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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Ethernity Networks Ltd | LSE:ENET | London | Ordinary Share | IL0011410359 | ORD NIS0.001 (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.025 | -2.94% | 0.825 | 0.80 | 0.85 | 0.85 | 0.825 | 0.85 | 5,559,928 | 08:20:28 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Communications Equip, Nec | 2.94M | -8M | -0.0212 | -0.38 | 3.02M |
TIDMENET
RNS Number : 1598B
Ethernity Networks Ltd
29 September 2022
29 September 2022
ETHERNITY NETWORKS LTD
("Ethernity" or the "Company")
Subscription agreement part settlement and TVR
Ethernity Networks Ltd (AIM: ENET.L; OTCQB: ENETF), a leading supplier of networking processing semiconductor technology ported on FPGA (field programmable gate array) for virtualised networking appliances, announces that it has received a settlement notice for $320,000 from 5G Innovation Leaders Fund LLC (the "Subscriber") pursuant to the share subscription agreement, details of which were announced on 25 February 2022 (the "Subscription Agreement").
Accordingly, the Company has issued and allotted 2,695,593 new ordinary shares of NIS 0.001 each in the Company ("Ordinary Shares") to the Subscriber at a deemed issue price of 10.95p per Ordinary Share (the "Settlement Shares"). The issue price has been calculated pursuant to the price mechanism and additional price protection mechanism set out in the announcement of the Subscription Agreement on 25 February 2022.
Application has been made to the London Stock Exchange for the Settlement Shares to be admitted to trading on AIM ("Admission") and Admission is expected to occur on or around 5 October 2022. The Settlement Shares will, upon Admission, rank pari passu with the existing Ordinary Shares in the Company.
Following the receipt of this settlement notice and the issue of the Settlement Shares, the remaining outstanding balance under the Subscription Agreement is $1,740,000.
Total voting rights
Following Admission, the Company's enlarged issued share capital will be 78,084,437 Ordinary Shares. The Company holds no Ordinary Shares in Treasury. This figure of 78,084,437 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 (Sales and Corporate Broking) Peterhouse Capital Limited (Joint Broker) Tel: +44 (0)20 7562 0930 Lucy Williams / Duncan Vasey / Eran Zucker Harbor Access Inc (US Investor Relations) Tel: + 1 (475) 477 Jonathan Paterson 9401
MARKET ABUSE REGULATION
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse (amendment) (EU Exit) Regulations 2019/310 ("MAR"). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
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 rns@lseg.com or visit www.rns.com.
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END
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(END) Dow Jones Newswires
September 29, 2022 04:56 ET (08:56 GMT)
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