Exercise and closure of 30p Warrants

RNS Number : 2768Y

Ethernity Networks Ltd

12 May 2021

 

12 May 2021

ETHERNITY NETWORKS LTD

("Ethernity" or the "Company")

Exercise and closure of 30p Warrants

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 further to the Notice issued on 5 May 2021, it has received notices to exercise warrants, at 30p per share ("30p Warrants") to subscribe for a total of 260,418 new ordinary shares of NIS 0.001 each in the Company ("Ordinary Shares"). The balance of 166,667 30p Warrants remaining unexercised have been cancelled.

Application has been made to the London Stock Exchange for 260,418 new Ordinary Shares to be admitted to trading on AIM ("Admission") and Admission is expected to occur on or around 18 May 2021. 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 54,322,177 Ordinary Shares. The Company holds no Ordinary Shares in Treasury. This figure of 54,322,177 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.

The Directors of the Company wish to thank all the shareholders who participated in the initial fundraising and subsequently continued their support of the Company through exercising their 20p and 30p Warrants.

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
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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