11
December 2024
MTI
Wireless Edge Ltd
("MTI",
the "Company" or the "Group")
Share
purchases by substantial shareholders
Transaction in own shares
Total
voting rights
MTI Wireless Edge Ltd (AIM: MWE),
the technology group focused on comprehensive communication and
radio frequency solutions across multiple sectors, is pleased to
announce the following share transactions:
Share purchase by Mokirey Aya Ltd
MTI was informed on 10 December 2024
that Mokirey Aya Ltd, a company controlled by members of the
Borovitz family (including Zvi Borovitz, Chairman of the Board of
Directors and Moni Borovitz, Director and Chief Executive Officer
of the Company), purchased 350,000 ordinary shares of par value
0.01 Israeli Shekels each in the capital of the Company ("Ordinary
Shares") on 10 December 2024 at a price of 43 pence per Ordinary
Share. Pursuant to UK MAR (as defined below) Mokirey Aya Ltd
is a person closely associated with MTI's Non-Executive Chairman,
Zvi Borovitz and Chief Executive Officer, Moni
Borovitz.
Following this share purchase,
Mokirey Aya Ltd has an interest in 27,020,895 Ordinary Shares,
equivalent to 31.35% of the voting rights in the Company (as
detailed below). Separately, Zvi Borovitz and Moni Borovitz
are beneficially interested in 1,146,429 and 371,254 Ordinary
Shares respectively and these holdings remain unchanged,
representing 1.33% and 0.43% of the voting rights in the Company
(as detailed below) respectively.
Share purchase by Jacques and Rina Beer (the "Beer
Family")
MTI was informed on 10 December 2024
that the Beer Family purchased 450,000 Ordinary Shares at a price
of 43 pence per Ordinary Share on 10 December 2024.
Following this share purchase, the
Beer Family has an interest in 9,647,042 Ordinary Shares,
equivalent to 11.19% of the voting rights in the Company (as
detailed below).
Transaction in own shares and total voting
rights
MTI further announces that, in
accordance with the Company's Share Repurchase Programme, 100,000
Ordinary Shares were purchased by the Company on 10 December 2024,
at a price of 43 pence per Ordinary share. Following this
transaction, as at today's date, the Company holds 2,343,000
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
86,195,724, 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 retained in UK law (UK MAR), the
schedule appended further below contains detailed information about
the purchase of Ordinary Shares made by Shore Capital Stockbrokers
Limited on behalf of the Company as part of the Share Repurchase
Programme.
The FCA notification, made in
accordance with the requirements of UK MAR, is appended further
below and give further details regarding the purchase of Ordinary
Shares by persons closely associated with PDMRs.
For further
information please contact:
|
MTI Wireless
Edge Ltd
|
+972 3 900 8900
|
|
Moni Borovitz, CEO
|
http://www.mtiwirelessedge.com
|
|
|
|
|
Allenby Capital
Limited (Nomad and Joint Broker)
|
+44 20 3328 5656
|
|
Nick Naylor/Alex Brearley/Piers Shimwell
(Corporate Finance)
|
|
|
Guy McDougall/Amrit Nahal (Sales and Corporate
Broking)
|
|
|
|
|
|
Shore
Capital (Joint Broker)
Toby Gibbs/ Rachel Goldstein (Corporate
Advisory)
Fiona Conroy (Corporate Broking)
|
+44 20 7408 4090
|
|
Novella (Financial
PR)
|
|
|
Tim Robertson/Safia Colebrook
|
+44 20 3151 7008
|
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 internationally recognised as
a producer of commercial off-the-Shelf and custom-developed antenna
solutions in a broad frequency range of HF to 170 GHz for
commercial, RFID and military applications. MTI continuously
invests in ground breaking technologies, explores new frequencies,
and devises innovative solutions which empower our wireless
communication customers with cutting-edge off-the-shelf and
custom-made antennas.
We are at the forefront of
technology and innovation, being the first to introduce Dual Band
parabolic antennas, E Band Automatic Beam Steering antennas, E Band
FCC compliant flat antennas, and more.
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,
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.
Information about the purchase made by Shore Capital
Stockbrokers Limited on behalf of the Company as part of the Share
Repurchase Programme.
Schedule of Purchases
|
Shares
purchased:
|
MTI Wireless Edge Ltd (ISIN:
IL0010958762)
|
|
Date of
purchase:
|
10 December 2024
|
|
Investment
firm:
|
Shore Capital Stockbrokers Limited
|
Aggregate information:
|
Venue
|
Volume-weighted
average price, pence
|
Aggregated
volume
|
|
London Stock Exchange
|
43 pence
|
100,000
|
Individual
transaction:
|
Number of
Ordinary Shares purchased
|
Transaction
price
(pence per Ordinary Share)
|
Time of
transaction
|
Trading
venue
|
|
100,000
|
43 pence
|
12:56
|
London Stock Exchange
|
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
|
Mokirey Aya Ltd
|
|
2
|
Reason for the
notification
|
|
a)
|
Position/status
|
Mokirey Aya Ltd is a person closely
associated with MTI Wireless Edge Ltd's Non Executive Chairman, Zvi
Borovitz and MTI Wireless Edge Ltd's Chief Executive Officer, 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)
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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
|
Purchase of Ordinary
Shares
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
43 pence per Ordinary
Share
|
350,000 Ordinary
Shares
|
|
|
d)
|
Aggregated information
|
|
|
|
- Aggregated volume
|
N/A
|
|
|
- Price
|
N/A
|
|
e)
|
Date of the transaction
|
10 December
2024
|
|
f)
|
Place of the transaction
|
London Stock Exchange
|