logo-loader
RNS
viewMTI Wireless Edge Limited

Results for the nine months to 30 September 2019

/**/ h1{margin-top:6.0pt;margin-right:35.45pt;margin-bottom:0cm;margin-left:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight:normal;}h2{margin-top:6.0pt;margin-right:70.9pt;margin-bottom:0cm;margin-left:70.9pt;margin-bottom:.0001pt;text-align:justify;text-indent:-35.45pt;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight:normal;}h3{margin-top:6.0pt;margin-right:5.0cm;margin-bottom:0cm;margin-left:5.0cm;margin-bottom:.0001pt;text-align:justify;text-indent:-70.85pt;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight:normal;}h4{margin-top:6.0pt;margin-right:212.65pt;margin-bottom:0cm;margin-left:212.65pt;margin-bottom:.0001pt;text-align:justify;text-indent:-70.9pt;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight:normal;}h5{margin-top:6.0pt;margin-right:10.0cm;margin-bottom:0cm;margin-left:10.0cm;margin-bottom:.0001pt;text-align:justify;text-indent:-70.85pt;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight:normal;}h6{margin-top:0cm;margin-right:248.15pt;margin-bottom:6.0pt;margin-left:248.15pt;text-align:right;text-indent:-35.45pt;font-size:11.0pt;font-family:"Times New Roman","serif";color:blue;font-weight:normal;}strong{font-family:"Calibri","sans-serif";}ol{margin-bottom:0cm;}ul{margin-bottom:0cm;}link{ color: blue } visited{ color: purple } .gf{size:21.0cm 842.0pt;margin:70.9pt 2.0cm 49.65pt 2.0cm;}div.gf{}h1.aga{font-weight: bold}span.agb{font-family:"Calibri","sans-serif"}h1.afz{margin-right: -14.2pt; text-align: left}h1.afy{font-weight: bold; margin-right: -14.2pt; text-align: center}h1.afx{margin-right:-5.65pt}h1.afw{font-weight: bold; margin-right: -5.65pt}h1.aft{margin-top:6.0pt;margin-right:-5.65pt;margin-bottom:0cm;margin-left: 36.0pt;margin-bottom:.0001pt;text-indent:-18.0pt}span.afv{font-family:Symbol} span.afu{font-family: "Calibri","sans-serif"}h1.afs{margin-top:6.0pt;margin-right:-11.35pt;margin-bottom:0cm;margin-left: 35.7pt;margin-bottom:.0001pt;text-indent:-17.85pt}h1.afq{font-div: italic; margin-right: -5.65pt}span.afr{font-size:10.0pt;font-family:"Calibri","sans-serif"}p.ae,li.ae,div.ae{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";}p.agd{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";text-align: left}p.a,li.a,div.a{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";}p.age{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; text-align: left}p.agf{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; line-height: 115%; text-align: center}p.agg{margin:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight:bold;line-height: 115%; margin-bottom: 0cm; margin-left: 90.0pt; margin-right: 92.15pt; margin-top: 0cm; text-align: center} p.agh{margin:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight:bold;text-decoration:underline;line-height: 115%; margin-bottom: 0cm; margin-left: 90.0pt; margin-right: 92.15pt; margin-top: 0cm; text-align: center}table.agi{margin-left:-2.7pt;border-collapse:collapse}td.afk{width:248.0pt;padding:0cm 1.4pt 0cm 1.4pt}p.agj{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; text-align: center}td.afh{width:150.2pt;padding:0cm 1.4pt 0cm 1.4pt}div.afi{border:none;border-bottom:solid windowtext 1.0pt;padding:0cm 0cm 1.0pt 0cm}p.agk{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";border: none; font-weight: bold; padding: 0cm; text-align: center}td.afg{width:2.65pt;padding:0cm 1.4pt 0cm 1.4pt}td.aff{width:71.15pt;padding:0cm 1.4pt 0cm 1.4pt}td.afe{width:72.25pt;padding:0cm 1.4pt 0cm 1.4pt} td.afd{width:69.7pt;padding:0cm 1.4pt 0cm 1.4pt}td.afb{width:229.6pt;padding:0cm 1.4pt 0cm 1.4pt}p.agl{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";border: none; direction: rtl; font-weight: bold; padding: 0cm; text-align: center; unicode-bidi: embed}p.agm{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; text-align: right}p.agn{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";direction: rtl; line-height: 3.0pt; margin-bottom: 0cm; margin-left: 12.75pt; margin-right: 16.95pt; margin-top: 0cm; text-align: center; unicode-bidi: embed}span.aez{}tr.aen{height:14.4pt}td.aev{width:248.0pt;padding:0cm 1.4pt 0cm 1.4pt; height:14.4pt}p.ago{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height:150%}span.aex{line-height:150%} td.aet{width:72.25pt;padding:0cm 1.4pt 0cm 1.4pt;height:14.4pt}p.agp{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";direction: rtl; line-height: 150%; margin-bottom: 0cm; margin-left: 12.75pt; margin-right: 16.95pt; margin-top: 0cm; text-align: center; unicode-bidi: embed}td.aes{width:2.65pt;padding:0cm 1.4pt 0cm 1.4pt; height:14.4pt}td.aer{width:69.7pt;padding:0cm 1.4pt 0cm 1.4pt;height:14.4pt}td.aep{width:2.65pt;padding:0cm 1.4pt 0cm 1.4pt;height:14.4pt}p.agq{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";direction: rtl; line-height: 150%; margin-bottom: 0cm; margin-left: 8.5pt; margin-right: 8.5pt; margin-top: 0cm; text-align: center; unicode-bidi: embed}td.aeo{width:71.15pt;padding:0cm 1.4pt 0cm 1.4pt; height:14.4pt}div.ael{border:none;border-bottom:solid windowtext 1.0pt;padding:0cm 0cm 1.0pt 0cm; margin-right:16.95pt;margin-left:12.75pt}p.agr{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";border: none; direction: rtl; padding: 0cm; text-align: center; unicode-bidi: embed}p.ags{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";direction: rtl; margin-bottom: 0cm; margin-left: 8.5pt; margin-right: 8.5pt; margin-top: 0cm; text-align: center; unicode-bidi: embed} div.aej{border:none;border-bottom:solid windowtext 1.0pt;padding:0cm 0cm 1.0pt 0cm; margin-right:8.5pt;margin-left:8.5pt}tr.aec{height:3.0pt}td.aeh{width:248.0pt;padding:0cm 1.4pt 0cm 1.4pt; height:3.0pt}p.agt{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height:3.0pt}td.aeg{width:72.25pt;padding:0cm 1.4pt 0cm 1.4pt; height:3.0pt}td.aef{width:2.65pt;padding:0cm 1.4pt 0cm 1.4pt; height:3.0pt}td.aee{width:69.7pt;padding:0cm 1.4pt 0cm 1.4pt; height:3.0pt}td.aed{width:71.15pt;padding:0cm 1.4pt 0cm 1.4pt; height:3.0pt}p.agu{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; line-height: 150%; margin-left: 11.35pt}tr.adu{height:8.75pt} td.aea{width:248.0pt;padding:0cm 1.4pt 0cm 1.4pt; height:8.75pt}td.adz{width:72.25pt;padding:0cm 1.4pt 0cm 1.4pt; height:8.75pt}td.ady{width:2.65pt;padding:0cm 1.4pt 0cm 1.4pt; height:8.75pt}td.adx{width:69.7pt;padding:0cm 1.4pt 0cm 1.4pt; height:8.75pt}td.adw{width:2.65pt;padding:0cm 1.4pt 0cm 1.4pt;height:8.75pt}td.adv{width:71.15pt;padding:0cm 1.4pt 0cm 1.4pt; height:8.75pt}p.agv{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";direction: rtl; line-height: 3.0pt; margin-bottom: 0cm; margin-left: 8.5pt; margin-right: 8.5pt; margin-top: 0cm; text-align: center; unicode-bidi: embed}p.agw{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";direction: rtl; line-height: 3.0pt; margin-bottom: 0cm; margin-left: 12.0pt; margin-right: 16.95pt; margin-top: 0cm; text-align: center; unicode-bidi: embed}p.agx{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 150%; margin-bottom: 0cm; margin-left: 1.3pt; margin-right: 12.75pt; margin-top: 0cm; text-align: center}p.agy{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-bottom: 0cm; margin-left: 1.3pt; margin-right: 12.75pt; margin-top: 0cm; text-align: center} p.agz{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height:3.0pt}span.adp{letter-spacing:-.4pt}tr.adg{height:11.45pt}td.adn{width:248.0pt;padding:0cm 1.4pt 0cm 1.4pt; height:11.45pt}p.aha{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; margin-left: 11.35pt}td.adl{width:72.25pt;padding:0cm 1.4pt 0cm 1.4pt; height:11.45pt}div.adm{border:none;border-bottom:solid windowtext 1.0pt;padding:0cm 0cm 1.0pt 0cm; margin-right:16.95pt;margin-left:12.0pt}td.adj{width:2.65pt;padding:0cm 1.4pt 0cm 1.4pt; height:11.45pt}p.ahb{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";direction: rtl; margin-bottom: 0cm; margin-left: 12.0pt; margin-right: 8.5pt; margin-top: 0cm; text-align: center; unicode-bidi: embed}td.adi{width:69.7pt;padding:0cm 1.4pt 0cm 1.4pt; height:11.45pt} td.adh{width:71.15pt;padding:0cm 1.4pt 0cm 1.4pt; height:11.45pt}tr.acz{height:11.9pt}td.adf{width:248.0pt;padding:0cm 1.4pt 0cm 1.4pt; height:11.9pt}td.ade{width:72.25pt;padding:0cm 1.4pt 0cm 1.4pt;height:11.9pt}td.add{width:2.65pt;padding:0cm 1.4pt 0cm 1.4pt; height:11.9pt}td.adc{width:69.7pt;padding:0cm 1.4pt 0cm 1.4pt;height:11.9pt}td.adb{width:2.65pt;padding:0cm 1.4pt 0cm 1.4pt;height:11.9pt}td.ada{width:71.15pt;padding:0cm 1.4pt 0cm 1.4pt;height:11.9pt}p.ahc{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-div: italic; margin-left: 1.3pt}p.ahd{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";direction: rtl; margin-bottom: 0cm; margin-left: 12.75pt; margin-right: 16.95pt; margin-top: 0cm; text-align: center; unicode-bidi: embed} tr.acr{height:7.85pt}td.acw{width:248.0pt;padding:0cm 1.4pt 0cm 1.4pt; height:7.85pt}td.acv{width:72.25pt;padding:0cm 1.4pt 0cm 1.4pt; height:7.85pt}td.acu{width:2.65pt;padding:0cm 1.4pt 0cm 1.4pt; height:7.85pt}td.act{width:69.7pt;padding:0cm 1.4pt 0cm 1.4pt; height:7.85pt}td.acs{width:71.15pt;padding:0cm 1.4pt 0cm 1.4pt; height:7.85pt}tr.acl{height:6.05pt}td.acq{width:248.0pt;padding:0cm 1.4pt 0cm 1.4pt; height:6.05pt}td.acp{width:72.25pt;padding:0cm 1.4pt 0cm 1.4pt; height:6.05pt}td.aco{width:2.65pt;padding:0cm 1.4pt 0cm 1.4pt; height:6.05pt} td.acn{width:69.7pt;padding:0cm 1.4pt 0cm 1.4pt; height:6.05pt}td.acm{width:71.15pt;padding:0cm 1.4pt 0cm 1.4pt; height:6.05pt}p.ahe{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-left:1.3pt}p.ahf{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";direction: rtl; line-height: 3.0pt; margin-bottom: 0cm; margin-left: 8.5pt; margin-right: 8.5pt; margin-top: 0cm; text-align: center; unicode-bidi: embed}p.ahg{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";direction: rtl; font-weight: bold; line-height: 3.0pt; margin-left: 8.5pt; text-align: center; unicode-bidi: embed}tr.aca{height:3.5pt}td.aci{width:248.0pt;padding:0cm 1.4pt 0cm 1.4pt; height:3.5pt}td.acg{width:72.25pt;padding:0cm 1.4pt 0cm 1.4pt;height:3.5pt}div.ach{border:none;border-bottom:double windowtext 1.5pt;padding:0cm 0cm 1.0pt 0cm; margin-right:16.95pt;margin-left:12.75pt}td.acf{width:2.65pt;padding:0cm 1.4pt 0cm 1.4pt; height:3.5pt} td.ace{width:69.7pt;padding:0cm 1.4pt 0cm 1.4pt;height:3.5pt}td.acd{width:2.65pt;padding:0cm 1.4pt 0cm 1.4pt;height:3.5pt}td.acb{width:71.15pt;padding:0cm 1.4pt 0cm 1.4pt; height:3.5pt}div.acc{border:none;border-bottom:double windowtext 1.5pt;padding:0cm 0cm 1.0pt 0cm; margin-right:8.5pt;margin-left:8.5pt}p.ahh{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-top:0cm;margin-right:8.5pt;margin-bottom: 0cm;margin-left:8.5pt;margin-bottom:.0001pt}span.abz{font-family:"David","sans-serif"}p.ahi{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; margin-bottom: 0cm; margin-left: 8.5pt; margin-right: 8.5pt; margin-top: 0cm}p.ahj{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-top:0cm;margin-right:12.75pt;margin-bottom: 0cm;margin-left:16.95pt;margin-bottom:.0001pt}p.ahk{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";text-align: center}p.ahl{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";direction: rtl; font-weight: bold; line-height: 3.0pt; margin-bottom: 0cm; margin-left: 12.75pt; margin-right: 16.95pt; margin-top: 0cm; text-align: center; unicode-bidi: