Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. United Kingdom
  4. London Stock Exchange
  5. Telit Communications PLC
  6. News
  7. Summary
    TCM   GB00B06GM726

TELIT COMMUNICATIONS PLC

(TCM)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Telit Communications : Posting of Annual Report and Accounts, Chairman's Letter and Notice of AGM

04/28/2021 | 02:07am EDT

Telit Communications PLC

Posting of Annual Report and Accounts, Chairman's Letter and Notice of

AGM

London, 28 April 2021 - Telit Communications PLC (AIM: TCM, "Telit" and "Group"), a global enabler of the Internet of Things (IoT), has published its Annual Report and Accounts for the year ended 31 December 2020. Printed copies of the Annual Report and Accounts have been posted to shareholders alongside the Notice of Annual General Meeting and Chairman's Letter.

Telit`s Annual General Meeting will be held at 10 Habarzel Street, Tel Aviv, Israel at 10 a.m. UK time (12 p.m. Israel time) on 20 May 2021. In accordance with current government instructions and guidance regarding Covid-19 and the restrictions on social contact, public gatherings and non-essential travel, you should not attempt to physically attend the AGM.

The presentation is open to all existing and potential shareholders. Questions can be submitted pre-event via your Investor Meet Company dashboard up until 9am the day before the meeting or at any time during the live presentation.

Investors can sign up to Investor Meet Company for free and add to meet TELIT COMMUNICATIONS

PLC via: https://www.investormeetcompany.com/telit-communications-plc/register-investor

Investors who already follow TELIT COMMUNICATIONS PLC on the Investor Meet Company platform will automatically be invited.

The Annual Report and Accounts will be available shortly on the Group's website at https://www.telit.com/about/investor-relations/.

The Chairman's Letter and Notice of Annual General Meeting will be available shortly on the Group's website at https://www.telit.com/about/investor-relations/shareholders-meetings/.

Enquiries:

Telit Communications PLC

Tel: +44 203 289 3831

Paolo Dal Pino, Chief Executive Officer

Eyal Shefer, Chief Financial Officer

finnCap (Nomad and Broker)

Tel: +44 20 7220 0500

Henrik Persson/Giles Rolls (corporate finance)

Tim Redfern / Richard Chambers (ECM)

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. 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.

# # #

1

Copyright © 2019 Telit Communications PLC. All rights reserved. Telit 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.

PART I

LETTER FROM THE CHAIR

Telit Communications PLC

(Incorporated and registered in England and Wales with registered number 05300693)

28 April 2021

Dear Shareholder,

Annual General Meeting 2021

I am pleased to write to you with details of this year's Annual General Meeting ("AGM") of Telit Communications PLC ("Company") which will be held at 10 Habarzel Street, Tel Aviv, Israel at 10 a.m. UK time (12 p.m. Israel time) on 20 May 2021. The formal Notice of AGM is set out at Part II of this document.

As a result of the evolving situation regarding Covid-19 and as a result of the social distancing measures implemented by the UK Government to manage the impact of Covid-19 (the "Government Measures"), as at the date of this document and as set out in the roadmap out of lockdown announced by the UK Government on 22 February 2021, our expectation is that there will be limitations to our ability to host the AGM with shareholders in attendance in person. As a result, the Board has determined that as with last year's AGM it is impractical to hold the AGM in the United Kingdom and it will again be hosted at the Company's offices in Israel. Subject to any further Government Measures, we will aim to hold future AGMs in the United Kingdom as usual.

  1. IMPORTANT: COVID-19 IMPLICATIONS - PARTICIPATING IN THE ANNUAL GENERAL MEETING

In accordance with current Government Measures regarding Covid-19 and the restrictions on social contact, public gatherings and non-essential travel, you should not attempt to physically attendthe AGM. Instead you should vote by proxy, preferably online in accordance with the instructions below by 10 a.m. UK time on [18] May 2021.

Accordingly, unless there is there is any material change in circumstances which causes the Company to notify changed arrangements, any shareholder (other than those required to form a quorum) who attempts to physically attend the AGM in person will be refused admission. The Company's attendance at the AGM in person will be limited to satisfy the requirements for a quorum.

We strongly urge you to follow government instructions in respect of the evolving situation regarding COVID-19 and the restrictions on social contact, public gatherings and non-essential travel.

The situation in relation to Covid-19 continues to evolve and the Company will continue to update its shareholders on any changed arrangements for the AGM through the Regulatory Information Service and

2

the Company's website www.telit.com. Company shareholders are advised to check the Company's website for updates.

