Ethernity Networks shares enjoy uplift on USD800,000 contract win
29th Nov 2023 10:38
(Alliance News) - Ethernity Networks Ltd on Wednesday touted a new contract win, after signing with a long-term networking data communications customer. Read More
(Alliance News) - Ethernity Networks Ltd on Wednesday touted a new contract win, after signing with a long-term networking data communications customer. Read More
Ethernity Networks Ltd - Israel-based supplier of data processing semiconductor technology for networking appliances - Announces plans to issue 150.0 million new shares to 5G Innovation Leaders Fund LLC, as part of a subscription deal agreed in February 2022. Company has already issued 44.9 million shares, and intends to issue another 43.6 million once it receives notice from 5G Innovation. Company also will seek shareholder approval, at a general meeting scheduled for December 14, to issue a further 61.5 million shares at some point in the future. Ethernity "strongly recommends" that shareholders vote to approve these resolutions, as without approval, it will owe 5G an outstanding debt of USD600,000. This would "seriously adversely impact the company's ability" to exit the temporary suspension of proceedings for which it applied in mid-October, and which was recently extended until December 31. Read More
(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday. Read More
(Alliance News) - Stocks prices soared in London on Thursday as investors bet interest rates have peaked despite the best efforts of central bank officials to curb expectations. Read More
(Alliance News) - Stocks in Europe went into the afternoon on the up, while the pound also rose, as the Bank of England cautioned that monetary policy will need to be "sufficiently restrictive for sufficiently long". Read More
Ethernity Networks Ltd - Israel-based supplier of data processing semiconductor technology for networking appliances - Signs an extended license contract for USD475,000 with a unnamed "tier one US-based military aerospace customer". The firm had received an advance payment of USD80,000 last month, and expects payments for the contract to be received during November and December, bringing the total anticipated revenue to USD555,000. Expects the contract to be fulfilled in the fourth quarter of 2023 and eyes revenue from customer in 2024 through support of the utilisation of the license on multiple platforms and systems. "The company is pleased to continue its relationship with this customer and, whilst there can be no guarantees, the board believes that this extended license contract could open the door for the company to penetrate into other platforms through collaboration with the customer leading to future support and design service revenue," it says. Read More
(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Thursday. Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News: Read More
(Alliance News) - Stock prices in London closed mixed on Wednesday, as concerns over monetary policy and developments in the Middle East lingered. Read More
(Alliance News) - Stock prices in London were lower at midday Wednesday, as some strong US earnings overnight as well as a fresh stimulus plans in China were unable to lift the mood. Read More
(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday. Read More
(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Monday and Tuesday and not separately reported by Alliance News: Read More
(Alliance News) - Stock prices in London closed lower on Friday, after a difficult week for markets, as investors contend with the heightening war in the Middle East as well as the prospect of higher interest rates. Read More
(Alliance News) - Stock prices in London closed lower on Friday, after a difficult week for markets, as investors contend with the heightening war in the Middle East as well as the prospect of higher interest rates. Read More
(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday. Read More
Ethernity Networks Ltd - Airport City, Israel-based supplier of data processing semiconductor technology for networking appliances - Receives settlement notice for USD90,000 from 5G Innovation Leaders Fund LLC pursuant to share subscription agreement announced in late February. Says 5G Innovation is entitled to issue settlement notices under the agreement despite notifying Ethernity of an event of default and despite Ethernity's ongoing temporary suspension of proceedings. A court in the Israeli city of Lod granted the suspension order on Monday last week, and a settlement manager was appointed to review Ethernity's short-term budget. Read More
(Alliance News) - Ethernity Networks Ltd shares fell on Monday, after the suspension on its shares was lifted after just two business days. Read More
Ethernity Networks Ltd - Airport City, Israel-based supplier of data processing semiconductor technology for networking appliances - Announces application to court in Tel Aviv for a temporary suspension of proceedings order and to convene a meeting of creditors. Also announces temporary suspension of shares from trading on AIM, effective Thursday. Says it has faced significant challenges in recent months, including "a significant and unexpected increase in cost and lead-times" of essential components, following a global shortage caused by Covid-19. Several customers also have experienced pandemic-related financial difficulties, making it harder for Ethernity to collect outstanding debts. Ethernity also believes two long-term customers have been violating usage of a licence "for several years" and says it "will be taking steps to claim against this infringement". Says its current cash balance is approximately USD107,000. Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News: Read More
Ethernity Networks Ltd - Airport City, Israel-based supplier of data processing semiconductor technology for networking appliances - Says current outstanding balance under the share subscription agreement with investor 5G Innovation Leaders Fund is USD1.4 million. Extends the date by which 5G Innovation can request Ethernity shares to be issued until March 3 next year. All other terms remain unchanged and as announced in late February. Read More