embed} p.ahm{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold}p.ahn{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-bottom: 0cm; margin-left: 16.95pt; margin-right: 12.75pt; margin-top: 0cm; text-align: center}p.aho{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-bottom: 0cm; margin-left: 8.5pt; margin-right: 8.5pt; margin-top: 0cm; text-align: center}p.ahp{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 3.0pt; margin-bottom: 0cm; margin-left: 8.5pt; margin-right: 8.5pt; margin-top: 0cm; text-align: center}td.abp{width:72.25pt;padding:0cm 1.4pt 0cm 1.4pt; height:11.9pt}td.abo{width:69.7pt;padding:0cm 1.4pt 0cm 1.4pt; height:11.9pt}td.abn{width:71.15pt;padding:0cm 1.4pt 0cm 1.4pt; height:11.9pt}div.abl{border:none;border-bottom:double windowtext 1.5pt;padding:0cm 0cm 1.0pt 0cm; margin-left:8.5pt;margin-right:8.5pt}p.ahq{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";border: none; padding: 0cm; text-align: center}div.abk{border:none;border-bottom:double windowtext 1.5pt;padding:0cm 0cm 1.0pt 0cm; margin-left:9.85pt;margin-right:8.5pt} tr.abd{height:9.85pt}td.abj{width:248.0pt;padding:0cm 1.4pt 0cm 1.4pt; height:9.85pt}td.abi{width:72.25pt;padding:0cm 1.4pt 0cm 1.4pt; height:9.85pt}td.abh{width:2.65pt;padding:0cm 1.4pt 0cm 1.4pt; height:9.85pt}td.abg{width:69.7pt;padding:0cm 1.4pt 0cm 1.4pt; height:9.85pt}td.abe{width:71.15pt;padding:0cm 1.4pt 0cm 1.4pt; height:9.85pt}span.abf{font-family:"Times-Roman","serif"}td.abc{width:72.25pt;padding:0cm 1.4pt 0cm 1.4pt; height:3.5pt}td.abb{width:69.7pt;padding:0cm 1.4pt 0cm 1.4pt; height:3.5pt}p.ahr{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; line-height: 150%} p.ahs{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 150%; text-align: center}p.aht{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; line-height: 150%; text-align: center; text-decoration: underline}p.ahu{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; line-height: 150%; text-align: center}.aav{text-decoration: underline}span.aau{line-height: 150%}table.ahv{margin-left:-21.3pt;border-collapse:collapse}tr.aao{page-break-inside:avoid}td.aas{width:259.5pt;padding:0cm 1.4pt 0cm 1.4pt}p.ahw{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; margin-left: 22.7pt}td.aar{width:375.1pt;padding:0cm 1.4pt 0cm 1.4pt} td.aaq{width:54.7pt;padding:0cm 1.4pt 0cm 1.4pt}td.aap{width:54.95pt;padding:0cm 1.4pt 0cm 1.4pt}td.aam{width:54.8pt;padding:0cm 1.4pt 0cm 1.4pt}h1.aan{border: none; font-weight: bold; margin: 0cm; margin-bottom: .0001pt; padding: 0cm; text-align: center}td.aal{width:56.25pt;padding:0cm 1.4pt 0cm 1.4pt}td.aaj{width:63.9pt;padding:0cm 1.4pt 0cm 1.4pt}p.ahx{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; text-align: center; text-autospace: none}td.aai{width:68.3pt;padding:0cm 1.4pt 0cm 1.4pt}td.aah{width:57.8pt;padding:0cm 1.4pt 0cm 1.4pt}td.aag{width:60.05pt;padding:0cm 1.4pt 0cm 1.4pt} td.aae{width:490.35pt;padding:0cm 1.4pt 0cm 1.4pt}h1.aaf{font-weight: bold; margin: 0cm; margin-bottom: .0001pt; text-align: center}p.ahy{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; line-height: 3.0pt; margin-bottom: 0cm; margin-left: 10.2pt; margin-right: 3.65pt; margin-top: 0cm; text-align: center}td.aab{width:54.8pt;border:none;border-top:solid windowtext 1.5pt; padding:0cm 1.4pt 0cm 1.4pt}span.aac{ }td.aaa{width:56.25pt;border:none;border-top:solid windowtext 1.5pt; padding:0cm 1.4pt 0cm 1.4pt}td.zz{width:63.9pt;border:none;border-top:solid windowtext 1.5pt; padding:0cm 1.4pt 0cm 1.4pt}td.zy{width:68.3pt;border:none;border-top:solid windowtext 1.5pt; padding:0cm 1.4pt 0cm 1.4pt}td.zx{width:57.8pt;border:none;border-top:solid windowtext 1.5pt; padding:0cm 1.4pt 0cm 1.4pt}td.zw{width:60.05pt;border:none;border-top:solid windowtext 1.5pt; padding:0cm 1.4pt 0cm 1.4pt} td.zv{width:54.7pt;border:none;border-top:solid windowtext 1.5pt; padding:0cm 1.4pt 0cm 1.4pt}td.zu{width:54.95pt;border:none;border-top:solid windowtext 1.5pt; padding:0cm 1.4pt 0cm 1.4pt}p.ahz{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";direction: rtl; line-height: 150%; margin-bottom: 0cm; margin-left: 11.35pt; margin-right: 10.2pt; margin-top: 0cm; text-align: center; unicode-bidi: embed}p.aia{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; line-height: 3.0pt}p.aib{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; line-height: 3.0pt; margin-right: 3.65pt; text-align: center}h1.zq{font-weight: bold; line-height: 3.0pt; margin-bottom: 0cm; margin-left: 10.2pt; margin-right: 3.65pt; margin-top: 0cm; text-align: center}tr.ze{page-break-inside:avoid;height:20.95pt}td.zn{width:259.5pt;padding:0cm 1.4pt 0cm 1.4pt; height:20.95pt}p.aic{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; margin-left: 11.35pt; text-indent: -11.35pt}p.aid{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; line-height: 150%; margin-left: 11.35pt; text-indent: -11.35pt} td.zm{width:54.8pt;padding:0cm 1.4pt 0cm 1.4pt; height:20.95pt}td.zl{width:56.25pt;padding:0cm 1.4pt 0cm 1.4pt; height:20.95pt}td.zk{width:63.9pt;padding:0cm 1.4pt 0cm 1.4pt; height:20.95pt}td.zj{width:68.3pt;padding:0cm 1.4pt 0cm 1.4pt; height:20.95pt}td.zi{width:57.8pt;padding:0cm 1.4pt 0cm 1.4pt; height:20.95pt}td.zh{width:60.05pt;padding:0cm 1.4pt 0cm 1.4pt; height:20.95pt}td.zg{width:54.7pt;padding:0cm 1.4pt 0cm 1.4pt; height:20.95pt}td.zf{width:54.95pt;padding:0cm 1.4pt 0cm 1.4pt; height:20.95pt}p.aie{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 150%; margin-bottom: 0cm; margin-left: 10.2pt; margin-right: 3.65pt; margin-top: 0cm; text-align: center}p.aif{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 150%; margin-right: 3.65pt; text-align: center} h1.zb{line-height: 150%; margin-bottom: 0cm; margin-left: 10.2pt; margin-right: 3.65pt; margin-top: 0cm; text-align: center}p.aig{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-left:11.35pt}p.aih{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-bottom: 0cm; margin-left: 10.2pt; margin-right: 3.65pt; margin-top: 0cm; text-align: center}p.aii{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; line-height: 150%; margin-bottom: 0cm; margin-left: 10.2pt; margin-right: 3.65pt; margin-top: 0cm; text-align: center}div.yx{border:none;border-bottom:solid windowtext 1.0pt;padding:0cm 0cm 1.0pt 0cm; margin-left:10.2pt;margin-right:3.65pt}div.yw{border:none;border-bottom:solid windowtext 1.0pt;padding:0cm 0cm 1.0pt 0cm; margin-left:10.2pt;margin-right:3.7pt}p.aij{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 150%; margin-left: 11.35pt; text-align: left}h1.yu{margin-bottom: 0cm; margin-left: 10.2pt; margin-right: 3.65pt; margin-top: 0cm; text-align: center}p.aik{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-left:11.35pt;line-height:150%}h1.ys{margin-top:0cm;margin-right:11.35pt;margin-bottom:0cm; margin-left:11.35pt;margin-bottom:.0001pt;text-align:justify;line-height: 3.0pt;direction:rtl;unicode-bidi:embed} h1.yr{line-height: 3.0pt; margin-bottom: 0cm; margin-left: 10.2pt; margin-right: 3.65pt; margin-top: 0cm; text-align: center}h1.yq{line-height: 3.0pt; margin-bottom: 0cm; margin-left: 0cm; margin-right: 3.65pt; margin-top: 0cm; text-align: center}p.ail{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; margin-left: 22.7pt; text-align: left}div.yn{border:none;border-bottom:double windowtext 1.5pt;padding:0cm 0cm 1.0pt 0cm; margin-left:10.2pt;margin-right:3.65pt}h1.yo{border: none; margin: 0cm; margin-bottom: .0001pt; padding: 0cm; text-align: center}h1.yl{font-weight: bold; line-height: 150%; margin-bottom: 0cm; margin-left: 10.2pt; margin-right: 3.65pt; margin-top: 0cm; text-align: center}p.aim{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; line-height: 150%; margin-top: 6.0pt; text-decoration: underline}table.ain{margin-left:-1.4pt;border-collapse:collapse}tr.yd{page-break-inside:avoid;height:9.05pt}td.yi{width:239.6pt;padding:0cm 1.4pt 0cm 1.4pt; height:9.05pt} p.aio{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; margin-left: 22.7pt; text-align: center}td.yg{width:371.7pt;padding:0cm 1.4pt 0cm 1.4pt; height:9.05pt}p.aip{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";border: none; font-weight: bold; margin-left: 17.0pt; padding: 0cm; text-align: center; text-indent: -17.0pt}td.yf{width:121.6pt;padding:0cm 1.4pt 0cm 1.4pt; height:9.05pt}td.ye{border:none;padding:0cm 0cm 0cm 0cm}tr.xt{page-break-inside:avoid;height:26.7pt}td.yc{width:239.6pt;padding:0cm 1.4pt 0cm 1.4pt; height:26.7pt}td.yb{width:54.2pt;padding:0cm 1.4pt 0cm 1.4pt; height:26.7pt}td.ya{width:56.05pt;padding:0cm 1.4pt 0cm 1.4pt; height:26.7pt}td.xz{width:61.1pt;padding:0cm 1.4pt 0cm 1.4pt; height:26.7pt} td.xy{width:65.5pt;padding:0cm 1.4pt 0cm 1.4pt; height:26.7pt}td.xx{width:61.0pt;padding:0cm 1.4pt 0cm 1.4pt; height:26.7pt}td.xw{width:60.15pt;padding:0cm 1.4pt 0cm 1.4pt; height:26.7pt}td.xv{width:61.8pt;padding:0cm 1.4pt 0cm 1.4pt; height:26.7pt}td.xu{width:57.05pt;padding:0cm 1.4pt 0cm 1.4pt; height:26.7pt}tr.xq{page-break-inside:avoid;height:14.85pt}td.xs{width:239.6pt;padding:0cm 1.4pt 0cm 1.4pt; height:14.85pt}td.xr{width:496.1pt;padding:0cm 1.4pt 0cm 1.4pt; height:14.85pt}td.xo{width:239.6pt;padding:0cm 1.4pt 0cm 1.4pt}p.aiq{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; line-height: 3.0pt; margin-left: 22.7pt} td.xm{width:54.2pt;padding:0cm 1.4pt 0cm 1.4pt}p.air{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; line-height: 3.0pt; margin-left: 22.7pt; text-align: right}td.xl{width:56.05pt;padding:0cm 1.4pt 0cm 1.4pt}td.xk{width:61.1pt;padding:0cm 1.4pt 0cm 1.4pt}td.xj{width:65.5pt;padding:0cm 1.4pt 0cm 1.4pt}td.xi{width:61.0pt;padding:0cm 1.4pt 0cm 1.4pt}td.xh{width:60.15pt;padding:0cm 1.4pt 0cm 1.4pt}td.xg{width:61.8pt;padding:0cm 1.4pt 0cm 1.4pt}td.xf{width:57.05pt;padding:0cm 1.4pt 0cm 1.4pt}tr.wt{page-break-inside:avoid;height:13.6pt} td.xe{width:239.6pt;padding:0cm 1.4pt 0cm 1.4pt; height:13.6pt}td.xd{width:54.2pt;padding:0cm 1.4pt 0cm 1.4pt; height:13.6pt}td.xc{width:56.05pt;padding:0cm 1.4pt 0cm 1.4pt; height:13.6pt}td.xb{width:61.1pt;padding:0cm 1.4pt 0cm 1.4pt; height:13.6pt}td.xa{width:65.5pt;padding:0cm 1.4pt 0cm 1.4pt; height:13.6pt}td.wz{width:61.0pt;padding:0cm 1.4pt 0cm 1.4pt; height:13.6pt}td.wx{width:60.15pt;padding:0cm 1.4pt 0cm 1.4pt; height:13.6pt}p.ais{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; margin-bottom: 0cm; margin-left: 10.2pt; margin-right: 8.95pt; margin-top: 0cm; text-align: left}td.ww{width:61.8pt;padding:0cm 1.4pt 0cm 1.4pt; height:13.6pt}td.wu{width:57.05pt;padding:0cm 1.4pt 0cm 1.4pt; height:13.6pt} p.ait{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; margin-bottom: 0cm; margin-left: 10.2pt; margin-right: 5.85pt; margin-top: 0cm; text-align: left}tr.wj{page-break-inside:avoid;height:11.0pt}td.ws{width:239.6pt;padding:0cm 1.4pt 0cm 1.4pt; height:11.0pt}td.wr{width:54.2pt;padding:0cm 1.4pt 0cm 1.4pt; height:11.0pt}td.wq{width:56.05pt;padding:0cm 1.4pt 0cm 1.4pt; height:11.0pt}td.wp{width:61.1pt;padding:0cm 1.4pt 0cm 1.4pt; height:11.0pt}td.wo{width:65.5pt;padding:0cm 1.4pt 0cm 1.4pt;height:11.0pt}td.wn{width:61.0pt;padding:0cm 1.4pt 0cm 1.4pt;height:11.0pt}td.wm{width:60.15pt;padding:0cm 1.4pt 0cm 1.4pt;height:11.0pt}td.wl{width:61.8pt;padding:0cm 1.4pt 0cm 1.4pt; height:11.0pt} td.wk{width:57.05pt;padding:0cm 1.4pt 0cm 1.4pt; height:11.0pt}p.aiu{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";direction: rtl; line-height: 150%; margin-bottom: 0cm; margin-left: 5.65pt; margin-right: 10.2pt; margin-top: 0cm; text-align: center; unicode-bidi: