REG - Ethernity Networks - Notice of AGM and Issue of Director Shares

Ethernity NetworksAnnouncement

06/07/2023 07:00

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RNS Number : 0977F  Ethernity Networks Ltd  06 July 2023

6 July 2023

 

ETHERNITY NETWORKS LTD.

 

("Ethernity" or the "Company")

 

Notice of AGM and Issue of Director Shares

 

Ethernity Networks (AIM: ENET.L OTCQB:ENETF), a leading supplier of data
processing semiconductor technology for networking appliances and fiber access
controller for PON networks, announces that its notice of annual general
meeting ("AGM") is being despatched to shareholders shortly. A copy of the AGM
notice, together with the forms of proxy and direction, are available on the
Company's website at: www.ethernitynet.com (https://ethernitynet.com/) .

The AGM  will be held at the offices of the Company at 3rd Floor, Beit Golan,
1 Golan St. Corner HaNegev, Airport City 7019900 Israel at 9.00 a.m. UK time
(11.00 a.m. Israel time) on 14 August 2023.

Issue of shares to a Director

Under his contract, Yosi Albagli receives a portion of his annual remuneration
as non-Executive Chairman in new ordinary shares of NIS 0.001 each in the
Company ("Ordinary Shares").

Consequently, the Company has issued 126,347 new Ordinary Shares to Mr
Albagli, in satisfaction of the share element of his remuneration for the
period from 1 March 2022 to 28 February 2023 at an average issue price of
11.87p per share. Following this issue, Mr Albagli will be interested in
256,787 Ordinary Shares, representing 0.19% of the Company's enlarged issued
share capital.

Application will be made to the London Stock Exchange for 126,347 new Ordinary
Shares to be admitted to trading on AIM ("Admission") and Admission is
expected to occur on or around 12 July 2023. 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
136,916,888 Ordinary Shares. The Company holds no Ordinary Shares in Treasury.
This figure of 136,916,888 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 8 915 0392
 David Levi, Chief Executive Officer
 Mark Reichenberg, 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)

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

About Ethernity (www.ethernitynet.com (https://ethernitynet.com/) )

Ethernity Networks (AIM: ENET.L OTCQB: ENETF) provides innovative,
comprehensive networking and security solutions on programmable hardware that
increase telco/cloud network infrastructure capacity. Ethernity's
semiconductor logic offers data processing functionality for different
networking applications, innovative patented wireless access technology, and
fibre access media controllers, all equipped with control software with a rich
set of networking features. Ethernity's solutions quickly adapt to customers'
changing needs, improving time-to-market, and facilitating the deployment of
5G over wireless and fibre 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 NIS 0.001 nominal value each

      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 11.87p    126,347

 d)   Aggregated information                            N/a - single transactions
 e)   Date of the transaction                           6 July 2023
 f)   Place of the transaction                          Outside of a trading venue

 

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