TIDMENET

RNS Number : 7031R

Ethernity Networks Ltd

09 November 2021

09 November 2021

ETHERNITY NETWORKS LTD

("Ethernity" or the "Company")

Allotment of Shares and Conclusion of Investment Facility

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 ("Subscriber") under the share subscription deed governing the investment facility, the details of which were announced to the market on 25 September 2020 (the "Investment Facility"), has issued the Company a settlement notice for the entire remaining outstanding balance of GBP823,500 pursuant to the Investment Facility, for a new share issuance date of 29 November 2021 (the "Issue Date"). Following the settlement of this outstanding balance, no further shares will be required to be issued by the Company under the Investment Facility.

Accordingly, the Company will issue and allot 2,642,472 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 will be made to the London Stock Exchange prior to the Issue Date for 2,642,472 new Ordinary Shares to be admitted to trading on AIM ("Admission") and Admission is expected to occur on or around 29 November 2021. The Company will make a further announcement at the time of application. The new Ordinary Shares will, upon issue, rank pari passu with the existing ordinary shares in the Company at the time of Admission.

The Subscriber has confirmed to the Company that it has at all times complied, and will continue to comply, with its obligations in connection with the filing of TR-1 substantial shareholder notification forms (if and when applicable).

Total voting rights

Following Admission on 29 November 2021, and on the basis no further new Ordinary Shares are issued prior to Admission, the Company's enlarged issued share capital will be 75,351,738 Ordinary Shares. The Company holds no Ordinary Shares in Treasury. This figure of 75,351,738 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  Tel: +44 207 614 5900 
 Broker) 
Richard Johnson 
 
Peterhouse Capital Limited (Joint    Tel: +44 20 7562 0930 
 Broker) 
Lucy Williams / Duncan Vasey / Eran 
 Zucker 
 
 
 
 
 
   About Ethernity   (www.ethernitynet.com) 

Ethernity Networks 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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

TVRQVLFBFFLLFBL

(END) Dow Jones Newswires

November 09, 2021 02:00 ET (07:00 GMT)

Ethernity Networks (LSE:ENET)
Gráfica de Acción Histórica
De Feb 2024 a Mar 2024 Haga Click aquí para más Gráficas Ethernity Networks.
Ethernity Networks (LSE:ENET)
Gráfica de Acción Histórica
De Mar 2023 a Mar 2024 Haga Click aquí para más Gráficas Ethernity Networks.