13D Filing: Fundamental Global Investors, LLC and Relm Wireless Corp (RWC)

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CUSIP No. 759525108 13D

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The Reporting Persons
may in the future acquire additional shares of Common Stock of the Company or dispose of some or all of the shares of Common Stock
of the Company held by them in open-market transactions or privately negotiated transactions, on such terms and at such times as
the Reporting Persons may deem advisable, subject to applicable law.

Item 5. Interest in Securities of the Issuer.

(a) The Reporting Persons
beneficially own in the aggregate 4,689,365 shares of Common Stock, which represents approximately 33.9% of the Company’s
outstanding shares of Common Stock.

Each of FGPP, FGPM,
FGHP, FGGM and BTN directly holds the number and percentage of shares of Common Stock disclosed as beneficially owned by it in
the applicable table set forth on the cover page to this Statement. None of the other Reporting Persons or, to the Reporting Persons’
knowledge, any individuals identified on Schedule A to this Statement directly hold any of the shares of Common Stock disclosed
in this Statement, except as described below and except for Mr. Charles T. Lanktree, a director of BTN, who may be deemed to beneficially
own 7,916 shares of Common Stock, 214 of which are held by him and 7,702 of which are held by a trust of which Mr. Lanktree’s
wife is a trustee. In addition, Mr. Ferguson holds 440 shares of Common Stock as a customer of CWA, which are included in the number
of shares of Common Stock reported in this Statement as beneficially held by CWA.

CWA, in its role as
investment advisor for customer accounts, Fundamental Global Investors, LLC, as a 50% owner of CWA, and Messrs. Beynon, Cerminara,
Ferguson and Johnson, as managers of CWA, may each be deemed to beneficially own the number of shares of Common Stock held in the
CWA’s customer accounts and disclosed as beneficially owned by CWA in the applicable table set forth on the cover page to
this Statement. Each of Fundamental Global Investors, LLC and Messrs. Beynon, Cerminara, Ferguson and Johnson expressly disclaims
such beneficial ownership.

Mr. Moglia directly
owns 228,583 shares of Common Stock and an additional 128,293 shares of Common Stock through The Moglia Family Foundation.

On July 6, 2015, as
director compensation, Mr. Cerminara was granted stock options to purchase 5,000 shares of Common Stock at an exercise price of
$4.66 per share, which options became exercisable on June 7, 2016. On May 18, 2016, as director compensation, Messrs. Cerminara
and Johnson was each granted stock options to purchase 5,000 shares of Common Stock at an exercise price of $4.55 per share, which
options became exercisable on April 19, 2017.

Each percentage ownership
of shares of Common Stock set forth in this Statement is based on the 13,844,584 shares of Common Stock reported by the Company
as outstanding as of May 1, 2017 in its Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May
9, 2017.

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