The completion of the Merger increased revenue by 35% during the period to $35.5m, with organic growth being 2% (2017: $26.4m* and $34.6m** respectively)
- Earnings per share increased by 14% to 2.70 US cents (2017: 2.36 US cents), even following the issuance of shares as consideration for the Merger
- Gross profit increased 26% year-on-year to $12m due to the Merger, with organic growth being 7% (2017: $9.6m* and $11.2m** respectively)
- Profit from operations increased 82% year-on-year to $2.9m due to the Merger, with organic growth being 21% (2017: $1.6m* and $2.4m** respectively)
- The Company generated $2.3m of cash from operations (2017: $2.4m)
- Shareholder’s equity grew during the period to $20.6m (31 December 2017: $19.6m) representing 18.3p per share (Calculated at £/$ rate of 1.29)
- Dividend of $0.015 per share (2017: $0.02 per share) declared – to be paid on 5 April 2019 to shareholders on the register at the close of trading on 22 March 2019
* These figures represent the relevant financial results of the Company (only) for the year ended 31 December 2017
.** These figures represent the relevant financial results of the Company in the year ended 31 December 2017, aggregated with that of MTI Computers & Software Services (1982) Ltd for the same period.
MTI Wireless Edge Ltd. is incorporated in Israel under the laws of Israel. Its head office is located in Israel.
As the rights of the shareholders of MTI Wireless Edge are governed by Israeli Law, they may differ from the rights of shareholders in an English incorporated company. Accordingly, transactions in shares of MTI Wireless Edge are not subject to the provisions of the UK City Code on Takeovers and Mergers.
Under the Israeli Companies Law, a potential bidder for the Company's shares, who would as a result of a purchase of shares hold either 25 per cent, or more of the voting rights in the Company
When no other party holds 25 per cent, or more, or 45 per cent, or more of the voting rights in the Company where no other shareholder holds 45 per cent, or more of the voting rights, would be required to make a special purchase offer as set out in the provisions of the Companies Law.
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