Ethernity Networks Ltd Notice of AGM and Issue of Director Shares (0977F)
July 06 2023 - 2:00AM
UK Regulatory
TIDMENET
RNS Number : 0977F
Ethernity Networks Ltd
06 July 2023
6 July 2023
ETHERNITY NETWORKS LTD.
("Ethernity" or the "Company")
Notice of AGM and Issue of Director Shares
Ethernity Networks (AIM: ENET.L OTCQB:ENETF), a leading supplier
of data processing semiconductor technology for networking
appliances and fiber access controller for PON networks, announces
that its notice of annual general meeting ("AGM") is being
despatched to shareholders shortly. A copy of the AGM notice,
together with the forms of proxy and direction, are available on
the Company's website at: www.ethernitynet.com .
The AGM will be held at the offices of the Company at 3rd Floor,
Beit Golan, 1 Golan St. Corner HaNegev, Airport City 7019900 Israel
at 9.00 a.m. UK time (11.00 a.m. Israel time) on 14 August 2023
.
Issue of shares to a Director
Under his contract, Yosi Albagli receives a portion of his
annual remuneration as non-Executive Chairman in new ordinary
shares of NIS 0.001 each in the Company ("Ordinary Shares").
Consequently, the Company has issued 126,347 new Ordinary Shares
to Mr Albagli, in satisfaction of the share element of his
remuneration for the period from 1 March 2022 to 28 February 2023
at an average issue price of 11.87p per share. Following this
issue, Mr Albagli will be interested in 256,787 Ordinary Shares,
representing 0.19% of the Company's enlarged issued share
capital.
Application will be made to the London Stock Exchange for
126,347 new Ordinary Shares to be admitted to trading on AIM
("Admission") and Admission is expected to occur on or around 12
July 2023. 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
136,916,888 Ordinary Shares. The Company holds no Ordinary Shares
in Treasury. This figure of 136,916,888 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:
Ethernity Networks Ltd Tel: +972 8 915 0392
David Levi, Chief Executive Officer
Mark Reichenberg, Chief Financial Officer
Allenby Capital Limited (Nominated Adviser Tel: +44 (0)20 3328
and Joint Broker) 5656
James Reeve / Piers Shimwell (Corporate
Finance)
Amrit Nahal / Stefano Aquilino (Sales and
Corporate Broking)
Peterhouse Capital Limited (Joint Broker) Tel: +44 (0)20 7562
0930
Lucy Williams / Duncan Vasey / Eran Zucker
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
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Joseph Albagli
----------------------------------- --------------------------------------------
Reason for the notification
2
---------------------------------------------------------------------------------
a) Position/status Director
----------------------------------- --------------------------------------------
b) Initial notification /Amendment Initial notification
----------------------------------- --------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer
or auction monitor
---------------------------------------------------------------------------------
a) Name Ethernity Networks Ltd.
----------------------------------- --------------------------------------------
b) LEI 213800LZJO33QBNXU496
----------------------------------- --------------------------------------------
Details of the transaction(s): section to be repeated for (i)
4 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 ordinary shares of NIS 0.001 nominal
instrument, type of value each
instrument Identification code ISIN: IL0011410359
b) Nature of the transaction Shares element of annual remuneration
c) Price(s) and volume(s)
---------------------- -----------------
Price(s) Volume(s)
---------------------- -----------------
Allotment of shares Average 11.87p 126,347
-------------------------- -----------------
d) Aggregated information N/a - single transactions
e) Date of the transaction 6 July 2023
f) Place of the transaction Outside of a trading venue
----------------------------------- --------------------------------------------
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END
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