Ethernity Networks Ltd — Board/Management Information 2023

Jul 26, 2023

National Storage Mechanism | Additional information

RNS Number : 1746H

Ethernity Networks Ltd

26 July 2023

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the UK version of 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.

26 July 2023

ETHERNITY NETWORKS LTD.

("Ethernity" or the "Company")

Directorate Change and Amendment to Resolution of the Annual General Meeting

Ethernity Networks (AIM: ENET.L; OTCQB: ENETF), a leading supplier of data processing semiconductor technology for networking appliances, announces that by mutual agreement, Mark Reichenberg, Chief Financial Officer, will be stepping down from the Board with effect from 31 July 2023.

The Board has commenced an internal and external search for a suitable candidate for the role of Chief Financial Officer and the Company will make a further announcement in due course. In the interim period, Ayala Deutsch, Vice President of Finance, will manage the CFO duties.

Amendment to proposed Annual General Meeting ("AGM") Resolution

Resolution 5 proposed for the AGM of 14 August 2023 provides for the re-election of Mark Reichenberg as a director, this resolution will now not be proposed at the meeting.

Yosi Albagli, Ethernity's Chairman, said:

"I would like to sincerely thank Mark for his significant contribution to the development of the Company, both for his role in assisting the Company's Admission to AIM and his role as CFO; we all wish Mark every success in the future".

For further information, please contact:

Ethernity Networks Ltd	Tel: +972 8 915 0392
David Levi, Chief Executive Officer
Mark Reichenberg, 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)
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 OTCQB: 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.

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