Sorry havent got much information on this one yet so if you are interested please please do your own research to compliment the information I have been given. Sorry just back from holiday.

I dont think techs are in fashion at the moment but this company could just have the contracts awaiting to be announced that could really put it on the map.

Citywire yesterday gave out this news....

Telit chief executive Oozi Cats told Citywire that the company should have a dramatic announcement with one of the worlds biggest companies in the next couple of weeks for its data product business, and another with one of the biggest mobile operators in Europe for its latest branded 3G phones.

Telit has two distinct divisions, both built on its know-how and expertise in mobile communications. The first supplies non-branded handsets to mobile phone operators and retailers. The second, the data products division, supplies a radio frequency GSM engine that enables machine-to-machine communication over mobile networks. ENDS.

Well its obviously very speculative but might be just worth a punt.

More information when I recieve it.

Please DYOR.

cheers Gf.

PS, its well below its placing price aswell.

Further bad news .........

Telit CEO takes leave of absence pending investigation
At 9:53am: (LON:TCM) Telit Communications PLC share price was -65.125p at 117.125p

Telit Communications' chief executive Oozi Cats has taken a leave of absence after speculation rose about his historical indictments in the US.

The company said the matters are unrelated to Telit and significantly pre-date its establishment.

Telit has appointed independent solicitors to review the matter.

Yosi Fait, finance director and president, will serve as interim CEO.

more................

Telit: CEO Cats takes leave of absence after US indictment emerges

** Telit CEO Oozi Cats has taken a leave of absence after it emerged he was indicted for a mortgage fraud in the US in the 1990s

** Israeli Cats was accused by a Boston court in 1992 of being part of a "land flip" scheme that bought and sold properties at grossly inflated prices in order to take out fraudulent mortgages, court documents seen by Reuters show

** An arrest warrant for Cats was issued under an alternative translation of his name, Uzi Katz, but the CEO was never detained

** The case against Cats was dismissed in 2006, according to the documents

** In a statement Telit said it had appointed independent solicitors to review the case, but said it was unconnected to the company's operations

** Its shares were down 23 pct following the news on Wednesday

** Cats is also under investigation by Italian authorities over his role in the collapse of Italian electronics manufacturer BAMES

** Telit has been a target of short-sellers, who have questioned the company's profitability and management

** Four long-term shorts have been joined in recent days by two US funds, Leucadia and Wellington, according to regulatory filings. At 13.3 pct, short positions hit an all-time high on Tuesday, making the company by far the most shorted stock on London's AIM index

** Telit's shares fell by a third on Monday after the company reported a shock loss for the first half of the year

Bought a few of these @ 124.5p

and more .........

LONDON, Aug 9 (Reuters) - The chief executive of technology
firm Telit has taken a leave of absence after the
London-listed company said it had discovered he had been
indicted in the United States 25 years ago over an alleged
mortgage fraud.

Telit said in a regulatory statement on Wednesday that it
had been made aware of the indictment against CEO Oozi Cats,
which was later dismissed, and had appointed a law firm to
review the matter, which it said was "unrelated to Telit and
significantly pre-date(s) its establishment".

Cats, who could not immediately be contacted on Wednesday,
was alleged in a Boston federal court in 1992 to have been
involved in a "land flip" scheme that bought and sold properties
at inflated prices in order to take out fraudulent mortgages,
copies of court documents reviewed by Reuters show.
An arrest warrant for Cats was issued under an alternative
spelling of his name, Uzi Katz, but he was never detained,
according to the court documents.

Although the case against Cats was dismissed in 2006, it was
not mentioned in the company's prospectus when it listed on
London's Alternative Investment Market (AIM) in 2005.
Telit gave no further detail, but a source close to the
company said its inquiry will focus on whether Cats' past had
been adequately disclosed to the board and investors. It is
expected to conclude within the next few weeks.

Shares in Telit fell by as much as 45 percent on Wednesday,
taking its losses for the week to 60 percent after the company
posted a shock interim loss on Monday. [nL5N1KT1A4]
Telit, whose products and services connect devices to apps
and enterprise systems, was until recently one of the largest
stocks on AIM and has a number of high profile shareholders,
including Norway's state pension fund Norges Bank Investment
Management and Allianz Global Investors.

