Notice of AGM

RNS Number : 7436E
MTI Wireless Edge Limited
13 April 2011

MTI Wireless Edge Limited

13 April, 2011






Following the announcement on 14 March 2011 of the Company's results for the year ended 31 December 2010, the Company's Audited Report and Accounts is being posted today to shareholders, together with a Notice of Annual General Meeting to be held at 10.00 am (London time) on Friday, 20 May 2011 at the offices of Allenby Capital Limited, 32 Davies Street, London W1K 4ND.


The business to be conducted at the AGM will be to present the Report and Accounts for the year 2010, and, if thought fit, to pass the following resolutions:


(a) re-appoint certain Directors;

(b) re-appoint the Company auditors;

(c) amend the Chief Executive Officer's remuneration package; and

(d) approve the issuance of 1.2 million options to certain Directors and Employees of the Company, exercisable into 1.2 million ordinary shares of the Company (representing approximately 2.3% of the Company's current issued and voting share capital of 51,571,990 ordinary shares). It is the Board's intention (subject to the passing of the relevant resolution at the AGM) to grant 180,000 options (0.35%) to  Dov Feiner (Director and Chief Executive Officer) and 150,000 options (0.29%) Moni Borovitz (Finance Director and controlling shareholder). These options will have a vesting date of 31st May, 2014 and an exercise price of 13.5p per share, which represents a premium of 25% on the Company's current share price.


For the avoidance of doubt the above options will only be granted following shareholder approval of the resolution at the AGM.



MTI Wireless Edge

Dov Feiner, CEO

Moni Borovitz, Finance Director                                                                      +972 3 900 89002

Allenby Capital

Nick Naylor

Alex Price                                                                                                              +44 203 328 5656

Threadneedle Communications

Graham Herring

Terry Garrett                                                                                                         +44 207 653 9850


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 includes 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.

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