Telit Communications rises as it settles with LSE

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Telit Communications rises as it settles with LSE
Master Investor Magazine

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AIM-listed wireless technology manufacturer Telit Communications (LON:TCM) has seen its share price rise by 3.50% to 165.60p (as of 15:20 BST) after it agreed settlement terms with the London Stock Exchange. The firm breached rules 3 and 31 in 2017 due to the behaviour of the previous board and was publicly censured and charged a fine of £350,000 which has been fully waived.

Since the offenses related to charges against former CEO Oozi Cats in the US and the exchange recognised that the company and its advisers faced real difficulties in uncovering this behaviour given that they happened overseas and under differing variations of his name.

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