TCM

Directors Removed But One Reappointed at Telit

More interesting events at the Telit Communications (TCM) AGM yesterday. This is a company that has been through troubled times of late with the departure of former CEO Oozi Cats under a cloud and lots of questions about their accounts being raised. But events at the AGM were even more surprising when the Chairman Richard Kilsby and two other non-executive directors were voted off the board on a poll. The meeting lasted all of ten minutes apparently. Existing non-executive director Simon Duffy ...

Telit: Warning Signs in the Remuneration Report

Today the CEO, Cats, has left Telit. Trust between shareholders and the company is fundamental. Cats lied to the company and the company failed to disclose relevant information to its shareholders. Cats was paid $3.37 million in 2016 made up of $1.63m salary and bonus of $1.74m. ShareSoc remuneration guidelines suggest £300k to £500k as a guideline for a company of this size c £250 million turnover. Cats owned 16 million shares and also has share options. So, such a large pay package ...

The Internet of Things – Telit and Tern

The Internet of Things – Telit and Tern Please note that views expressed in this article are those of the author and do not necessarily  represent those of ShareSoc. Most investors in AIM will have noted the unfolding news at Telit Communications (TCM) last week. It has culminated today with an announcement from the company that CEO Oozi Cats (a.k.a. Uzi Katz) has resigned after an independent review did indeed find that he was the subject of a US indictment 25 years ago ...
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