Placing of New Shares raising GBP 39 million

5 May 2017

Telit Communications PLC

Placing of New Shares raising GBP 39 million

Telit Communications PLC ("Telit" or the "Company"), a global enabler of the Internet of Things (IoT), today announces that further to the announcement on 4 May 2017 regarding the proposed placing of ordinary shares, it has successfully placed 11,593,000 ordinary shares in the Company (the "New Shares"), at a price of 340 pence per share raising approximately GBP 39 million (USD 51 million) (the "Placing").

The proceeds from the Placing will be used to fund several identified acquisition opportunities, mainly in the IoT Services sector, which the Company will look to execute in the near to medium term.

The New Shares represent 10.0% of Telit's existing outstanding issued share capital. Application for admission of the New Shares to trading on AIM will be made in due course and the New Shares are expected to commence trading on 10 May 2017 ("Admission").  The Placing is expected to settle on 10 May 2017, subject to Admission. Following completion of the transaction the Company has agreed to a lock-up of 180 days.

Joh. Berenberg, Gossler & Co KG ("Berenberg") and Canaccord Genuity Limited ("Canaccord Genuity") acted as Joint Bookrunners in relation to the Placing.

Oozi Cats, Group Chief Executive, said:

"These additional funds will provide us with further resources to continue to make complementary acquisitions - particularly to support the rapid growth of our IoT Services division.

"Our IoT Services division is continuing to develop swiftly and we are extremely encouraged by the broad industry recognition we are receiving from leaders in the Industrial IoT market and many enterprises that are looking for IoT solutions."

This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 ("MAR"). Upon the publication of this announcement, this inside information is now considered to be in the public domain.

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About Telit

Telit (TCM.L), is a global leader in Internet of Things (IoT) enablement. The company offers the industry's broadest portfolio of integrated products and services for end-to-end IoT deployments - including cellular communication modules in all technologies, GNSS, Wi-Fi, short-to-long range wireless modules, IoT connectivity plans and IoT platform services. Through the IoT Portal, Telit makes IoT onboarding easy, reduces risk, time to market, complexity and costs for asset tracking, remote monitoring and control, telematics, industrial automation and others, across many industries and vertical markets worldwide.

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