REG - Ethernity Networks - Update re. Creditor Settlement Plan

Ethernity NetworksAnnouncement

21/01/2025 11:30

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RNS Number : 1496U  Ethernity Networks Ltd  21 January 2025

21 January 2025

 

ETHERNITY NETWORKS LTD

("Ethernity" or the "Company")

 

Update re. Creditor Settlement Plan

 

Ethernity Networks Limited (AIM: ENET.L) (OTCMKTS: ENETF), a leading supplier
of data processing semiconductor technology for networking appliances, is
pleased to announce that, further to the Company's announcement of 5 February
2024 regarding the court approval of the creditor settlement plan (the
"Creditor Settlement Plan"), the remaining balance under the Creditor
Settlement Plan, of approximately USD 400,000, will be distributed to the
settlement manager's bank account during the first quarter of 2025 (the
"Distribution"). Upon completion of the Distribution, the Company will end its
liability under the Creditor Settlement Plan, which will allow the Company to
improve access to external credit financing resources to support its
operations.

 

For further information, please contact:

 

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

 Tomer Assis, 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) provides innovative, comprehensive networking
and security solutions on programmable hardware for accelerating telco/cloud
networks. Ethernity's semiconductor logic offers complete Carrier Ethernet
Switch Router data plane processing and control software with a rich set of
networking features, robust security, and a wide range of virtual function
accelerations to optimize telecommunications networks. Ethernity's complete
solutions quickly adapt to customers' changing needs, improving
time-to-market, and facilitating the deployment of 5G, edge computing, and
Broadband Networks.

 

 

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