REG - Ethernity Networks - Result of EGM

Ethernity NetworksAnnouncement

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RNS Number : 1715X  Ethernity Networks Ltd  18 March 2026

18 March 2026

Ethernity Networks Limited

("Ethernity" or the "Company")

 

Result of EGM

 

Ethernity Networks Limited (AIM: ENET.L; OTCMKTS: ENETF), a leading supplier
of data processing and PON semiconductor technology for networking appliances,
announces that at the Company's extraordinary general meeting ("EGM"), held
earlier today, all resolutions were duly passed. The voting results are set
out in Appendix A at the end of this announcement.

 

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.

 

 

Appendix A

 

 All resolutions and voting undertaken and counted in terms of Israel Companies
 Law
                                                                              Outcome  Votes          Votes Against  %        %         Votes Withheld

 Resolution                                                                             For                          For      Against
 1.   Increasing the Authorised Share Capital of the Company                  Passed   1,489,973,928  2,334,819      99.84%   0.16%     2,483,989
 2.   Disapplication of Pre-emption Rights on Equity Issues for Cash          Passed   1,485,410,365   6,898,382     99.54%   0.46%     2,483,989
 3Y. Yes Controlling Shareholder/Personal Interest Approval of Conversion of  Passed    226,968,689   -              100.00%  0.00%     -
 Certain Directors' Accrued and Unpaid Salaries and Fees to Ordinary Shares
 3N. No Controlling Shareholder/Personal Interest Approval of Conversion of   Passed   1,258,551,703  6,788,355      99.46%   0.54%     2,483,989
 Certain Directors' Accrued and Unpaid Salaries and Fees to Ordinary Shares

 

The approval of Resolution 2 required the affirmative vote of three fourths of
the Ordinary Shares. It achieved the required majority.

 

The approval of Resolution 3 required the Disinterested Majority Shareholder
Vote of the Ordinary Shares. It achieved the required majority as specified in
section (i) of the following definition of Disinterested Majority Shareholder
Vote.

 

A "Disinterested Majority Shareholder Vote" means: a simple majority of the
Ordinary Shares present, in person or by proxy, and voting on the Resolution,
excluding abstentions, provided that either: (i) at least a majority of the
Ordinary Shares held by all shareholders who are not controlling shareholders
and do not have a personal interest in such matter, present and voting on such
matter, are voted in favour of the matter, excluding abstentions, or (ii) the
total number of Ordinary Shares of non-controlling shareholders and
shareholders who do not have a personal interest in such matter voting against
the matter does not exceed 2 per cent. of the aggregate voting rights in the
company.

 

The term "controlling shareholder" means a shareholder who has the ability to
direct the activities of the Company, other than by virtue of being an Office
Holder (as such term is defined in the Companies Law). A shareholder is
presumed to be a controlling shareholder if the shareholder holds 50 per cent.
or more of the voting rights in the Company or has the right to appoint the
majority of the directors of the Company or its chief executive officer
(referred to in the Companies Law as the general manager). In addition, the
term controlling shareholder for the purposes of Resolution 3 includes any
shareholder that holds 25 per cent. or more of the voting rights of the
Company if no other shareholder holds more than 50 per cent. of the voting
rights in the Company. As of the date hereof, the Company is not aware of any
controlling shareholders. A "personal interest" of a shareholder is defined
as: such shareholder's personal interest in an act or a transaction of the
Company, including (i) a personal interest of such shareholder's relative, and
(ii) a personal interest of a corporation in which such shareholder or any of
his/her relatives serves as a director or the chief executive officer, owns at
least five percent (5 per cent.) of its issued share capital or its voting
rights or has the right to appoint a director or chief executive officer, but
excluding a personal interest arising solely from the holding of shares in the
Company. A personal interest also includes the personal interest of a proxy
holder voting shares, even if the proxy giver does not have a personal
interest in the matter, and the personal interest of the proxy giver, whether
or not the person voting the shares has discretion. The term "relative" means
a shareholder's spouse, sibling, parent, grandparent or descendant and the
spouse's sibling, parent, or descendant; and the spouse of each of the
foregoing persons.

 

Total votes cast were 1,494,792,736 representing 5.99% of the Company's total
issued share capital.

 

 

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