If you would like to access the proceedings of the AGM by audio, the Company has made available an audio facility, through which the AGM will be broadcast at the relevant time. If you would like to take advantage of this facility, please access the link at [https://www.telit.com/about/investor- relations/shareholders-meetings/]and follow the instructions provided. Access and the numbers of participants may be limited due to technological restraints.

Please note that by taking part in the audio facility you will NOT be: (i) counted in attendance at the AGM; or (ii) counted in the vote at the AGM. You are therefore strongly urged to vote online (as detailed below in Paragraph II) by the relevant time.

The Directors would normally welcome the AGM as an opportunity to meet shareholders in person and to listen to and respond to your questions in person. We are keen to hear your views, and to answer your questions on the business of the AGM. Shareholders may submit questions to the Chair of the AGM by email at: investor.relations@telit.com. Any questions must relate to the subject matter of the AGM and the email must clearly state your name, address, registered nominee holder (if applicable) and the number of Company shares you hold. We recommend that you submit your questions as soon as possible and before 5.00pm (UK time) on 18 May 2021 to enable us to respond to all questions before the AGM.

  1. PROXY FORM

You will notreceive a form of proxy for the AGM in the post. Instead, you are strongly encouraged to vote online (for further details: see the Notes to the Notice of AGM, on page 7 of this document) and return the electronic form of proxy as soon as practicable and in any event by the time and date noted above. If you wish, you may request a hard copy proxy form directly from the registrars, Link Asset Services, 34 Beckenham Road, Beckenham, BR3 4TU (telephone number: 0371 664 0391).

Due to restrictions on attendance at the AGM, when completing your proxy form, please onlyreference the 'Chair of the AGM' as your proxy (and do not specifically name any one individual).

  1. RECOMMENDATION

The Board considers that each of the Resolutions set out in the Notice of AGM is in the best interests of the Company and its shareholders as a whole. Your Board intend to vote in favour of each Resolution in respect of their own respective holdings of ordinary shares in the capital of the Company and they unanimously recommend that you should vote in favour of each of them as well

Yours sincerely,

Simon Duffy

Chair

3

PART II

TELIT COMMUNICATIONS PLC

NOTICE OF ANNUAL GENERAL MEETING

This year's AGM will be held at the offices of 10 Habarzel Street, Tel Aviv, Israel at 10 a.m. UK time (12 p.m. Israel time) on 20 May 2021. Shareholders will be asked to consider and, if thought fit, pass the resolutions below. Resolutions 15, 16 and 17 will be proposed as Special Resolutions. All other resolutions will be proposed as Ordinary Resolutions.

Ordinary Resolutions

  1. To receive and consider Telit Communications PLC's ("Company") annual accounts together with the directors' report and the auditors' report thereon for the financial year ended 31 December 2020.
  2. To receive and approve the report on directors' remuneration on pages 34 to 38 of the 2020 Annual Report for the financial year ended 31 December 2020.
  3. To appoint Mazars LLP as auditors to hold office from the conclusion of this meeting until the conclusion of the next annual general meeting of the Company at which accounts are laid.
  4. To authorize the directors to determine Mazars LLP's remuneration as auditors of the Company.
  5. To re-elect Marco Patuano as a director.
  6. To re-elect Anthony Dixon as a director.
  7. To re-elect Paolo Dal Pino as a director.
  8. To re-elect Simon Duffy as a director.
  9. To re-elect Harald Rösch as a director.
  10. To re-elect Gil Sharon as a director.
  11. To elect Eyal Shefer as a director.
  12. To elect Yang Yuxiang as a director.
  13. That the directors be generally and unconditionally authorised under section 551 of the Companies Act 2006 to exercise all the powers of the Company to allot shares in the

4

Company and to grant rights to subscribe for or to convert any security into shares in the Company up to an aggregate nominal amount of £895,931.88 comprising:

  1. an aggregate nominal amount of £447,965.94 (whether in connection with the same offer or issue as under 13.2 below or otherwise); and
  2. an aggregate nominal amount of £447,965.94 in the form of equity securities (as defined in section 560 of the Companies Act 2006) in connection with an offer by way of a rights issue, open for acceptance for a period fixed by the directors, made to holders of ordinary shares (other than the Company) on the register on any record date fixed by the directors in proportion (as nearly as may be) to the respective number of ordinary shares deemed to be held by them, subject to such exclusions or other arrangements as the directors may deem necessary or expedient in relation to fractional entitlements, legal or practical problems arising in any overseas territory, the requirements of any regulatory body or stock exchange or any other matter whatsoever.

