Ethernity Networks Ltd Broker Option fully subscribed (8774S)
July 14 2020 - 1:00AM
UK Regulatory
TIDMENET
RNS Number : 8774S
Ethernity Networks Ltd
14 July 2020
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the
publication of this announcement via a Regulatory Information
Service, this inside information is now considered to be in the
public domain.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED
STATES, AUSTRALIA, NEW ZEALAND, CANADA, JAPAN OR THE REPUBLIC OF
SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE
UNLAWFUL .
THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO BUY, ACQUIRE
OR SUBSCRIBE FOR (OR THE SOLICITATION OF AN OFFER TO BUY, ACQUIRE
OR SUBSCRIBE FOR) ORDINARY SHARES TO ANY PERSON WITH A REGISTERED
ADDRESS IN, LOCATED IN, OR WHO IS A RESIDENT OF, THE UNITED STATES,
AUSTRALIA, NEW ZEALAND, CANADA, JAPAN OR THE REPUBLIC OF SOUTH
AFRICA OR IN ANY OTHER JURISDICTION IN WHICH SUCH OFFER,
SOLICITATION OR SALE WOULD BE UNLAWFUL OR CONTRAVENE ANY
REGISTRATION OR QUALIFICATION REQUIREMENTS UNDER THE SECURITIES
LAWS OF ANY SUCH JURISDICTION.
14 July 2020
ETHERNITY NETWORKS LTD.
("Ethernity" or the "Company")
Broker Option - Fully Subscribed
Further to the Company's announcement at 7.00 a.m. on 13 July
2020 (the "Fundraise Announcement"), Ethernity is pleased to
announce that the Broker Option, a facility to allow existing
shareholders to participate in the Fundraising on similar terms to
the Placing and Subscription announced, has been fully
subscribed.
The Broker Option has raised GBP100,000.08 at a price of 12p per
share through the issue of 833,334 new Ordinary Shares ("Broker
Option Shares"), together with associated Warrants.
This brings the total amount raised under the Fundraising and
Broker Option to GBP880,000 (before expenses).
Admission
The Broker Option Shares will rank pari passu with the Company's
existing Ordinary Shares and application has been made to the
London Stock Exchange for admission of the Broker Option Shares to
trading on AIM ("Admission"). Admission is expected to occur at
8.00 a.m. on or around 16 July 2020.
Additional broker warrants
Peterhouse has been issued with an additional 36,084 warrants to
subscribe for a further new Ordinary Shares at the Issue Price per
share. The warrants have a life term of 12 months from the date of
Admission.
Total voting rights
Following Admission, including the new Ordinary Shares issued
via the Broker Option, the Placing and the Fundraising, the
Company's enlarged issued share capital will be 40,028,020 Ordinary
Shares. The Company holds no Ordinary Shares in Treasury. This
figure of 40,028,020 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 and Transparency Rules.
Defined terms in this announcement have the same meaning as in
the Fundraise Announcement, unless otherwise specified.
For further information, please contact:
Ethernity Networks Tel: +972 8 915 0392
David Levi, Chief Executive Officer
Mark Reichenberg, Chief Financial
Officer
Arden Partners plc (NOMAD and Joint Tel: +44 207 614 5900
Broker)
Richard Johnson / Benjamin Cryer
Peterhouse Capital Limited (Joint Tel: +44 20 7562 0930
Broker)
Lucy Williams / Duncan Vasey / Eran
Zucker
VSA Capital Limited (Joint Broker) Tel: +44 20 3005 5000
Andrew Monk, Corporate Broking
Simon Barton, Corporate Finance
The PR Office Tel: +44 207 284 6969
Marc Cohen/Tom Gilby
ethernity@theproffice.com
About Ethernity ( www.ethernitynet.com )
Ethernity Networks Ltd. (AIM: ENET) provides innovative,
comprehensive networking and security solutions on programmable
hardware for accelerating telco/cloud networks performance.
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 and edge computing.
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.
END
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