Proactive Investors - Run By Investors For Investors

Telit says FCA has expanded the scope of its investigation

Since the events in question, Telit Communications has cleaned house
Investigation
The investigation by the FCA was announced on 27 March

The Financial Conduct Authority (FCA) has expanded the scope of its investigation into the timeliness of stock market announcements by Telit Communications Plc (LON:TCM).

The FCA had announced in March of this year it would examine the industrial Internet of Things company’s announcement of certain matters included in its interim results on 7 August 2017; it has now indicated it will consider the accuracy of earlier announcements by Telit, including its trading update of 25 April 2017 and the announcement of a placing of shares, which was announced on 4 May 2017.

READ Telit Communications confirms FCA investigation into timeliness of reporting

Telit said it has cooperated fully with the FCA in its enquiries to date and noted that all of the events being looked into by the City watchdog took place when Telit had a completely different set of directors.

View full TCM profile View Profile

Telit Communications PLC Timeline

Big Picture
March 01 2019

Related Articles

Radiation detection
May 08 2019
The company’s products are based on cadmium zinc telluride (CZT), an alloy used primarily for x-ray and gamma radiation detection, as well as other technologies
Tekcapital
15:46
Tekcapital expects “the quickening pace of innovation” in the portfolio companies to lead to higher service revenues in the future
MRI scanner
March 19 2019
The company invests and helps build companies in the medical and technology sectors, with a target exit valuation of over US$100mln

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use