It has also secured tens of millions of euros in
low-interest loans and grants from the Italian ministry for
economic development to run research facilities in the country,
according to Telit's latest annual report.

But Telit has also seen elevated levels of short-selling -
where investors sell borrowed shares, hoping to buy them back
later at a lower price and pocket the difference - with 13.3
percent of its shares out on loan to hedge funds, according to
regulatory filings, by far the highest on the AIM index.

Cats, who sold around a third of his shares in Telit in May
for 24 million pounds, told Reuters in March there was "not one
single economic reason" for hedge funds to bet against the firm.

On Monday Cats bought 400,000 Telit shares for 687,000
pounds.

Where is my crystal ball.

Post in FT

https://www.ft.com/content/09157fa3-4607-3c5d-9fbc-0a84c72fd0b7

Internet-of-things specialist Telit Communications has said its chief executive will take a leave of absence while it investigations allegations he is a fugitive from a fraud indictment in the US.

On Tuesday morning Telit said that its board of directors had “appointed independent solicitors to conduct a thorough review of this matter.” It added that the board had agreed to Oozi Cats’ own request for a leave of absence while the lawyers probe the allegations.

A report in Italy’s il Fatto Quotidiano suggested that Mr Cats was indicted by the district court in Boston, Massachusetts in 1992 on counts of wire fraud.

Shares in the company, which was valued at more than £500m on London’s junior AIM exchange earlier this year after it rode a wave of investor excitement about Iot technology, fell by a third on Wednesday morning.

Telit sells hardware that it says enables devices from concrete-mixer trucks to parking meters to communicate wirelessly. Its share price hit an all time high of 375p in April, having more than quadrupled in the preceding three years.

The stock has fallen by 54 per cent since August 4. Telit warned on revenues on August 7, saying US certification of some of its products had been delayed.

Records from the district court of Boston, Massachusetts show that an individual named Uzi Katz was indicted on January 8 1992 for wire fraud, and a warrant was put out for his arrest. The records also refer to the defendant as a “fugitive”.

It remains unclear whether the person named in the court documents is the Telit chief executive. A person close to the company confirmed the chief executive sometimes spells his name as “Uzi Katz”.

This person added that the company knew no more than what was publicly available, adding that its lawyers hoped to conclude their investigations into the matter by the end of the week.

Telit’s stock has been volatile since May, when Mr Cats sold off more than 7m shares in the company, raising in excess of £24m. A person close to the company said he had sold the shares to repay personal loans he had taken out in US dollars, following a sharp fall in the value of sterling relative to the US currency. Mr Cats could not be reached for comment.

Breaking yesterday's intraday highs and resistance since 130p........

Share magazine today's article

Connectivity kit designer Telit Communications (TCM:AIM) saw its share price smashed on a half year plunge into the red, cuts to growth targets and an axed dividend. That disappointment sent the stock crashing from 257.5p on 7 August to 150p, bouncing to 172.5p the following day.

Delays in getting appropriate certifications for new products in the US, a spike in research, development and working capital costs and hints that large scale deployments may be delayed did the damage.

Squeezed cash leaves the company with $9m of net debt versus net cash expectations. This comes just two months after the company raised $50m of new funding at 340p per share. Analysts at Canaccord believe previous acquisition plans will now have to be out on hold.

We believe serious questions about the company’s future as an independent are now likely to be asked. Telit sees its growth future in supplying high margin services to the potentially enormous internet of things connected environment. Yet around 90% of its revenue still comes from mobile, wi-fi and narrowband wireless hardware sales, according to the respected technology website TechMarketView, where sales cycles can be long and unpredictable.

Almost every large mobile network operator, telecoms supplier and IT services companies all jockeying for market share in the internet of things space, Telit may find its future may be as part of a much bigger and financially powerful organisation

Strong finish

that is right very good for you and for ME, got some slightly better 123.94p on a T+10

not shorters over here like in other places to fight, I already put my fingers on their eyes at two posters somewhere else.

