TIDMMWE
RNS Number : 8102Y
MTI Wireless Edge Limited
05 January 2024
5 January 2024
MTI Wireless Edge Ltd
("MTI" or the "Company")
Result of EGM
Grant of share options
Result of EGM
MTI Wireless Edge Ltd. (AIM: MWE), the technology group focused
on comprehensive communication and radio frequency solutions across
multiple sectors, announces that both resolutions put to
shareholders at the Company's Extraordinary General Meeting held
earlier today have been passed.
The proxy votes received from shareholders on each resolution
are set out below.
Resolutions Votes for % Votes % Votes total Votes
against withheld
Resolution
1 31,580,561 98.31% 542,408 1.69% 32,122,969 59,728
----------- ------- --------- ------ ------------ ----------
Resolution
2 31,580,561 98.31% 542,408 1.69% 32,122,969 59,728
----------- ------- --------- ------ ------------ ----------
Votes "For" include votes giving the Chairman discretion.
A vote "withheld" is not counted towards the votes cast "for" or
"against" a resolution or the associated percentage
calculations.
The 31,580,561 votes for the resolutions include 24,666,862
votes cast by Mokirey Aya Ltd. Mokirey Aya Ltd is a company
controlled by members of the Borovitz family (including Zvi
Borovitz, Chairman and Moni Borovitz, director and Chief Executive
Officer of the Company). Both resolutions were passed pursuant to
the voting requirements under Israeli Companies Law 1999, as set
out in the Company's announcement on 20 November 2023.
Grant of share options
Further to the Company's announcement of 20 November 2023,
following the passing of the resolutions, 600,000 share options
have been granted to Mr. Moshe (Moni) Borovitz, the Company's Chief
Executive Officer and 100,000 share options have been granted to
Mr. Dov Feiner, the General Manager of the Company's Antenna
division.
These grants of share options were made under the option plan
for the Company's employees (the "Option Plan"), with the following
terms:
1. each option can be exercised into one ordinary share of the
Company at a price of 40 pence; and
2. the vesting of the options will be: 50% after two years; 25%
after three years; and 25% after four years, with expiration of the
options being six years after issue.
The FCA notifications, made in accordance with the requirements
of the UK Market Abuse Regulation are appended below.
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)
Nick Naylor/Alex Brearley/Piers Shimwell
(Corporate Finance)
Guy McDougall/Amrit Nahal (Sales and
Corporate Broking) +44 20 3328 5656
Shore Capital (Joint Broker)
Toby Gibbs/Rachel Goldstein (Corporate
Advisory) +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 recognized 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.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Moshe (Moni) Borovitz
--------------------- ---------------------------------------------
Reason for the notification
2
--------------------------------------------------------------------
a) Position/status Chief Executive Officer
--------------------- ---------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------- ---------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
--------------------------------------------------------------------
a) Name MTI Wireless Edge Ltd
--------------------- ---------------------------------------------
b) LEI 2138003Y3AHVBB1QCY91
--------------------- ---------------------------------------------
Details of the transaction(s): section to be repeated
4 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 Grant of options over ordinary shares of
of the financial 0.01 Israeli shekels each
instrument,
type of instrument
Identification Identification code (ISIN) for MTI Wireless
code Edge Ltd's ordinary shares: IL0010958762
--------------------- ---------------------------------------------
b) Nature of the Grant of Share Options
transaction
--------------------- ---------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) Exercise price
of 40 pence
per share 600,000
----------
--------------------- ---------------------------------------------
d) Aggregated N/A
information
- Aggregated
volume
- Price
--------------------- ---------------------------------------------
e) Date of the 5 January 2024
transaction
--------------------- ---------------------------------------------
f) Place of the Outside a Trading Venue
transaction
--------------------- ---------------------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Dov Feiner
--------------------- ---------------------------------------------
Reason for the notification
2
--------------------------------------------------------------------
a) Position/status General Manager of the Company's Antenna
division
--------------------- ---------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------- ---------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
--------------------------------------------------------------------
a) Name MTI Wireless Edge Ltd
--------------------- ---------------------------------------------
b) LEI 2138003Y3AHVBB1QCY91
--------------------- ---------------------------------------------
Details of the transaction(s): section to be repeated
4 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 Grant of options over ordinary shares of
of the financial 0.01 Israeli shekels each
instrument,
type of instrument
Identification Identification code (ISIN) for MTI Wireless
code Edge Ltd's ordinary shares: IL0010958762
--------------------- ---------------------------------------------
b) Nature of the Grant of Share Options
transaction
--------------------- ---------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) Exercise price
of 40 pence
per share 100,000
----------
--------------------- ---------------------------------------------
d) Aggregated N/A
information
- Aggregated
volume
- Price
--------------------- ---------------------------------------------
e) Date of the 5 January 2024
transaction
--------------------- ---------------------------------------------
f) Place of the Outside a Trading Venue
transaction
--------------------- ---------------------------------------------
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END
ROMKZGGMGKMGDZM
(END) Dow Jones Newswires
January 05, 2024 05:52 ET (10:52 GMT)
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