Suspension of Share Repurchase Programme
Summary by AI BETAClose X
24 September 2026
MTI Wireless Edge Ltd
("MTI", the “Company” or the "Group")
Suspension of 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 it has decided to suspend its share buyback programme to repurchase ordinary shares ("Ordinary Shares") of par value 0.01 Israeli Shekels each in the Company (the "Share Repurchase Programme") (the “Share Buyback Suspension”).
The Share Buyback Suspension has been decided upon due to the total joint direct and indirect holdings of the Borovitz family and the Beer family, which constitute a controlling block in the Company, currently representing in aggregate, 44.9 per cent of the voting rights in the Company. Under the Israeli Companies Law, where a person acquires shares in a company, and as a result of such acquisition, such person will hold more than 45 per cent of the voting rights in the company (the “45 Per Cent Threshold”), and there is no other shareholder holding more than 45 per cent of the voting rights in the company, a special purchase offer must be made, as set out in the provisions of the Israeli Companies Law, failing which the shares so acquired will be treated as dormant.
However, these provisions do not apply where the 45 Per Cent Threshold is exceeded as a result of a share repurchase by the Company, although in such a case the shares in excess of the 45 Per Cent Threshold would not entitle their holder to voting rights.
As such, the Board has decided to put the Share Buyback Suspension into effect given that, if as a result of the Share Repurchase Programme, the Borovitz family and Beer family directly or indirectly were to hold more than 45% of the voting rights in the Company, a special purchase offer under the Israeli Companies Law will not be required, and the other shareholders would lose the protections otherwise afforded by the Israeli Companies Law.
The Share Repurchase Programme was originally announced on 24 January 2019, and has been subsequently extended, most recently to terminate at the end of March 2027 and has a maximum value of up to £1,000,000. The Company currently holds 2,343,000 Ordinary Shares in treasury under the Share Repurchase Programme, which do not have voting rights. Any recommencement of market purchases under the Share Repurchase Programme will be announced to the market. The Share Buyback Suspension is permitted under the terms of the Share Repurchase Programme.
The Company confirms that it is not currently in possession of any unpublished inside information.
Engage with the MTI Wireless LTD management team directly by asking questions, watching webinars and seeing what other shareholders have to say. Navigate to our interactive investor hub here: https://investors.mtiwirelessedge.com
For further information please contact:
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Investor questions on this announcement We encourage all investors to share questions on this announcement via our investor hub |
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MTI Wireless Edge Ltd Moni Borovitz, CEO |
+972 3 900 8900
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Allenby Capital Limited (Nomad and Joint Broker) Nick Naylor / Alex Brearley / David Asquith (Corporate Finance) Tony Quirke / Amrit Nahal (Sales and Corporate Broking) |
+44 20 3328 5656 |
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Shore Capital (Joint Broker) Toby Gibbs / George Payne (Corporate Advisory) Fiona Conroy (Corporate Broking)
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+44 20 7408 4090 |
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Novella (Financial PR) Tim Robertson / Oliver Norton |
+44 20 3151 7008 |
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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 and monitoring 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, improve crop 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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