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 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
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:
Our live share price can be found here: ENET.L at the London Stock Exchange
RNS News
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
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
08.04.20 | COVID-19 Business Update
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 and Financial Reports
Featured Media
18.06.19 | Ethernity Networks soars on Chinese deal
(Globes)
3.06.19 | 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)
The following information and links are provided for the purposes of AIM Rule 26.
LAST UPDATED: 12 May 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.
Our live share price can be found here: ENET.L at the London Stock Exchange
Circulars
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
Arden Partners plc
125 Old Broad Street
London EC2N 1AR
Joint Broker and IR
VSA Capital Limited
New Liverpool House
15-17 Eldon Street
London EC2M 7LD
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:
Mark Reichenberg, Chief Financial Officer, Ethernity Networks
MarkR@Ethernitynet.com