Ethernity Networks Ltd — AGM Information 2024

Apr 16, 2024

National Storage Mechanism | Additional information

RNS Number : 8078K

Ethernity Networks Ltd

16 April 2024

16 April 2024

ETHERNITY NETWORKS LTD.

("Ethernity" or the "Company")

Result of Adjourned General Meeting

Appointment of directors

Ethernity Networks (AIM: ENET.L; OTCMKTS: ENETF), a leading supplier of data processing and fibre access semiconductor technology for networking appliances, announces that, further to the Company's announcement on 9 April 2024, the adjourned general meeting of the Company was held earlier today, and all resolutions were duly passed on a poll. The voting results are set out in Appendix A at the end of this announcement.

Proposed grant of options

At the general meeting, resolutions were passed to approve the grant of 17,377,225 options to certain directors of the Company, details of which were announced on 1 March 2024. The options will be granted once the Company is no longer in a closed period, following the publication of the Company's annual report and accounts for the year ended 31 December 2023. A further announcement will be made at that time.

Appointment of directors

Following the passing of the resolutions, Julie Kunstler and Aviva Banczewski have been appointed to the Board of Directors of the Company as External Non-Executive Directors.

Biographies of the directors

Julie Kunstler has over 30 years' experience in the communications components, equipment, and software industry, having served as an executive, venture-fund investor, analyst, and board member. Most recently, Julie held the position of Chief Analyst - Broadband Access Intelligence Service for Omdia (a division of Informa Tech), covering the fixed broadband access industry ecosystem. Prior to joining Omdia, Julie served as VP Business Development for Teknovus, a venture-backed broadband access PON (Passive Optical Network) chip start-up, where she assisted with fundraising, corporate strategy, OEM agreements, and its acquisition by Broadcom.

Aviva Banczewski has over 30 years of varied finance experience including audit, consulting, regulatory and compliance, business and strategic planning and acquisition due diligence assignments. She started her career working for Andersen in both Australia and then Israel for a total of 15 years. Since then, she has held both finance and investor relations roles in publicly traded companies, including ICL Group Ltd, which is listed on the NYSE the Tel Aviv Stock Exchange ("TASE") and Evogene Ltd, which is listed on Nasdaq and TASE. She currently acts as Director of Investor Relations for Pluri, Inc, a Nasdaq and TASE listed company. Aviva has also been a board member of the Israel Australia Chamber of Commerce since November 2022.

Regulatory disclosures

As required under Schedule Two, paragraph (g) of the AIM Rules for Companies, further disclosures on Julie Kunstler and Aviva Banczewski are as follows:

Julie Anne Kunstler (formerly Katzen) is 68 years old. There is no further information on Julie Kunstler required to be disclosed under Schedule Two, paragraph (g) of the AIM Rules for Companies.

Aviva Banczewski, aged 57, holds the following directorships and/or partnerships in the past five years:

Current directorships and/or partnerships:

·    Diagnosis and Rehabilitation Clinic - Functional Capacity Evaluation and Whiplash Center Ltd

·    Israel-Australia, New Zealand & Oceania Chamber of Commerce (RA) (Israel)

There is no further information on Aviva Banczewski required to be disclosed under Schedule Two, paragraph (g) of the AIM Rules for Companies.

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) Douglas Crippen	Tel: +44 (0)20 3003 8632
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 that increase telco/cloud network infrastructure capacity. Ethernity's semiconductor logic offers data processing functionality for different networking applications, innovative patented wireless access technology, and fibre access media controllers, all equipped with control software with a rich set of networking features. Ethernity's solutions quickly adapt to customers' changing needs, improving time-to-market, and facilitating the deployment of 5G over wireless and fibre infrastructure.

Appendix A

Resolution	Votes For	Votes Against	% For	% Against	Votes Withheld
1.    Appointment of Aviva Banczewski as External Director	44,799,632	430,414	99.05%	0.95%	1,244,495
2.    Appointment of Julie Kunstler as External Director	44,799,632	430,414	99.05%	0.95%	1,244,495
3.    Disapplication of pre-emption rights on equity issues for cash	42,147,733	3,082,313	93.19%	6.81%	1,244,495
4.    Approval of Options award to David Levi(1)	23,850,567	430,414	98.23%	1.77%	1,244,495
5.    Approval of Options award to Shavit Baruch	44,799,632	430,414	99.05%	0.95%	1,244,495
6.    Approval of Options award to Ayala Deutsch	42,898,439	2,331,607	94.85%	5.15%	1,244,495
7.    Approval of Options award to Joseph Albagli	44,799,632	430,414	99.05%	0.95%	1,244,495
8.    Approval of Amendments to the Articles Regarding Quorum for Shareholder Meetings	44,397,593	430,414	99.04%	0.96%	1,646,534

(1)  Votes exclude personal interest shares

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