Investors - Ethernity Networks

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 five 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.

Ethernity CFO Mark Reichenberg discusses the 2021 Interim Results and the Company’s evolving strategy

Ethernity CEO David Levi speaks about how the Company is well-positioned in the evolving OpenRAN market

Ethernity’s Brian Klaff speaks with VSA Capital

Ethernity CEO David Levi speaks about the Company’s 2018 results

Ethernity CEO David Levi speaks at Mobile World Congress 2019

Ethernity’s flagship product – FPGA SmartNIC explained in a simple video

Shareholder Analysis

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

Financial Summary

(as of 26 Aug 2021)

There are no shares held in Treasury

There are no restrictions on the transfer of AIM securities

Key Shareholders

Significant shareholders as of 26 Aug 2021

Corporate Governance

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 10 March 2021

DELIVER GROWTH

MAINTAIN A DYNAMIC MANAGEMENT FRAMEWORK

BUILD TRUST

10 March 2021

Board Committees

The Company has Audit, Nomination and Remuneration Committees.

Audit Committee

The Audit Committee is chaired by Zohar Yinon and 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 Committee meets at least twice a year. Chen Saft-Feiglin and Neil Rafferty are the other members of the Audit 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. Neil Rafferty and David Levi are the other members of the Nomination Committee.

Remuneration Committee

The Remuneration Committee is chaired by Chen Saft-Feiglin and 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. Zohar Yinon and Neil Rafferty are the other members of the Remuneration 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.

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

Compensation Policy Amended on 08 August 2019

Directors and Officers Indemnities

Regulatory News

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

RNS News

17.09.21 | Ethernity Networks UEP-20 successful field trials

19.08.21 | Interim Results for the Six Months Ended 30 June 2021 and Update

02.08.21 | Results of AGM

30.07.21 | New contract for $930,000 to supply UEP-60 product

24.06.21 | Results for the Year Ended 31 December 2020 and Notice of Annual General Meeting

27.05.21 | Ethernity Receives $2m Orders from Tarana

26.05.21 | Allotment of Shares

24.05.21 | Ethernity Networks 5G DU Solution Shortlisted for GLOMO Award

12.05.21 | Exercise and Closure of 30p Warrants

05.05.21 | Notice to Exercise Outstanding 30p Warrants

04.05.21 | Company Update – $5.4m Inflows since December 2020 – and Directors’ Dealings

29.04.21 | Fifth Investment Under Share Subscription Agreement and Allotment of Shares

28.04.21 | Warrant Exercise

26.04.21 | Additional Payment Under Share Subscription Agreement

22.04.21 | Warrant Exercise

20.04.21 | Fourth Investment Under Share Subscription Agreement and Allotment of Shares

19.04.21 | Warrant Exercise

15.04.21 | Result of EGM

06.04.21 | Ethernity Networks Powers Packet Processing in Tarana’s Breakthrough Fixed Wireless Product

30.03.21 | Holding(s) in Company

30.03.21 | Ethernity Networks Granted New Patent

16.03.21 | Holding(s) in Company

10.03.21 | Appointment of Non-Executive Chairman of the Board and Notice of EGM

04.03.21 | Accelerated Third Investment Under Share Subscription Agreement

23.02.21 | Warrant Exercise

18.02.21 | Update on Chairman

16.02.21 | Warrant Exercise

09.02.21 | Ethernity Networks Delivers ACE-NIC100 to Major Server Vendors

26.01.21 | Warrant Exercise

12.01.21 | Warrant Exercise

11.01.21 | Employee Exercise of Options

08.01.21 | Warrant Exercise

04.01.21 | Holding(s) in Company

31.12.20 | Second Investment under Share Subscription Agreement and Further Allotment of Shares

29.12.20 | Update on Chairman and Result of EGM

23.12.20 | Exercise and Closure of 20p Warrants

18.12.20 | Issue of Equity

16.12.20 | Notice to Exercise Outstanding 20p Warrants / Exercise of Warrants and Adviser Warrants

14.12.20 | Exercise of Warrants by Director and other Holders

11.12.20 | Warrant Exercise

10.12.20 | Exercise of 20p Warrants by David Levi, CEO

07.12.20 | Warrant Exercise

02.12.20 | Holding(s) in Company

02.12.20 | Ethernity Update – on target for 2020 and positioned for growth in 2021

19.11.20 | Notice of Extraordinary General Meeting

18.11.20 | Board Changes

10.11.20 | Order from New Tier-1 North American Aerospace Contractor Customer

03.11.20 | Holding(s) in Company

24.09.20 | Share Subscription Agreement

22.09.20 | Breakthrough Contract with Indian Telecom OEM

14.09.20 | Result of Annual General Meeting 14 September 2020

10.09.20 | Interim Results for the Six Months Ended 30 June 2020

14.08.20 | Exercise of Options

11.08.20 | Issue of Equity

05.08.20 | Ethernity Signs New Contract with Existing OEM Customer

03.08.20 | Notice of Annual General Meeting

23.07.20 | Holding(s) in Company

17.07.20 | Holding(s) in Company

14.07.20 | Broker Option – Fully Subscribed

13.07.20 | Placing and Subscription to raise £780,000

26.06.20 | Results for the Year Ended 31 December 2019

22.06.20 | Results of EGM

22.06.20 | Ethernity Networks Signs Distribution Contract with Techtronics

17.06.20 | Update on IA Grant

11.06.20 | Appointment of Joint Broker

15.05.20 | Notice of EGM

07.05.20 | Director’s Dealing

06.05.20 | Market Update and Proposed Extraordinary General Meeting

30.04.20 | Design Contract with North American Tier-1 OEM

20.04.20 | Ethernity Networks Recognized as a Vendor to Watch in Gartner Market Trends: Function Accelerator Cards Disrupting Traditional Ethernet Adapter Market Report

