Ethernity Networks Ltd Amendment to Structured Investment Deed

RNS Number : 2797K

Ethernity Networks Ltd

30 October 2024

 

30 October 2024

                       

ETHERNITY NETWORKS LTD.

 

("Ethernity" or the "Company")

 

Amendment to Structured Investment Deed

 

Ethernity Networks Ltd (AIM: ENET.L), a leading supplier of data processing semiconductor technology for networking appliances, announces that it has today entered into a deed of variation ("Deed of Variation") to the Structured Investment Deed (the "Investment Deed") with New Technology Capital Group, LLC ("New Tech"), the details of which were announced on 17 May 2024 and 15 July 2024 (the "Announcements").

The Deed of Variation provides that the formula to determine the exercise price for the issuance of ordinary shares to New Tech under the Investment Deed shall now be calculated as the average (in pounds Sterling, rounded down to four decimal places (i.e. the nearest one hundredth of a penny) if such price is below or equal to 0.1p or rounded down to three decimal places (i.e. the nearest one tenth of a penny) if it is above 0.1p) of the lowest five daily VWAPs of an Ordinary Share (rounded down to the nearest one hundredth of a penny if such price is below or equal to 0.1p or one tenth of a penny if it is above 0.1p) during the twenty trading days before the receipt of a Warrant exercise notice by the Company, less a 15% discount, rounded down to the nearest one hundredth of a penny if such price is below or equal to 0.1p or one tenth of a penny if it is above 0.1p. All other terms of the Investment Deed remain as set out in the Announcements.

For further information, please contact:

 

Ethernity Networks Ltd                                                                    Tel: [phone]

David Levi, Chief Executive Officer

Tomer Assis, Chief Financial Officer

 

Allenby Capital Limited (Nominated Adviser and Joint Broker)      Tel: [phone]

James Reeve / Piers Shimwell (Corporate Finance)

Amrit Nahal / Stefano Aquilino (Sales and Corporate Broking)

 

CMC Markets UK plc (Joint Broker)                                               Tel: [phone]

Douglas Crippen

 

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 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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

 

END

 

 

UPDZZMFGDGLGDZM