REG - Ethernity Networks - Change to date of General Meeting

Ethernity NetworksAnnouncement

14/11/2023 18:00

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RNS Number : 4532T  Ethernity Networks Ltd  14 November 2023

14 November 2023

Ethernity Networks Ltd

("Ethernity" or the "Company")

 

Change to date of General Meeting

 

Ethernity Networks Ltd (AIM: ENET; OTCMKTS: ENETF), a leading supplier of
networking processing semiconductor technology ported on field programmable
gate arrays for virtualised networking appliances, announces that the date and
time of the Company's upcoming general meeting ("General Meeting"), details of
which were announced on 10 November 2023, has been changed to 11:00 a.m. IST
(09:00 a.m. GMT) on 7 December 2023 at 3rd Floor Beit Golan, 1 Golan St.
Corner HaNegev, Airport City 7019900, Israel.

 

The Company will shortly be posting to shareholders a new circular convening
the General Meeting on the revised date, a copy of which will be made
available on the Company's website at: https://ethernitynet.com/investors/
(https://ethernitynet.com/investors/) . The date of the General Meeting has
been brought forward as the Directors of Ethernity believe that it is in the
best interests of the Company to secure the increase in authority to issue
shares free of pre-emption rights as soon as possible, to give the Company the
best opportunity to exit the ongoing temporary suspension of proceedings
("TSP") process.

 

As previously announced, in order to exit the TSP, it is expected that the
Company will be required to raise additional funds. Whilst the structure of
this is not yet known, the Board believes it is prudent to put in place
sufficient authorities to permit an equity fundraising. Should any fundraise
take place, the Company will prioritise structures that would enable existing
shareholders to participate on the same terms as any incoming investors.

 

For further information, please contact:

 

 Ethernity Networks Ltd                                         Tel: +972 8 915 0392
 David Levi, Chief Executive 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)

 Peterhouse Capital Limited (Joint Broker)                      Tel: +44 (0)20 7562 0930
 Lucy Williams / Duncan Vasey / Eran Zucker

 

 

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