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RNS Number : 0423W

Ethernity Networks Ltd

07 December 2023

7 December 2023

ETHERNITY NETWORKS LTD.

("Ethernity" or the "Company")

Adjournment of General Meeting

Ethernity Networks (AIM: ENET.L; OTCMKTS: ENETF), a leading supplier of data processing and fibre access semiconductor technology for networking appliances, announces that its general meeting due to be held earlier today (the "General Meeting") has been adjourned.

Pursuant to the company's Articles of Association and as set out in the notice of General Meeting, a general meeting of shareholders is quorate if there are two or more shareholders present in person or by proxy and holding ordinary shares conferring in aggregate 25 per cent. or more of the voting power of the Company.

At the General Meeting, shareholders present in person or by proxy did not represent ordinary shares conferring 25 per cent. or more of the voting rights of the Company and therefore the meeting was not quorate.

As set out in the notice of General Meeting, if within half an hour from the time appointed for the General Meeting a quorum is not present, the General Meeting shall be adjourned to the same day in the next week, at the same time and place. Only those shareholders registered in the Company's register of shareholders as of close of business (UK time) on 30 November 2023 are entitled to attend and/or vote at the adjourned meeting. Two or more shareholders who attend the adjourned meeting in person or by proxy will constitute a quorum, regardless of the number ordinary shares they hold or represent.

The adjourned general meeting will therefore be held at 3rd Floor Beit Golan, 1 Golan St. Corner HaNegev, Airport City 7019900, Israel at 11:00 a.m. IST (09:00 a.m. GMT) on 14 December 2023 (the "Adjourned Meeting"). Valid proxy votes submitted in respect of the General Meeting will be counted at the Adjourned Meeting. Based on the proxy votes and forms of direction received for the General Meeting, had the meeting been quorate, the resolutions would have been passed.

For further information, please contact:

 
 Ethernity Networks Ltd                       Tel: +972 8 915 0392 
  David Levi, Chief Executive Officer 
 
  Allenby Capital Limited (Nominated Adviser   Tel: +44 (0)20 3328 
   and Joint Broker)                            5656 
  James Reeve / Piers Shimwell (Corporate 
   Finance) 
   Amrit Nahal / Stefano Aquilino (Sales 
   and Corporate Broking) 
  Peterhouse Capital Limited (Joint Broker)    Tel: +44 (0)20 7562 
                                                0930 
  Lucy Williams / Duncan Vasey / Eran Zucker

About Ethernity (www.ethernitynet.com)

Ethernity Networks (AIM: ENET.L OTCMKTS: ENETF) provides innovative, comprehensive networking and security solutions on programmable hardware that increase telco/cloud network infrastructure capacity. Ethernity's semiconductor logic offers data processing functionality for different networking applications, innovative patented wireless access technology, and fibre access media controllers, all equipped with control software with a rich set of networking features. Ethernity's solutions quickly adapt to customers' changing needs, improving time-to-market, and facilitating the deployment of 5G over wireless and fibre infrastructure.

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