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| October 18, 2021 |
Market Status: Closed
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Market News


Credit contract extension - Dendrio Solutions

Release Date: 7/23/2021 6:00:18 PM

IRIS Code: A2B07


Current Report nr. 41 / 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

BNET23, BNET23A, BNET23C – bonds

Subscribed and paid share capital

48,043,690.40 RON

Total number of shares

395,565,240 shares face value RON 0.10 per share[1]



Credit contract extension – Dendrio Solutions


BITTNET SYSTEMS S.A. (hereinafter referred to as the “Company” / “Issuer”) informs investors about the signing of the additional agreement for credit line extension - revolving overdraft - contracted by Dendrio Solutions from ProCredit Bank in July 2019.

The extension was made for a period of 24 months and under the same conditions as the initial credit agreement:

        total value: RON 4,500,000;

        destination: financing the working capital and the current activity;

        maturity: 24 months with the possibility of extension;

        interest rate: ROBOR3M + 2.4% per year;

Guarantee structure:

        collateral cash deposit: 10% of the credit value;

        parental guarantee from Bittnet Systems SA;

        guarantee based on the “SME Initiative” program, financed by the European Union through ERDF and by the European Investment Fund and the European Investment Bank;

        mortgage on Dendrio Solutions SRL bank accounts at ProCredit Bank.

Bittnet Systems owns 100% of Dendrio Solutions shares.




President of the Board

Mihai Alexandru Constantin Logofatu



[1] At the publication date of this current report, the Company has in process of registration with FSA and Central Depository two capital increase operations registered at the Trade Register - from August 2020 (according to BoardDecision no. 7/18.08.2020) and December 2020 (according to Board Decision no. 10/17.12.2020). At Trade Register, the Company has a share capital composed of 480,436,904 shares after processing the capital increase operations according to EGMS Decisions no. 2 and 3 from 27 April 2021.



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