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Director's Dealing

14th Jan 2014 07:00

RNS Number : 5585X
Telit Communications PLC
14 January 2014
 

TELIT COMMUNICATIONS PLC

("Telit" or the "Company")

 

Director's Dealing

 

The Company announces that Mr. Oozi Cats, its CEO and executive director, has increased his holding in the Company by 3,100,000 Ordinary Shares of 1 pence each, as a result of the exercise of 2,000,000 options at an exercise price of 20 pence and 1,100,000 options at an exercise price of 32 pence, both under the Company's share option plan. Mr. Cats does not intend to sell the resulting shares at this time.

 

For further information:

Telit Communications PLC

Tel: +39 06 4204601

Oozi Cats, CEO

Yosi Fait, Finance Director

Canaccord Genuity Limited

Nominated Adviser

Simon Bridges

Peter Stewart

Tel: +44 20 7523 8000

Notes to editors

Telit is a global leader of machine-to-machine (M2M) communications providing wireless module technology via its brand Telit Wireless Solutions, enhanced by managed and value added services, including connectivity via its business unit m2mAIR. Telit is dedicated to M2M communications for over 12 years and constantly advancing technological leadership from 6 R&D centers around the globe. Telit offers an extensive portfolio of quality cellular, short-range, and GNSS modules. By supplying business scalable products interchangeable across families, technologies, and generations, Telit is able to keep development costs low and uniquely protect customers' design investments.

 

Value added services from m2mAIR combine solutions for module, SIM, and subscription management with M2M connectivity, delivering business value through enhanced network performance, cost control, security, troubleshooting and a ready-to-use, off-the-shelf, cloud platform to connect enterprise IT systems to m2m-connected devices and machines for business-critical use. Addressing the critical element of cost-control in M2M integrations, m2mAIR offers an innovative business approach which transforms cost of connectivity into a bill-of-material (BOM) component.

 

Telit sells its products through a network of 32 sales offices and 60 distributors to more than 5,000 customers in 80 countries around the world. 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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