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Telit Communications PLC (TELT.L)

TELT.L on London Stock Exchange

179.00GBp
9:42am EDT
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Latest Key Developments (Source: Significant Developments)

Telit Communications says CEO Oozi Cats has resigned from board
Monday, 14 Aug 2017 02:00am EDT 

Aug 14 (Reuters) - Telit Communications Plc ::TELIT COMMUNICATIONS PLC - ANNOUNCES THAT CEO OOZI CATS, HAS RESIGNED FROM BOARD AND HIS EMPLOYMENT WITH IMMEDIATE EFFECT.TELIT COMMUNICATIONS-INDEPENDENT REVIEW FOUND EVIDENCE SHOWS INDICTMENT WAS ISSUED AGAINST OOZI CATS IN US, FACT WAS KNOWINGLY WITHHELD FROM ADVISERS.TELIT COMMUNICATIONS PLC - YOSI FAIT WILL CONTINUE AS INTERIM CHIEF EXECUTIVE OFFICER.TELIT COMMUNICATIONS-INTENDS TO APPOINT 3 ADDITIONAL INDEPENDENT NON-EXEC DIRECTORS AS SOON AS PRACTICABLE, ONE OF WHOM WILL BECOME CHAIRMAN.TELIT COMMUNICATIONS PLC - NOMINATIONS COMMITTEE HAS APPOINTED KORN FERRY TO CONDUCT THIS SEARCH.TELIT COMMUNICATIONS PLC - BOARD REITERATES GUIDANCE IT GAVE TO MARKET ON 7 AUGUST 2017.TELIT-AWARE OF SPECULATION FROM 3RD PARTIES RELATING TO CO'S FINANCIAL CONDITION,PERFORMANCE, BUSINESS RELATIONSHIPS; CONSIDERED SPECULATION IN DETAIL.CONFIRMS THAT THERE IS NO SUBSTANCE TO SPECULATIVE AND ACCUSATORY ARTICLES THAT HAVE BEEN PUBLISHED.TELIT - NOTES COMMENTS ON BARTOLINI AFTER MARKET ELECTRONIC SERVICES SRL, OR BAMES, WHICH RELATE TO MATTERS COMMENCED IN 2007, ENDED WITH INSOLVENCY OF BAMES IN 2013.TELIT-CONFIRMS SHOULD ANY CHARGES BE LEVELLED AGAINST GROUP, IT INTENDS TO "DEFEND POSITION VIGOROUSLY", CONSIDERS "ANY ACTION WOULD BE WITHOUT MERIT".  Full Article

Telit notes speculation regarding CEO
Wednesday, 9 Aug 2017 02:00am EDT 

Aug 9 (Reuters) - Telit Communications Plc ::TELIT - NOTES SPECULATION ABOUT HISTORICAL INDICTMENTS IN USA OF CO'S CEO, OOZI CATS, ABOUT MATTERS WHICH ARE UNRELATED TO TELIT AND PRE-DATE ITS ESTABLISHMENT.APPOINTED INDEPENDENT SOLICITORS TO CONDUCT A THOROUGH REVIEW OF THIS MATTER.AGREED TO MR. CATS' REQUEST FOR A LEAVE OF ABSENCE FROM COMPANY.YOSI FAIT, FINANCE DIRECTOR AND PRESIDENT, WILL SERVE AS INTERIM CHIEF EXECUTIVE OFFICER DURING THIS TIME.  Full Article

Telit says to place 11.59 million shares
Thursday, 4 May 2017 12:06pm EDT 

May 4 (Reuters) - Telit Communications Plc ::Proposed placing of up to 11,59 million new shares in telit communications plc.Intention to conduct a placing of up to 11,593,000 new ordinary shares in company.New shares represent 10.0% of telit's current outstanding issued share capital..Has entered into a placing agreement with Berenberg and Canaccord Genuity limited to act as joint bookrunners.Following completion of transaction company has agreed to a lock-up of 180 days..  Full Article

Telit sees FY adjusted EBITDA between 15 pct to 32 pct higher
Monday, 8 Aug 2016 08:04am EDT 

Telit Communications Plc : HY revenues up 6.3 pct to $166.1 million versus $156.3 million a year ago . Interim dividend 2.5 cents per share (2015: nil) - 1/3 of expected full year dividend, based on 28 pct of mid-range adjusted EPS guidance . Sees FY revenues of $370-$390 million - increase of 11 pct to 17 pct . H1 adjusted EBITDA $21.4 million (H1 2015: $21.8 million) . H1 adjusted profit before tax $11.4 million (H1 2015: $13.9 million) .Sees FY adjusted EBITDA of $52-$60 million - increase of 15 pct to 32 pct and adjusted basic EPS of $24-$30 cents - increase of 11 pct to 38 pct.  Full Article

Telit Communications Plc to acquire Bluetooth and Bluetooth Smart
Wednesday, 13 Jan 2016 02:00am EST 

Telit Communications Plc:Says it has agreed to acquire Bluetooth and Bluetooth Smart, otherwise known as Bluetooth Low Energy, assets from Stollmann Entwicklungs und Vertriebs Gmbh.  Full Article

Telit Communications Plc wins appeal against Italian tax authorities
Monday, 14 Dec 2015 02:00am EST 

Telit Communications Plc:Says further to the announcement on Dec 5, 2014, the appeal filed by its Telit Communications SpA with Italian tax court against three VAT assessments raised against Telit Italy by the Italian tax authorities, have been upheld and the assessments were therefore annulled.  Full Article

Telit Communications PLC announces automotive contract wins
Monday, 2 Nov 2015 02:00am EST 

Telit Communications PLC:Says that it has recently secured supply agreements for its cellular modules with two tier-one automotive suppliers, with expected revenues of up to $33 million.  Full Article

Telit Communications PLC receives contract
Monday, 19 Oct 2015 02:00am EDT 

Telit Communications PLC:Says it has secured a supply contract valued at up to $220 million as one of the technology providers for the GB SMIP.Says supplies are expected to commence in Q4 2016 and continue through to the end of 2021.  Full Article

BRIEF-Telit Communications says CEO Oozi Cats has resigned from board

* TELIT COMMUNICATIONS PLC - ANNOUNCES THAT CEO OOZI CATS, HAS RESIGNED FROM BOARD AND HIS EMPLOYMENT WITH IMMEDIATE EFFECT