Bittnet allotment rights will start trading on BVB on April 21st

Bucharest Stock Exchange (BVB) announces that on April 21 will start trading on Multilateral Trading System (MTS) the allotment rights issued by Bittnet Systems.

The allotment rights were issued as part of a share capital increase by issuing a number of 11,046,641 ordinary shares, offered for subscription at a price of RON 0.83/ share, in accordance with the decision of the General Shareholders’ Meeting of April 24, 2019. Each subscribing investor in one or both stages of the capital increase was assigned a number of BNETR07 allotment rights equal to the number of newly subscribed shares. The allotment rate is 1 newly subscribed share for 1 allotment right.

The allotment rights will be tradable within the relevant market managed by the Bucharest Stock Exchange, according to the specific regulations of this market, and until the end of the registration process of the new registered capital at the National Trade Register Office (ONRC) and the Financial Supervisory Authority (ASF).

Bittnet Systems will use the financing attracted through the share capital increase to support the intensive and qualitative growth, by providing a robust capital base and to ensure the implementation of the company and the Group development plans.

Bittnet Systems is the first IT company listed on the Bucharest Stock Exchange, on the AeRO market. The issuer recently celebrated 5 years since listing, a period in which it has carried out several financing rounds on the capital market with a cumulative value of about 13 million USD.