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RNS Number : 9946G
Telit Communications PLC
12 August 2016
 

12 August 2016

 

Telit Communications PLC

 

Director's Dealing

 

Telit Communications PLC ("Telit", "the Company", AIM: TCM), announces that Mr. Yosi Fait, the Company's President and Finance Director, exercised options over ordinary shares of the Company and sold the resulting 632,998 shares, at a weighted average price of 267.55 pence per share, as further detailed in the form below.

 

Following the transaction, Mr. Fait holds 1,500,000 options over the Company's shares and owns or is directly interested in 315,000 Ordinary Shares, representing 0.27% 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

Yosi Fait

2.

Reason for the notification

a)

Position / status

Finance Director, President

 

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)

Price(s)

Volume(s)

Exercise price: 80 pence

900,000 options

 

The options were exercised on a cashless basis. Actual number of resulting shares, which were subsequently and immediately sold, was 632,998.

d)

Aggregated information

-     Aggregated volume

-     Aggregated price

-     Aggregated total

 

N/A - single transaction

e)

Date of the transaction

10 August 2016 (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

Sale of Ordinary Shares

c)

Price(s) and volume(s)

Price(s)

Volume(s)

265.0089 pence

210,227

265.0703 pence

140,152

d)

Aggregated information

-     Aggregated volume

-     Aggregated price

-     Aggregated total

Weighted average price

Aggregated volume

Aggregated total


265.0335 pence

350,379

£928,621.59


e)

Date of the transaction

9 August 2016 (UK)

f)

Place of the transaction

London Stock Exchange, AIM

6.

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

Sale of Ordinary Shares

c)

Price(s) and volume(s)

Price(s)

Volume(s)

272.5404 pence

29,648

270.4464 pence

252,971

d)

Aggregated information

-     Aggregated volume

-     Aggregated price

-     Aggregated total

Weighted average price

Aggregated volume

Aggregated total

270.6661 pence

282,619

£764,953.74

e)

Date of the transaction

10 August 2016 (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






Canaccord Genuity Limited (Nominated Adviser)

Tel: +44 20 7523 8000



Simon Bridges/ Cameron Duncan




Instinctif Partners

Tel: +44 20 7457 2020

Adrian Duffield/Chantal Woolcock




Berenberg (Joint Broker)

Tel: +44 20 3465 2722

Chris Bowman/Ben Wright




Instinctif Partners


Adrian Duffield/Chantal Woolcock

Tel: +44 20 7457 2020

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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