BUZZ-Telit: slides after announcing regulatory probe

** Internet of things (Frankfurt: 7IT.F - news) company Telit falls 9 pct after announcing UK regulator the Financial Conduct Authority (FCA) is investigating the "timeliness" of several matters included in Telit's H1 results in August 2017

** August 5's profit warning was preceded by a share placing and significant share sales by management

** Telit raised £39m in a placing 3 months before the warning

** Former CEO Oozi Cats, who resigned in August after he was found to be a fugitive in a US mortgage fraud case, sold a third of his stake on May 24

** Current CEO Yosi Fait also sold stock weeks before the warning

** Sky News reported in November https://news.sky.com/story/regulator-launches-probe-into-scandal-hit-tech-company-telit-11109645 an expected FCA investigation was set to include examining the timing and disclosures relating to Cats' May share sale, along with several other transactions

** Telit declined to comment further on the specifics of the FCA's current investigation