Extension of warrant instruments
Warrant expiry date extended by 24 months to February 2027 for 19.9m warrants from January 2023 fundraise.
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Ethernity Networks Limited (AIM: ENET.L) (OTCQB: ENETF), a leading supplier of data processing semiconductor technology for networking appliances, announces the extension of the expiration date of 19,874,088 warrants (the "Warrants") that were granted in connection with the fundraise undertaken by the Company in January 2023 (the "January 2023 Fundraise").
The Company has today extended the expiry date of the Warrants by twenty four months to 8 February 2027.
The Board considers that it is appropriate to extend the expiry date of the Warrants to provide the Warrant holders with the opportunity to exercise their warrants into shares at a later stage.
All of the other terms of the Warrants remain unchanged as announced on 17 January 2023 and 25 May 2023 (when the exercise price was varied to 6p).
Director holdings of Warrants
David Levi and Shavit Baruch hold 3,028,571 and 668,771 warrants respectively, by virtue of their participation in the January 2023 Fundraise. However, these 3,697,342 warrants have not been extended and therefore expire on 8 February 2025.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.