4th Jul 2017 15:25
4 July 2017
Telit Communications PLC
Director's Dealing
Telit Communications PLC ("Telit", "the Company", AIM: TCM), announces that Mr. Yosi Fait, the Company's President and Finance Director, exercised 500,000 options over ordinary shares of the Company, with an exercise price of 206p, in a cashless manner.
Mr. Fait sold the resulting 173,567 shares and an additional 315,000 ordinary shares - 488,567 ordinary shares in the aggregate - at a weighted average price of 310 pence per share, as further detailed in the form below.
Following the transaction, Mr. Fait holds 1,000,000 options over the Company's shares.
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 | Yosi Fait | ||||||||||||
2. | Reason for the notification | |||||||||||||
a) | Position / status | Finance Director, President
| ||||||||||||
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 subsequently and immediately sold, was 173,567. | ||||||||||||
d) | Aggregated information - Aggregated volume - Aggregated price - Aggregated total |
N/A - single transaction | ||||||||||||
e) | Date of the transaction | 28 June 2017 (UK) | ||||||||||||
f) | Place of the transaction | Outside a trading venue | ||||||||||||
5. | 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 Identification code | Ordinary shares of 1 pence each ("Ordinary Shares")
ISIN number GB00B06GM726 | ||||||||||||
b) | Nature of the transaction | Sale of Ordinary Shares | ||||||||||||
c) | Price(s) and volume(s) |
| ||||||||||||
d) | Aggregated information - Aggregated volume - Aggregated price - Aggregated total |
| ||||||||||||
e) | Date of the transaction | 28 June 2017 (UK) | ||||||||||||
f) | Place of the transaction | London Stock Exchange, AIM | ||||||||||||
6. | 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 Identification code | Ordinary shares of 1 pence each ("Ordinary Shares")
ISIN number GB00B06GM726 | ||||||||||||
b) | Nature of the transaction | Sale of Ordinary Shares | ||||||||||||
c) | Price(s) and volume(s) |
| ||||||||||||
d) | Aggregated information - Aggregated volume - Aggregated price - Aggregated total |
| ||||||||||||
e) | Date of the transaction | 3 July 2017 (UK) | ||||||||||||
f) | Place of the transaction | London Stock Exchange, AIM | ||||||||||||
For further information:
Telit Communications PLC | Tel: +39 06 4204601 |
Yosi Fait, Finance Director & President | |
Canaccord Genuity Limited (Nominated Adviser) | Tel: +44 20 7523 8000 |
Simon Bridges/Martin Davison | |
Berenberg (Joint Broker) | Tel: +44 20 3465 2722 |
Chris Bowman/Ben Wright | |
Instinctif Partners | |
Adrian Duffield/Chantal Woolcock | Tel: +44 20 7457 2020 |
Related Shares:
TCM.L