RNS Number : 1119R

Ethernity Networks Ltd

03 November 2021

03 November 2021


("Ethernity" or the "Company")

Allotment of Shares

Issue of Equity

Ethernity Networks (AIM: ENET.L), Ethernity Networks (AIM: ENET.L), a leading supplier of data processing offload solutions on programmable FPGA (field programmable gate array) for accelerating telco/cloud networks, announces that the subscriber under the share subscription deed governing the investment facility ("Investment Facility"), the details of which were announced to the market on 25 September 2020 (the "Subscriber"), has issued the Company a settlement notice for GBP744,500 of the total remaining outstanding balance of GBP1,568,000.00 pursuant to the Investment Facility.

Accordingly, the Company will issue and allot 2,433,007 new ordinary shares of NIS 0.001 each in the Company ("Ordinary Shares") to the Subscriber. The Subscriber's investment was made as a prepayment for Ordinary Shares, on the terms of Investment Facility detailed in the 25 September 2020 announcement.

Application has been made to the London Stock Exchange for 2,433,007 new Ordinary Shares to be admitted to trading on AIM ("Admission") and Admission is expected to occur on or around 8 November 2021. The new Ordinary Shares will, upon issue, rank pari passu with the existing Ordinary Shares in the Company.

Total voting rights

Following Admission, the Company's enlarged issued share capital will be 72,709,266 Ordinary Shares. The Company holds no Ordinary Shares in Treasury. This figure of 72,709,266 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 
Arden Partners plc (NOMAD and Joint Broker)  Tel: +44 207 614 5900 
Richard Johnson / Oscair McGrath 
Peterhouse Capital Limited (Joint Broker)    Tel: +44 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 FPGA 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 NFV.

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(END) Dow Jones Newswires

November 03, 2021 02:59 ET (06:59 GMT)

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