16th Jul 2018 09:23
16 July 2018
Telit Communications PLC
Grant of Options
Telit Communications PLC ("Telit", "the Group", AIM: TCM), a global enabler of the Internet of Things (IoT), announces that the Remuneration Committee of the Board has today awarded a total of 4,785,000 options ("Options") over ordinary shares of 1p in the Company ("Ordinary Shares") to certain board directors, senior management and employees of the Company to incentivise and retain these key individuals over the longer term.
Of the total award, Yosi Fait (CEO) and Yariv Dafna (Finance Director) have each received 2,000,000 and 300,000 Options respectively. Awards to senior management include Yossi Moscovitz (President Products & Solutions), Eran Edri (CFO), Michael Galai (CLO) and Carlos Perez (President Sales), each with 300,000, 250,000, 250,000 and 180,000 Options respectively. The Options have an exercise price of 171p per share (being the higher of the closing mid-market price on 13 July 2018 and the trailing 30 day closing mid-market price average).
The options vest in four equal tranches of 25% each, on the 1st to 4th anniversaries of the grant date. unexercised options expire on the 5th anniversary of the grant date.
The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.
Enquiries
Telit Communications PLC Yosi Fait, Chief Executive Officer Yariv Dafna, Finance Director | Tel: +44 203 289 3831 |
finnCap (Nomad and joint broker) Henrik Persson/Giles Rolls (corporate finance) Tim Redfern/Richard Chambers (corporate broking) | Tel: +44 20 7220 0500 |
Berenberg (Joint Broker) Chris Bowman/Mark Whitmore/Ben Wright | Tel: +44 20 3465 2722 |
Instinctif Partners | Tel: +44 20 7457 2020 |
Adrian Duffield/Chantal Woolcock |
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Yosi Fait | ||||
2. | Reason for the Notification | |||||
a) | Position/status | Chief Executive Officer | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Telit Communications Plc | ||||
b) | LEI | 213800FR4VJWKM1Z3836 | ||||
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 | Ordinary Shares of 1 pence each | ||||
Identification code | GB00B06GM726 | |||||
b) | Nature of the transaction | Grant of Options | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information: · Aggregated volume · Price |
See above | ||||
e) | Date of the transaction | 16 July 2018 | ||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Yariv Dafna | ||||
2. | Reason for the Notification | |||||
a) | Position/status | Finance Director | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Telit Communications Plc | ||||
b) | LEI | 213800FR4VJWKM1Z3836 | ||||
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 | Ordinary Shares of 1 pence each | ||||
Identification code | GB00B06GM726 | |||||
b) | Nature of the transaction | Grant of Options | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information: · Aggregated volume · Price |
See above | ||||
e) | Date of the transaction | 16 July 2018 | ||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||
5. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Yossi Moscovitz | ||||
6. | Reason for the Notification | |||||
a) | Position/status | PDMR | ||||
b) | Initial notification/Amendment | Initial notification | ||||
7. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Telit Communications Plc | ||||
b) | LEI | 213800FR4VJWKM1Z3836 | ||||
8. | 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 | Ordinary Shares of 1 pence each | ||||
Identification code | GB00B06GM726 | |||||
b) | Nature of the transaction | Grant of Options | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information: · Aggregated volume · Price |
See above | ||||
e) | Date of the transaction | 16 July 2018 | ||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Eran Edri | ||||
2. | Reason for the Notification | |||||
a) | Position/status | PDMR | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Telit Communications Plc | ||||
b) | LEI | 213800FR4VJWKM1Z3836 | ||||
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 | Ordinary Shares of 1 pence each | ||||
Identification code | GB00B06GM726 | |||||
b) | Nature of the transaction | Grant of Options | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information: · Aggregated volume · Price |
See above | ||||
e) | Date of the transaction | 16 July 2018 | ||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Michael Galai | ||||
2. | Reason for the Notification | |||||
a) | Position/status | PDMR | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Telit Communications Plc | ||||
b) | LEI | 213800FR4VJWKM1Z3836 | ||||
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 | Ordinary Shares of 1 pence each | ||||
Identification code | GB00B06GM726 | |||||
b) | Nature of the transaction | Grant of Options | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information: · Aggregated volume · Price |
See above | ||||
e) | Date of the transaction | 16 July 2018 | ||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||
5. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Carlos Perez | ||||
6. | Reason for the Notification | |||||
a) | Position/status | PDMR | ||||
b) | Initial notification/Amendment | Initial notification | ||||
7. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Telit Communications Plc | ||||
b) | LEI | 213800FR4VJWKM1Z3836 | ||||
8. | 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 | Ordinary Shares of 1 pence each | ||||
Identification code | GB00B06GM726 | |||||
b) | Nature of the transaction | Grant of Options | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information: · Aggregated volume · Price |
See above | ||||
e) | Date of the transaction | 16 July 2018 | ||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||
Related Shares:
TCM.L