Business
Placing to raise £88,750
Placing to raise £88,750.
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 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.\n \nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM, AUSTRALIA, NEW ZEALAND, CANADA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.\n \nTHIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO BUY, ACQUIRE OR SUBSCRIBE FOR (OR THE SOLICITATION OF 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 \n \n14 March 2025\n \nETHERNITY NETWORKS LTD\n(\"Ethernity\" or the \"Company\")\n \nPlacing to raise £88,750\n \nEthernity Networks Limited (AIM: ENET.L) (OTCMKTS: ENETF), a leading supplier of data processing semiconductor technology for networking appliances, announces a placing (the \"Placing\") to raise £88,750 (gross) through the issue of 177,500,000 new ordinary shares of NIS 0.001 each (\"Placing Shares\") at an issue price of 0.05p per share (the \"Issue Price). CMC Markets UK Plc trading as CMC CapX, acted as the Company's placing agent in respect of the placing.\n \nHighlights\n \n· Placing to raise £88,750 through the issue of Placing Shares at the Issue Price.\n \n· Admission of the Placing Shares is expected to occur on or around 20 March 2025.\n \nBackground to, reasons for the Placing and use of proceeds\n \nThe Directors consider that it is appropriate to undertake the Placing at this time in order to provide additional working capital to fund the Company. Further to the Company's announcement of 21 January 2025, pursuant to the creditor settlement plan, the Compa...