viewTelit Communications PLC

Telit says FCA has expanded the scope of its investigation

Since the events in question, Telit Communications has cleaned house

The investigation by the FCA was announced on 27 March

The Financial Conduct Authority (FCA) has expanded the scope of its investigation into the timeliness of stock market announcements by Telit Communications Plc (LON:TCM).

The FCA had announced in March of this year it would examine the industrial Internet of Things company’s announcement of certain matters included in its interim results on 7 August 2017; it has now indicated it will consider the accuracy of earlier announcements by Telit, including its trading update of 25 April 2017 and the announcement of a placing of shares, which was announced on 4 May 2017.

READ Telit Communications confirms FCA investigation into timeliness of reporting

Telit said it has cooperated fully with the FCA in its enquiries to date and noted that all of the events being looked into by the City watchdog took place when Telit had a completely different set of directors.

Quick facts: Telit Communications PLC

Price: 131 GBX

Market: AIM
Market Cap: £174.27 m

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