Ethernity Networks Ltd - Israeli supplier of data processing semiconductor technology for networking appliances - Says the remaining balance of around $400,000 on its creditor settlement plan will be distributed to the settlement manager’s bank account during the first quarter of 2025. This marks the end of Ethernity’s liability under the plan, which the group says will improve its access to external credit financing resources to support its operations.
The settlement plan was approved by a court in February 2024, following a temporary suspension of proceedings. Ethernity had agreed to repay all three creditor groups in four instalments over a twelve-month period, on a total creditor balance of $1.6 million, within 90 days of exiting the settlement.
Current stock price: 0.11 pence, down 2.0% in London on Tuesday afternoon
12-month change: down 91%
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