Issue of Equity to Chairman
Summary by AI BETAClose X
10 March 2026
Ethernity Networks Limited
("Ethernity" or the "Company")
Issue of Equity to Chairman
Ethernity Networks Limited (AIM: ENET.L; OTCMKTS: ENETF), a leading supplier of data processing and PON semiconductor technology for networking appliances, announces, issue of equity to the Chairman of the Company, Yosi Albagli, in accordance with his compensation package.
Issue of equity
Under his existing contract, Yosi Albagli receives a portion of his annual remuneration as non-Executive Chairman in new ordinary shares of no par value in the Company ("Ordinary Shares").
Consequently, the Company has issued 6,936,578 new Ordinary Shares to Mr Albagli, in satisfaction of the share element of his remuneration for the period from 1 March 2024 to 28 February 2025 at an average issue price of 0.43p per share and 143,920,859 new Ordinary Shares in respect of the period from 1 March 2025 to 28 February 2026, at an average issue price of 0.02p per share.
Due to the current limitation in available share issuance authorities, the Company has issued 62,500,000 Ordinary Shares to Mr. Albagli pursuant to the Company's existing share authorities. As a result of the issue of these Ordinary Shares, Mr Albagi's total holding has increased to 68,223,393 Ordinary Shares, representing 0.27% of the Company's issued share capital.
The remaining 87,357,437 Ordinary Shares will be issued to Mr Albagli subject to the granting of additional share issuance authorities by shareholders at the Company's forthcoming Extraordinary General Meeting ("EGM"), being held on 18 March 2026.
Total voting rights
Application will be made to the London Stock Exchange for 62,500,000 new Ordinary Shares to be admitted to trading on AIM ("Admission") and Admission is expected to occur on or around 13 March 2026. The new Ordinary Shares will, upon issue, rank pari passu with the existing Ordinary Shares in the Company. Following Admission, the Company's enlarged issued share capital will be 25,031,828,493 Ordinary Shares. The Company holds no Ordinary Shares in Treasury. This figure of 25,031,828,493 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:
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Ethernity Networks Ltd |
Tel: +972 3 748 9846 |
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David Levi, CEO Tomer Assis, CFO
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Allenby Capital Limited (Nominated Adviser and Joint Broker) |
Tel: +44 (0)20 3328 5656 |
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James Reeve / Piers Shimwell (Corporate Finance) Amrit Nahal (Sales & Broking)
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ALBR Capital Limited (Joint Broker) |
Tel: +44 (0)20 7562 0930 |
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Lucy Williams / Duncan Vasey
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CMC Markets UK plc (Joint Broker) |
Tel: +44 (0)20 3003 8632 |
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Douglas Crippen |
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About Ethernity Networks
Ethernity Networks (AIM: ENET.L; OTCMKTS: ENETF) provides innovative networking and security solutions on programmable hardware, enhancing telco/cloud infrastructure capacity. Its semiconductor logic enables advanced data processing for networking applications, alongside patented wireless access and fiber media controllers. Ethernity's solutions accelerate time-to-market and support the deployment of 5G over wireless and fiber infrastructure.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
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1 |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
Joseph Albagli |
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2 |
Reason for the notification |
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a) |
Position/status |
Director |
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b) |
Initial notification /Amendment |
Initial notification |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
Ethernity Networks Ltd. |
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b) |
LEI |
213800LZJO33QBNXU496 |
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4 |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
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a) |
Description of the financial instrument, type of instrument Identification code |
ordinary shares of no par value
ISIN: IL0011410359 |
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b) |
Nature of the transaction |
Shares element of annual remuneration |
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c)
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Price(s) and volume(s) |
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Price(s) |
Volume(s) |
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Allotment of shares |
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Average 0.25p |
62,500,000 |
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d) |
Aggregated information |
N/a - single transactions |
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e) |
Date of the transaction |
9 March 2026, to be completed on 13 March 2026 |
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f) |
Place of the transaction |
Outside of a trading venue |
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