Business
Admission to AIM
Admission to AIM.
About this update from Mti Wireless Edge Ltd
[{"type":"text","content":"\n \n MTI WIRELESS EDGE LTD. \n\n ADMISSION TO AIM \n\nMTI Wireless Edge Ltd. ('MTI' or 'the Company'), a market leader in the\nmanufacture of flat panel antennas for fixed wireless broadband, is pleased to\nannounce that today its shares started to trade on AIM with the ticker 'MWE'.\n\nThe Company designs and manufactures flat panel antennas, largely supplied to\nthe global original equipment manufacturers ('OEMs') of fixed broadband\nwireless access systems. These products, originally designed to cope with\nrequirements of the company's first customers, the military forces, are robust\nand high performance. With over 35 years of technical `know-how', flexible high\nvolume manufacturing capabilities and low failure rates, MTI's antennas now\ncomprise approximately 25% of the global fixed broadband wireless access\nantenna market.\n\nThe Company's nominated advisor and broker, Corporate Synergy Plc, placed\napproximately 15.4 million new Ordinary Shares at 39 pence per share and the\nissue was well supported by investors in the UK, France and Israel. The new\nshares represent 28.61% of the share capital of the Company. In addition MTI's\nparent company, Tel Aviv listed MTI Computers and Software Services (1982)\nLtd., sold approximately 2.6 million ordinary shares.\n\nThe placement and sale raised a total of £7 million, representing £6 million (£\n5.05 million net) new money to MTI and £1 million to its parent company. At the\nplacing price MTI had a market capitalisation of approximately £21 million and\na free float at admission of 33%.\n\nMTI CEO Dov Feiner, commented, 'Our IPO today gives us the resources to\nstrengthen our relationships with our international customer base. The world is\ngoing wireless and all wireless systems rely on quality antennas to perform. In\nthis fast growing environment we need to protect our share of the fixed\nwireless broadband antenna market as well as apply our technology to new\nareas.'\n\nFor further information please contact:\n\nMoni Borovitz, Finance Director, MTI Wireless Edge Ltd. tel: +972 (0)3 900 8900\n\nDavid Seal / Luke Ahern, Corporate Synergy Plc tel: +44 (0)20 7448 4400\n\nRob Newman, Shared Value tel: +44 (0)20 7321 5029\n\nNOTES TO EDITORS:\n\nMTI is a developer and manufacturer of sophisticated antennas and antenna\nsystems, including antennas that are sold for use in ...