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| May 25, 2022 |
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Status of the capital increase operation

Release Date: 2/11/2021 6:00:02 PM

IRIS Code: 45649


Current Report nr. 06 / 2021


Current report according to

Law 24/2017, FSA Reg 5/2018

Date of report


Name of the issuing entity


Legal Adress

Strada Soimus Nr. 23, Bloc 2, Apartament 24, Sector 4, Bucuresti


Blvd. Timisoara nr 26 Cladirea Plaza Romania Offices Spatiul PRO-01 Etaj 1 Sector 6, Bucuresti


021.527.16.00 / 021.527.16.98

Fiscal Code


Number with the Trade Registration


The market where the securities issued are traded:

Segment: BSE Main Market; Category: Standard


BNET - shares

BNET22, BNET23, BNET23A, BNET23C – bonds

Subscribed and paid share capital

25.374.694,80 RON

Total number of shares

229.049.725 shares face value RON 0.10 per share[1]



Status about capital increase


BITTNET SYSTEMS S.A. (hereinafter referred to as "the Issuer") informs the investors about the status of the subscriptions within the capital increase with new cash contributions. Thus, until the end of February 11, 2021, were subscribed 10.403.844 new shares for a value of RON 6.138.267,96 (57,23% of the total Offer)

The subscriptions during the offer period (stage 1 of the capital increase operation) will take place until 25.02.2021 at 1:00 PM. At this stage, only investors that hold BNETR08 preference rights can buy new shares, directly from the Issuer, (7 BNETR08 for the acquisition of a new BNET share at the price of RON 0.59 / share). BNETR08 preference rights will expire after the Offer period.

The remaining shares unsubscribed after stage 1 will be offered for sale in a private placement at a higher price than the price in stage 1. The company will publish the status of subscriptions at the end of Stage 1 - 25.02.2021 (after 06:00 PM).

After the private placement, a number of BNETR09 rights (DAs) equal to the number of shares subscribed will be allocated in the investors' accounts. The allocation rights will be subject of an application for admission to trading and will remain listed until the registration of the new share capital increased at Trade Register, FSA and the Central Depository. The conversion of the BNETR09 allocation rights into BNET shares will be done 1 to 1 with the holding of allocation rights from the portfolio.

The amounts raised during the capital increase will be used mainly to strengthen the financial position of the Issuer's group and expand the company's activity, as well as to finance future M&A projects or for partially repayment of the bond issues. The effective way of allocating the amounts attracted by this fund raising operation will be determined by the company's management. The maximum value of the offer is RON 10,725,344.50, if all the shares are subscribed in stage 1.



President of the Board

Mihai Alexandru Constantin Logofatu


[1] The share capital registered at the Trade Register is 253,746,948 shares. At the time of this report, the Issuer has submitted to ASF the request to issue the CIVM for the entire capital.



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