26
September 2024
ETHERNITY NETWORKS
LTD
("Ethernity" or the
"Company")
Director
Subscription
Ethernity Networks (AIM: ENET.L;
OTCMKTS: ENETF), a leading supplier of data processing
semiconductor technology for networking appliances, announces a
subscription for new ordinary shares of NIS 0.001 each
("Ordinary Shares") in the
Company by David Levi, CEO (the "Director
Subscription") and the issue of
Warrants to Mr Levi, details of which were set out in the
announcement of the Company's recent placing (the
"Placing") on 9 September 2024
(the "Placing Announcement").
Following the publication of the
interim results for the six months ended 30 June 2024, David Levi
has conditionally subscribed for 9,008,333 new Ordinary Shares (the
"Subscription Shares") at a
price of 0.3p per share, raising a further £27,025 for the Company.
The Subscription Shares have been subscribed for on substantially
identical terms as those of the Placing.
David Levi has also been granted one
Warrant for every Subscription Share subscribed for, exercisable at
a price of 0.75p per share. The Warrant is exercisable for a period
of 18 months from the date of the Placing Announcement and all
other terms are the same as the Warrants issued in connection with
the Placing, as detailed in the Placing Announcement.
Admission to trading
The Subscription Shares are being
issued pursuant to the Company's existing authorities to issue and
allot new Ordinary Shares free of pre-emption rights. The
Subscription Shares will rank pari passu with the Company's existing
Ordinary Shares. Application is being made for the admission of the
9,008,333 Subscription Shares to trading on AIM
("Admission") and Admission is
expected to occur at 8.00 a.m. on or around 2 October
2024.
Total voting rights
Following Admission, the Company's
enlarged issued share capital will be 707,233,909 Ordinary Shares.
The Company holds no Ordinary Shares in Treasury. This figure of
707,233,909 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.
Director Shareholding
Following Admission, David Levi will
hold 29,957,398 Ordinary Shares, representing 4.24% of the
Company's enlarged share capital.
Unless otherwise defined,
definitions contained in this announcement have the same meaning as
set out in the Placing Announcement.
For
further information, please contact:
|
Ethernity Networks Ltd
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Tel: +972 3 748 9846
|
|
David Levi, Chief Executive
Officer
Ayala Deutsch, Chief Financial
Officer
|
|
|
|
|
|
Allenby Capital Limited (Nominated Adviser and Joint
Broker)
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Tel: +44 (0)20 3328 5656
|
|
James Reeve / Piers Shimwell
(Corporate Finance)
Amrit Nahal / Stefano Aquilino
(Sales and Corporate Broking)
|
|
|
|
|
|
CMC
Markets UK plc (Joint Broker)
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Tel: +44 (0)20 3003 8632
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Douglas Crippen
|
|
|
|
|
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Peterhouse Capital Limited (Joint Broker)
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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 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.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
|
1
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Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
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Name
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David Levi
|
|
2
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Reason for the notification
|
|
a)
|
Position/status
|
CEO
|
|
b)
|
Initial notification /Amendment
|
Initial notification
|
|
3
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Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
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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
|
Ordinary shares of NIS 0.001 nominal
value each
ISIN: IL0011410359
|
|
b)
|
Nature of the transaction
|
Subscription for new ordinary
shares
|
|
c)
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Price(s) and volume(s)
|
|
|
|
|
|
|
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Price(s)
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Volume(s)
|
|
|
|
|
0.3p
|
9,008,333
|
|
|
d)
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Aggregated information
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N/a - single transaction
|
|
e)
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Date of the transaction
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26 September 2024 to be completed on
2 October 2024
|
|
f)
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Place of the transaction
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Outside a trading venue
|
|
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 to subscribe for Ordinary
Shares
|
|
b)
|
Nature of the transaction
|
Subscription for new ordinary
shares
|
|
c)
|
Price(s) and volume(s)
|
|
|
|
|
|
|
|
Price(s)
|
Volume(s)
|
|
|
|
|
0.75p exercise price
|
9,008,333
|
|
|
d)
|
Aggregated information
|
N/a - single transaction
|
|
e)
|
Date of the transaction
|
26 September 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|