Business
Placing and business update
Ethernity Networks Limited announced a proposed placing to raise £367,500 by issuing 9,187,500,000 new ordinary shares at £0.00004 per share, with participants receiving one warrant for every two shares subscribed, exercisable at the same price for 12 months and potentially raising an additional £367,500. The company reported unaudited revenue of approximately US$1.03 million for the year ended 31 December 2025 and anticipates US$1.7 million to US$2 million in revenue for 2026 from existing customers, with further opportunities from new product development and collaborations. Proceeds will fund working capital and repay short-term debt, with directors potentially converting up to £70,000 of accrued salaries into shares. Disclaimer*
About this update from Ethernity Networks Ltd.
[{"type":"text","content":"\n\nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the UK version of the Market Abuse Regulation (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.\n \nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO AUSTRALIA, NEW ZEALAND, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE SUCH ACTION WOULD BE UNLAWFUL.\n \nTHIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO BUY, ACQUIRE OR SUBSCRIBE FOR ORDINARY SHARES TO ANY PERSON WITH A REGISTERED ADDRESS IN, LOCATED IN, OR WHO IS A RESIDENT OF, THE UNITED STATES, AUSTRALIA, NEW ZEALAND, CANADA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR IN ANY OTHER JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL OR CONTRAVENE ANY REGISTRATION OR QUALIFICATION REQUIREMENTS UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.\n \n2 February 2026\nEthernity Networks Limited\n(\"Ethernity\" or the \"Company\")\n \nPlacing and business update\n \nEthernity Networks Limited (AIM: ENET.L; OTCMKTS: ENETF), a leading supplier of data processing and PON semiconductor technology for networking appliances, is pleased to announce a proposed placing of 9,187,500,000 new ordinary shares of no par value (\"Placing Shares\") at an issue price of £0.00004 (0.004p) per share (the \"Placing Price\") to raise a total of £367,500 (approximately US$505,000) before expenses (the \"Placing\").\n \nIt is intended that participants in the Placing will receive one warrant for every Placing Share subscribed for, exercisable at the Placing Price for a period of 12 months from date of grant (the \"Warrants\"), with an acceleration clause triggered should the Company's share price reach 0.006 pence. If exercised in full, the exercise of the Warrants would provide an additional £367,500 of gross proceeds to the Company.\nThe grant of the Warrants is conditional on the Company convening a general meeting (the \"EGM\") to seek approval for an increase in the Company's authorities to issue and allot new ordinary shares of no par value (\"Ordinary Shares\"). A circular convening the EGM will be posted shortly...