08.04.20 | COVID-19 Business Update

02.04.20 | Ethernity Networks Sees Further Progress for its 5G UPF Offering in China With Additional Engagements

17.03.20 | Ethernity Networks Launches New ENET-D Ethernet Controller FPGA Engine

24.02.20 | Trading and Market Update

18.02.20 | Holding(s) in Company

18.02.20 | Appointment of Financial PR & IR Firm PRO

13.02.20 | Ethernity Networks and TietoEVRY to Boost 5G Performance with UPF/VPP Acceleration

23.01.20 | Exercise of Options

06.09.19 | Interim results for the six months ended 30 June 2019

13.08.19 | Result of Annual General Meeting 13 August 2019

08.08.19 | Correction to Resolution Number 2 for the Annual General Meeting to be held on 13 August 2019

17.06.19 | FiberHome Selects Ethernity Network’s ACE-NIC100 to Power New FitBNG

13.06.19 | Posting of Annual Report and Accounts; Notice of Annual General Meeting

12.06.19 | Notice of Annual General Meeting

12.06.19 | Annual Report for the Year Ended 31 December 2018

27.03.19 | Holding(s) in Company

16.01.19 | Ethernity Successfully Completes Delivery of Its ACE-NIC100 for Major Korean OEM

27.11.18 | Holding(s) in Company

21.11.18 | Contract with Tier 1 North American Military and Defence OEM

12.11.18 | Ethernity to Present at the Proactive Investors One2One Investor Forum

30.10.18 | Exercise of Options

24.10.18 | Contract with North American Tier 1 OEM

02.10.18 | Exercise of Options 08.10.18

16.09.18 | Exercise of Options 20.09.18

07.09.18 | Interim results for the six months ended 30 June 2018

24.07.18 | Result of Annual General Meeting 23 July 2018

29.06.18 | Posting of Annual Report and Accounts; Notice of Annual General Meeting

19.06.18 | Preliminary Results for the Year Ended 31 December 2017

08.02.18 | Ethernity Networks Appoints Rob O’Hara as VP Worldwide Sales

04.01.18 | Trading Update

20.12.17 | Ethernity’s Carrier Ethernet Technology Selected by Australian Equipment Manufacturer

15.11.17 | Result of EGM 15 November 2017

13.11.17 | Ethernity Networks Joins the Intel® Network Builders Program

10.10.17 | Ethernity Presenting at SDN World Congress

06.10.17 | Notice of EGM 6 October 2017

15.09.17 | Ethernity Completed Successful Proof-of-Concept of ACE-NIC integration in Customer Environments

15.09.17 | Interim results for the six months ended 30 June 2017

05.07.17 | Holding(s) in Company

03.07.17 | Holding(s) in Company

03.07.17 | TR-1: Notification of major interest in shares

30.06.17 | Holding(s) in Company

29.06.17 | Admission to AIM and First Day of Dealings

Market Updates & Financial Reports

Market Updates and Financial Reports

Featured Media

19.08.21 | Ethernity Networks revenues rocket as it shifts to being a system solutions provider
(Proactive Investors)

18.06.19 | Ethernity Networks soars on Chinese deal
(Globes)

03.06.19 | Ethernity Networks expects to soon close on two “transformational” deals
(Proactive Investors)

19.02.19 | Ethernity Networks offers programmable, secure ENET VPN Gateway
(Lightwave)

01.02.19 | Ethernity ENET vRouter Aimed at a Programmable Network Bottleneck
(SDxCentral)

29.01.19 | Ethernity Networks introduces ENET vRouter network appliance
(Telecompaper)

14.03.18 | Ethernity Networks Providing Solutions to Network Edge Challenges
(Light Reading)

15.09.17 | 2 ‘under the radar’ Growth Stocks that Could Make You Brilliantly Rich
(The Motley Fool)

10.07.17 | Ethernity Networks up 36% in Two Weeks Since IPO
(Globes)

25.05.17 | Ethernity Network Delivers Instant Offloading of Network Functions with NIC
(Light Reading)

29.06.17 | Ethernity Networks’ London Stock Exchange Placing Puts $58M Value On Tech “Game Changer”
(Forbes)

29.06.17 | Ethernity Raises £15M From London IPO
(Light Reading)

30.06.17 | Ethernity Networks Raises $19.2m in AIM IPO
(Globes)

AIM rule 26

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

LAST UPDATED: 17 September 2021

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 not traded on any other stock exchange. Please see the Shareholder Analysis section for more information.

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.