REG - Ethernity Networks - Amendment to Structured Investment Deed

Ethernity NetworksAnnouncement

30/10/2024 14:45

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RNS Number : 2797K  Ethernity Networks Ltd  30 October 2024

30 October 2024

 

ETHERNITY NETWORKS LTD.

 

("Ethernity" or the "Company")

 

Amendment to Structured Investment Deed

 

Ethernity Networks Ltd (AIM: ENET.L), a leading supplier of data processing
semiconductor technology for networking appliances, announces that it has
today entered into a deed of variation ("Deed of Variation") to the Structured
Investment Deed (the "Investment Deed") with New Technology Capital Group, LLC
("New Tech"), the details of which were announced on 17 May 2024 and 15 July
2024 (the "Announcements").

The Deed of Variation provides that the formula to determine the exercise
price for the issuance of ordinary shares to New Tech under the Investment
Deed shall now be calculated as the average (in pounds Sterling, rounded down
to four decimal places (i.e. the nearest one hundredth of a penny) if such
price is below or equal to 0.1p or rounded down to three decimal places (i.e.
the nearest one tenth of a penny) if it is above 0.1p) of the lowest five
daily VWAPs of an Ordinary Share (rounded down to the nearest one hundredth of
a penny if such price is below or equal to 0.1p or one tenth of a penny if it
is above 0.1p) during the twenty trading days before the receipt of a Warrant
exercise notice by the Company, less a 15% discount, rounded down to the
nearest one hundredth of a penny if such price is below or equal to 0.1p or
one tenth of a penny if it is above 0.1p. All other terms of the Investment
Deed remain as set out in the Announcements.

For further information, please contact:

 

Ethernity Networks
Ltd
Tel: +972 3 748 9846

David Levi, Chief Executive Officer

Tomer Assis, Chief Financial Officer

 

Allenby Capital Limited (Nominated Adviser and Joint Broker)      Tel:
+44 (0)20 3328 5656

James Reeve / Piers Shimwell (Corporate Finance)

Amrit Nahal / Stefano Aquilino (Sales and Corporate Broking)

 

CMC Markets UK plc (Joint
Broker)
Tel: +44 (0)20 3003 8632

Douglas Crippen

 

Peterhouse Capital Limited (Joint
Broker)
Tel: +44 (0)20 7562 0930

Lucy Williams / Duncan Vasey / Eran Zucker

 

About Ethernity (www.ethernitynet.com)

 

Ethernity Networks (AIM: ENET.L) provides innovative, comprehensive networking
and security solutions on programmable hardware for accelerating telco/cloud
networks. Ethernity's semiconductor logic offers complete Carrier Ethernet
Switch Router data plane processing and control software with a rich set of
networking features, robust security, and a wide range of virtual function
accelerations to optimize telecommunications networks. Ethernity's complete
solutions quickly adapt to customers' changing needs, improving
time-to-market, and facilitating the deployment of 5G, edge computing, and
Broadband Networks.

 

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