The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
Telit Communications PLC
Vendor Loan repaid
London, 15 April 2019 – Telit Communications PLC (“Telit”, “the Group”, AIM: TCM), a global enabler of the Internet of Things (IoT), confirms that the short-term vendor loan granted to TUS has today been repaid in full. The vendor loan was granted to TUS on 27 February 2019 as part of the agreement to sell Telit Automotive Solutions NV to TUS for a total consideration of $105m.
|Telit Communications PLC||Tel: +44 203 289 3831|
|Yariv Dafna, Finance Director|
|finnCap (Nomad and joint broker)||Tel: +44 20 7220 0500|
|Henrik Persson/Giles Rolls (corporate finance)|
|Tim Redfern/Richard Chambers (ECM)|
|Berenberg (Joint Broker)||Tel: +44 20 3465 2722|
|Chris Bowman/Mark Whitmore|
|Instinctif Partners||Tel: +44 20 7457 2077|
|Adrian Duffield/Chantal Woolcock|
Telit (AIM: TCM), is a global leader in Internet of Things (IoT) enablement. The company offers the industry’s broadest portfolio of integrated products and services for end-to-end IoT deployments – including cellular communication modules in all technologies, GNSS, Wi-Fi, short-to-long range wireless modules, IoT connectivity plans and IoT platform services. Through the IoT Portal, Telit makes IoT onboarding easy, reduces risk, time to market, complexity and costs for asset tracking, remote monitoring and control, telematics, industrial automation and others, across many industries and vertical markets worldwide.
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