Last checked at 14 Nov 2023 17:46
14 November 2023
Ethernity Networks Ltd
("Ethernity" or the "Company")
Change to date of General Meeting
Ethernity Networks Ltd (AIM: ENET; OTCMKTS: ENETF), a leading supplier of networking processing semiconductor technology ported on field programmable gate arrays for virtualised networking appliances, announces that the date and time of the Company's upcoming general meeting ("General Meeting"), details of which were announced on 10 November 2023, has been changed to 11:00 a.m. IST (09:00 a.m. GMT) on 7 December 2023 at 3rd Floor Beit Golan, 1 Golan St. Corner HaNegev, Airport City 7019900, Israel.
The Company will shortly be posting to shareholders a new circular convening the General Meeting on the revised date, a copy of which will be made available on the Company's website at: https://ethernitynet.com/investors/. The date of the General Meeting has been brought forward as the Directors of Ethernity believe that it is in the best interests of the Company to secure the increase in authority to issue shares free of pre-emption rights as soon as possible, to give the Company the best opportunity to exit the ongoing temporary suspension of proceedings ("TSP") process.
As previously announced, in order to exit the TSP, it is expected that the Company will be required to raise additional funds. Whilst the structure of this is not yet known, the Board believes it is prudent to put in place sufficient authorities to permit an equity fundraising. Should any fundraise take place, the Company will prioritise structures that would enable existing shareholders to participate on the same terms as any incoming investors.
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