Update re. Creditor Settlement Plan
Remaining USD 400,000 from creditor settlement plan to be distributed in Q1 2025, ending company liability.
- Remaining balance under Creditor Settlement Plan USD 400,000
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Ethernity Networks Limited (AIM: ENET.L) (OTCMKTS: ENETF), a leading supplier of data processing semiconductor technology for networking appliances, is pleased to announce that, further to the Company's announcement of 5 February 2024 regarding the court approval of the creditor settlement plan (the "Creditor Settlement Plan"), the remaining balance under the Creditor Settlement Plan, of approximately USD 400,000, will be distributed to the settlement manager's bank account during the first quarter of 2025 (the "Distribution"). Upon completion of the Distribution, the Company will end its liability under the Creditor Settlement Plan, which will allow the Company to improve access to external credit financing resources to support its operations.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.