Ethernity Networks Ltd Share Allotment and Conclusion of Invt Facility (7031R)
09 Noviembre 2021 - 01:00AM
UK Regulatory
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.
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END
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