embed}td.wh{width:65.5pt;padding:0cm 1.4pt 0cm 1.4pt; height:11.0pt}td.wg{width:61.0pt;padding:0cm 1.4pt 0cm 1.4pt; height:11.0pt}td.wf{width:60.15pt;padding:0cm 1.4pt 0cm 1.4pt; height:11.0pt}p.aiv{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";direction: rtl; font-weight: bold; margin-bottom: 0cm; margin-left: 5.65pt; margin-right: 22.7pt; margin-top: 0cm; text-align: center; unicode-bidi: embed}div.wd{border:none;border-bottom:solid windowtext 1.0pt;padding:0cm 0cm 1.0pt 0cm; margin-right:10.2pt;margin-left:5.65pt}div.wc{border:none;border-bottom:solid windowtext 1.0pt;padding:0cm 0cm 1.0pt 0cm; margin-right:10.2pt;margin-left:8.95pt}div.wb{border:none;border-bottom:solid windowtext 1.0pt;padding:0cm 0cm 1.0pt 0cm; margin-right:10.2pt;margin-left:5.85pt}tr.vr{page-break-inside:avoid;height:4.0pt} td.wa{width:239.6pt;padding:0cm 1.4pt 0cm 1.4pt; height:4.0pt}td.vz{width:54.2pt;padding:0cm 1.4pt 0cm 1.4pt; height:4.0pt}td.vy{width:56.05pt;padding:0cm 1.4pt 0cm 1.4pt; height:4.0pt}td.vx{width:61.1pt;padding:0cm 1.4pt 0cm 1.4pt; height:4.0pt}td.vw{width:65.5pt;padding:0cm 1.4pt 0cm 1.4pt; height:4.0pt}td.vv{width:61.0pt;padding:0cm 1.4pt 0cm 1.4pt; height:4.0pt}td.vu{width:60.15pt;padding:0cm 1.4pt 0cm 1.4pt; height:4.0pt}td.vt{width:61.8pt;padding:0cm 1.4pt 0cm 1.4pt; height:4.0pt}td.vs{width:57.05pt;padding:0cm 1.4pt 0cm 1.4pt; height:4.0pt}tr.vh{page-break-inside:avoid;height:1.0pt} td.vq{width:239.6pt;padding:0cm 1.4pt 0cm 1.4pt;height:1.0pt}td.vp{width:54.2pt;padding:0cm 1.4pt 0cm 1.4pt; height:1.0pt}td.vo{width:56.05pt;padding:0cm 1.4pt 0cm 1.4pt; height:1.0pt}td.vn{width:61.1pt;padding:0cm 1.4pt 0cm 1.4pt; height:1.0pt}td.vm{width:65.5pt;padding:0cm 1.4pt 0cm 1.4pt; height:1.0pt}td.vl{width:61.0pt;padding:0cm 1.4pt 0cm 1.4pt; height:1.0pt}td.vk{width:60.15pt;padding:0cm 1.4pt 0cm 1.4pt; height:1.0pt}td.vj{width:61.8pt;padding:0cm 1.4pt 0cm 1.4pt; height:1.0pt}td.vi{width:57.05pt;padding:0cm 1.4pt 0cm 1.4pt; height:1.0pt}div.vg{border:none;border-bottom:solid windowtext 1.0pt;padding:0cm 0cm 1.0pt 0cm; margin-right:10.2pt;margin-left:10.2pt} div.vf{border:none;border-bottom:double windowtext 1.5pt;padding:0cm 0cm 1.0pt 0cm; margin-right:10.2pt;margin-left:10.2pt}p.aiw{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-left:22.7pt;line-height:3.0pt}td.vd{border:none}td.vb{width:280.7pt;padding:0cm 1.4pt 0cm 1.4pt}td.va{width:59.55pt;padding:0cm 1.4pt 0cm 1.4pt}td.uz{width:2.85pt;padding:0cm 1.4pt 0cm 1.4pt}td.uy{width:2.9pt;padding:0cm 1.4pt 0cm 1.4pt}td.ux{width:195.6pt;padding:0cm 1.4pt 0cm 1.4pt}td.uw{width:127.55pt;padding:0cm 1.4pt 0cm 1.4pt}p.aix{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; line-height: 150%; margin-left: 22.7pt} p.aiy{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 150%; text-align: right}p.aiz{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 150%; margin-bottom: 0cm; margin-left: 8.5pt; margin-right: 8.5pt; margin-top: 0cm; text-align: center}p.aja{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-left:14.2pt;line-height:150%}tr.un{height:19.35pt}td.ur{width:280.7pt;padding:0cm 1.4pt 0cm 1.4pt; height:19.35pt}td.uq{width:59.55pt;padding:0cm 1.4pt 0cm 1.4pt; height:19.35pt}td.up{width:2.85pt;padding:0cm 1.4pt 0cm 1.4pt; height:19.35pt}td.uo{width:2.9pt;padding:0cm 1.4pt 0cm 1.4pt; height:19.35pt}p.ajb{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-left:14.2pt}div.ul{border:none;border-bottom:solid windowtext 1.0pt;padding:0cm 0cm 1.0pt 0cm; margin-left:8.5pt;margin-right:8.5pt} span.uk{position: relative;top:-3.0pt}p.ajc{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 3.0pt; text-align: center}p.ajd{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 3.0pt; margin-bottom: 0cm; margin-left: 8.5pt; margin-right: 8.5pt; margin-top: 0cm; text-align: right}span.ui{ letter-spacing:-.3pt}p.aje{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 3.0pt; margin-bottom: 0cm; margin-left: 8.5pt; margin-right: 11.35pt; margin-top: 0cm; text-align: center}p.ajf{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 150%; margin-bottom: 0cm; margin-left: 8.5pt; margin-right: 11.35pt; margin-top: 0cm; text-align: center}span.ue{font-size:10.5pt;line-height:150%}p.ajg{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 3.0pt; margin-bottom: 0cm; margin-left: 8.5pt; margin-right: 11.35pt; margin-top: 0cm; text-align: right}p.ajh{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height:15.0pt}p.aji{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 15.0pt; margin-bottom: 0cm; margin-left: 8.5pt; margin-right: 8.5pt; margin-top: 0cm; text-align: center} p.ajj{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 15.0pt; text-align: center}p.ajk{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";border: none; line-height: 150%; padding: 0cm; text-align: center}div.ty{border:none;border-bottom:solid windowtext 1.0pt;padding:0cm 0cm 1.0pt 0cm; margin-left:8.5pt;margin-right:11.35pt}p.ajl{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; margin-left: 11.35pt; text-indent: 18.3pt}span.tw{letter-spacing: -.4pt}span.tv{letter-spacing:-.4pt}p.ajm{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 3.0pt; text-align: right}p.ajn{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 3.0pt; margin-bottom: 0cm; margin-left: 14.2pt; margin-right: 14.2pt; margin-top: 0cm; text-align: right}p.ajo{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold}p.ajp{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; line-height: 150%; text-align: left} td.tr{width:286.35pt;padding:0cm 1.4pt 0cm 1.4pt}td.tq{width:59.65pt;padding:0cm 1.4pt 0cm 1.4pt}td.tp{width:195.65pt;padding:0cm 1.4pt 0cm 1.4pt}td.to{width:127.65pt;padding:0cm 1.4pt 0cm 1.4pt}td.tn{width:2.1pt;padding:0cm 1.4pt 0cm 1.4pt}td.tm{width:60.3pt;padding:0cm 1.4pt 0cm 1.4pt}p.ajq{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:150%; direction:rtl;unicode-bidi:embed}p.ajr{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-top:0cm;margin-right:0cm;margin-bottom:6.0pt; margin-left:22.7pt;text-indent:-11.35pt}p.ajs{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; margin-left: 9.0pt}span.ti{line-height:150%;font-family:"Times-Bold","serif"} tr.tb{height:16.35pt}td.th{width:286.35pt;padding:0cm 1.4pt 0cm 1.4pt; height:16.35pt}td.tg{width:59.55pt;padding:0cm 1.4pt 0cm 1.4pt; height:16.35pt}td.tf{width:2.85pt;padding:0cm 1.4pt 0cm 1.4pt; height:16.35pt}td.te{width:59.65pt;padding:0cm 1.4pt 0cm 1.4pt; height:16.35pt}td.td{width:2.1pt;padding:0cm 1.4pt 0cm 1.4pt; height:16.35pt}td.tc{width:60.3pt;padding:0cm 1.4pt 0cm 1.4pt; height:16.35pt}span.ta{ letter-spacing:-.4pt}span.sz{ letter-spacing:-.4pt}p.ajt{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height:150%} span.sy{line-height:150%;letter-spacing:-.4pt}p.aju{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";direction: rtl; font-weight: bold; margin-right: 9.0pt; text-align: justify; unicode-bidi: embed}span.sw{line-height:150%;letter-spacing: -.4pt}p.ajv{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 150%; margin-bottom: 0cm; margin-left: 11.35pt; margin-right: 11.35pt; margin-top: 0cm; text-align: center}span.sv{line-height:150%;letter-spacing:-.4pt}div.st{border:none;border-bottom:solid windowtext 1.0pt;padding:0cm 0cm 1.0pt 0cm; margin-left:11.35pt;margin-right:11.35pt}tr.sl{height:3.7pt}td.ss{width:286.35pt;padding:0cm 1.4pt 0cm 1.4pt; height:3.7pt}td.sq{width:59.55pt;padding:0cm 1.4pt 0cm 1.4pt; height:3.7pt}p.ajw{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-top:0cm;margin-right:8.5pt;margin-bottom: 0cm;margin-left:8.5pt;margin-bottom:.0001pt;line-height:3.0pt} td.sp{width:2.85pt;padding:0cm 1.4pt 0cm 1.4pt; height:3.7pt}td.so{width:59.65pt;padding:0cm 1.4pt 0cm 1.4pt; height:3.7pt}td.sn{width:2.1pt;padding:0cm 1.4pt 0cm 1.4pt; height:3.7pt}td.sm{width:60.3pt;padding:0cm 1.4pt 0cm 1.4pt; height:3.7pt}p.ajx{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 3.0pt; margin-bottom: 0cm; margin-left: 13.25pt; margin-right: 10.3pt; margin-top: 0cm; text-align: right}table.ajy{border-collapse:collapse}td.sj{width:116.9pt;padding:0cm 5.35pt 0cm 5.35pt}td.si{width:109.8pt;padding:0cm 5.35pt 0cm 5.35pt}td.sh{width:106.3pt;padding:0cm 5.35pt 0cm 5.35pt}td.sg{width:115.3pt;padding:0cm 5.35pt 0cm 5.35pt} span.se{font-size:12.0pt}p.ajz{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; text-align: center; text-decoration: underline}td.sc{width:300.5pt;padding:0cm 1.4pt 0cm 1.4pt}td.sb{width:133.4pt;padding:0cm 1.4pt 0cm 1.4pt}td.sa{width:3.95pt;padding:0cm 1.4pt 0cm 1.4pt}td.rz{width:68.6pt;padding:0cm 1.4pt 0cm 1.4pt}td.ry{width:294.85pt;padding:0cm 1.4pt 0cm 1.4pt}td.rx{width:62.4pt;padding:0cm 1.4pt 0cm 1.4pt}td.rw{width:62.55pt;padding:0cm 1.4pt 0cm 1.4pt}td.rv{width:211.55pt;padding:0cm 1.4pt 0cm 1.4pt} tr.rp{height:20.75pt}td.ru{width:294.85pt;padding:0cm 1.4pt 0cm 1.4pt; height:20.75pt}td.rt{width:2.85pt;padding:0cm 1.4pt 0cm 1.4pt; height:20.75pt}td.rs{width:62.4pt;padding:0cm 1.4pt 0cm 1.4pt; height:20.75pt}td.rr{width:62.55pt;padding:0cm 1.4pt 0cm 1.4pt; height:20.75pt}td.rq{width:69.7pt;padding:0cm 1.4pt 0cm 1.4pt; height:20.75pt}p.aka{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 150%; margin-bottom: 0cm; margin-left: 11.35pt; margin-right: 11.35pt; margin-top: 0cm; text-align: right}p.akb{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 150%; margin-bottom: 0cm; margin-left: 7.15pt; margin-right: 12.45pt; margin-top: 0cm; text-align: center}p.akc{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 150%; margin-bottom: 0cm; margin-left: 17.0pt; margin-right: 14.2pt; margin-top: 0cm; text-align: center}p.akd{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 150%; margin-bottom: 0cm; margin-left: 7.45pt; margin-right: 14.2pt; margin-top: 0cm; text-align: center} tr.rf{height:15.55pt}td.rk{width:294.85pt;padding:0cm 1.4pt 0cm 1.4pt; height:15.55pt}td.rj{width:2.85pt;padding:0cm 1.4pt 0cm 1.4pt; height:15.55pt}td.ri{width:62.4pt;padding:0cm 1.4pt 0cm 1.4pt; height:15.55pt}td.rh{width:62.55pt;padding:0cm 1.4pt 0cm 1.4pt; height:15.55pt}td.rg{width:69.7pt;padding:0cm 1.4pt 0cm 1.4pt; height:15.55pt}tr.qy{height:4.0pt}td.rd{width:294.85pt;padding:0cm 1.4pt 0cm 1.4pt; height:4.0pt}p.ake{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-left:22.7pt;line-height:150%}td.rc{width:2.85pt;padding:0cm 1.4pt 0cm 1.4pt; height:4.0pt} td.rb{width:62.4pt;padding:0cm 1.4pt 0cm 1.4pt; height:4.0pt}td.ra{width:62.55pt;padding:0cm 1.4pt 0cm 1.4pt; height:4.0pt}td.qz{width:69.7pt;padding:0cm 1.4pt 0cm 1.4pt; height:4.0pt}tr.qm{height:5.45pt}td.qw{width:294.85pt;padding:0cm 1.4pt 0cm 1.4pt; height:5.45pt}p.akf{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-left: 22.7pt; text-align: left}td.qu{width:2.85pt;padding:0cm 1.4pt 0cm 1.4pt; height:5.45pt}p.akg{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-bottom: 0cm; margin-left: 11.35pt; margin-right: 11.35pt; margin-top: 0cm; text-align: left}td.qs{width:62.4pt;padding:0cm 1.4pt 0cm 1.4pt; height:5.45pt}div.qt{border:none;border-bottom:solid windowtext 1.0pt;padding:0cm 0cm 1.0pt 0cm; margin-left:7.15pt;margin-right:12.45pt} p.akh{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-bottom: 0cm; margin-left: 17.0pt; margin-right: 14.2pt; margin-top: 0cm; text-align: center}td.qp{width:62.55pt;padding:0cm 1.4pt 0cm 1.4pt; height:5.45pt}div.qq{border:none;border-bottom:solid windowtext 1.0pt;padding:0cm 0cm 1.0pt 0cm; margin-left:17.0pt;margin-right:14.2pt}td.qn{width:69.7pt;padding:0cm 1.4pt 