REG - Ethernity Networks - Issue of Equity to Chairman

Ethernity NetworksAnnouncement

Tue 09:15

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260310:nRSJ0459Wa&default-theme=true

RNS Number : 0459W  Ethernity Networks Ltd  10 March 2026

10 March 2026

Ethernity Networks Limited

("Ethernity" or the "Company")

 

Issue of Equity to Chairman

 

Ethernity Networks Limited (AIM: ENET.L; OTCMKTS: ENETF), a leading supplier
of data processing and PON semiconductor technology for networking appliances,
announces, issue of equity to the Chairman of the Company, Yosi Albagli, in
accordance with his compensation package.

 

Issue of equity

 

Under his existing contract, Yosi Albagli receives a portion of his annual
remuneration as non-Executive Chairman in new ordinary shares of no par value
in the Company ("Ordinary Shares").

 

Consequently, the Company has issued 6,936,578 new Ordinary Shares to Mr
Albagli, in satisfaction of the share element of his remuneration for the
period from 1 March 2024 to 28 February 2025 at an average issue price of
0.43p per share and 143,920,859 new Ordinary Shares in respect of the period
from 1 March 2025 to 28 February 2026, at an average issue price of 0.02p per
share.

 

Due to the current limitation in available share issuance authorities, the
Company has issued  62,500,000 Ordinary Shares to Mr. Albagli pursuant to the
Company's existing share authorities. As a result of the issue of these
Ordinary Shares, Mr Albagi's total holding has increased to 68,223,393
Ordinary Shares, representing 0.27% of the Company's issued share capital.

 

The remaining 87,357,437 Ordinary Shares will be issued to Mr Albagli subject
to the granting of additional share issuance authorities by shareholders at
the Company's forthcoming Extraordinary General Meeting ("EGM"), being held on
18 March 2026.

 

Total voting rights

 

Application will be made to the London Stock Exchange for 62,500,000 new
Ordinary Shares to be admitted to trading on AIM ("Admission") and Admission
is expected to occur on or around 13 March 2026. The new Ordinary Shares will,
upon issue, rank pari passu with the existing Ordinary Shares in the Company.
Following Admission, the Company's enlarged issued share capital will be
25,031,828,493 Ordinary Shares. The Company holds no Ordinary Shares in
Treasury. This figure of 25,031,828,493 Ordinary Shares may be used by
shareholders in the Company as the denominator for the calculations by which
they will determine if they are required to notify their interest in, or a
change in their interest in, the share capital of the Company under the FCA's
Disclosure Guidance and Transparency Rules.

 

For further information, please contact:

 

 Ethernity Networks Ltd                                        Tel: +972 3 748 9846
 David Levi, CEO

 Tomer Assis, CFO

 Allenby Capital Limited (Nominated Adviser and Joint Broker)  Tel: +44 (0)20 3328 5656
 James Reeve / Piers Shimwell (Corporate Finance)

 Amrit Nahal (Sales & Broking)

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

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

 
About Ethernity Networks

Ethernity Networks (AIM: ENET.L; OTCMKTS: ENETF) provides innovative
networking and security solutions on programmable hardware, enhancing
telco/cloud infrastructure capacity. Its semiconductor logic enables advanced
data processing for networking applications, alongside patented wireless
access and fiber media controllers. Ethernity's solutions accelerate
time-to-market and support the deployment of 5G over wireless and fiber
infrastructure.

 

 

Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them

 

 1    Details of the person discharging managerial responsibilities / person closely
      associated
 a)   Name                                              Joseph Albagli
 2    Reason for the notification
 a)   Position/status                                   Director
 b)   Initial notification /Amendment                   Initial notification
 3    Details of the issuer, emission allowance market participant, auction
      platform, auctioneer

      or auction monitor
 a)   Name                                              Ethernity Networks Ltd.
 b)   LEI                                               213800LZJO33QBNXU496
 4    Details of the transaction(s): section to be repeated for (i) each type of
      instrument;

      (ii) each type of transaction; (iii) each date; and (iv) each place where
      transactions have been conducted
 a)   Description of the financial instrument, type of  ordinary shares of no par value

      instrument Identification code

                                                        ISIN: IL0011410359
 b)   Nature of the transaction                         Shares element of annual remuneration
 c)   Price(s) and volume(s)

                                                                          Price(s)          Volume(s)
      Allotment of shares                                                 Average 0.25p     62,500,000

 d)   Aggregated information                            N/a - single transactions
 e)   Date of the transaction                           9 March 2026, to be completed on 13 March 2026
 f)   Place of the transaction                          Outside of a trading venue

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  IOEKBLBFQXLFBBX



            Copyright 2019 Regulatory News Service, all rights reserved