23rd Dec 2009 12:17
TELIT COMMUNICATIONS PLC
("Telit" or the "Company")
Result of General Meeting
Telit Communications plc (AIM: TCM), a global leader in machine-to-machine (M2M) communications, is pleased to announce that, at the General Meeting held earlier today, all resolutions to approve the placing of 26,500,000 new ordinary shares of 1 penny each were duly passed by shareholders. The placing shares have been allotted and dealings are expected to commence in these new shares on AIM on 24 December 2009.
Boostt B.V. ("Boostt"), which is controlled in equal parts by Wireless Solutions Management S.L. ("WSM") and its corporate parent Techvisory S.L. ("Techvisory") and by Oozi Cats, a director of the Company and its CEO, is, following the placing, interested in 15,600,000 Ordinary Shares representing 21.5 per cent. of the enlarged share capital; Oozi Cats holds 3,110,357 Ordinary Shares; Techvisory and WSM hold an additional 1,250,000 Ordinary Shares and Massimo Testa, a director of Telit and an interested party in Techvisory, holds 323,000 Ordinary Shares.
As previously disclosed, the Company considers Oozi Cats, Enrico Testa and Massimo Testa, who are interested parties in Boostt and its corporate parents, to be interested in the aggregate holdings, which amount to 20,283,357 shares, being 27.97 per cent. of the Company's enlarged issued share capital.
The Company has been informed that, following participation in the placing, Algebris Global Financials Master Fund is interested in 14,812,500 ordinary shares representing 20.43 per cent. of the enlarged issued share capital.
The Company has also been informed that, following participation in the placing, Gartmore Investment Management is interested in 4,411,304 ordinary shares representing 6.08 per cent. of the enlarged issued share capital.
The Company has also been informed that, following participation in the placing, Rathbone Investment Management is interested in 3,900,000 ordinary shares representing 5.38 per cent. of the enlarged issued share capital.
The Company has also been informed that, following participation in the placing, Herald Investment Trust Plc is, interested in 3,750,000 ordinary shares representing 5.17 per cent. of the Company's enlarged issued share capital.
For the purposes of the Disclosure and Transparency Rules, the Company's total issued share capital following the admission of the placing shares consists of 72,514,281 ordinary shares of 1 penny each with one voting right per share. There are no shares held in treasury.
The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the Disclosure and Transparency Rules.
For further information please visit www.telit.com or contact:
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Telit Communications Plc |
Tel: +972 3791 4040 |
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Michael Galai, Finance Director |
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Astaire Securities Plc, Nomad & Broker |
Tel: +44 20 7448 4400 |
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Stuart Lane / Sebastian Wykeham |
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Related Shares:
TCM.L