0cm 1.4pt; height:5.45pt}div.qo{border:none;border-bottom:solid windowtext 1.0pt;padding:0cm 0cm 1.0pt 0cm; margin-left:7.45pt;margin-right:14.2pt}p.aki{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 3.0pt; margin-bottom: 0cm; margin-left: 11.35pt; margin-right: 11.35pt; margin-top: 0cm; text-align: right}p.akj{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 3.0pt; margin-bottom: 0cm; margin-left: 7.15pt; margin-right: 12.45pt; margin-top: 0cm; text-align: center}p.akk{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 3.0pt; margin-bottom: 0cm; margin-left: 11.35pt; margin-right: 11.35pt; margin-top: 0cm; text-align: center}p.akl{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 3.0pt; margin-bottom: 0cm; margin-left: 7.45pt; margin-right: 17.0pt; margin-top: 0cm; text-align: center}p.akm{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; margin-left: 45.4pt; text-indent: -11.4pt} p.akn{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; margin-bottom: 0cm; margin-left: 11.35pt; margin-right: 11.35pt; margin-top: 0cm; text-align: right}p.ako{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-bottom: 0cm; margin-left: 7.15pt; margin-right: 12.45pt; margin-top: 0cm; text-align: center}p.akp{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-bottom: 0cm; margin-left: 7.45pt; margin-right: 14.2pt; margin-top: 0cm; text-align: center}td.qd{width:294.85pt;padding:0cm 1.4pt 0cm 1.4pt; height:3.7pt}td.qc{width:62.4pt;padding:0cm 1.4pt 0cm 1.4pt; height:3.7pt}td.qb{width:62.55pt;padding:0cm 1.4pt 0cm 1.4pt; height:3.7pt}td.qa{width:69.7pt;padding:0cm 1.4pt 0cm 1.4pt; height:3.7pt}p.akq{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-bottom: 0cm; margin-left: 11.35pt; margin-right: 11.35pt; margin-top: 0cm; text-align: right}tr.ps{height:3.15pt}td.py{width:294.85pt;padding:0cm 1.4pt 0cm 1.4pt; height:3.15pt} td.px{width:2.85pt;padding:0cm 1.4pt 0cm 1.4pt; height:3.15pt}td.pw{width:62.4pt;padding:0cm 1.4pt 0cm 1.4pt; height:3.15pt}p.akr{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 3.0pt; margin-bottom: 0cm; margin-left: 17.0pt; margin-right: 14.2pt; margin-top: 0cm; text-align: center}td.pu{width:62.55pt;padding:0cm 1.4pt 0cm 1.4pt; height:3.15pt}td.pt{width:69.7pt;padding:0cm 1.4pt 0cm 1.4pt; height:3.15pt}p.aks{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 3.0pt; margin-bottom: 0cm; margin-left: 11.35pt; margin-right: 8.5pt; margin-top: 0cm; text-align: right}p.akt{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-top:6.0pt;line-height:150%}table.aku{margin-left:-14.2pt;border-collapse:collapse}td.pp{width:266.55pt;padding:0cm 1.4pt 0cm 1.4pt}td.po{width:133.15pt;padding:0cm 1.4pt 0cm 1.4pt} td.pn{width:69.5pt;padding:0cm 1.4pt 0cm 1.4pt}td.pm{width:62.3pt;padding:0cm 1.4pt 0cm 1.4pt}td.pl{width:211.1pt;padding:0cm 1.4pt 0cm 1.4pt}p.akv{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 150%; margin-bottom: 0cm; margin-left: 14.2pt; margin-right: 17.0pt; margin-top: 0cm; text-align: right}p.akw{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 150%; margin-bottom: 0cm; margin-left: 10.05pt; margin-right: 17.0pt; margin-top: 0cm; text-align: center}p.akx{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 150%; margin-bottom: 0cm; margin-left: 14.2pt; margin-right: 17.0pt; margin-top: 0cm; text-align: center}p.aky{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 150%; margin-bottom: 0cm; margin-left: 5.35pt; margin-right: 17.0pt; margin-top: 0cm; text-align: center}div.pg{border:none;border-bottom:solid windowtext 1.0pt;padding:0cm 0cm 1.0pt 0cm; margin-left:10.05pt;margin-right:17.0pt}p.akz{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-bottom: 0cm; margin-left: 14.2pt; margin-right: 17.0pt; margin-top: 0cm; text-align: center}div.pe{border:none;border-bottom:solid windowtext 1.0pt;padding:0cm 0cm 1.0pt 0cm; margin-left:14.2pt;margin-right:17.0pt} div.pd{border:none;border-bottom:solid windowtext 1.0pt;padding:0cm 0cm 1.0pt 0cm; margin-left:5.35pt;margin-right:17.0pt}p.ala{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-top:0cm;margin-right:11.35pt;margin-bottom: 0cm;margin-left:11.35pt;margin-bottom:.0001pt;line-height:3.0pt}p.alb{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 3.0pt; margin-bottom: 0cm; margin-left: 10.05pt; margin-right: 17.0pt; margin-top: 0cm; text-align: center}p.alc{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 3.0pt; margin-bottom: 0cm; margin-left: 14.2pt; margin-right: 17.0pt; margin-top: 0cm; text-align: center}p.ald{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 3.0pt; margin-bottom: 0cm; margin-left: 5.35pt; margin-right: 17.0pt; margin-top: 0cm; text-align: center}p.ale{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-left:22.7pt}tr.op{height:13.45pt}td.ox{width:266.55pt;padding:0cm 1.4pt 0cm 1.4pt; height:13.45pt}td.ow{width:2.9pt;padding:0cm 1.4pt 0cm 1.4pt; height:13.45pt}td.ou{width:62.3pt;padding:0cm 1.4pt 0cm 1.4pt; height:13.45pt} p.alf{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-bottom: 0cm; margin-left: 10.05pt; margin-right: 17.0pt; margin-top: 0cm; text-align: center}td.ot{width:2.85pt;padding:0cm 1.4pt 0cm 1.4pt; height:13.45pt}td.os{width:62.4pt;padding:0cm 1.4pt 0cm 1.4pt; height:13.45pt}td.oq{width:69.5pt;padding:0cm 1.4pt 0cm 1.4pt; height:13.45pt}p.alg{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-bottom: 0cm; margin-left: 5.35pt; margin-right: 17.0pt; margin-top: 0cm; text-align: center}p.alh{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";text-align: right}span.on{line-height:150%; letter-spacing:-.4pt}p.ali{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-left:29.65pt;text-indent:-7.05pt}p.alj{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; margin-left: 11.35pt; text-indent: 32.5pt}div.ok{border:none;border-bottom:double windowtext 1.5pt;padding:0cm 0cm 1.0pt 0cm; margin-left:10.05pt;margin-right:17.0pt} div.oj{border:none;border-bottom:double windowtext 1.5pt;padding:0cm 0cm 1.0pt 0cm; margin-left:14.2pt;margin-right:17.0pt}div.oi{border:none;border-bottom:double windowtext 1.5pt;padding:0cm 0cm 1.0pt 0cm; margin-left:5.35pt;margin-right:17.0pt}p.alk{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-top:0cm;margin-right:17.0pt;margin-bottom: 0cm;margin-left:14.2pt;margin-bottom:.0001pt;line-height:3.0pt}tr.nz{height:2.7pt}td.og{width:266.95pt;padding:0cm 1.4pt 0cm 1.4pt; height:2.7pt}td.of{width:1.0pt;padding:0cm 1.4pt 0cm 1.4pt; height:2.7pt}td.oe{width:63.05pt;padding:0cm 1.4pt 0cm 1.4pt; height:2.7pt}td.od{width:2.85pt;padding:0cm 1.4pt 0cm 1.4pt; height:2.7pt}td.oc{width:62.4pt;padding:0cm 1.4pt 0cm 1.4pt; height:2.7pt}td.ob{width:4.45pt;padding:0cm 1.4pt 0cm 1.4pt; height:2.7pt} td.oa{width:71.5pt;padding:0cm 1.4pt 0cm 1.4pt; height:2.7pt}span.nx{text-transform:uppercase}p.all{margin-top:0cm;margin-right:4.8pt;margin-bottom:0cm;margin-left:26.95pt;margin-bottom:.0001pt;text-align:justify;line-height:150%;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; margin: 0cm; margin-bottom: .0001pt; text-align: left}p.alm{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-left:36.0pt;text-indent:-18.0pt;line-height: 150%}p.aln{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; line-height: 150%; margin-top: 6.0pt}p.alo{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-div: italic; text-align: left}p.alp{margin-top:0cm;margin-right:4.8pt;margin-bottom:0cm;margin-left:26.95pt;margin-bottom:.0001pt;text-align:justify;line-height:150%;font-size:11.0pt;font-family:"Times New Roman","serif";margin-top:6.0pt;margin-right:0cm;margin-bottom: 0cm;margin-left:0cm;margin-bottom:.0001pt}.ns{text-decoration: underline}span.nr{font-family:"Times-Italic","serif"}p.alq{margin-top:0cm;margin-right:0cm;margin-bottom:0cm;margin-left:36.0pt;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-left:35.7pt;text-indent:-17.85pt; line-height:150%} span.no{line-height: 150%;color:black}span.nn{line-height:150%; color:black}p.alr{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-left:1.0cm;text-indent:-14.15pt;line-height: 150%}p.als{margin-top:0cm;margin-right:4.8pt;margin-bottom:0cm;margin-left:26.95pt;margin-bottom:.0001pt;text-align:justify;line-height:150%;font-size:11.0pt;font-family:"Times New Roman","serif";margin:0cm;margin-bottom:.0001pt}span.nk{line-height:150%;color:black}p.alt{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-div: italic; line-height: 150%}table.alu{margin-left:34.9pt;border-collapse:collapse;border:none}tr.nb{height:19.95pt}td.ng{width:216.55pt;border:none;padding:0cm 5.4pt 0cm 5.4pt; height:19.95pt}p.alv{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 11.0pt; text-align: center} span.ni{font-size:9.0pt}td.ne{width:60.1pt;border:none;padding:0cm 5.4pt 0cm 5.4pt; height:19.95pt}span.nf{font-size:10.0pt}td.nd{width:47.7pt;border:none;padding:0cm 5.4pt 0cm 5.4pt; height:19.95pt}td.nc{width:58.25pt;border:none;padding:0cm 5.4pt 0cm 5.4pt; height:19.95pt}td.na{width:216.55pt;border:none;padding:0cm 5.4pt 0cm 5.4pt}td.mz{width:187.65pt;border:none; border-top:solid windowtext 1.0pt;padding:0cm 5.4pt 0cm 5.4pt}p.alw{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-div: italic; font-weight: bold; line-height: 115%}span.my{line-height:115%;color:black}td.mu{width:60.1pt;border:none;padding:0cm 5.4pt 0cm 5.4pt} p.alx{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height:115%}span.mw{line-height:115%}td.mt{width:47.7pt;border:none;padding:0cm 5.4pt 0cm 5.4pt}td.ms{width:58.25pt;border:none;padding:0cm 5.4pt 0cm 5.4pt}p.aly{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-left:12.8pt}span.mr{color:black}p.alz{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-left:2.0cm;line-height:3.0pt}p.ama{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-div: italic; line-height: 115%}tr.mj{height:12.95pt}td.mn{width:216.55pt;border:none;padding:0cm 5.4pt 0cm 5.4pt; height:12.95pt} td.mm{width:60.1pt;border:none;padding:0cm 5.4pt 0cm 5.4pt; height:12.95pt}td.ml{width:47.7pt;border:none;padding:0cm 5.4pt 0cm 5.4pt; height:12.95pt}td.mk{width:58.25pt;border:none;padding:0cm 5.4pt 0cm 5.4pt; height:12.95pt}p.amb{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-div: italic; line-height: 150%; margin-top: 6.0pt}td.mg{width:345.8pt;border:none;padding:0cm 5.4pt 0cm 5.4pt}p.amc{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 115%; margin-left: 12.8pt; text-align: left; text-indent: -12.8pt}span.mf{line-height: 115%;color:black}p.amd{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";border: none; line-height: 115%; padding: 0cm; text-align: center}p.ame{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-left:12.8pt;line-height:115%}td.mb{width:345.8pt;border:none;padding:0cm 5.4pt 0cm 5.4pt; height:12.95pt} p.amf{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; line-height: 115%; text-align: left}div.lz{border:none;border-bottom:double windowtext 1.5pt;padding:0cm 0cm 1.0pt 0cm}p.amg{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; line-height: 150%; margin-top: 12.0pt}p.amh{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;line-height:150%}td.lw{width:233.8pt;padding:0cm 1.4pt 0cm 1.4pt}td.lv{width:154.6pt;padding:0cm 1.4pt 0cm 1.4pt}td.lu{width:3.85pt;padding:0cm 1.4pt 0cm 1.4pt}td.lt{width:73.8pt;padding:0cm 1.4pt 0cm 1.4pt}tr.lm{height:12.15pt}td.ls{width:233.8pt;padding:0cm 1.4pt 0cm 1.4pt;height:12.15pt} td.lr{width:2.85pt;padding:0cm 1.4pt 0cm 1.4pt; height:12.15pt}td.lq{width:73.25pt;padding:0cm 