REG - Ethernity Networks - Grant of options

Ethernity NetworksAnnouncement

02/05/2024 07:00

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RNS Number : 9010M  Ethernity Networks Ltd  02 May 2024

02 May 2024

ETHERNITY NETWORKS LIMITED

("Ethernity" or the "Company")

 

Grant of options

 

Ethernity Networks Limited (AIM: ENET.L) (OTCMKTS: ENETF), a leading supplier
of data processing semiconductor technology for networking appliances,
announces that, further to the announcement on 1 March 2024 (the
"Announcement") and following the approval of the resolutions at the general
meeting of the Company on 16 April 2024, the Company has granted the
17,377,225 options (the "Options") to certain directors of the Company on the
proposed terms set out in the Announcement, as follows:

 Director                    No. of Options granted  Total options over Ordinary Shares  now held   Percent of issued share capital
 David Levi (CEO)            11,447,309              11,647,309                                     3.08%
 Shavit Baruch (VP R&D)      4,235,247               4,435,247                                      1.17%
 Ayala Deutsch (CFO)         1,200,000               1,270,000                                      0.34%
 Yosi Albagli (Chairman)     494,669                 494,669                                        0.13%
 TOTAL                       17,377,225              17,847,225                                     4.73%

 

The Options have an exercise price of 1.5p and 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.   Ayala Deutsch, CFO

                                                                   4.   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  ordinary shares of NIS 0.001 nominal value each

      Identification code                                          ISIN: IL0011410359
 b)   Nature of the transaction                                    Grant of options
 c)   Price(s) and volume(s)

Exercise Price(s)  Volume(s)
                                                                   All 1.5p           1. 11,447,309

                                                                             2. 4,235,247

                                                                             3. 1,200,000

                                                                             4. 494,669
 d)   Aggregated information                                       N/a - single transactions
 e)   Date of the transaction                                      01 May 2024
 f)   Place of the transaction                                     Outside a trading venue

d)

Aggregated information

N/a - single transactions

e)

Date of the transaction

01 May 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

 Ayala Deutsch, 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 Networks

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

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