Update on sale of automotive division

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

Telit Communications PLC

Update on sale of automotive division - TUS publishes circular

London, 27 December 2018 -Telit Communications PLC ("Telit", "the Group", AIM: TCM), a global enabler of the Internet of Things (IoT), confirms that TUS International Limited ("TUS") has published its shareholder circular with respect to the purchase of Telit's automotive division, in accordance with previous announcements.

The timetable for the transaction therefore remains that TUS shareholder approval is expected to be obtained on 29 January 2019 and the transaction to complete by 31 January 2019. The internal reorganisation of Telit's automotive division, on which the sale is also conditional, is substantially complete and will be finished before the completion date.

The circular can be found in the following link:

http://www3.hkexnews.hk/listedco/listconews/sehk/2018/1226/LTN20181226071.PDF 

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About Telit

Telit (AIM: TCM), 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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