Investor Relations

Our live share price can be found here: ENET.L at the London Stock Exchange

About Ethernity Networks

Ethernity Networks delivers innovative software solutions for networking and security, ported on any FPGA. We offer complete data processing solutions with a rich set of networking features, robust security, and a wide range of virtual functions to optimise and accelerate telco/cloud networks. Our complete solutions, which are now being implemented, facilitate the deployment of edge computing, 5G, IoT, and NFV.

As the holders of six US patents for our technology, Ethernity is uniquely positioned to enable the delivery of optimised offerings that can not only accelerate network performance, but can also save our customers on their operating expenses, such as power consumption and physical space, by reducing the required number of computer server CPU cores.

As a company, we embrace the ten principles of the Quoted Company Alliance (QCA) Code, and we refer you to our Corporate Governance section for more detailed information.

The following is our most up-to-date company presentation:

Our live share price can be found here: ENET.L at the London Stock Exchange

Financial Summary

As of 13 March 2024

There are no shares held in Treasury

There are no restrictions on the transfer of AIM securities

Key Shareholders

Significant shareholders as of 13 March 2024

Our live share price can be found here: ENET.L at the London Stock Exchange

THE QUOTED COMPANY ALLIANCE (QCA) CODE

COMPANY STATEMENT

The Directors recognise the importance of good corporate governance and have chosen to apply the Quoted Companies Alliance Corporate Governance Code (the ‘QCA Code’). The QCA Code was developed by the QCA as an alternative corporate governance code applicable to AIM companies. The underlying principle of the QCA Code is that “the purpose of good corporate governance is to ensure that the Company is managed in an efficient, effective and entrepreneurial manner for the benefit of all shareholders over the longer term”. It is the Board’s job to ensure that Ethernity Networks is managed in terms of this underlying principle of the QCA Code, with effective and efficient decision-making. Corporate governance is an important part of that job, reducing risk and adding value to our business.

 The Company addresses the key governance principles defined in the QCA Code as outlined in the table below. We will continue to provide updates on our compliance with the code.

 

This disclosure was last reviewed and updated on 05 December 2023

DELIVER GROWTH

MAINTAIN A DYNAMIC MANAGEMENT FRAMEWORK

BUILD TRUST

05 December 2023

Board Committees

The Company generally has Audit & Risk, Nomination and Remuneration Committees.

Under Israel company law, the audit and risk committee needs to be comprised of external directors (as defined under the companies law). At the current time, the company does not have any external directors, as they stepped down from the board following the conclusion of their second term in office. The company decided not to replace the external directors whilst the TSP process was ongoing, however it will be seeking to appoint new ones as soon as practical following exiting the TSP. In the meantime, the company does not have an audit or remuneration committee in place.

Audit & Risk Committee

The Audit & Risk Committee is chaired has the primary responsibility for monitoring the quality of internal controls, ensuring that the financial performance of the Company is properly measured and reported on, reviewing reports from the Company’s auditors relating to the Company’s accounting and internal controls, and in all cases having due regard to the interests of Shareholders. The Audit & Risk Committee meets at least twice a year. Richard Bennett the Independent Non-Executive Director, who was appointed on 16 May 2022 is a member of the Audit & Risk Committee.

Nomination Committee

The Nomination Committee is chaired by Yosi Albagli, and identifies and nominates, for the approval of the Board, candidates to fill Board vacancies as and when they arise. The Nomination Committee meets as required. Richard Bennett, the Independent Non-Executive Director, was appointed as a member of the Nomination Committee on 16 May 2022 and along with David Levi, they are the other members of the Nomination Committee.

Remuneration Committee

The Remuneration Committee reviews the performance of the executive directors and determines their terms and conditions of service, including their remuneration and the granting of options to the Executive, having due regard to the interests of Shareholders. The Remuneration Committee meets at least once a year. On 16 May 2022, Richard Bennett, the Independent Non-Executive Director was appointed to the Committee.

Directors’ Responsibilities

Company law requires the Directors to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the Company and the Group and of the profit or loss for each period. In preparing those financial statements, the Directors are required to:

  • Select suitable accounting policies and then apply them consistently;
  • Make judgements and estimates that are reasonable and prudent;
  • State whether applicable accounting standards have been followed with any material departures disclosed and explained in the financial statements; and
  • Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company and the Group will continue in business.

The Directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Company and to ensure that the financial statements comply with the Companies Act 2006. They have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the Group and to prevent and detect fraud and other irregularities.

AGM and EGM Voting Summaries:

EGM – 14 December 2023

AGM – 14 August 2023

Policies approved at the Annual General Meeting of 13 August 2019:

Compensation Policy Amended on 08 August 2019

Directors and Officers Indemnities

Our live share price can be found here: ENET.L at the London Stock Exchange

RNS News

Market Updates and Financial Reports

The following information and links are provided for the purposes of AIM Rule 26.

