MTI Wireless Edge (LON:MWE) - Post-merger, all on track
During the last week, the company has made two significant announcements:
- The nomination of Moni Borovitz as CEO, from finance director previously, subject to the annual general meeting on 14 March.
- A share buyback of up to £150k, commencing 28 January
The company came into being in its current form via the August 2018 merger of MTI Wireless Edge with MTI Computers, with Moni Borovitz playing a leading role in delivering the merger.
In this report, we present a reminder of the key dynamics of the merger. We note that since the merger, the share price has yet to stabilise and we believe that the buyback may be helpful in this regard.
MTI Wireless Edge is engaged in the development and manufacture of antennas and antenna systems for myriad wireless markets. Co.'s product range encompasses a myriad of mainstream and niche applications, including wireless telecommunications applications for the commercial markets, as well as airborne, naval and tactical military antennas. Through its subsidiary, Co. also provides remote control solutions for water and irrigation applications based on Motorola IRRInet control, monitoring and communication technologies. Co. has operations in Israel, India, the U.S., South Africa and Australia.
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