Cancellation of Share Premium

Telit Communications PLC

("Telit" or "the Company")

Cancellation of Share Premium

Telit Communications PLC (AIM: TCM), a global enabler of the Internet of the Things (IoT), announces that further to the passing by its shareholders of the relevant resolution at the Company's last annual general meeting, held on 26 June 2015, the High Court of Justice in England and Wales yesterday made an order (the "Order") confirming the cancellation of substantially all of the Company's share premium account (the "Reduction") and subsequently increasing the retained earnings. The Reduction became effective on 7 October 2015 following the registration of the Order with the Registrar of Companies.

Subject to the terms of the Order, the Company expects that distributable reserves on its solo balance sheet will be approximately $73 million in due course.

As the performance of the Company continues to improve this action will allow the Company to pay dividends when and if the board decide it is appropriate.

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