10th Jul 2007 11:15
Telit Communications PLC10 July 2007 Telit Communications PLC (the "Company" or "Telit") Holding(s) in Company The Company was informed that Polar Investments Limited ("Polar") has sold1,000,000 ordinary shares of 1p each in the Company ("Ordinary Shares") to FBNet Holding B.V. ("FB Net"). Following this disposal, Polar holds 9,808,892ordinary shares in the Company, representing 22.70 percent of the issued sharecapital and total voting rights. The transfer of the 1,000,000 Ordinary Sharesis expected to close on or about 12 July 2007. FB Net has informed the Company that 1) it effectively controls Franco Bernabe &T SL ("FBT") that holds 50% of the issued and outstanding share capital ofBoostt B.V. ("Boostt"), which in turn holds 27.77% of the Ordinary Shares; and2) Mr. Oozi Cats, as a holder of approximately 6.48% in the Company and FBT havesubscribed to certain voting understandings. Therefore, FB Net are interested inthe 27.77% held by Boostt, the 6.48% held by Mr. Oozi Cats, as well as the 2.31%to be acquired from Polar, bringing the total percentage of Ordinary Shares FBNet is interested in to 35.56%. ENDS Contacts: Telit Communications PLC Tel: 00 972 3 791 40 40 Oozi Cats, Chief Executive [email protected] Lustig, Vice President, Investor www.telit.comRelations Seymour Pierce Limited Tel: +44 (0) 20 7107 8000 Stuart Lane, Corporate Finance www.seymourpierce.com Media enquiries: Tel: +44 (0) 20 7398 7700 Abchurch [email protected] Lane / Joanne Shears www.abchurch-group.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
TCM.L