Result of EGM and Grant of Warrants

RNS Number : 4600P

Ethernity Networks Ltd

09 February 2023

 

9 February 2023

ETHERNITY NETWORKS LTD.

("Ethernity" or the "Company")

Result of EGM and grant of warrants

Ethernity Networks (AIM: ENET.L; OTCQB: ENETF), a leading supplier of data processing semiconductor technology for networking appliances, announces that all resolutions proposed at its Extraordinary General Meeting ("Meeting") held earlier today were duly passed. The resolutions put to the Meeting were voted on by way of a poll. The results of the poll for the resolutions were as follows:

Resolution	For		Against		Withheld
	Votes	%	Votes	%	Votes	%
1.  That the Company's authorised share capital be increased to NIS 200,000 consisting of 200,000,000 Ordinary Shares, and the Company's articles of association shall be amended to reflect such increase.	47,960,892	92.67%	3,792,252	7.33%	-	-
2.  That the Directors be authorised to allot Ordinary Shares or other Equity Securities for cash as if Article 9.2 of the Company's articles of association did not apply: 2.1  In connection with rights issues or similar offer; and 2.2  Otherwise up to an aggregate nominal amount of NIS 55,000.00	47,960,892	92.67%	3,792,252	7.33%	-	-

Total votes cast 51,753,144

NOTES:

1.  Proxy appointments which gave discretion to the Chairman of the Meeting have been included in the "For" total for the appropriate resolution

2.  Votes "For" and "Against" any resolution are expressed as a percentage of votes validly cast for that resolution

3.  A vote withheld is not a vote in law and is not counted in the calculation of the percentage of shares voted "For" or "Against" any resolution

Grant of warrants

Following the passing of the resolutions, and further to the announcements of the Company's recent Placing on 17 January 2023 and 19 January 2023 (the "Announcements"), the Company has granted 23,571,430 warrants to investors in the Placing and Broker Option on the terms set out in the Announcements, including the following grants to directors of the Company:

Name	No. warrants granted	Exercise price
David Levi	3,028,571	15p
Shavit Baruch	668,771	15p

The FCA notification, made in accordance with the requirements of the UK Market Abuse Regulation is appended further below.

For further information, please contact:

Ethernity Networks Ltd	Tel: [phone]
David Levi, Chief Executive Officer
Mark Reichenberg, Chief Financial Officer
Allenby Capital Limited (Nominated Adviser and Joint Broker)	Tel: [phone]
James Reeve / Piers Shimwell (Corporate Finance) Amrit Nahal (Sales and Corporate Broking)
Peterhouse Capital Limited (Joint Broker)	Tel: [phone]
Lucy Williams / Duncan Vasey / Eran Zucker
Harbor Access Inc (US Investor Relations) Jonathan Paterson	Tel: [phone]

About Ethernity ( www.ethernitynet.com )

Ethernity Networks (AIM: ENET.L OTCQB: ENETF) provides innovative, comprehensive networking and security solutions on programmable hardware that increase telco/cloud network infrastructure capacity. Ethernity's semiconductor logic offers Data processing functionality for different networking applications, innovative patented wireless access technology, and fibre access media controllers, all equipped with control software with a rich set of networking features. Ethernity's solutions quickly adapt to customers' changing needs, improving time-to-market, and facilitating the deployment of 5G over wireless and fibre infrastructure.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	David Levi
2	Reason for the notification
a)	Position/status	CEO
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Ethernity Networks Ltd.
b)	LEI	213800LZJO33QBNXU496
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
a)	Description of the financial instrument, type of instrument Identification code	Warrants over ordinary shares of NIS 0.001 nominal value each ISIN: IL0011410359
b)	Nature of the transaction	Grant of warrants over ordinary shares
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			15p exercise price	3,028,571
d)	Aggregated information	N/A
e)	Date of the transaction	9 February 2023
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Shavit Baruch
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Ethernity Networks Ltd.
b)	LEI	213800LZJO33QBNXU496
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
a)	Description of the financial instrument, type of instrument Identification code	Warrants over ordinary shares of NIS 0.001 nominal value each ISIN: IL0011410359
b)	Nature of the transaction	Grant of warrants over ordinary shares
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			15p exercise price	668,771
d)	Aggregated information	N/A
e)	Date of the transaction	9 February 2023
f)	Place of the transaction	Outside a trading venue

 

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