|
Current Report nr. 10 / 2022
|
|
Current report according to
|
Law 24/2017, FSA Reg 5/2018
|
|
Date of report
|
21.03.2022
|
|
Name of the issuing entity
|
BITTNET SYSTEMS S.A.
|
|
Legal Adress
|
Strada Soimus Nr. 23, Bloc 2, Apartament 24, Sector 4, Bucuresti
|
|
Adress
|
Strada Tudor Arghezi 8-10, Bucuresti 020945
|
|
Telefon/Fax
|
021.527.16.00 / 021.527.16.98
|
|
Fiscal Code
|
21181848
|
|
Number with the Trade Registration
|
J40/3752/2007
|
|
The market where the securities issued are traded:
|
Segment: BSE Main Market; Category: Standard
|
|
Ticker
|
BNET - shares
BNET23, BNET23A, BNET23C – bonds
|
|
Subscribed and paid share capital
|
48,043,690.40 RON
|
|
Total number of shares
|
480.436.904 shares face value RON 0.10 per share
|
Signing the investment agreement with TopTech
BITTNET SYSTEMS S.A. (hereinafter referred to as “Company” / “Issuer”) informs investors about signing the sales and purchase agreement for full takeover of TOPTECH SRL, IT&C integrator with relevant business in Transylvania area. TopTech's operations will be integrated into Dendrio Solutions SRL, part of the Bittnet Group's Technology Division.
The transaction price is RON 12 million and will be partially paid in cash (RON 7 million), and the rest to be settled in BNET shares. The actual number of shares to be issued will be determined in accordance with the provisions of art. 210 (2) of Law 31/1990 and art. 87-88 of Law 24/2017 on issuers of financial instruments and market operations and art. 174 of the FSA Regulation no. 5/2018.
TopTech is a Romanian IT&C company founded in 1992 in Deva. Today, TopTech uses technologies with leading technology manufacturers, such as Dell and HP. The company has over 80 employees, being one of the most important IT&C integrators in the central and western part of Romania. TopTech has offices in Deva, Sibiu, Timisoara, Cluj-Napoca, Alba-Iulia and Medias. Following this transaction, Dendrio expands its geographical coverage nationwide, at present the company is mainly present in Bucharest and southern Romania.
In 2021, TopTech achieved a turnover of RON 55 million, estimate EBITDA RON 2.4 million, and a net profit of RON 1.6 million. Bittnet Systems shareholders approved the acquisition of TopTech at EGMS in September 2021. The transaction will be subject of approval from the Competition Council.
President of the Board
Mihai Alexandru Constantin Logofatu