Business
Commencement of trading on the OTCQB Market
Commencement of trading on the OTCQB Market.
About this update from Ethernity Networks Ltd.
[{"type":"text","content":"\n \n \n 6 September 2022\n \n \n \n \n \n \n ETHERNITY NETWORKS LTD\n \n \n \n (\"Ethernity\" or the \"Company\")\n \n \n \n \n \n \n Commencement of trading on the OTCQB Market in the USA\n \n \n \n \n \n \n Ethernity Networks Ltd (AIM: ENET.L),\n a leading supplier of data processing offload solutions on programmable FPGA (field programmable gate array) for accelerating telco/cloud networks\n , is pleased to announce that trading in the Company's ordinary shares (\"Ordinary Shares\") will begin today on the OTCQB Venture Market (\"OTCQB\"), in the United States, under the ticker symbol \"ENETF\".\n \n \n \n \n \n Trading on the OTCQB will have no direct impact on the trading of Ethernity's existing Ordinary Shares on AIM, which will continue to trade on AIM under the ticker \"ENET\", and no new Ordinary Shares will be issued as part of the cross-trade. The Company will continue to rely on the announcements and disclosures it makes to the London Stock Exchange and will have no Sarbanes-Oxley or Securities and Exchange Commission (SEC) reporting requirements.\n \n \n \n \n \n The OTCQB is recognised by the SEC as an established public market providing data that investors need to analyse, value and trade securities. The Directors believe that being part of an established financial marketplace will assist in diversifying the Company's shareholder base with increased liquidity and brand visibility while maintaining a high level of transparent trading, annual verification, continuous regulation and provide a strong baseline of transparency to inform and engage investors.\n \n \n \n \n \n Cross trading on the OTCQB allows the Company access to one of the world's largest investment markets to expand its reach into a broader pool of investors. Ethernity's shares will be available to US investors during US working hours and priced in US dollars, which has the potential to enable greater liquidity in the Company's Ordinary Shares on AIM by easing cross-border trading for potential US investors. Further information about the OTCQB can be found at:\n \n \n \n \n \n \n \n www.otcmarkets.com/learn/market-101\n \n \n \n \n \n \n \n As a Foreign Private Issuer, the Company's onboarding to the OTC Markets is based on satisfaction of the requirements for OTCQB as applicable to internatio...