LAST UPDATED: 13 March 2024

Company | Our Company Overview page provides our business description.


Directors | Information about our directors can be found on our Executive Leadership page


Corporate Governance | Please see the Corporate Governance section for details.


Country of Incorporation | Country of incorporation: Israel. \ Company registration number: 51-347834-7. \ Main country of operation: Israel. \ The rights of shareholders may be different from the rights of shareholders in a UK incorporated company.


Number of Shares in Issue and Major Shareholders | Please see the Shareholder Analysis section for more information.


Articles of Association | All relevant documents can be found in the Regulatory Documents section.


Other Exchanges | The Company’s shares are also traded on the Pink Open Market in the USA, operated by OTC Markets.


Details of Any Restrictions on the Transfer of AIM Securities | There are no restrictions on the transfer of Company’s shares. Please see the Shareholder Analysis section for more information.


Annual and Interim Financial Reports | All relevant documents can be found in our Market Updates and Financial Reports section.


Notifications & Announcements | Regulatory news and other announcements can be found in our Regulatory News section and our Market Updates and Financial Reports section.


Admission Document and Circulars | All relevant documents can be found in the Regulatory Documents section.


Advisers | The Advisers and Registrar section contains information on all relevant parties.


Takeover Code | As the Company is incorporated in Israel, it is subject to Israeli law and the UK City Code on Takeovers and Mergers does not apply.

Our live share price can be found here: ENET.L at the London Stock Exchange

Articles of Association – Amended 14 December 2023 >

Admission Document >

Compensation Policy – Approved 14 August 2023 >

Circulars

Notice of Extraordinary General Meeting 9 April 2024 >
Form of Proxy for EGM 9 April 2024 >
Form of Direction for EGM 9 April 2024 >

Notice of Extraordinary General Meeting 7 December 2023 >
Form of Proxy for EGM 7 December 2023 >
Form of Direction for EGM 7 December 2023 >

Notice of Annual General Meeting 14 August 2023 >
Form of Proxy for AGM 14 August 2023 >
Form of Direction for AGM 14 August 2023 >
Notice of Extraordinary General Meeting 9 February 2023 >
Form of Proxy for EGM 9 February 2023 >
Form of Direction for EGM 9 February 2023 >
Notice of Annual General Meeting 16 May 2022 >
Form of Proxy for AGM 16 May 2022 >
Form of Direction for AGM 16 May 2022 >
Notice of Annual General Meeting for 29 July 2021 >
Notice of Extraordinary General Meeting 6 December 2021 >
Form of Proxy for EGM 6 December 2021 >
Form of Direction for EGM 6 December 2021 >
Notice of Annual General Meeting for 29 July 2021 >
Form of Proxy for AGM 29 July 2021 >
Form of Direction for AGM 29 July 2021 >
Notice of Extraordinary General Meeting 15 April 2021 >
Form of Proxy for EGM 15 April 2021 >
Form of Direction for EGM 15 April 2021 >
Notice of Extraordinary General Meeting 29 December 2020 >
Form of Proxy for EGM 29 December 2020 >
Form of Direction for EGM 29 December 2020 >
Notice of Annual General Meeting 03 August 2020 >
Form of Proxy for AGM 03 August 2020 >
Form of Direction for AGM 03 August 2020 >
Notice of Extraordinary General Meeting 22 June 2020 >
Form of Proxy for EGM 22 June 2020 >
Form of Direction for EGM 22 June 2020 >
Notice of Annual General Meeting 13 August 2019 >
Notice of Annual General Meeting 23 July 2018 >
Extraordinary General Meeting Circular 6 October 2017 >

Our live share price can be found here: ENET.L at the London Stock Exchange

Nominated Adviser and Joint Broker
Allenby Capital Limited
5 St. Helens Place
London EC3A 6AB

Joint Broker
Peterhouse Capital Limited
80 Cheapside
London EC2V 6DZ

Auditors
Fahn Kahne & Co. Grant Thornton Israel
32 Hamasger Street
Tel Aviv 6721118
Israel

UK Solicitors
Edwin Coe LLP
2 Stone Buildings
Lincoln’s Inn
London WC2A 3TH

Howard Kennedy LLP
No.1 London Bridge
London SE1 9BG

Registrar
Link Asset Services
34 Beckenham Road
Beckenham, Kent BR3 4ZF

Our live share price can be found here: ENET.L at the London Stock Exchange

For assistance with investor relations enquiries, please contact:

Ethernity Investor Relations
IR@ethernitynet.com