23 December 2024
ETHERNITY NETWORKS
LTD
("Ethernity" or the
"Company")
Result of EGM and grant of
options
Ethernity Networks Limited (AIM:
ENET.L) (OTCMKTS: ENETF), a leading supplier of data processing
semiconductor technology for networking appliances, is pleased to
confirm that at its Extraordinary General Meeting, held earlier
today, all resolutions put to shareholders were duly passed on a
poll. The voting results are set out in Appendix A at the end
of this announcement.
Grant of options
Following the passing of the
resolutions, the Company has granted the 30,618,170 options
(the "Options") to certain directors
of the Company on the proposed terms set out in the notice of
general meeting announcement on 15 November 2024, as
follows:
|
Director
|
No. of Options
granted
|
Total options over Ordinary
Shares held post grant
|
Percent of issued share
capital
|
|
David Levi (CEO)
|
21,789,223
|
33,497,242
|
3.35%
|
|
Shavit Baruch (VP
R&D)
|
6,574,161
|
11,070,118
|
1.11%
|
|
Yosi Albagli (Chairman)
|
2,254,786
|
2,749,455
|
0.27%
|
|
TOTAL
|
30,618,170
|
47,316,815
|
4.73%
|
The Options have an exercise price
of £0.00247. The Options will vest over three years in 12
equal portions, with 1/12 of the Options vesting at the end of each
quarter following the date of grant.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
|
1
|
Details of the person discharging
managerial responsibilities / person closely associated
|
|
a)
|
Name
|
1. David Levi,
CEO
2. Shavit Baruch, VP,
R&D
3. Yosi Albagli,
Chairman
|
|
2
|
Reason for the
notification
|
|
a)
|
Position/status
|
As per 1(a)
|
|
b)
|
Initial notification
/Amendment
|
Initial notification
|
|
3
|
Details of the issuer, emission
allowance market participant, auction platform,
auctioneer
or auction monitor
|
|
a)
|
Name
|
Ethernity Networks Ltd.
|
|
b)
|
LEI
|
213800LZJO33QBNXU496
|
|
4
|
Details of the transaction(s):
section to be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii)
each date; and (iv) each place where transactions have been
conducted
|
|
a)
|
Description of the financial
instrument, type of instrument
Identification code
|
ordinary shares of NIS 0.001 nominal
value each
ISIN: IL0011410359
|
|
b)
|
Nature of the transaction
|
Grant of options
|
|
c)
|
Price(s) and volume(s)
|
|
Exercise Price(s)
|
Volume(s)
|
|
All 0.247p
|
1. 21,789,223
2. 6,574,161
3. 2,254,786
|
|
|
d)
|
Aggregated information
|
N/A - single transactions
|
|
e)
|
Date of the transaction
|
23 December 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
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)
(OTCMKTS: ENETF), 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.
Appendix A
|
All
resolutions and voting undertaken and counted in terms of Israel
Companies Law
|
|
Resolution
|
Outcome
|
Votes For
|
Votes
Against
|
%
For
|
%
Against
|
Votes
Withheld
|
|
1. Increasing the authorised share capital of the
Company
|
Passed
|
61,534,933
|
9,203,089
|
86.99%
|
13.01%
|
5,014
|
|
2. Disapplication of pre-emption rights on equity issues for
cash
|
Passed
|
60,922,949
|
9,551,756
|
86.45%
|
13.55%
|
268,331
|
|
3. Approval of Options award to David Levi (1)
|
Passed
|
20,698,450
|
5,977,598
|
77.59%
|
22.41%
|
9,222,372
|
|
4. Approval of Options
award to Shavit Baruch
|
Passed
|
55,543,066
|
5,977,598
|
90.28%
|
9.72%
|
9,222,372
|
|
5. Approval of Options
award to Joseph Albagli
|
Passed
|
55,543,066
|
5,977,598
|
90.28%
|
9.72%
|
9,222,372
|
(1) Votes exclude personal interest
shares
Total votes cast were 70,743,036
representing 7.07% of the Company's total issued share
capital.