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Telit Communications PLC

Telit Communications - Vendor Loan repaid

RNS Number : 2016W
Telit Communications PLC
15 April 2019
 

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.

 

Enquiries:

 

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




 

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.

 

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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.

 


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