Issue of Equity

RNS Number : 0579J

Ethernity Networks Ltd

18 December 2020

 

18 December 2020

ETHERNITY NETWORKS LTD

("Ethernity" or the "Company")

Issue of Equity

Ethernity Networks (AIM: ENET.L), a leading supplier of data processing offload solutions on programmable FPGA (field programmable gate array) hardware 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 £250,000 of the total £500,000 subscribed for to date by the Subscriber pursuant to the Investment Facility.

Accordingly, the Company will issue and allot 1,184,834 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, the number and price of which were to be determined at the time the Subscriber elected to receive such shares, on the terms of Investment Facility detailed in the 25 September 2020 announcement.

Application has been made to the London Stock Exchange for 1,184,834 new Ordinary Shares to be admitted to trading on AIM ("Admission") and Admission is expected to occur on or around 23 December 2020. 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 45,323,238 Ordinary Shares. The Company holds no Ordinary Shares in Treasury. This figure of 45,323,238 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	Tel: [phone]
David Levi, Chief Executive Officer
Mark Reichenberg, Chief Financial Officer
Arden Partners plc (NOMAD and Joint Broker)	Tel: [phone]
Richard Johnson / Benjamin Cryer
VSA Capital Limited (Joint Broker)	Tel: [phone]
Andrew Monk, Corporate Broking
Simon Barton, Corporate Finance
Peterhouse Capital Limited (Joint Broker)	Tel: [phone]
Lucy Williams / Duncan Vasey / Eran Zucker

About Ethernity ( www.ethernitynet.com )

Ethernity Networks Ltd. (AIM: ENET) provides innovative, comprehensive networking and security solutions on programmable hardware for accelerating telco/cloud networks performance. 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 and edge computing.

 

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