REG - Ethernity Networks - Result of EGM and Grant of Warrants

Ethernity NetworksAnnouncement

09/02/2023 10:15

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RNS Number : 4600P  Ethernity Networks Ltd  09 February 2023

9 February 2023

ETHERNITY NETWORKS LTD.

("Ethernity" or the "Company")

 

Result of EGM and grant of warrants

 

Ethernity Networks (AIM: ENET.L; OTCQB: ENETF), a leading supplier of data
processing semiconductor technology for networking appliances, announces that
all resolutions proposed at its Extraordinary General Meeting ("Meeting") held
earlier today were duly passed. The resolutions put to the Meeting were voted
on by way of a poll. The results of the poll for the resolutions were as
follows:

 

 Resolution                                                                      For                 Against           Withheld
                                                                                 Votes       %       Votes      %      Votes  %
 1.    That the Company's authorised share capital be increased to NIS           47,960,892  92.67%  3,792,252  7.33%  -      -
 200,000 consisting of 200,000,000 Ordinary Shares, and the Company's articles
 of association shall be amended to reflect such increase.
 2.    That the Directors be authorised to allot Ordinary Shares or other        47,960,892  92.67%  3,792,252  7.33%  -      -
 Equity Securities for cash as if Article 9.2 of the Company's articles of
 association did not apply:

 2.1    In connection with rights issues or similar offer; and

 2.2    Otherwise up to an aggregate nominal amount of NIS 55,000.00

 

Total votes cast 51,753,144

 

NOTES:

1.   Proxy appointments which gave discretion to the Chairman of the Meeting
have been included in the "For" total for the appropriate resolution

2.   Votes "For" and "Against" any resolution are expressed as a percentage
of votes validly cast for that resolution

3.   A vote withheld is not a vote in law and is not counted in the
calculation of the percentage of shares voted "For" or "Against" any
resolution

 

Grant of warrants

 

Following the passing of the resolutions, and further to the announcements of
the Company's recent Placing on 17 January 2023 and 19 January 2023 (the
"Announcements"), the Company has granted 23,571,430 warrants to investors in
the Placing and Broker Option on the terms set out in the Announcements,
including the following grants to directors of the Company:

 

 Name           No. warrants granted  Exercise price
 David Levi     3,028,571             15p
 Shavit Baruch  668,771               15p

 

The FCA notification, made in accordance with the requirements of the UK
Market Abuse Regulation is appended further below.

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 (Sales and Corporate Broking)

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

 Harbor Access Inc (US Investor Relations)                     Tel: +1 (475) 477 9401

 Jonathan Paterson

 

About Ethernity ( www.ethernitynet.com (http://www.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                                                         David Levi

 2    Reason for the notification
 a)   Position/status                                              CEO
 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 instrument  Warrants over ordinary shares of NIS 0.001 nominal value each

      Identification code

                                                                   ISIN: IL0011410359
 b)   Nature of the transaction                                    Grant of warrants over ordinary shares
 c)   Price(s) and volume(s)

                                                                                     Price(s)            Volume(s)
                                                                                     15p exercise price  3,028,571

 d)   Aggregated information                                       N/A
 e)   Date of the transaction                                      9 February 2023
 f)   Place of the transaction                                     Outside a trading venue

 

 

 1    Details of the person discharging managerial responsibilities / person closely
      associated
 a)   Name                                                         Shavit Baruch
 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 instrument  Warrants over ordinary shares of NIS 0.001 nominal value each

      Identification code

                                                                   ISIN: IL0011410359
 b)   Nature of the transaction                                    Grant of warrants over ordinary shares
 c)   Price(s) and volume(s)

                                                                                     Price(s)            Volume(s)
                                                                                     15p exercise price  668,771

 d)   Aggregated information                                       N/A
 e)   Date of the transaction                                      9 February 2023
 f)   Place of the transaction                                     Outside a trading venue

 

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