3rd Jul 2017 14:47
3 July 2017
Telit Communications PLC
Director's Dealing
Telit Communications PLC ("Telit", "the Company", AIM: TCM), announces that Mr. Oozi Cats, the Company's Chief Executive, exercised 1,952,000 options over ordinary shares of the Company and retained the resulting 1,447,656 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. Cats provided the Company with the exercise notice (29 June 2017). In addition, Mr. Cats acquired 75,215 shares on 29 June 2017, at a price of 312.39 pence per share. See further details in the form below.
Following the transaction, Mr. Cats holds 16,333,470 shares, representing 12.6% 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 | Oozi Cats | ||||
2. | Reason for the notification | |||||
a) | Position / status | Chief Executive; director
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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. Cats, was 1,447,656. | ||||
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 | ||||
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 | Purchase of Ordinary Shares | ||||
c) | Price(s) and volume(s) |
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d) | Aggregated information - Aggregated volume - Aggregated price - Aggregated total |
N/A - single transaction | ||||
e) | Date of the transaction | 29 June 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 |
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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