1.4pt 0cm 1.4pt; height:12.15pt}td.lp{width:2.8pt;padding:0cm 1.4pt 0cm 1.4pt; height:12.15pt}td.lo{width:72.95pt;padding:0cm 1.4pt 0cm 1.4pt; height:12.15pt}td.ln{width:4.9pt;padding:0cm 1.4pt 0cm 1.4pt; height:12.15pt}tr.lg{height:12.8pt}td.lj{width:233.8pt;padding:0cm 1.4pt 0cm 1.4pt; height:12.8pt}p.ami{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 90%; margin-bottom: 0cm; margin-left: 11.35pt; margin-right: 11.35pt; margin-top: 0cm; text-align: center}span.ll{line-height:90%}td.li{width:2.85pt;padding:0cm 1.4pt 0cm 1.4pt; height:12.8pt} td.lh{width:238.35pt;padding:0cm 1.4pt 0cm 1.4pt; height:12.8pt}td.le{width:233.8pt;padding:0cm 1.4pt 0cm 1.4pt; height:12.15pt}span.lf{font-size:10.5pt}td.ld{width:154.6pt;padding:0cm 1.4pt 0cm 1.4pt; height:12.15pt}tr.ku{height:9.65pt}td.lb{width:233.8pt;padding:0cm 1.4pt 0cm 1.4pt; height:9.65pt}p.amj{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; text-align: left; text-autospace: none; text-indent: 35.45pt}td.la{width:2.85pt;padding:0cm 1.4pt 0cm 1.4pt; height:9.65pt}td.kz{width:73.25pt;padding:0cm 1.4pt 0cm 1.4pt; height:9.65pt}td.kx{width:2.8pt;padding:0cm 1.4pt 0cm 1.4pt; height:9.65pt} p.amk{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-bottom: 0cm; margin-left: 17.0pt; margin-right: 7.15pt; margin-top: 0cm; text-align: center}td.kw{width:72.95pt;padding:0cm 1.4pt 0cm 1.4pt; height:9.65pt}td.kv{width:4.9pt;padding:0cm 1.4pt 0cm 1.4pt; height:9.65pt}tr.km{height:13.65pt}td.ks{width:233.8pt;padding:0cm 1.4pt 0cm 1.4pt; height:13.65pt}p.aml{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";text-align: left; text-autospace: none; text-indent: 35.45pt}td.kr{width:2.85pt;padding:0cm 1.4pt 0cm 1.4pt; height:13.65pt}td.kq{width:73.25pt;padding:0cm 1.4pt 0cm 1.4pt; height:13.65pt}td.kp{width:2.8pt;padding:0cm 1.4pt 0cm 1.4pt; height:13.65pt}td.ko{width:72.95pt;padding:0cm 1.4pt 0cm 1.4pt; height:13.65pt} td.kn{width:4.9pt;padding:0cm 1.4pt 0cm 1.4pt; height:13.65pt}tr.kb{height:6.95pt}td.kj{width:233.8pt;padding:0cm 1.4pt 0cm 1.4pt; height:6.95pt}p.amm{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 90%; text-align: left; text-autospace: none; text-indent: 35.45pt}span.kl{line-height: 90%}td.kh{width:2.85pt;padding:0cm 1.4pt 0cm 1.4pt; height:6.95pt}p.amn{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 90%; margin-bottom: 0cm; margin-left: 17.0pt; margin-right: 7.15pt; margin-top: 0cm; text-align: center}td.kf{width:73.25pt;padding:0cm 1.4pt 0cm 1.4pt; height:6.95pt}p.amo{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";border: none; line-height: 90%; padding: 0cm; text-align: center}td.ke{width:2.8pt;padding:0cm 1.4pt 0cm 1.4pt; height:6.95pt} td.kd{width:72.95pt;padding:0cm 1.4pt 0cm 1.4pt; height:6.95pt}td.kc{width:4.9pt;padding:0cm 1.4pt 0cm 1.4pt; height:6.95pt}p.amp{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-div: italic; text-align: center; text-autospace: none; text-indent: 35.45pt}span.ka{font-size:10.5pt;font-family: "Times-Italic","serif"}div.jy{border:none;border-bottom:double windowtext 1.5pt;padding:0cm 0cm 1.0pt 0cm; margin-left:11.35pt;margin-right:11.35pt}td.jx{width:233.8pt;padding:0cm 1.4pt 0cm 1.4pt; height:2.7pt}td.jw{width:73.25pt;padding:0cm 1.4pt 0cm 1.4pt; height:2.7pt}td.jv{width:2.8pt;padding:0cm 1.4pt 0cm 1.4pt; height:2.7pt}td.ju{width:72.95pt;padding:0cm 1.4pt 0cm 1.4pt; height:2.7pt}td.jt{width:4.9pt;padding:0cm 1.4pt 0cm 1.4pt; height:2.7pt} table.amq{margin-left:-5.4pt;border-collapse:collapse;border:none}td.js{width:157.65pt;border:none;padding:0cm 5.4pt 0cm 5.4pt; height:19.95pt}td.jr{width:44.65pt;border:none;padding:0cm 5.4pt 0cm 5.4pt; height:19.95pt}td.jq{width:47.05pt;border:none;padding:0cm 5.4pt 0cm 5.4pt; height:19.95pt}td.jp{width:65.3pt;border:none;padding:0cm 5.4pt 0cm 5.4pt; height:19.95pt}td.jn{width:47.75pt;border:none;padding:0cm 5.4pt 0cm 5.4pt; height:19.95pt}div.jo{border:none;border-bottom:solid windowtext 1.0pt;padding:0cm 0cm 0cm 0cm}td.jm{width:157.65pt;border:none;padding:0cm 5.4pt 0cm 5.4pt}td.jl{width:308.05pt;border:none; padding:0cm 5.4pt 0cm 5.4pt}td.jk{width:44.65pt;border:none;border-top:solid windowtext 1.0pt; padding:0cm 5.4pt 0cm 5.4pt} td.jj{width:47.05pt;border:none;border-top:solid windowtext 1.0pt; padding:0cm 5.4pt 0cm 5.4pt}td.ji{width:60.1pt;border:none;border-top:solid windowtext 1.0pt; padding:0cm 5.4pt 0cm 5.4pt}td.jh{width:65.3pt;border:none;border-top:solid windowtext 1.0pt; padding:0cm 5.4pt 0cm 5.4pt}td.jg{width:47.75pt;border:none;border-top:solid windowtext 1.0pt; padding:0cm 5.4pt 0cm 5.4pt}td.jf{width:44.65pt;border:none;padding:0cm 5.4pt 0cm 5.4pt}td.je{width:47.05pt;border:none;padding:0cm 5.4pt 0cm 5.4pt}td.jd{width:65.3pt;border:none;padding:0cm 5.4pt 0cm 5.4pt}td.jc{width:47.75pt;border:none;padding:0cm 5.4pt 0cm 5.4pt}div.jb{border:none;border-bottom:solid windowtext 1.0pt;padding:0cm 0cm 1.0pt 0cm; margin-right:2.85pt;margin-left:-.85pt}p.amr{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 150%; text-align: left} span.iz{font-size:9.0pt;line-height:150%}td.iy{width:157.65pt;border:none;padding:0cm 5.4pt 0cm 5.4pt; height:12.95pt}td.ix{width:44.65pt;border:none;padding:0cm 5.4pt 0cm 5.4pt; height:12.95pt}td.iw{width:47.05pt;border:none;padding:0cm 5.4pt 0cm 5.4pt; height:12.95pt}td.iv{width:65.3pt;border:none;padding:0cm 5.4pt 0cm 5.4pt; height:12.95pt}td.iu{width:47.75pt;border:none;padding:0cm 5.4pt 0cm 5.4pt; height:12.95pt}td.is{width:170.15pt;padding:0cm 0cm 0cm 0cm}td.ir{width:2.0cm;padding:0cm 0cm 0cm 0cm}td.iq{width:70.85pt;padding:0cm 0cm 0cm 0cm}td.ip{width:78.0pt;padding:0cm 0cm 0cm 0cm} p.ams{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 11.0pt; text-align: left}td.in{width:318.95pt;padding:0cm 0cm 0cm 0cm}p.amt{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-div: italic}div.il{border:none;border-bottom:double windowtext 1.5pt;padding:0cm 0cm 1.0pt 0cm; margin-left:7.0pt;margin-right:6.85pt}p.amu{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-div: italic; line-height: 3.0pt; text-align: center}p.amv{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-bottom: 0cm; margin-left: 7.0pt; margin-right: 6.85pt; margin-top: 0cm; text-align: center}table.amw{width:485.2pt;margin-left:-5.4pt;border-collapse:collapse;border:none}tr.ic{height:24.05pt}td.ii{width:157.65pt;border:none;padding:0cm 5.4pt 0cm 5.4pt; height:24.05pt}td.ih{width:45.9pt;border:none;padding:0cm 5.4pt 0cm 5.4pt; height:24.05pt} td.ig{width:44.85pt;border:none;padding:0cm 5.4pt 0cm 5.4pt; height:24.05pt}td.if{width:60.1pt;border:none;padding:0cm 5.4pt 0cm 5.4pt; height:24.05pt}td.ie{width:68.2pt;border:none;padding:0cm 5.4pt 0cm 5.4pt; height:24.05pt}td.id{width:43.7pt;border:none;padding:0cm 5.4pt 0cm 5.4pt; height:24.05pt}td.ib{width:305.95pt;border:none; padding:0cm 5.4pt 0cm 5.4pt}td.ia{width:45.9pt;border:none;border-top:solid windowtext 1.0pt; padding:0cm 5.4pt 0cm 5.4pt}td.hz{width:44.85pt;border:none;border-top:solid windowtext 1.0pt; padding:0cm 5.4pt 0cm 5.4pt}td.hy{width:68.2pt;border:none;border-top:solid windowtext 1.0pt; padding:0cm 5.4pt 0cm 5.4pt}td.hx{width:43.7pt;border:none;border-top:solid windowtext 1.0pt; padding:0cm 5.4pt 0cm 5.4pt}td.hw{width:45.9pt;border:none;padding:0cm 5.4pt 0cm 5.4pt} td.hv{width:44.85pt;border:none;padding:0cm 5.4pt 0cm 5.4pt}td.hu{width:68.2pt;border:none;padding:0cm 5.4pt 0cm 5.4pt}td.ht{width:43.7pt;border:none;padding:0cm 5.4pt 0cm 5.4pt}table.amx{width:491.9pt;margin-left:-7.1pt;border-collapse:collapse;border:none}td.hp{width:159.35pt;border:none;padding:0cm 5.4pt 0cm 5.4pt; height:24.05pt}p.amy{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";line-height: 11.0pt; margin-left: 8.5pt; text-align: center; text-indent: -8.5pt}span.hr{font-size: 9.0pt}td.ho{width:46.7pt;border:none;padding:0cm 5.4pt 0cm 5.4pt; height:24.05pt}td.hn{width:47.05pt;border:none;padding:0cm 5.4pt 0cm 5.4pt; height:24.05pt}td.hm{width:59.9pt;border:none;padding:0cm 5.4pt 0cm 5.4pt; height:24.05pt} td.hl{width:66.6pt;border:none;padding:0cm 5.4pt 0cm 5.4pt; height:24.05pt}td.hk{width:47.5pt;border:none;padding:0cm 5.4pt 0cm 5.4pt; height:24.05pt}td.hj{width:159.35pt;border:none;padding:0cm 5.4pt 0cm 5.4pt}td.hi{width:310.95pt;border:none; padding:0cm 5.4pt 0cm 5.4pt}tr.hb{height:14.7pt}td.hh{width:159.35pt;border:none;padding:0cm 5.4pt 0cm 5.4pt; height:14.7pt}td.hg{width:46.7pt;border:none;border-top:solid windowtext 1.0pt; padding:0cm 5.4pt 0cm 5.4pt;height:14.7pt}td.hf{width:47.05pt;border:none;border-top:solid windowtext 1.0pt; padding:0cm 5.4pt 0cm 5.4pt;height:14.7pt}td.he{width:59.9pt;border:none;border-top:solid windowtext 1.0pt; padding:0cm 5.4pt 0cm 5.4pt;height:14.7pt}td.hd{width:66.6pt;border:none;border-top:solid windowtext 1.0pt; padding:0cm 5.4pt 0cm 5.4pt;height:14.7pt} td.hc{width:47.5pt;border:none;border-top:solid windowtext 1.0pt; padding:0cm 5.4pt 0cm 5.4pt;height:14.7pt}td.ha{width:46.7pt;border:none;padding:0cm 5.4pt 0cm 5.4pt}td.gz{width:59.9pt;border:none;padding:0cm 5.4pt 0cm 5.4pt}td.gy{width:66.6pt;border:none;padding:0cm 5.4pt 0cm 5.4pt}td.gx{width:47.5pt;border:none;padding:0cm 5.4pt 0cm 5.4pt}table.amz{margin-left:-7.1pt;border-collapse:collapse}p.ana{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";text-align: center; text-indent: -14.2pt}td.gu{width:56.6pt;padding:0cm 0cm 0cm 0cm}td.gt{width:71.05pt;padding:0cm 0cm 0cm 0cm}td.gs{width:77.9pt;padding:0cm 0cm 0cm 0cm} td.gr{width:56.8pt;padding:0cm 0cm 0cm 0cm}td.gq{width:319.05pt;padding:0cm 0cm 0cm 0cm}p.anb{margin:0cm;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; line-height: 150%; margin-bottom: 0cm; margin-left: 28.1pt; margin-right: 0cm; margin-top: 6.0pt; text-indent: -28.1pt}p.anc{margin-top:0cm;margin-right:0cm;margin-bottom:0cm;margin-left:36.0pt;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight: bold; line-height: 150%; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 6.0pt; text-indent: -18.0pt}p.and{margin-top:0cm;margin-right:0cm;margin-bottom:0cm;margin-left:36.0pt;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-left:0cm;line-height:150%}p.ane{margin-top:0cm;margin-right:0cm;margin-bottom:0cm;margin-left:36.0pt;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-top:6.0pt;margin-right:0cm; margin-bottom:0cm;margin-left:0cm;margin-bottom:.0001pt;line-height:150%}p.anf{margin-top:0cm;margin-right:0cm;margin-bottom:0cm;margin-left:36.0pt;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-top:0cm;margin-right:4.95pt; margin-bottom:0cm;margin-left:18.0pt;margin-bottom:.0001pt;text-indent:-18.0pt; line-height:150%}span.gk{font-size:12.0pt;line-height:150%}p.ang{margin-top:0cm;margin-right:0cm;margin-bottom:0cm;margin-left:36.0pt;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-top:0cm;margin-right:4.95pt; margin-bottom:0cm;margin-left:18.0pt;margin-bottom:.0001pt;line-height:150%}p.anh{margin-top:0cm;margin-right:0cm;margin-bottom:0cm;margin-left:36.0pt;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-left:18.0pt;line-height:150%} p.ani{margin-top:0cm;margin-right:0cm;margin-bottom:0cm;margin-left:36.0pt;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-left:18.0pt;text-indent:-18.0pt; line-height:150%}p.anj{margin-top:0cm;margin-right:0cm;margin-bottom:0cm;margin-left:36.0pt;margin-bottom:.0001pt;text-align:justify;font-size:11.0pt;font-family:"Times New Roman","serif";margin-left:18.0pt;text-indent:-18.0pt; line-height:150%} /**/
RNS Number : 4404U
MTI Wireless Edge Limited
25 November 2019
 

Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR)

25 November 2019 

MTI Wireless Edge Ltd

("MTI" or the "Company")

Financial results for the nine months ended 30 September 2019

 

MTI Wireless Edge Ltd (AIM: MWE), the technology group focused on comprehensive communication and radio frequency solutions across multiple sectors, today announces its unaudited results for the nine months ended 30 September 2019.

Highlights

·     Revenues increased by 12% to $29.0m (nine months ended 30 September 2018: $25.9m)

·     Operating profit increased 33% to $2.5m (nine months ended 30 September 2018: $1.9m)

·     Profit before tax increased 44% to $2.43m (nine months ended 30 September 2018: $1.7m)

·     Earnings per share increased 30% to 2.36 US cents (nine months ended 30 September 2018: 1.8 US cents)

·     Shareholder's equity grew during the period to $21.5m (30 September 2018: $19.9m), equivalent to 19 pence per share*

·     Cash flow from operations increased 155% year-on-year to $3.96m (nine months ended 30 September 2018: $1.55m) providing a net cash balance of $6.2m on 30 September 2019

* Converted at 1.28 US Dollar/1 British Pound.

 

Moni Borovitz, CEO of MTI, commented:

"We continued to perform in accordance with our business plan, delivering significant revenue growth and increased profitability, whilst at the same time converting this growth into operating cash flow.

In 2019, we have seen significant growth in the Company's order book across all three of our business divisions, being: the Antenna Division, the Water Control & Management Division and the Distribution & Professional Consulting Services Division.

The integration of the newly acquired (50%) distributor for water management solutions in Australia is going well and has already increased our profitability in the third quarter of 2019.  We are now focused on expanding Mottech's business across the continent and further into China following a substantial contract win in May.

Our Distribution & Professional Consulting Services Division continues to show remarkable revenue growth this year, as projects that we have designed solutions for have started to mature, and we expect to see more design wins convert into revenue in the future.

We are seeing substantial demand for 5G antenna solutions and we continue to make solid progress in the testing of our 5G antenna offering with OEM vendors as mobile operators plan and implement their network upgrades. We believe that this demand for 5G broadband has the potential to provide substantial future growth for our business.

We are very positive about the outlook for the business. Key drivers for the business are showing positive trends, including the demand for efficient water management solutions, increased defence budgets and the demand for broadband, provide us with confidence in meeting our goals of increasing revenue, profits and free cash flow".

 

For further information please contact:

 

MTI Wireless Edge Ltd                                                               +972 3 900 8900

Moni Borovitz, CEO                                      http://www.mtiwirelessedge.com

 

Allenby Capital Limited (Nomad and Joint Broker)            +44 20 3328 5656

Nick Naylor

Alex Brearley

 

Peterhouse Capital Limited (Joint Broker)                           +44 20 7469 0930

Lucy Williams

Eran Zucker

 

Novella (Financial PR)                                                              +44 20 3151 7008

Tim Robertson

Fergus Young

 

 

About MTI Wireless Edge Ltd

Headquartered in Israel, MTI is a technology group focused on comprehensive communication and radio frequency solutions across multiple sectors through three core divisions:

Antenna Division

MTI is a world leader in the design, development and production of high quality, state-of-the-art, and cost-effective antenna solutions including Smart Antennas, MIMO Antennas and Dual Polarity Antennas for wireless applications. MTI supplies antennas for both military and commercial markets from 100 KHz to 90 GHz.

Internationally recognized as a producer of commercial off-the-Shelf and custom-developed antenna solutions in a broad frequency range, MTI addresses both commercial and military applications.

MTI supplies directional and omnidirectional antennas for outdoor and indoor deployments, including smart antennas for WiMAX, Broadband access, public safety, RFID, base stations and terminals for the utility market.

Military applications include a wide range of broadband, tactical and specialized communication antennas, antenna systems and DF arrays installed on numerous airborne, ground and naval, including submarine, platforms worldwide.

Water Control & Management Division

Via its subsidiary, Mottech Water Solutions Ltd ("Mottech"), MTI provides high-end remote control solutions for water and irrigation applications based on Motorola's IRRInet state-of-the-art control, monitoring and communication technologies.

As Motorola's global prime-distributor Mottech serves its customers worldwide through its international subsidiaries and a global network of local distributors and representatives. With over 25 years of experience in providing customers with irrigation remote control and management, Mottech's solutions ensure constant, reliable and accurate water usage, while reducing operational and maintenance costs. Mottech's activities are focused in the market segments of agriculture, water distribution, municipal and commercial landscape as well as wastewater and storm-water reuse.

Distribution & Professional Consulting Services Division

Via its subsidiary, MTI Summit Electronics Ltd., MTI offers consulting, representation and marketing services to foreign companies in the field of RF and Microwave solutions and applications including engineering services (including design and integration) in the field of aerostat systems and the ongoing operation of Platform subsystems, SIGINT, RADAR, communication and observation systems which is performed by the Company.

 

 

 

MTI WIRELESS EDGE LTD.

(An Israeli Corporation)

 

INTERIM CONSOLIDATED STATEMENTS OF

COMPREHENSIVE INCOME

 

 

Nine month period ended

 September 30,

 

Year ended December 31,

 

2019

 

2018*

 

2018

 

U.S. $ in thousands

 

Unaudited

 

 

 

 

 

 

 

 

Revenues

29,004

 

25,892

 

35,471

Cost of sales

19,537

 

17,153

 

23,420

 

 

 

 

 

 

Gross profit

9,467

 

8,739

 

12,051

Research and development expenses

890

 

813

 

1,090

Distribution expenses

3,118

 

3,102

 

4,277

General and administrative expenses

2,976

 

2,949

 

3,767

Profit from sale of property, plant and equipment

8

 

-

 

(7)

 

 

 

 

 

 

Profit from operations

2,491

 

1,875

 

2,924

Finance expenses

156

 

223

 

288

Finance income

(101)

 

(38)

 

(14)

 

 

 

 

 

 

Profit before income tax

2,436

 

1,690

 

2,650

Tax expenses

358

 

119

 

321

 

 

 

 

 

 

Profit

2,078

 

1,571

 

2,329

Other comprehensive income (loss) net of tax:

 

 

 

 

 

Items that will not be reclassified to profit or loss:

 

 

 

 

 

Re-measurement of defined benefit plans

-

 

-

 

22

 

 

 

 

 

 

Items that may be reclassified to profit or loss:

 

 

 

 

 

Adjustment arising from translation of financial statements of foreign operations

(25)

 

(203)

 

(229)

 

 

 

 

 

 

Total other comprehensive income (loss)

(25)

 

(203)

 

(207)

 

 

 

 

 

 

Total comprehensive income

2,053

 

1,368

 

2,122

 

 

 

 

 

 

Profit attributable to:

 

 

 

 

 

Owners of the parent

2,052

 

1,563

 

2,337

Non-controlling interests

26

 

8

 

(8)

 

 

 

 

 

 

 

2,078

 

1,571

 

2,329

Total comprehensive income (loss) attributable to:

 

 

 

 

 

Owners of the parent

2,027

 

1,360

 

2,130

Non-controlling interests

26

 

8

 

(8)

 

2,053

 

1,368

 

2,122

 

 

 

 

 

 

Earnings per share (dollars)

 

 

 

 

 

Basic

0.0236

 

0.0181

 

0.0270

Diluted

0.0236

 

0.0180

 

0.0269

 

 

 

 

 

 

Weighted average number of shares outstanding

 

 

 

 

 

Basic

87,125,159

 

86,405,168

 

86,565,298

Diluted

87,125,159

 

86,845,032

 

86,986,917

 

 

 

 

 

 

(*) comparative numbers were adjusted to reflect the merger, refer to note 5A.

The accompanying notes form an integral part of the financial statements.

 

 

 

MTI WIRELESS EDGE LTD.

 (An Israeli Corporation)

 

INTERIM CONSOLIDATED STATEMENTS OF

CHANGES IN EQUITY

 

For the nine month period ended September 30, 2019 (Unaudited):

 

Attributed to owners of the parent

 

 

 

Share capital

Additional paid-in capital

Capital reserve

for share-based

payment

transactions

Translation differences

Retained earnings

Total attributable to owners of the  parent

Non-controlling interest

Total equity

 

U.S. $ in thousands

 

 

 

 

 

 

 

 

 

Balance at January 1, 2019

205

22,388

366

(124)

(2,195)

20,640

375

21,015

 

 

 

 

 

 

 

 

 

Changes during the nine month period

    ended September 30, 2019:

 

 

 

 

 

 

 

 

Comprehensive income

 

 

 

 

 

 

 

 

Profit for the period

-

-

-

-

2,052

2,052

26

2,078

Other comprehensive loss

 

 

 

 

 

 

 

 

Translation differences

-

-

-

(25)

-

(25)

-

(25)

 

 

 

 

 

 

 

 

 

Total comprehensive income (loss) for the period

-

-

-

(25)

2,052

2,027

26

2,053

Dividend

-

-

-

-

(1,306)

(1,306)

-

(1,306)

Non-controlling Interest of newly purchased subsidiary

-

-

-

-

-

-

402

402

Exercise of options to share capital

2

111

(24)

-

-

89

-

89

Issuance of treasury shares (note 5C)

-

18

-

-

-

18

-

18

Share based payment

-

-

6

-

-

6

-

6

 

 

 

 

 

 

 

 

 

Balance at September 30, 2019

207

22,517

348

(149)

(1,449)

21,474

803

22,277

 

 

 

 

 

 

 

 

 

 

The accompanying notes form an integral part of the financial statements.

 

 

 

INTERIM CONSOLIDATED STATEMENTS OF

CHANGES IN EQUITY (CONT.)

 

For the nine month period ended September 30, 2018* (Unaudited):

 

Attributed to owners of the parent

 

 

 

Share capital

Additional paid-in capital

Capital reserve

for share-based

payment

transactions

Translation differences

Retained earnings

Total attributable to owners of the  parent

Non-controlling interest

Total equity

 

U.S. $ in thousands

 

 

 

 

 

 

 

 

 

Balance at January 1, 2018

200

21,716

352

105

(2,781)

19,592

383

19,975

 

 

 

 

 

 

 

 

 

Changes during the nine month period

    ended September 30, 2018:

 

 

 

 

 

 

 

 

Comprehensive income

 

 

 

 

 

 

 

 

Profit for the period

-

-

-

-

1,563

1,563

8

1,571

Other comprehensive loss

 

 

 

 

 

 

 

 

Translation differences

-

-

-

(203)

-

(203)

-

(203)

 

 

 

 

 

 

 

 

 

Total comprehensive income (loss) for the period

-

-

-

(203)

1,563

1,360

8

1,368

Dividend

5

672

-

-

(1,773)

(1,096)

-

(1,096)

Share based payment

-

-

11

-

-

11

-

11

 

 

 

 

 

 

 

 

 

Balance at September 30, 2018

205

22,388

363

(98)

(2,991)

19,867

391

20,258

 

 

 

 

 

 

 

 

 

 

 (*) comparative numbers were adjusted to reflect the merger, refer to note 5A.

 

The accompanying notes form an integral part of the financial statements.

 

 

 

INTERIM CONSOLIDATED STATEMENTS OF

CHANGES IN EQUITY (CONT.)

 

For the year ended December 31, 2018 *:

 

Attributable to owners of the parent

 

 

 

Share capital

Additional paid-in capital

Capital Reserve from share-based payment transactions

Translation differences

Retained earnings

Total attributable to owners of the  parent

Non-controlling interests

Total equity

 

U.S. $ in thousands

 

 

 

 

 

 

 

 

 

 

Balance as at January 1, 2018

200

21,716

352

105

(2,781)

19,592

383

19,975

 

 

 

 

 

 

 

 

 

Changes during 2018:

 

 

 

 

 

 

 

 

Comprehensive income

 

 

 

 

 

 

 

 

Profit for the year

-

-

-

-

2,337

2,337

(8)

2,329

Other comprehensive income

 

 

 

 

 

 

 

 

Re measurements on defined benefit plans

-

-

-

-

22

22

-

22

Translation differences

-

-

-

(229)

-

(229)

-

(229)

 

 

 

 

 

 

 

 

Total comprehensive income (loss) for the year

-

-

-

(229)

2,359

2,130

(8)

2,122

Dividend

5

672

-

-

(1,773)

(1,096)

-

(1,096)

Share based payment

-

-

14

-

-

14

-

14

Balance as at December 31, 2018

205

22,388

366

(124)

(2,195)

20,640

375

21,015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

                   

 

(*) comparative numbers were adjusted to reflect the merger, refer to note 5A.

