Ethernity Net Regulatory News (ENET)

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 £100,000.08 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 £880,000 (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:

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.