REG - Ethernity Networks - Issue of equity under settlement deed

Ethernity NetworksAnnouncement

29/11/2023 16:15

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RNS Number : 1123V  Ethernity Networks Ltd  29 November 2023

 

29 November 2023

Ethernity Networks Ltd

("Ethernity" or the "Company")

 

Issue of equity under settlement deed

 

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 it has
received notice today from 5G Innovation Leaders Fund LLC (the "Subscriber"),
to request the issue of the second tranche of 43,600,000 new ordinary shares
of NIS 0.001 each in the Company ("Ordinary Shares") to the Subscriber
pursuant to the settlement deed, details of which were announced on 10
November 2023 (the "Agreement").

 

Application has been made to the London Stock Exchange for the 43,600,000 new
Ordinary Shares to be admitted to trading on AIM ("Admission"), and Admission
is expected to occur on or around 5 December 2023. The shares will, upon
Admission, rank pari passu with the existing Ordinary Shares of the Company.

 

Total voting rights

 

Following Admission, the Company's enlarged issued share capital will be
237,721,091 Ordinary Shares. The Company holds no Ordinary Shares in Treasury.
This figure of 237,721,091 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.

 

Holdings in Company

 

On Admission, the new Ordinary Shares will represent 18.34% of the Company's
issued share capital as enlarged by the issue of those shares. The Subscriber
has confirmed to the Company that it currently holds no Ordinary Shares.
Therefore, its interest in the Company's share capital following Admission
will be 18.34% of the Company's issued share capital.

 

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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