Business
Result of EGM and other matters
Ethernity Networks Limited announced that all resolutions were passed at its Extraordinary General Meeting, leading to the reclassification of existing ordinary shares into new ordinary shares of no par value, effective December 5, 2025, with the total number of shares remaining 5,747,790,934. Following this, a convertible loan note of £182,500 will convert, resulting in the issuance of 4,284,037,559 new ordinary shares at a conversion price of £0.0000426. Admission of these conversion shares to AIM is expected around December 5, 2025, increasing the company's enlarged issued share capital to 10,031,828,493 new ordinary shares. Disclaimer*
About this update from Ethernity Networks Ltd.
[{"type":"text","content":"\n\n2 December 2025\nETHERNITY NETWORKS LIMITED\n(\"Ethernity\" or the \"Company\")\n \nResult of EGM, Reclassification of Ordinary Shares and CLN Conversion\n \nTotal voting rights\n \nEthernity Networks Limited (AIM: ENET.L) (OTCMKTS: ENETF), a leading supplier of data processing semiconductor technology for networking appliances and PON, is pleased to confirm that at the Company's Extraordinary General Meeting (\"EGM\"), held earlier today, all resolutions put to shareholders were duly passed on a poll. The voting results are set out in Appendix A at the end of this announcement.\n \nReclassification of Ordinary Shares\nFollowing the passing of the resolutions at the EGM, each existing ordinary share of NIS 0.001 each (\"Existing Ordinary Shares\") will be reclassified into one ordinary share of no par value each (\"New Ordinary Shares\") with effect from 5 December 2025 (the \"Reclassification\").\n \nOn completion of the Reclassification, the Company's shares will continue to trade on AIM under the existing depository interest under the current ISIN IL0011410359 and existing ticker \"ENET\". The New Ordinary Shares will, in all material respects, have the same rights (including rights as to voting, dividends and return of capital) as the Existing Ordinary Shares, save for their nominal value and there will be the same number of New Ordinary Shares as Existing Ordinary Shares, being 5,747,790,934. Existing share certificates should be retained and will remain valid following the Reclassification.\n \nConversion of CLN\nAs announced by the Company on 6 November 2025, Ethernity conditionally raised £182,500 by the issue of a convertible loan note (\"CLN\"). On completion of the Reclassification, the CLN will automatically convert resulting in the Company issuing 4,284,037,559 New Ordinary Shares (\"CLN Conversion Shares\") at a conversion price of £0.0000426 (0.00426p).\n \nAdmission\nApplication will be made for the admission of the 4,284,037,559 CLN Conversion Shares to trading on AIM (\"Admission\"). Admission is expected to occur at 8.00 a.m. on or around 5 December 2025.\n \nTotal Voting Rights\nFollowing Admission, the Company's enlarged issued share capital will comprise 10,031,828,493 New Ordinary Shares. The Company holds no shares in treasury. This figure may be used by shareho...