REG - Ethernity Networks - Result of Adjourned GM and Board Changes

Ethernity NetworksAnnouncement

16/04/2024 10:15

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RNS Number : 8078K  Ethernity Networks Ltd  16 April 2024

 

16 April 2024

 

ETHERNITY NETWORKS LTD.

("Ethernity" or the "Company")

 

Result of Adjourned General Meeting

 

Appointment of directors

 

Ethernity Networks (AIM: ENET.L; OTCMKTS: ENETF), a leading supplier of data
processing and fibre access semiconductor technology for networking
appliances, announces that, further to the Company's announcement on 9 April
2024, the adjourned general meeting of the Company was held earlier today, and
all resolutions were duly passed on a poll. The voting results are set out in
Appendix A at the end of this announcement.

 

Proposed grant of options

 

At the general meeting, resolutions were passed to approve the grant of
17,377,225 options to certain directors of the Company, details of which were
announced on 1 March 2024. The options will be granted once the Company is no
longer in a closed period, following the publication of the Company's annual
report and accounts for the year ended 31 December 2023. A further
announcement will be made at that time.

 

Appointment of directors

 

Following the passing of the resolutions, Julie Kunstler and Aviva Banczewski
have been appointed to the Board of Directors of the Company as External
Non-Executive Directors.

 

Biographies of the directors

 

Julie Kunstler has over 30 years' experience in the communications components,
equipment, and software industry, having served as an executive, venture-fund
investor, analyst, and board member. Most recently, Julie held the position of
Chief Analyst - Broadband Access Intelligence Service for Omdia (a division of
Informa Tech), covering the fixed broadband access industry ecosystem. Prior
to joining Omdia, Julie served as VP Business Development for Teknovus, a
venture-backed broadband access PON (Passive Optical Network) chip start-up,
where she assisted with fundraising, corporate strategy, OEM agreements, and
its acquisition by Broadcom.

 

Aviva Banczewski has over 30 years of varied finance experience including
audit, consulting, regulatory and compliance, business and strategic planning
and acquisition due diligence assignments. She started her career working for
Andersen in both Australia and then Israel for a total of 15 years. Since
then, she has held both finance and investor relations roles in publicly
traded companies, including ICL Group Ltd, which is listed on the NYSE the Tel
Aviv Stock Exchange ("TASE") and Evogene Ltd, which is listed on Nasdaq and
TASE. She currently acts as Director of Investor Relations for Pluri, Inc, a
Nasdaq and TASE listed company. Aviva has also been a board member of the
Israel Australia Chamber of Commerce since November 2022.

 

Regulatory disclosures

 

As required under Schedule Two, paragraph (g) of the AIM Rules for Companies,
further disclosures on Julie Kunstler and Aviva Banczewski are as follows:

 

Julie Anne Kunstler (formerly Katzen) is 68 years old. There is no further
information on Julie Kunstler required to be disclosed under Schedule Two,
paragraph (g) of the AIM Rules for Companies.

 

Aviva Banczewski, aged 57, holds the following directorships and/or
partnerships in the past five years:

 

Current directorships and/or partnerships:

 

·    Diagnosis and Rehabilitation Clinic - Functional Capacity Evaluation
and Whiplash Center Ltd

 

·    Israel-Australia, New Zealand & Oceania Chamber of Commerce (RA)
(Israel)

 

There is no further information on Aviva Banczewski required to be disclosed
under Schedule Two, paragraph (g) of the AIM Rules for Companies.

 

For further information, please contact:

 

 Ethernity Networks Ltd                                         Tel: +972 3 748 9846
 David Levi, Chief Executive Officer

 Ayala Deutsch, 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 OTCMKTS: 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.

 

Appendix A

 

 

                                                                          Votes For   Votes Against  %       %         Votes Withheld

 Resolution                                                                                          For     Against
 1.    Appointment of Aviva Banczewski as External Director               44,799,632  430,414        99.05%  0.95%     1,244,495
 2.    Appointment of Julie Kunstler as External Director                 44,799,632  430,414        99.05%  0.95%     1,244,495
 3.    Disapplication of pre-emption rights on equity issues for cash     42,147,733  3,082,313      93.19%  6.81%     1,244,495
 4.    Approval of Options award to David Levi((1))                       23,850,567  430,414        98.23%  1.77%     1,244,495
 5.    Approval of Options award to Shavit Baruch                         44,799,632  430,414        99.05%  0.95%     1,244,495
 6.    Approval of Options award to Ayala Deutsch                         42,898,439  2,331,607      94.85%  5.15%     1,244,495
 7.    Approval of Options award to Joseph Albagli                        44,799,632  430,414        99.05%  0.95%     1,244,495
 8.    Approval of Amendments to the Articles Regarding Quorum for        44,397,593  430,414        99.04%  0.96%     1,646,534
 Shareholder Meetings

(1)  Votes exclude personal interest shares

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