May 4, 2017 / 4:09 PM / 7 months ago

BRIEF-Telit says to place 11.59 million shares

May 4 (Reuters) - Telit Communications Plc:

* Proposed placing of up to 11,59 million new shares in telit communications plc

* Intention to conduct a placing of up to 11,593,000 new ordinary shares in company

* New shares represent 10.0% of telit’s current outstanding issued share capital.

* Has entered into a placing agreement with Berenberg and Canaccord Genuity limited to act as joint bookrunners

* Following completion of transaction company has agreed to a lock-up of 180 days. Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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