 

The accompanying notes form an integral part of the financial statements.

 

 

 

MTI WIRELESS EDGE LTD.

 (An Israeli Corporation)

 

INTERIM CONSOLIDATED STATEMENTS OF

FINANCIAL POSITION

 

 

30.09.2019

 

30.09.2018

 

31.12.2018

 

U.S. $ in thousands

 

Unaudited

 

 

ASSETS

 

 

 

 

 

CURRENT ASSETS:

 

 

 

 

 

Cash and cash equivalents

6,732

 

5,348

 

5,401 

Trade and other receivables

9,882

 

11,282

 

9,591

Unbilled revenue

2,111

 

737

 

2,271

Tax receivables

644

 

494

 

153

Inventories

5,510

 

5,363

 

6,005

 

 

 

 

 

 

 

24,879

 

23,224

 

23,421

 

 

 

 

 

 

 

 

 

 

 

 

NON-CURRENT ASSETS:

 

 

 

 

 

Long term prepaid expenses

34

 

34

 

32

Property, plant and equipment

5,293

 

4,244

 

4,245

Deferred tax assets

638

 

495

 

687

Intangible assets

1,129

 

912

 

881

 

 

 

 

 

 

 

7,094

 

5,685

 

5,845

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

31,973

 

28,909

 

29,266

 

 

 

 

 

 

 

The accompanying notes form an integral part of the financial statements.

 

 

 

MTI WIRELESS EDGE LTD.

 (An Israeli Corporation)

 

INTERIM CONSOLIDATED STATEMENTS OF

FINANCIAL POSITION

 

 

30.09.2019

 

30.09.2018

 

31.12.2018

 

U.S. $ In thousands

 

Unaudited

 

 

LIABILITIES AND EQUITY

 

 

 

 

 

CURRENT LIABILITIES:

 

 

 

 

 

Current maturities and short term bank credit and loans

299

 

998

 

581

Trade payables

4,941

 

3,860

 

3,998

Other accounts payable

3,015

 

2,511

 

2,532

Tax payables

119

 

18

 

12

 

 

 

 

 

 

 

8,374

 

7,387

 

7,123

 

 

 

 

 

 

NON- CURRENT LIABILITIES:

 

 

 

 

 

Lease liabilities

222

 

-

 

-

Loans from banks, net of current maturities

226

 

511

 

427

Contingent liability

69

 

-

 

-

Employee benefits, net

805

 

753

 

701

 

 

 

 

 

 

 

1,322

 

1,264

 

1,128

 

 

 

 

 

 

Total liabilities

9,696

 

8,651

 

8,251

 

 

 

 

 

 

EQUITY

 

 

 

 

 

Equity attributable to owners of the parent

 

 

 

 

 

Share capital

207

 

205

 

205

Additional paid-in capital

22,517

 

22,388

 

22,388

Capital reserve from share-based payment transactions

348

 

363

 

366

Translation differences

(149)

 

(98)

 

(124)

Retained earnings

(1,449)

 

(2,991)

 

(2,195)

 

 

 

 

 

 

 

21,474

 

19,867

 

20,640

 

 

 

 

 

 

Non-controlling interest

803

 

391

 

375

 

 

 

 

 

 

Total equity

22,277

 

20,258

 

21,015

 

 

 

 

 

 

Total equity and liabilities

31,973

 

28,909

 

29,266

 

 

 

 

 

 

             

 

November 25, 2019

 

 

 

Date of approval of financial statements

Moshe Borovitz

Chief Executive Officer

Elhanan Zeira

Controller

Zvi Borovitz

Chairman of the Board

 

The accompanying notes form an integral part of the financial statements.

 

 

 

MTI WIRELESS EDGE LTD.

 (An Israeli Corporation)

 

INTERIM CONSOLIDATED STATEMENTS OF

CASH FLOWS

 

 

Nine month period  ended

 September 30,

 

Year ended December 31,

 

 

2019

 

2018*

 

2018

 

 

U.S. $ in thousands

 

 

Unaudited

 

 

Cash Flows from Operating Activities:

 

 

 

 

 

 

Profit for the period

 

2,078

 

1,571

 

2,329

Adjustments for:

 

 

 

 

 

 

Depreciation and amortization

 

735

 

428

 

589

Gain from investments in financial assets

 

-

 

(29)

 

(29)

Gain from sale of property, plant and equipment

 

(8)

 

(3)

 

(7)

Equity settled share-based payment expense

 

6

 

11

 

14

Finance (income) expenses, net

 

(2)

 

(17)

 

(11)

Tax expense (income)

 

358

 

119

 

321

Changes in operating assets and  liabilities:

 

 

 

 

 

 

Decrease (increase) in inventories

 

707

 

37

 

(634)

Decrease (increase) in trade receivables

 

116

 

(357)

 

(58)

Decrease (increase) in other accounts receivables and prepaid expenses

 

(80)

 

247

 

70

Increase (decrease) in trade and other accounts payables

 

689

 

(353)

 

(111)

Increase (decrease) in employee benefits, net

 

104

 

19

 

(11)

 

 

 

 

 

 

 

Cash from operations

 

4,703

 

1,673

 

2,462

 

 

 

 

 

 

 

Interest received

 

28

 

40

 

40

Interest paid

 

(45)

 

(46)

 

(70)

Income tax paid

 

(726)

 

(112)

 

(171)

 

 

 

 

 

 

 

Net cash provided by operating activities

 

3,960

 

1,555

 

2,261

 

 

 

 

 

 

 

               

(*) comparative numbers were adjusted to reflect the merger, refer to note 5A.

 

The accompanying notes form an integral part of the financial statements.

 

 

 

INTERIM CONSOLIDATED STATEMENTS OF

CASH FLOWS (cont.)

 

 

 

Nine month period ended

 September 30,

 

Year ended December 31,

 

 

 

2019

 

2018*

 

2018

 

 

 

U.S. $ in thousands

 

 

 

Unaudited

 

 

 

Cash Flows From Investing Activities:

 

 

 

 

 

 

 

Acquisition of subsidiary, net of cash acquired

 

(23)

 

-

 

-

 

Proceeds from sale of investments in financial assets, net

 

-

 

2,040

 

2,040

 

Proceeds from sale of property, plant and equipment

 

8

 

28

 

39

 

Purchase of property, plant and equipment

 

(554)

 

(348)

 

(515)

 

 

 

 

 

 

 

 

 

Net cash provided by (used in) investing activities

 

(569)

 

1,720

 

1,564

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash Flows From Financing Activities:

 

 

 

 

 

 

 

Dividend

 

(1,306)

 

(1,773)

 

(1,773)

 

Payments of lease liabilities

 

(385)

 

-

 

-

 

Proceeds from exercise of share options

 

89

 

-

 

-

 

Issuance of treasury shares

 

18

 

-

 

-

 

Share issuance due to the merger

 

-

 

677

 

677

 

Short term loan from banks

 

-

 

264

 

(21)

 

Long term loan received from banks

 

-

 

112

 

120

 

Repayment of long-term loan from banks

 

(483)

 

(668)

 

(878)

 

 

 

 

 

 

 

 

 

Net cash used in financing activities

 

(2,067)

 

(1,388)

 

(1,875)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Increase in cash and

cash equivalents during the period 

 

1,324

 

1,887

 

1,950

 

Cash and cash equivalents

 at the beginning of the period

 

5,401

 

3,508

 

3,508

 

Exchange differences on balances of cash and cash equivalents

 

7

 

(47)

 

(57)

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 at the end of the period

 

6,732

 

5,348

 

5,401

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

                       

 (*) comparative numbers were adjusted to reflect the merger, refer to note 5A.

 

The accompanying notes form an integral part of the financial statements.

 

 

 

MTI WIRELESS EDGE LTD.

(An Israeli Corporation)

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

 

Note 1 - General:

Corporate information:

M.T.I Wireless Edge Ltd. (hereafter - the "Company", or collectively with its subsidiaries, the "Group") is an Israeli corporation. The Company was incorporated under the Companies Act in Israel on December 30, 1998, and commenced operations on July 1, 2000. Since March 2006, the Company's shares have been traded on the AIM market of the London Stock Exchange.

The formal address of the Company is 11 Hamelacha Street, Afek industrial Park, Rosh-Ha'Ayin, Israel.

The Company and its subsidiaries are engaged in the following areas:

-     Development, design, manufacture and marketing of antennas for the military and civilian sectors.

-     A leading provider of remote control solutions for water and irrigation applications based on Motorola's IRRInet state of the art control, monitoring and communication technologies.

-     Providing consulting, representation and marketing services to foreign companies in the field of RF and Microwave, including engineering services in the field of aerostat systems and system engineering services.

The Company included the results of its aerostat system division in its representation and consulting services division, as it deems this appropriate given the nature of the consulting services provided in both segments and the respective size of these segments.

 

Note 2 - Significant Accounting Policies:

The interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles for the preparation of financial statements for interim periods, as prescribed in International Accounting Standard No. 34 ("Interim Financial Reporting").

The interim consolidated financial information set out above does not constitute full year-end accounts within the meaning of Israeli Companies Law. It has been prepared on the going concern basis in accordance with the recognition and measurement criteria of the International Financial Reporting Standards (IFRS). Statutory financial information for the financial year ended December 31, 2018 was approved by the board on March 10, 2019. The report of the auditors on those financial statements was unqualified.

The interim consolidated financial statements as of September 30, 2019 have not been audited.

The interim consolidated financial information should be read in conjunction with the annual financial statements as of December 31, 2018 and for the year then ended and with the notes thereto. The significant accounting policies applied in the annual financial statements of the Company as of December 31, 2018 are applied consistently in these interim consolidated financial statements. Except for the adoption of new standards effective as of 1 January 2019.

 

New IFRSs adopted in the period

-     IFRS 16 Leases

The Group has adopted IFRS 16 retrospectively from 1 January 2019, but has not restated comparatives for the 2018 reporting period, as permitted under the specific transitional provisions in the standard. The reclassifications and the adjustments arising from the new leasing rules are therefore recognized in the opening balance sheet on 1 January 2019.

The main impact of adopting the standard early is the elimination of existing requirement on lessees to classify leases as operating lease (off-balance sheet) or finance lease, and they are now required to use a single accounting model for all leases, similarly to how finance leases are currently accounted for. In agreements where the Group is the Lessee, it applies IFRS 16 using a single accounting model under which it recognizes a right-of-use asset and a lease liability upon inception of the lease contract. It does so for all leases in which the Group has right to control the use of identified assets for a period of time in exchange for consideration. Accordingly, the Group recognizes depreciation and depreciation charges on the right-of-use asset and tests the need for recognizing impairment of the right-of-use asset in compliance with IAS 36 "Impairment of Assets", and also recognizes finance expenses in relation to a lease liability. Therefore, beginning on first-time adoption, rent expenses relating to properties rented under operating leases, are now presented as assets that are depreciated through depreciation and depreciation assets.

For all leases, the Group applied the transitional provisions such that it initially recognized a liability at the commencement day at an amount equal to the present value of the lease payments during the lease, discounted using the effective interest rate as of that date, and concurrently recognized a right-of-use asset at an amount identical to the liability. As a result, the standard had no impact on equity and the retained earnings of the Group as at initial application. 

As part of the initial application, the Group elected to adopt the following practical expedients, as permitted by the standard:

a. The use of a single discount rate for a portfolio of leases with similar characteristics;

b. Not separating lease and non-lease components of a contract, and instead accounting for all components as a single lease;

c. Excluding initial direct costs from the measurement of the right-of-use asset as at initial application;

d. Use of hindsight in determining the lease term where the contract contains options to extend or terminate the lease;

 

New IFRSs adopted in the period (cont.) 

The following new significant accounting policy for agreements in which the Group is the lessee was applied beginning on 1 January 2019 following initial application of the standard: 

Right-of-use assets: 

The Group recognizes right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and any accumulated impairment losses, and adjusted for any re-measurement of lease liabilities. The cost of right-of-use assets incurred, and lease payments made at or before the commencement date less any lease incentives received. The cost of right-of-use assets comprises the amount of the initial measurement of the lease liability; lease payments made at or before the commencement date less any lease incentives received; and initial direct costs incurred. The recognized right-of-use assets are depreciated on a straight-line basis over the shorter of its estimated useful life and the lease term. Right-of-use assets are subject to impairment. The right-of-use assets are presented within property, plant and equipment.

Lease liabilities:

At the commencement date of the lease, the Group recognizes lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments (including in substance fixed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Group and payments of penalties for terminating a lease, if the lease term reflects the Group exercising the option to terminate.

The variable lease payments that do not depend on an index or a rate are recognized as expense in the period on which the event or condition that triggers the payment occurs.

Lease term:

The term of a lease is determined as the non-cancellable period for which a lessee has the right to use an underlying asset, together with both periods covered by an option to extend the lease if the lessee is reasonably certain to exercise that option periods covered by an option to terminate the lease if the lessee is reasonably certain not to exercise that option.

Depreciation of a right-of-use asset: 

Subsequent to the inception of the lease, a right-of-use asset is measured using the cost method, less accumulated depreciation and accumulated impairment losses, and is adjusted for re-measurements of the lease liability. Depreciation is measured using the straight-line method over the useful life or contractual lease term, whichever ends earlier.

Lessees will be also required to re-measure the lease liability upon the occurrence of certain events (e.g., a change in the lease term, a change in future lease payments resulting from a change in an index or rate used to determine those payments). The lessee will recognize the amount of the re-measurement of the lease liability as an adjustment to the right-of-use asset, until the carrying amount is reduced to zero.

