Ethernity Networks Ltd Additional Payment under Share subscription Agmt (4831W)

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RNS Number : 4831W

Ethernity Networks Ltd

26 April 2021

26 April 2021

ETHERNITY NETWORKS LTD

("Ethernity" or the "Company")

Additional payment under Share Subscription Agreement

Ethernity Networks Ltd (AIM: ENET.L), a leading supplier of networking processing technology ported on FPGA (field programmable gate array) for virtualised networking appliances, announces that, under the investment agreement with 5G Innovation Leaders Fund LLC (the "Subscriber"), a U.S.-based specialist investor, as announced on 25 September 2020 (the "Agreement"), the Subscriber has elected to make an additional payment of GBP256,766, rather than apply the 880,000 Shares issued to the Subscriber at the time of the Agreement towards the number of Shares that the Company issues under the Agreement. Payment has been received by the Company.

For further information, please contact:

 
Ethernity Networks Ltd.                      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 (AIM: ENET.L) provides innovative, comprehensive networking and security solutions on programmable hardware for accelerating telco/cloud networks. 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, edge computing, and NFV.

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April 26, 2021 02:00 ET (06:00 GMT)