#VELA Vela Technologies Plc Investee Co. – #MWE MTI Wireless – SHARE PURCHASE BY A SUBSTANTIAL SHAREHOLDER November 21, 2023 – Posted in: Vela Technologies Plc (VELA) – Tags: investment, shareholders, shares, technology, treasury, voting rights

MTI Wireless Edge Ltd (AIM: MWE), the technology group focused on comprehensive communication and radio frequency solutions across multiple sectors, is pleased to announce the following:

Share purchase by Mokirey Aya Ltd

MTI announces that it was informed on 21 November 2023 that Mokirey Aya Ltd, a company controlled by members of the Borovitz family (including Zvi Borovitz, Chairman of the Board of Directors and Moni Borovitz, Director and Chief Executive Officer of the Company), has purchased 250,000 ordinary shares of par value 0.01 Israeli Shekels each in the capital of the Company (“Ordinary Shares”) at a price of 31.5p per Ordinary Share, being the prevailing mid-market share price at the time that the trade was agreed. These Ordinary Shares were purchased from the Company’s treasury shares, as described below.

Following this share purchase, Mokirey Aya Ltd has an interest in 26,670,895 Ordinary Shares, equivalent to 30.12% of the voting rights in the Company (as detailed below).  Separately, Zvi Borovitz and Moni Borovitz are beneficially interested in 1,146,429 and 371,254 Ordinary Shares respectively and these holdings remain unchanged, representing 1.29% and 0.42% of the voting rights in the Company (as detailed below) respectively.

Share purchase by Jacques and Rina Beer (the “Beer Family“)

MTI announces that it was informed on 21 November 2023 that the Beer Family has purchased 100,000 ordinary shares of par value 0.01 Israeli Shekels each in the capital of the Company (“Ordinary Shares”) at a price of 31.5p per Ordinary Share, being the prevailing mid-market share price at the time that the trade was agreed. These Ordinary Shares were purchased from the Company’s treasury shares, as described below.

Following this share purchase, the Beer Family has an interest in 9,197,042 Ordinary Shares, equivalent to 10.39% of the voting rights in the Company (as detailed below).

Transaction in own shares and total voting rights

MTI further announces that, in accordance with the Company’s Share Repurchase Programme, 350,000 Ordinary Shares were sold by the Company on 20 November 2023, at a price of 31.5 pence per share (being the prevailing mid-market share price at the time that the trade was agreed) from the Company’s treasury shares. The funds raised by the sale of the treasury shares will remain within the Share Repurchase Programme for future transactions. Following this sale of treasury shares, the Company holds no Ordinary Shares in treasury. The total number of Ordinary Shares in issue is 88,538,724 and the total number of voting rights in the Company as at the date of this announcement is also therefore 88,538,724, which may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company.

In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 as retained in UK law (UK MAR), the schedule appended further below contains detailed information about the sales of Ordinary Shares made by Shore Capital Stockbrokers Limited on behalf of the Company as part of the Share Repurchase Programme.

The FCA notifications, made in accordance with the requirements of UK MAR, are appended further below and give further details regarding the sales of Ordinary Shares by persons closely associated with PDMRs.

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