Update re. Creditor Settlement Plan

Ethernity Networks Ltd

21 January 2025

 

21 January 2025

ETHERNITY NETWORKS LTD

("Ethernity" or the "Company")

Update re. Creditor Settlement Plan

Ethernity Networks Limited (AIM: ENET.L) (OTCMKTS: ENETF), a leading supplier of data processing semiconductor technology for networking appliances, is pleased to announce that, further to the Company's announcement of 5 February 2024 regarding the court approval of the creditor settlement plan (the "Creditor Settlement Plan"), the remaining balance under the Creditor Settlement Plan, of approximately USD 400,000, will be distributed to the settlement manager's bank account during the first quarter of 2025 (the "Distribution"). Upon completion of the Distribution, the Company will end its liability under the Creditor Settlement Plan, which will allow the Company to improve access to external credit financing resources to support its operations.

For further information, please contact:

Ethernity Networks Ltd	Tel: [phone]
David Levi, Chief Executive Officer Tomer Assis, Chief Financial Officer
Allenby Capital Limited (Nominated Adviser and Joint Broker)	Tel: [phone]
James Reeve / Piers Shimwell (Corporate Finance) Amrit Nahal / Stefano Aquilino (Sales and Corporate Broking)
CMC Markets UK plc (Joint Broker)	Tel: [phone]
Douglas Crippen
Peterhouse Capital Limited (Joint Broker)	Tel: [phone]
Lucy Williams / Duncan Vasey / Eran Zucker

About Ethernity (www.ethernitynet.com)

Ethernity Networks (AIM: ENET.L) provides innovative, comprehensive networking and security solutions on programmable hardware for accelerating telco/cloud networks. Ethernity's semiconductor 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 Broadband Networks.

 

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