The following table presents a summary of the impact on the interim consolidated statement of financial position as of 1 January 2019, assuming that the previous accounting policy of the Group for leases would have continued in that period.

 

The impact on the interim consolidated statement of financial position as of January 1, 2019 (Unaudited):

 

Under

previous

policy

The change

Under

IFRS 16

 

U.S. $ in thousands

Non-current assets:

 

 

 

Property, plant and equipment

4,245

920

5,165

 

 

 

 

Current liabilities:

 

 

 

Other accounts payable

2,532

452

2,984

 

 

 

 

Non-current liabilities:

 

 

 

Lease liabilities

-

468

468

 

 

 

 

 

Upon initial adoption, the Group measured the right-of-use assets in an amount equal to the lease liabilities, adjusted for any related prepaid and accrued lease payments previously recognized. Lease liabilities were measured at the present value of the remaining lease payments, discounted using the incremental borrowing rate at the date of initial application. There was no impact on retained earnings upon initial adoption of the standard.  

The following is a reconciliation of the Company's liabilities in respect of operating leases disclosed in the financial statements as of December 31, 2018, discounted at the incremental interest rate on the initial implementation date and lease commitments recognized on 1 January 2019 (Unaudited):

 

U.S. $ in thousands

 

 

Operating lease commitments as of December 31, 2018

970

 

 

Weighted average incremental borrowing rate as of January 1, 2019

4.8%

 

 

Discounted operating lease commitments

920

 

 

Lease liabilities as of January 1, 2019

920

 

 

 

Note 3 - REVENUES:

 

 

Nine month period  ended 

    September 30,

 

Year ended December 31,

 

 

 

2019

 

2018

 

2018

 

 

U.S. $ in thousands

 

 

Unaudited

 

 

Revenues arise from:

 

 

 

 

 

 

Sale of goods

 

23,803

 

20,162

 

27,734

Rendering of services

 

3,161

 

3,130

 

4,209

Projects

 

2,040

 

2,600

 

3,528

 

 

29,004

 

25,892

 

35,471

 

 

 

 

 

 

 

                 

 

 

Note 4 - operating SEGMENTS:

The following tables present revenue and profit information regarding the Group's operating segments for the nine month period ended September 30, 2019 and 2018 respectively and for the year ended December 31, 2018.

Nine month period ended September 30, 2019 (Unaudited)

 

Antennas

Water Solutions

Distribution & Consultation

Total

 

U.S. $ in thousands

Revenues

 

 

 

 

 

External

8,903

11,979

8,122

-

29,004

Internal

-

-

118

(118)

-

 

 

 

 

 

 

Total

8,903

11,979

8,240

(118)

29,004

 

 

 

 

 

 

 

 

 

 

 

 

Segment profit (loss)

317

1,170

867

137

2,491

 

 

 

 

 

 

Finance expense, net

 

 

 

 

55

Tax expenses

 

 

 

 

358

 

 

 

 

 

 

Profit

 

 

 

 

2,078

 

 

 

 

 

 

 

 

Antennas

Water Solutions

Distribution & Consultation

Adjustment & Elimination

Total

 

U.S. $ in thousands

 

 

 

 

 

 

Segment assets

13,700

9,481

5,076

-

28,257

 

 

 

 

 

 

Unallocated assets

 

 

 

3,716

3,716

 

 

 

 

 

 

Segment liabilities

3,030

1,913

2,717

-

7,660

 

 

 

 

 

 

Unallocated liabilities

 

 

 

 

2,036

 

 

 

 

 

 

 

Nine month period ended September 30, 2018 (Unaudited)

 

Antennas

Water Solutions

Distribution & Consultation

Adjustment & elimination

Total

 

U.S. $ in thousands

Revenues

 

 

 

 

 

External

9,360

10,567

5,965

-

25,892

Internal

-

-

189

(189)

-

 

 

 

 

 

 

Total

9,360

10,567

6,154

(189)

25,892

 

 

 

 

 

 

 

 

 

 

 

 

Segment profit

403

971

445

56

1,875

 

 

 

 

 

 

Finance expense, net

 

 

 

 

185

Tax expenses (income)

 

 

 

 

119

 

 

 

 

 

 

Profit

 

 

 

 

1,571

 

 

 

 

 

 

 

 

Antennas

Water Solutions

Distribution & Consultation

Adjustment & Elimination

Total

 

U.S. $ in thousands

 

 

 

 

 

 

Segment assets

14,251

8,444

3,824

-

26,519

 

 

 

 

 

 

Unallocated assets

 

 

 

 

2,390

 

 

 

 

 

 

Segment liabilities

3,607

1,989

2,156

-

7,752

 

 

 

 

 

 

Unallocated liabilities

 

 

 

 

899

 

 

 

 

 

 

 

Year ended December 31, 2018

 

Antennas

Water Solutions

Distribution & Consultation

Adjustment & Elimination

Total

 

U.S. $ in thousands

Revenues

 

 

 

 

 

External

12,670

14,298

8,503

-

35,471

Inter-segment

-

-

238

(238)

-

 

 

 

 

 

 

Total

12,670

14,298

8,741

(238)

35,471

 

 

 

 

 

 

 

 

 

 

 

 

Segment profit

630

1,395

728

171

2,924

 

 

 

 

 

 

Finance expense, net

 

 

 

 

274

Tax expenses

 

 

 

 

321

 

 

 

 

 

 

Profit

 

 

 

 

2,329

 

 

 

 

 

 

 

 

Year ended December 31, 2018

 

Antennas

Water Solutions

Distribution & Consultation

Adjustment & Elimination

Total

 

U.S. $ in thousands

 

 

 

 

 

 

Segment assets

13,800

8,772

3,232

-

25,804

 

 

 

 

 

 

Unallocated assets

 

 

 

 

3,462

 

 

 

 

 

 

Segment liabilities

3,651

2,025

1,953

-

7,629

 

 

 

 

 

 

Unallocated liabilities

 

 

 

 

622

 

 

 

 

 

 

 

 

Note 5 - SIGNIFICANT EVENTS:

A.  Merger

During March 2018 the Company announced that it was in preliminary discussions with its majority shareholder, MTI Computers & Software Services (1982) Ltd ("MTIC"), regarding a potential merger between the two companies. MTIC, whose shares were listed on the Tel Aviv Stock Exchange, at that point held 53.2% of the Company's issued ordinary shares. Following the announcement in March 2018, on 1 May , 2018 the Company announced that it had entered into a merger agreement (the "Merger Agreement") with its majority shareholder, MTIC and the Company together being the "Merging Companies", according to which, and in accordance with the provisions of Sections 350-351 of the Israeli Companies Law, 5759-1999 (the "Companies Law"), as a court approved scheme of arrangement between the Company, MTIC and their shareholders (the "Scheme of Arrangement"), MTIC was to be merged into the Company in a statutory merger, so that MTIC would be dissolved and all of its activities, assets and liabilities, subject to certain qualifications, would be transferred to the Company in consideration for the allotment of new ordinary shares of the Company and the transfer of MTIC's existing holdings in the Company, to all of MTIC's shareholders (the "Merger").

The Merger did not constitute a business combination within the scope of IFRS 3 and accordingly is treated by the Company in the financial statements as a pooling of interest. According to this method, the Company prepared its financial statements in order to reflect as if the Merger was in effect as of the establishment of the Company, while making the adjustments as follows:

The capital balance of the transferred activities was classified in the statement of changes in equity as part of the additional paid-in capital. Dividend distribution to the owners prior to the date of the merger were classified to the statement of changes in equity as retained earnings.

As consideration for the Merger, the Company allocated to the shareholders of MTIC 31,600,436 new ordinary shares in the Company, subject to a Conversion Ratio Mechanism (as defined below). In addition, MTIC's existing holdings in the Company were also transferred to all of the shareholders in MTIC, pro rata to their holdings of shares in MTIC.

On the date of record for the Merger the Company allocated to the shareholders of MTIC (the "Date of Record for the Merger" and the "Shareholders of MTIC" respectively) 31,600,436 new ordinary shares in the Company, according to the Conversion Ratio (as defined below) as of the date of the Merger Agreement, subject to the Conversion Ratio Mechanism (as defined below) (the "Allotted Shares") and transferred them, together with MTIC's Holdings in the Company (the "Sold Shares"), to all of the shareholders in MTIC, pro rata to their holdings of shares in MTIC on the Date of Record for the Merger, according to the Conversion Ratio. 

With respect to the Merger Agreement, the "Conversion Ratio" - a ratio of 5.2689055 Sold Shares for each share in MTIC as of the date of entry into the Merger Agreement, was determined according to a valuation of the business activities of MTIC and the Company, on the basis of the consolidated and audited financial statements for the year ended 31 December 2017 of each company as valued by an independent appraiser (the "Appraiser"), was subject to updates, as necessary, according to the Conversion Ratio Mechanism (as defined below). According to the aforesaid valuation, which constituted part of the Merger Agreement (the "Valuation"), the equity ratio as of 31 December 2017, between the value of MTIC excluding MTIC's holdings in the Company (approximately US$ 10.7 million as of 31 December 2017) when compared with the value of the Company (approximately US $ 18.8 million as at 31 December 2017) was approximately 1.75: in favor of the Company.

The Merger was completed on 20 August 2018.  Following completion of the Merger, the Conversion Ratio was not adjusted in accordance with the Conversion Ratio Mechanism (5.26891) and none of the options granted by the Company were exercised, and accordingly on completion of the Merger, the issued share capital of the Company was 87,038,724 ordinary shares.

B.   On 11 March 2019, the Board of directors declared a cash dividend of 1.5 US cents per share, representing approximately $1,306,000 in total. This dividend was paid on 5 April 2019 to shareholders on the register at the close of trading on 22 March 2019.

C.   On 24 January 2019 the Company announced a share repurchase programme to conduct market purchases of ordinary shares of par value 0.01 Israeli Shekels each ("Ordinary Shares") in the Company up to a maximum value of £150,000 (the "Programme"). The Programme is managed by Peterhouse Capital Limited ("Peterhouse Capital"). The Company has entered into an arrangement with Peterhouse Capital in relation to the Programme, where Peterhouse Capital will make the trading decisions concerning the timing of the market purchases of Ordinary Shares independently of and uninfluenced by the Company, with such trading decisions being in line with the terms of the Programme. Purchases may continue during any prohibited periods of the Company, as defined by the Market Abuse Regulation 596/2014/EU ("MAR"), which may fall during the term of the Programme.  The Company reserves the right to bring a halt to the Programme under circumstances that it deems to be appropriate, provided that it is permissible for this to occur in compliance with MAR.

The Programme commenced on 28 January 2019 and was to continue until no later than 26 July 2019. Ordinary Shares acquired as a result of the Programme will be held by MTI Engineering and in accordance with the Israeli Companies Law, 1999 will not have any voting rights. An objective of the Programme is that Ordinary Shares acquired by MTI Engineering will be resold, provided that this occurs under circumstances that the Board of MTI deems to be appropriate and in compliance with MAR. Cash generated from any eventual resales of Ordinary Shares acquired by MTI Engineering under the Programme will be credited to a share dealing account held with a third party, which will be under the direction of Peterhouse Capital and such cash may be used by Peterhouse Capital to make future purchases of Ordinary Shares under the Programme. On 30 May 2019, MTI Engineering sold  entire holding that it had accumulated up until that date through the Programme, at a price of 23.5 pence per share generating a profit of $21,000, which was recorded in additional paid-in-capital. The funds received from the sale were returned into the share dealing account held with a third party, which will be under the direction of Peterhouse Capital and such cash may be used by Peterhouse Capital to make future purchases of Ordinary Shares under the Programme.

On 24 July 2019, the Company announced that the board of directors of the Company and the board of directors of MTI Engineering had decided to continue with the Programme for another six months until 26 January 2020. On 21 August 2019, MTI Engineering again sold the entire holding that it had accumulated up until that date through the Programme (after purchasing Ordinary Shares in July and August 2019), at a price of 22.2 pence per share, generating a loss of $3,000, which was recorded in additional paid-in-capital. During September 2019, the Company announced that MTI Engineering had purchased 300,000 Ordinary Shares under the Programme and as at the date of this report, a total of 300,000 Ordinary Shares are held by MTI Engineering under the Programme.

D.  During April 2019, the Company's Chairman and the Chief Executive Officer, exercised options over 450,000 shares in exchange for a total consideration of approximately $56,000.

E.   On 24 June 2019 the Company announced that Mottech Water Solution Ltd ("Mottech"), has entered into a share purchase agreement to acquire 50% of Parkland Australia Pty Ltd ("Parkland Australia"), a value added reseller of Mottech's solutions in Australia, for a consideration of up to 0.8m Australian dollars ("AUD") (approximately US$0.55m).  0.6m AUD (US$0.41m) of the consideration have been paid upon closing and the reminder in two tranches by July 2020 and July 2021 based on the financial performance of Parkland Australia in FY 2020 and FY 2021 (ending 30 June 2020 and 2021 respectively) (the "Acquisition"). The Acquisition was completed on 30 July 2019. The consideration for the acquisition of Parkland Australia is not viewed as a material expenditure for the Company.

F.   During July 2019, employees of the Company exercised options over 250,000 Ordinary Shares in exchange for a total consideration of approximately $33,000.

 

-ENDS-

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
QRTKLLFLKFFBFBL

Quick facts: MTI Wireless Edge Limited

Price: 39.145

Market: AIM
Market Cap: £34.4 m
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Capital Network analyst on MTI Wireless Edge's water management acquisition

Capital Network analyst Ed Stacey discusses MTI Wireless Edge Ltd's (LON:MWE) decision to buy a 50% stake in one of the main resellers of its Mottech Water Solution in Australia. The addition of Parkland Australia for up to AU$0.8mln is expected to enhance earnings and offer potential to...

on 06/27/2019

RNS

Exercise of options

1 week, 5 days ago

Contract Win

2 weeks, 4 days ago

Total Voting Rights

4 weeks ago

Exercise of options

on 12/04/2019

Contract win

on 11/06/2019