Business
Notice of AGM
Notice of AGM.
About this update from Mti Wireless Edge Ltd
[{"type":"text","content":"\n \nRNS Number : 7436E MTI Wireless Edge Limited 13 April 2011 \n \n\nMTI Wireless Edge Limited\n13 April, 2011\n \nMTI WIRELESS EDGE LTD\nACCOUNTS AND AGM NOTICE POSTED\n \n \nFollowing the announcement on 14 March 2011 of the Company's results for the year ended 31 December 2010, the Company's Audited Report and Accounts is being posted today to shareholders, together with a Notice of Annual General Meeting to be held at 10.00 am (London time) on Friday, 20 May 2011 at the offices of Allenby Capital Limited, 32 Davies Street, London W1K 4ND. \n \nThe business to be conducted at the AGM will be to present the Report and Accounts for the year 2010, and, if thought fit, to pass the following resolutions: \n \n(a) re-appoint certain Directors; \n(b) re-appoint the Company auditors; \n(c) amend the Chief Executive Officer's remuneration package; and \n(d) approve the issuance of 1.2 million options to certain Directors and Employees of the Company, exercisable into 1.2 million ordinary shares of the Company (representing approximately 2.3% of the Company's current issued and voting share capital of 51,571,990 ordinary shares). It is the Board's intention (subject to the passing of the relevant resolution at the AGM) to grant 180,000 options (0.35%) to Dov Feiner (Director and Chief Executive Officer) and 150,000 options (0.29%) Moni Borovitz (Finance Director and controlling shareholder). These options will have a vesting date of 31st May, 2014 and an exercise price of 13.5p per share, which represents a premium of 25% on the Company's current share price.\n \nFor the avoidance of doubt the above options will only be granted following shareholder approval of the resolution at the AGM.\n \nContacts:\nMTI Wireless Edge\nDov Feiner, CEO\nMoni Borovitz, Finance Director +972 3 900 89002\nAllenby Capital\nNick Naylor\nAlex Price &...