("Admission") became effective at 8.00 a.m. this morning.

MTI Computers & Software Services (1982) Ltd ("MTIC") has elected to receive 1,501,282 Ordinary Shares through its participation in the scrip dividend alternative.  MTIC now holds a total of 29,510,716 Ordinary Shares, which represents 53.2% of the voting rights in the enlarged issued ordinary share capital of the Company. MTIC is controlled by Mokirey Aya Ltd., a company controlled by the Borovitz family.

Additionally, four persons discharging managerial responsibilities ("PDMRs"), elected to participate in the scrip dividend alternative in respect of their direct holdings in the Company.

Following Admission, the Company now has 55,438,288 Ordinary Shares in issue and admitted to trading on AIM. This figure, 55,438,288 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.

The FCA notifications, made in accordance with the requirements of the EU Market Abuse Regulation, are appended further below and give further details on the participation in the scrip dividend alternative for directors and PDMRs and persons closely associated with them.

For further information please contact:

MTI Wireless Edge Dov Feiner, CEO Moni Borovitz, Financial Director	http://www.mtiwe.com/ [phone]
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 & for Military applications. Commercial applications such as: WiMAX, Wireless Networking, RFID readers &, Broadband Wireless Access. With over 40 years' experience, supplying antennas 100KHz to 90GHz including directional antennas and Omni directional for outdoor and indoor deployments including Smart Antennas for WiMAX, Wi-Fi, Public Safety, RFID and for Base Stations and Terminals  - 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's 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's activities are focused in the market segments of agriculture, water distribution, Municipal and Commercial Landscape and Wastewater and Storm water Reuse.

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	Zvi Borovitz
2	Reason for the notification
a)	Position/status	Director - Non Executive Chairman of MTI Wireless Edge Ltd
b)	Initial notification /Amendment	Initial notification
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 the financial instrument, type of instrument Identification code	Ordinary shares of 0.01 Israeli shekels each Identification code (ISIN) for MTI Wireless Edge Ltd's ordinary shares: IL0010958762
b)	Nature of the transaction	Participation in scrip dividend
c)	Price(s) and volume(s)	Price(s) Volume(s) Scrip reference price of 27 pence per share 38,913 ordinary shares were acquired through participation in a scrip dividend
d)	Aggregated information - Aggregated volume - Price	Single transaction as in 4 c) above 38,913 ordinary shares were acquired through participation in a scrip dividend Scrip reference price of 27 pence per share
e)	Date of the transaction	5 April 2018
f)	Place of the transaction	Outside of trading venue - Participation in scrip dividend

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Moni Borovitz
2	Reason for the notification
a)	Position/status	Director - Financial Director of MTI Wireless Edge Ltd
b)	Initial notification /Amendment	Initial notification
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 the financial instrument, type of instrument Identification code	Ordinary shares of 0.01 Israeli shekels each Identification code (ISIN) for MTI Wireless Edge Ltd's ordinary shares: IL0010958762
b)	Nature of the transaction	Participation in scrip dividend
c)	Price(s) and volume(s)	Price(s) Volume(s) Scrip reference price of 27 pence per share 4,985 ordinary shares were acquired through participation in a scrip dividend
d)	Aggregated information - Aggregated volume - Price	Single transaction as in 4 c) above 4,985 ordinary shares were acquired through participation in a scrip dividend Scrip reference price of 27 pence per share
e)	Date of the transaction	5 April 2018
f)	Place of the transaction	Outside of trading venue - Participation in scrip dividend

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	MTI Computers & Software Services (1982) Ltd
2	Reason for the notification
a)	Position/status	MTI Computers & Software Services (1982) Ltd is a person closely associated with MTI Wireless Edge Ltd's Non Executive Chairman, Zvi Borovitz and MTI Wireless Edge Ltd's Financial Director, Moni Borovitz, both of whom are persons discharging managerial responsibilities
b)	Initial notification /Amendment	Initial notification
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 the financial instrument, type of instrument Identification code	Ordinary shares of 0.01 Israeli shekels each Identification code (ISIN) for MTI Wireless Edge Ltd's ordinary shares: IL0010958762
b)	Nature of the transaction	Participation in scrip dividend
c)	Price(s) and volume(s)	Price(s) Volume(s) Scrip reference price of 27 pence per share 1,501,282 ordinary shares were acquired through participation in a scrip dividend
d)	Aggregated information - Aggregated volume - Price	Single transaction as in 4 c) above MTI Computers & Software Services (1982) Ltd acquired 1,501,282 ordinary shares through participation in a scrip dividend Scrip reference price of 27 pence per share
e)	Date of the transaction	5 April 2018
f)	Place of the transaction	Outside of trading venue - Participation in scrip dividend

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Menashe Mani
2	Reason for the notification
a)	Position/status	Chief Executive Officer of MTI Computers & Software Services (1982) Ltd
b)	Initial notification /Amendment	Initial notification
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 the financial instrument, type of instrument Identification code	Ordinary shares of 0.01 Israeli shekels each Identification code (ISIN) for MTI Wireless Edge Ltd's ordinary shares: IL0010958762
b)	Nature of the transaction	Participation in scrip dividend
c)	Price(s) and volume(s)	Price(s) Volume(s) Scrip reference price of 27 pence per share 4,632 ordinary shares were acquired through participation in a scrip dividend
d)	Aggregated information - Aggregated volume - Price	Single transaction as in 4 c) above 4,632 ordinary shares were acquired through participation in a scrip dividend Scrip reference price of 27 pence per share
e)	Date of the transaction	5 April 2018
f)	Place of the transaction	Outside of trading venue - Participation in scrip dividend

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Dov Feiner
2	Reason for the notification
a)	Position/status	Chief Executive Officer of MTI Wireless Edge Ltd
b)	Initial notification /Amendment	Initial notification
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 the financial instrument, type of instrument Identification code	Ordinary shares of 0.01 Israeli shekels each Identification code (ISIN) for MTI Wireless Edge Ltd's ordinary shares: IL0010958762
b)	Nature of the transaction	Participation in scrip dividend
c)	Price(s) and volume(s)	Price(s) Volume(s) Scrip reference price of 27 pence per share 85,286 ordinary shares were acquired through participation in a scrip dividend
d)	Aggregated information - Aggregated volume - Price	Single transaction as in 4 c) above 85,286 ordinary shares were acquired through participation in a scrip dividend Scrip reference price of 27 pence per share
e)	Date of the transaction	5 April 2018
f)	Place of the transaction	Outside of trading venue - Participation in scrip dividend

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