Prospectus public offer for sale corporate bonds BNET27A

Current Report no. 31 / 2023

Approval by the FSA of the Prospectus regarding an initial public offering for corporate bonds, symbol BNET27A

BITTNET SYSTEMS S.A. (referred to as the "Company" / "Issuer" / “Group”) informs investors and the capital market about the approval by the Financial Supervisory Authority of the Prospectus (consisting of separate documents) for a public offer of corporate bonds according to the Decision of the Board of Directors from 03.05.2023.

The issue targets a number of 50,000 corporate, unsecured, bonds, issued in RON, with a face value of 100 RON each and a total face value of RON 5,000,000. The interest rate will be 10% per year, payable quarterly through the Central Depository system, and the maturity will be after 4 years from the date of issue, respectively,  June 2027. Subscriptions will be possible for a period of 15 trading days.

Investors will be able to submit the buy-orders depending on the method agreed with the broker where they have an active trading account (directly on the platform, by phone or by filling a subscription form), in the price range of RON 96 – RON 104 per bond (respectively between 96% and 104% of the face value), similar to the "price discovery" mechanism for the initial public offering operations.

After submitting the order, investors will be able to change the subscription price within the price range of RON 96 lei – RON 104 per bond, including the minimum and maximum limits of the range, at any time during the subscription period. In this sense, the resulting value of the modified subscription must be higher or equal to the previous valid value. The modification of the order will be considered valid, taking into account the modified subscription related to the subscription price from the end of the offer period.

At the end the public offer (after 15 trading days) , on June 21^st , the Issuer will establish (fix) the offer price (the issue price), according to the interval mentioned above. Subscription orders placed at a higher price than the offer price or at the offer price will be accepted, while orders below this price will be invalidated. All accepted orders will be validated at the same price (offer price/issue price) so that all investors will buy BNET27A bonds from the Issuer at the same price.

After the offer period, the BNET27A bond Issue will be subject of a request for admission to trading on the Regulated Market administered by the Bucharest Stock Exchange, which has already sent the Issuer the preliminary agreement for listing the bonds.

BNET27A Public offer:

·         Publication of the Prospectus: May 26^th

·         Offer period (subscription period): May 30 – June 21

·         Transaction date: June 23^rd

·         BNET27A bonds Issue Date: June 26^th  

We attach to this current report the FSA Decision approving the Prospectus and the Prospectus consisting of separate documents (Securities Note, Universal Registration Document and Summary). The broker who intermediate this operation is SSIF BRK Financial Group SA.

President of the Board

Mihai Alexandru Constantin Logofatu