This authority shall expire (unless previously varied as to duration, revoked or renewed by the Company in general meeting) at the conclusion of the Company's next annual general meeting or within 15 months from the date of passing of this resolution (whichever is the earlier), except that the Company may before such expiry make any offer or agreement which would or might require shares to be allotted or such rights to be granted after such expiry and the directors may allot shares or grant such rights in pursuance of such offer or agreement as if the authority conferred by this resolution had not expired.

This resolution revokes and replaces all unexercised authorities previously granted to the directors in accordance with section 551 of the Companies Act 2006 to allot shares or grant rights to subscribe for or to convert any security into shares in the Company but without prejudice to any allotment of shares or grant of rights already made, offered or agreed to be made pursuant to such authorities.

14. That the directors be and are hereby authorised, in accordance with article 212 of the Company's Articles of Association, and to the extent and in the manner determined by the directors, to offer the holders of ordinary shares in the capital of the Company (excluding members holding any shares as treasury shares), the right to elect to receive an allotment of new ordinary shares in the capital of the Company (credited as fully paid) instead of any cash, in respect of all or part of any dividend as may be declared by the directors from time to time, provided that the authority conferred by this resolution shall expire at the end of the next annual general meeting of the Company after the date on which this resolution is passed.

Special Resolutions

15. That the directors be empowered pursuant to section 570 of the Companies Act 2006 to allot equity securities (as defined in section 560 of that Act) for cash pursuant to the general authority conferred on them by resolution 13 and/or to sell equity securities held by the Company as treasury shares for cash pursuant to section 727 of the Companies Act 2006, in each case as if section 561 of that Act did not apply to any such allotment or sale, provided that this power shall be limited to:

15.1 any such allotment and/or sale of equity securities in connection with an offer by way of a rights issue or other pre-emptive offer or issue, open for acceptance for a period fixed by the directors, made to holders of ordinary shares (other than the Company) on the register on any record date fixed by the directors in proportion (as

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Telit Communications plc published this content on 28 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 April 2021 06:06:03 UTC.


ę Publicnow 2021
All news about TELIT COMMUNICATIONS PLC
06/16TELIT COMMUNICATIONSá : and VAIO Strengthen Strategic Alliance with the Launch o..
PU
06/16TELIT COMMUNICATIONSá : Form 8.5 (EPT/RI) - Telit Communications Plc
AQ
06/09TELIT COMMUNICATIONSá : LTE-M Modules Certified for Use on FirstNet«, Built with..
PU
06/02TELIT COMMUNICATIONSá : Expands Latin America Leadership with Expanded Hi-Mix Pa..
PU
06/01TELIT COMMUNICATIONSá : and ASOCS Partner on Turnkey Private 5G Networks for Ind..
PU
06/01TELIT COMMUNICATIONSá : Form 8.5 (EPT/RI) - Telit Communications Plc
AQ
05/27TELIT COMMUNICATIONSá : Interoperability Testing Unlocks Commercialization of Te..
PU
05/26TELIT COMMUNICATIONSá : acquires new mobile core network NExT
PU
05/26TELIT COMMUNICATIONSá : activates new mobile core network NExT
PU
05/26TELIT COMMUNICATIONSá : Network Provides First-of-kind Cellular Connectivity IoT..
PU
More news
Financials (USD)
Sales 2021 383 M - -
Net income 2021 17,1 M - -
Net Debt 2021 - - -
P/E ratio 2021 24,8x
Yield 2021 -
Capitalization 423 M 421 M -
Capi. / Sales 2021 1,10x
EV / Sales 2022
Nbr of Employees 820
Free-Float 54,8%
Chart TELIT COMMUNICATIONS PLC
Duration : Period :
Telit Communications PLC Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends TELIT COMMUNICATIONS PLC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
 
Mean consensus -
Number of Analysts 1
Average target price 4,68 $
Last Close Price 3,15 $
Spread / Highest target 48,8%
Spread / Average Target 48,8%
Spread / Lowest Target 48,8%
EPS Revisions
Managers and Directors
NameTitle
Paolo dal Pino Chief Executive Officer & Executive Director
Eyal Shefer Chief Financial Officer & Executive Director
Simon Patrick Duffy Independent Non-Executive Chairman
Antonino Sgroi Head-Global Research & Development
Yamit Sela Chief Information Officer