The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

Telit Communications PLC

Appointment of Chief Financial Officer

London, 7 September 2020 – Telit Communications PLC (“Telit”, “the Group”, AIM: TCM), a global enabler of the Internet of Things, is pleased to announce the appointment of Eyal Shefer as Chief Financial Officer effective 7 September 2020, succeeding Yariv Dafna who leaves the Group in order to take up a new role. Eyal will also replace Yariv on the Group Board of Directors.

Eyal Shefer, aged 40, joined Telit in October 2019 as Vice President, Finance. He is a qualified CPA, holds a BA in Economics and Accounting from Bar-Ilan University and an MBA in Finance from the College of Management Academic Studies (Israel). Prior to joining Telit, Eyal developed considerable relevant experience working in senior finance roles in listed international technology businesses, including Magic Software Enterprises (listed on the NASDAQ Global Select and Tel Aviv exchanges), DSP Group (NASDAQ) and Check Point Software (NASDAQ).

Simon Duffy, Chairman of Telit Communications, commented: “Yariv leaves with our thanks for his contribution over the last seventeen years at Telit and with our best wishes for his new role. We are pleased to announce the promotion of Eyal to Chief Financial Officer and to welcome him to the Board. He has worked closely with Yariv since he joined Telit last year and brings significant and relevant financial expertise to the role. Eyal has also been deeply involved in all aspects of our response to the coronavirus and has already driven positive change and improvements within the business.”

Enquiries:

Telit Communications PLC
Simon Duffy, Chairman

Paolo Dal Pino, Chief Executive Officer

c/o FinElk
 
finnCap (Nomad and Broker)

Henrik Persson/Giles Rolls/Charlie Beeson (corporate finance)

Tim Redfern / Richard Chambers (ECM)

Tel: +44 20 7220 0500
   
FinElk Tel: +44 20 7631 8618
Robin Haddrill/ Cornelia Schnepf Email: telit@finelk.eu

About Telit

Telit (AIM: TCM), is a global leader in Internet of Things (IoT) enablement, with an extensive portfolio of wireless connectivity modules, software platforms and global IoT connectivity services, empowering hundreds of millions of connected ‘things’ to date, and trusted by thousands of direct and indirect customers, globally. With over two decades of IoT innovation experience, Telit continues to redefine the boundaries of digital business, by delivering secure, integrated end-to-end IoT solutions for many of the world’s largest brands, including enterprises, OEMs, system integrators and service providers across all industries, enabling them to simplify, connect and manage IoT at any scale.

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Copyright © 2020 Telit Communications PLC. All rights reserved. Telit, Telit OneEdge and all associated logos are trademarks of Telit Communications PLC in the United States and other countries. Other names used herein may be trademarks of their respective owners.

Additional Information

In accordance with the AIM Rules, the following information required to be disclosed in relation to Eyal Shefer is set out below. Other than this information, there is no further information required to be disclosed under paragraph (g) of Schedule Two of the AIM Rules.

Eyal Shefer (formerly Shpritzer), age 40, holds nil Ordinary Shares, nil Options over Ordinary Shares in the Company and 20,000 RSUs.

Current directorships Previous directorships within the last 5 years
Telit Communications Spain S.L.

Telit Communications India Pvt. Ltd

Telit Wireless Solutions Co. Ltd.

Dai Telecom Holdings (2000) Ltd

Telit Communications India Private Limited

Sahar-(not for profit organisation)

None