1st Nov 2018 13:36
LONDON (Alliance News) - Israel-based MTI Wireless Edge Ltd said Thursday that Non-Executive Director Zvi Kanor has resigned from the radio frequency technology firm with effect from Wednesday.
Kanor - non-executive since 2013 - stood down in order to "pursue other business opportunities", MTI explained.
MTI is required under Israeli law to appoint a replacement before its next annual general meeting. The firm will make an announcement in "due course".
"I would like to thank Zvi for his contribution to the company over the years and to wish him well in his future endeavors," MTI Chairman Zvi Borovitz said. "We have commenced discussions with a replacement non-executive director who has expertise in our industry and who, we believe, will add significant value to our enlarged post-merger company. We will update shareholders in the near future".
Shares in MTI were 3.2% lower at 18.20 pence on Thursday.
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