t
Ethernity Networks Ltd announced on 21 January 2025 that approximately USD 400,000, the remaining balance under its court-approved creditor settlement plan, will be distributed. This distribution is expected during the first quarter of 2025 to the settlement manager's bank account. Upon its completion, Ethernity Networks Ltd will end its liability under the Creditor Settlement Plan, which was previously announced on 5 February 2024.
| Date | 21 Jan 2025 |
| Time | 11:29:29 |
| Category | Corporate updates |
| ID | 1496U |
21 January 2025
ETHERNITY NETWORKS LTD
("Ethernity" or the "Company")
Update re. Creditor Settlement Plan
Ethernity Networks Limited (AIM: ENET.L) (OTCMKTS: ENETF), a leading supplier of data processing semiconductor technology for networking appliances, is pleased to announce that, further to the Company's announcement of 5 February 2024 regarding the court approval of the creditor settlement plan (the "Creditor Settlement Plan"), the remaining balance under the Creditor Settlement Plan, of approximately USD 400,000, will be distributed to the settlement manager's bank account during the first quarter of 2025 (the "Distribution"). Upon completion of the Distribution, the Company will end its liability under the Creditor Settlement Plan, which will allow the Company to improve access to external credit financing resources to support its operations.
For further information, please contact:
|
Ethernity Networks Ltd |
Tel: +972 3 748 9846 |
|
David Levi, Chief Executive Officer Tomer Assis, 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 (www.ethernitynet.com)
Ethernity Networks (AIM: ENET.L) provides innovative, comprehensive networking and security solutions on programmable hardware for accelerating telco/cloud networks. Ethernity's semiconductor 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, edge computing, and Broadband Networks.