3rd Jul 2017 14:51
3 July 2017
Telit Communications PLC
Director's Dealing
Telit Communications PLC ("Telit", "the Company", AIM: TCM), announces that Mr. Enrico (Chicco) Testa, the chairman of the Company's board of directors, exercised 520,000 options over ordinary shares of the Company and retained the resulting 385,646 shares. The exercise price of the options, which were granted in 2011, was 81p and they were exercised in a cashless manner, based on the closing price of the shares on the date Mr. Testa provided the Company with the exercise notice (29 June 2017).
Following the transaction, Mr. Testa holds 1,441,146 shares, representing 1.1% of the issued share capital of the Company.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
1. | Details of PDMR / person closely associated with them ("PCA") | |||||
a) | Name | Enrico (Chicco) Testa | ||||
2. | Reason for the notification | |||||
a) | Position / status | Chairman of the board
| ||||
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) | Legal Entity Identifier | n/a | ||||
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 | Options over ordinary shares | ||||
b) | Nature of the transaction | Cashless exercise of options | ||||
c) | Price(s) and volume(s) |
The options were exercised on a cashless basis. Actual number of resulting shares, which were retained by Mr. Testa, was 385,646. | ||||
d) | Aggregated information - Aggregated volume - Aggregated price - Aggregated total |
N/A - single transaction | ||||
e) | Date of the transaction | 3 July 2017 (UK) | ||||
f) | Place of the transaction | Outside a trading venue | ||||
For further information:
Telit Communications PLC | Tel: +39 06 4204601 |
Yosi Fait, Finance Director & President |
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Canaccord Genuity Limited (Nominated Adviser) | Tel: +44 20 7523 8000 |
Simon Bridges/ Martin Davison |
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Instinctif Partners | Tel: +44 20 7457 2020 |
Adrian Duffield/Chantal Woolcock |
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Berenberg (Joint Broker) | Tel: +44 20 3465 2722 |
Chris Bowman/Ben Wright |
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Related Shares:
TCM.L