Result of EGM and Grant of Share Options
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Result of EGM
Grant of share options
Result of EGM
MTI Wireless Edge Ltd. (AIM: MWE), the technology group focused on comprehensive communication and radio frequency solutions across multiple sectors, announces that both resolutions put to shareholders at the Company's Extraordinary General Meeting held earlier today have been passed.
The proxy votes received from shareholders on each resolution are set out below.
| Resolutions | Votes for | % | Votes against | % | Votes total | Votes withheld |
|---|---|---|---|---|---|---|
| Resolution 1 | 31,580,561 | 98.31% | 542,408 | 1.69% | 32,122,969 | 59,728 |
| Resolution 2 | 31,580,561 | 98.31% | 542,408 | 1.69% | 32,122,969 | 59,728 |
Votes "For" include votes giving the Chairman discretion.
The 31,580,561 votes for the resolutions include 24,666,862 votes cast by Mokirey Aya Ltd. Mokirey Aya Ltd is a company controlled by members of the Borovitz family (including Zvi Borovitz, Chairman and Moni Borovitz, director and Chief Executive Officer of the Company). Both resolutions were passed pursuant to the voting requirements under Israeli Companies Law 1999, as set out in the Company's announcement on 20 November 2023.
Grant of share options
Further to the Company's announcement of 20 November 2023, following the passing of the resolutions, 600,000 share options have been granted to Mr. Moshe (Moni) Borovitz, the Company's Chief Executive Officer and 100,000 share options have been granted to Mr. Dov Feiner, the General Manager of the Company's Antenna division.
These grants of share options were made under the option plan for the Company's employees (the "Option Plan"), with the following terms:
- each option can be exercised into one ordinary share of the Company at a price of 40 pence; and
- the vesting of the options will be: 50% after two years; 25% after three years; and 25% after four years, with expiration of the options being six years after issue.
The FCA notifications, made in accordance with the requirements of the UK Market Abuse Regulation are appended below.
Antenna division
Water Control & Management division
Distribution & Professional Consulting Services division
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Moshe (Moni) Borovitz |
| 2 | Reason for the notification | |
| a) | Position/status | Chief Executive Officer |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | MTI Wireless Edge Ltd |
| b) | LEI | 2138003Y3AHVBB1QCY91 |
| a) | Description of the financial instrument, type of instrument Identification code | Grant of options over ordinary shares of 0.01 Israeli shekels each Identification code (ISIN) for MTI Wireless Edge Ltd's ordinary shares: IL0010958762 |
| b) | Nature of the transaction | Grant of Share Options |
| c) | Price(s) and volume(s) | Price(s) Volume(s) Exercise price of 40 pence per share 600,000 |
| d) | Aggregated information - Aggregated volume - Price | N/A |
| e) | Date of the transaction | 5 January 2024 |
| f) | Place of the transaction | Outside a Trading Venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Dov Feiner |
| 2 | Reason for the notification | |
| a) | Position/status | General Manager of the Company's Antenna division |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | MTI Wireless Edge Ltd |
| b) | LEI | 2138003Y3AHVBB1QCY91 |
| a) | Description of the financial instrument, type of instrument Identification code | Grant of options over ordinary shares of 0.01 Israeli shekels each Identification code (ISIN) for MTI Wireless Edge Ltd's ordinary shares: IL0010958762 |
| b) | Nature of the transaction | Grant of Share Options |
| c) | Price(s) and volume(s) | Price(s) Volume(s) Exercise price of 40 pence per share 100,000 |
| d) | Aggregated information - Aggregated volume - Price | N/A |
| e) | Date of the transaction | 5 January 2024 |
| f) | Place of the transaction | Outside a Trading Venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.