Result of EGM

Ethernity Networks Ltd

18 March 2026

 

18 March 2026

Ethernity Networks Limited

("Ethernity" or the "Company")

Result of EGM

Ethernity Networks Limited (AIM: ENET.L; OTCMKTS: ENETF), a leading supplier of data processing and PON semiconductor technology for networking appliances, announces that at the Company's extraordinary general meeting ("EGM"), held earlier today, all resolutions were duly passed. The voting results are set out in Appendix A at the end of this announcement.

For further information, please contact:

Ethernity Networks Ltd	Tel: [phone]
David Levi, CEO Tomer Assis, CFO
Allenby Capital Limited (Nominated Adviser and Joint Broker)	Tel: [phone]
James Reeve / Piers Shimwell (Corporate Finance) Amrit Nahal (Sales & Broking)
ALBR Capital Limited (Joint Broker)	Tel: [phone]
Lucy Williams / Duncan Vasey
CMC Markets UK plc (Joint Broker)	Tel: [phone]
Douglas Crippen

 

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.

Appendix A

All resolutions and voting undertaken and counted in terms of Israel Companies Law
Resolution	Outcome	Votes  For	Votes Against	% For	% Against	Votes Withheld
1.   Increasing the Authorised Share Capital of the Company	Passed	1,489,973,928	2,334,819	99.84%	0.16%	2,483,989
2.   Disapplication of Pre-emption Rights on Equity Issues for Cash	Passed	1,485,410,365	6,898,382	99.54%	0.46%	2,483,989
3Y. Yes Controlling Shareholder/Personal Interest Approval of Conversion of Certain Directors' Accrued and Unpaid Salaries and Fees to Ordinary Shares	Passed	226,968,689	-	100.00%	0.00%	-
3N. No Controlling Shareholder/Personal Interest Approval of Conversion of Certain Directors' Accrued and Unpaid Salaries and Fees to Ordinary Shares	Passed	1,258,551,703	6,788,355	99.46%	0.54%	2,483,989

The approval of Resolution 2 required the affirmative vote of three fourths of the Ordinary Shares. It achieved the required majority.

The approval of Resolution 3 required the Disinterested Majority Shareholder Vote of the Ordinary Shares. It achieved the required majority as specified in section (i) of the following definition of Disinterested Majority Shareholder Vote.

A "Disinterested Majority Shareholder Vote" means: a simple majority of the Ordinary Shares present, in person or by proxy, and voting on the Resolution, excluding abstentions, provided that either: (i) at least a majority of the Ordinary Shares held by all shareholders who are not controlling shareholders and do not have a personal interest in such matter, present and voting on such matter, are voted in favour of the matter, excluding abstentions, or (ii) the total number of Ordinary Shares of non-controlling shareholders and shareholders who do not have a personal interest in such matter voting against the matter does not exceed 2 per cent. of the aggregate voting rights in the company.

The term "controlling shareholder" means a shareholder who has the ability to direct the activities of the Company, other than by virtue of being an Office Holder (as such term is defined in the Companies Law). A shareholder is presumed to be a controlling shareholder if the shareholder holds 50 per cent. or more of the voting rights in the Company or has the right to appoint the majority of the directors of the Company or its chief executive officer (referred to in the Companies Law as the general manager). In addition, the term controlling shareholder for the purposes of Resolution 3 includes any shareholder that holds 25 per cent. or more of the voting rights of the Company if no other shareholder holds more than 50 per cent. of the voting rights in the Company. As of the date hereof, the Company is not aware of any controlling shareholders. A "personal interest" of a shareholder is defined as: such shareholder's personal interest in an act or a transaction of the Company, including (i) a personal interest of such shareholder's relative, and (ii) a personal interest of a corporation in which such shareholder or any of his/her relatives serves as a director or the chief executive officer, owns at least five percent (5 per cent.) of its issued share capital or its voting rights or has the right to appoint a director or chief executive officer, but excluding a personal interest arising solely from the holding of shares in the Company. A personal interest also includes the personal interest of a proxy holder voting shares, even if the proxy giver does not have a personal interest in the matter, and the personal interest of the proxy giver, whether or not the person voting the shares has discretion. The term "relative" means a shareholder's spouse, sibling, parent, grandparent or descendant and the spouse's sibling, parent, or descendant; and the spouse of each of the foregoing persons.

Total votes cast were 1,494,792,736 representing 5.99% of the Company's total issued share capital.

 

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