142.25p + 5p (+3.64%) had a high of 145p earlier

Another movement up on a very depressed market

Today decided to have a higher price 145p and then retracement
The opening lower spike was signaling that

The pause at around 128p and a stronger order book on the bid side, augurs better thing to come from this point after the retracement
DEPTH of
72 v 58 ( earlier was 59 v 63 )

134.50p +10.75p

Telit Communications PLC - Resignation of CEO and Board to be reinforced

Telit Communications PLC (AIM: TCM, "Telit", the "Group"), a global enabler of the Internet of Things (IoT), announces that Oozi Cats, has resigned from the Board and his employment with immediate effect. The independent review has found that the evidence shows that an indictment was issued against Oozi Cats in the US and that this fact was knowingly withheld from advisers. Yosi Fait will continue as interim Chief Executive Officer.

The Board intends to appoint three additional independent non-executive directors as soon as practicable to reinforce it, one of whom will become Chairman. It is expected that the non-executive appointments will be UK based and have previous PLC Board experience. The Nominations Committee has appointed Korn Ferry to conduct this search.

It is a source of considerable anger to the Board that the historical indictment against Oozi Cats was never disclosed to them or previous members of the Board and that they have only been made aware of its existence through third parties.

The Board is now moving on from this difficult situation and will continue to deliver on its stated strategy under the interim leadership of Yosi Fait. He will be conducting a preliminary review of the Group's activities and cost base.

The Board has engaged with its major stakeholders over the last week and is confident in the strategic and operational strength of the business. The Board reiterates the guidance it gave to the market on 7 August 2017 and intends to make a further announcement on progress during the course of September 2017.

The Board is also aware of additional speculation from third parties relating to Telit's financial condition, trading performance and business relationships and has considered that speculation in detail.

The Board confirms that there is no substance to the speculative and accusatory articles that have been published and that it stands behind the Group's audited accounts to 31 December 2016 and the most recently published interim statement.

Specifically the Board is satisfied with the status of its distributors which contributed approximately 24% of Group revenues in the year ended 31 December 2016 with the ten largest accounting for approximately 61% of the total distributor turnover.

The Board also notes the comments with respect to Bartolini After Market Electronic Services Srl, or BAMES, which relate to matters that commenced in 2007 and ended with the insolvency of BAMES in 2013 (although the Group's involvement with BAMES ended in 2010, as fully disclosed in the Company's financial statements). The investigation mentioned in recent publications is in a preliminary, non-public stage but given the recent speculation the Board confirms that should any charges be levelled against the Group (or its associates in place of the Group), it intends to defend its position vigorously and considers that any action would be without merit.

Looking for 145p today

That was the Intraday high last Friday, before more shorts where taken as the gossip got hold of negative commens on the "Sunday Tmes".

But they got the fire down below, with the positive news today

On 145p
Ready for take off!

Some resistance as expected around the 145p, so has been trying to go over 3 times now, some are trying to stoped it at this point

Leucadia and Lombard reducing short positions today.

Down to 12.44% from +13% total positions.

RNS - Davide Renato Ugo Serra crossed 3%, 4%

before 3,652,882
now 5,198,782 - 4%

Who is the man building a 4% stake ........

Mr. Davide Renato Ugo Serra is a Co-Founder, Founding Partner, Investment Advisor and Chief Executive Officer at Algebris Investments (UK) LLP. Prior to this.
Mr. Serra served as a Managing Director, Global Banks Team Coordinator and Research Analyst at Morgan Stanley, Research Division.
He headed the European banks research team at the firm. From 1995 to 2000, Mr. Serra was a Senior Analyst at UBS Investment Bank, Research Division. He catered to banks sector research ...

134.50p +3.50p after reaching 137.25p

The latest on shorts
We are starting to see the first signs of reduction from the historical data - this only includes data up to last Thursday 10th August.

Http://shorttracker.co.uk/company/GB00B06GM726/all

It looks likes some of the longs already cash in yesterday, and the shorts are running out of puff.

it seems 129p is a support at the moment, it tried yesterday and again this morning. but fail to go under.

Since the low of 101p to the Intraday high today 146.25p
then the 38.2% retracement
is @ 129p

Tradegate - gives prices after close in Euros

Sold for a good profit yesterday.