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: +972 3 748 9846
David Levi, Chief Executive
Officer
Tomer Assis, Chief Financial
Officer
Allenby Capital Limited (Nominated Adviser and Joint Broker) Tel: +44
(0)20 3328 5656
James Reeve / Piers Shimwell
(Corporate Finance)
Amrit Nahal / Stefano Aquilino
(Sales and Corporate Broking)
CMC
Markets UK plc (Joint
Broker)
Tel: +44 (0)20 3003 8632
Douglas Crippen
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) 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.