Ethernity Networks Ltd Update on Share Subscription Agreement (3783M)
September 14 2023 - 2:00AM
UK Regulatory
TIDMENET
RNS Number : 3783M
Ethernity Networks Ltd
14 September 2023
14 September 2023
ETHERNITY NETWORKS LTD
("Ethernity" or the "Company")
Update on Share Subscription Agreement
Ethernity Networks Ltd (AIM: ENET.L; OTCMKTS: ENETF), a leading
supplier of networking processing semiconductor technology ported
on FPGA (field programmable gate array) for virtualised networking
appliances , provides the following update.
As announced on 25 February 2022, on that date, Ethernity
entered into a Share Subscription Agreement ("Subscription
Agreement") with 5G Innovation Leaders Fund ("Investor"), whereby
the Investor invested $2 million, by way of a prepayment for new
ordinary shares in Ethernity, to be issued at a later date at the
Investor's request. The balance currently outstanding under the
Subscription Agreement is $1,410,000 (approximately GBP1.1
million). The date by which the Investor may request for Ethernity
shares to be issued has been extended to 3 March 2024 in accordance
with the terms of the Subscription Agreement. All other terms
remain unchanged and as announced on 25 February 2022.
For further information, please contact:
Ethernity Networks Ltd Tel: +972 3 748 9846
David Levi, Chief Executive 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) 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.
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