Current reports

Signing of a significant contract

Bittnet Systems S.A. (hereinafter referred to as “the Company”) informs the shareholders about signing of a significant contract as follows:

  •          Client: electronic household manufacturing producer
  •          Client investment objective: development of new production capacity in Dambovita county (greenfield investment)
  •          Contract objective: delivery of IT equipment, technological solutions and wi-fi installation services
  •          Contract value: USD 450,000
  •          Delivery time: 1st semester 2018
  •          Payment deadline: 30 days after delivery.

CR08 current report

Announcement about 7th coupon payment – BNET19

BITTNET SYSTEMS S.A. (hereinafter referred to as “the Company”) announces that the 7th coupon payment for the Company’s bond issue – dated 15th July 2016, symbol BNET19 – will be made on April 16th 2018.  The payment will be made through the Central Depository and Banca Transilvania – as The Paying Agent – to the bond holders registered in the Bond Holders Registry at the reference Date: 12th April 2018 (Ex-date: 11th April 2018). The interest will be paid via bank transfer directly to the accounts of all participants in the RoClear System, to the bondholders’ bank accounts which were confirmed by the bondholders in the Subscription Form, or to the bank accounts which were notified to the Payment Agent by the bondholders. The interest rate is 9% per year and the interest amount is a gross of RON 22.50 / bond. The Company’s corporate bonds are tradeable on the Bonds-ATS Market, administered by the Bucharest Stock Exchange, starting with 27th September 2016 – under the BNET19 ticker.

Announcement about income taxation for bond coupons

BITTNET SYSTEMS S.A. (hereinafter referred to as “the Company”/ “the Issuer”) informs that the bondholders (trading ticker: BNET19 and BNET22) about the amendment of the Fiscal Code through OUG no. 79 of November 8th, 2017, regarding the determination, withholding and transfer to the State budget of the income tax (including tax income from coupons resulting from corporate bonds). Thus, starting with January 1st, 2018, the taxation is as follows:

• For resident individual investors: 10% at source;

• For non-resident individual investors who didn’t send the tax residence certificate of a state with which Romania has signed the double taxation convention/treaty: 16% at source;

• For non-resident individual investors who have send the fiscal residence certificate, the tax will be determined, withheld and transferred in accordance with the double taxation convention signed by Romania with the bondholder’s state of fiscal affiliation;

• For resident and non-resident legal entities: the obligation to declare and pay the income tax is at the bondholder. For each coupon payment, the Company files a request with the Central Depository and receives a registry of bondholders at the reference date. This registry does not contain information about the bondhoder’s fiscal residence. The Issuer approximates the fiscal residence for each bondholder using the information provided in the ‘country of domicile’ and ‘CNP’ fields.

As such, all natural persons that have a declared domicile in Romania and have a valid CNP code are assumed to be residents of Romania. All natural persons without valid CNP or with any other country than Romania mentioned in the ‘domicile’ address are assumed to be non- residents and subject to 16% withholding tax. According with above mentions resolutions, the Company aska non-resident bondholders to send us their tax residence certificates, issued by the competent authorities of the state of residence before March 14th, 2018. This certificate can be sent to the following e-mail address: investors@bittnetsystems.ro. Otherwise, the Company will apply the 16% withholding tax to the gross value for the quarterly coupon of the BNET19 and BNET22 bonds, according to art. 224 of Law 227/2015 regarding the New Fiscal Code, as amended by OUG 79/2017: https://static.anaf.ro/static/10/Anaf/legislatie/Cod_fiscal_norme_2018.htm#T4o

Raport curent english BNET19 si BNET22

Announcement about 2nd coupon payment – BNET22

BITTNET SYSTEMS S.A. (hereinafter referred to as “the Company”) announces that the 2nd coupon payment for the Company’s bond issue – dated 8th September 2017, symbol BNET22 – will be made on March 15th2018. The payment will be made through the Central Depository and Banca Transilvania – as The Paying Agent – to the bond holders registered in the Bond Holders Registry at the reference Date: 8th March 2018. The interest will be paid via bank transfer directly to the accounts of all participants in the RoClear System, to the bondholders’ bank accounts which were confirmed by the bondholders in the Subscription Form, or to the bank accounts which were notified to the Payment Agent by the bondholders. The interest rate is 9% per year and the interest amount is a gross of RON 2.2500 / bond. The Company’s corporate bonds are tradeable on the Bonds-ATS Market, administered by the Bucharest Stock Exchange, starting with 28th November 2017 – under the BNET22 ticker.

Curent english BNET22 – 2nd coupon payment

Continuous improvement of financing

Bittnet Systems S.A. (hereinafter referred to as “the Company”) informs the shareholders about following operations regarding banking loans:
• signing of a new revolving overdraft contract with ProCredit Bank in amount of RON 2,790,000 with a fixed interest rate of 3.75% per year;

• signing of a credit contract with monthly reimbursements from ProCredit Bank in amount of RON 697,000 with an interest rate of ROBOR6M+1.5% per year and a 3 years maturity.

The guarantees for the 2 financing lines are:
• 26% collateral cash deposit with a 0.3% fixed interest rate per year;

• personal guarantees from the founders Mihai Logofatu and Cristian Logofatu;

• guarantee under the “SME Initiative” program funded by the European Union through ERDF and “Horizon 2020” and by the European Investment Fund and European Investment Bank.

The loans will be used for financing current activity, working capital and the development plans of Bittnet Systems SA and Gecad NET SRL. The average cost of borrow capital is now fixed at under 6,4% per year. At the same time, the Company has extended the loan contract to Gecad NET from an initial amount of EUR 90,000 to a new celling of EUR 1 million. The new interest rate for this loan is 6.5% per year. The reason for this EUR currency loan contract between the two companies is that Gecad NET SRL makes more foreign currency payments to external vendors, whereas Bittnet Systems has more foreign currency receivables then payables. This means that Bittnet Systems obtains FCY reserves, while Gecad NET needs to negotiate and buy FCY to cover payments. With the loan agreement the two companies intend to decrease the FX exposure and minimize currency exchange costs.

CR04 raport curent english

Information closed trading period

Bittnet Systems S.A. (hereinafter referred to as the “Company”) informs the shareholders about the upcoming closed period. Between January 15th 2018 and February 16th 2018, the shareholders who have the status of insider within the meaning of CNVM Regulation no. 1/2006, Law 24/2017, and Regulation (EU) no. 522/2016 and Regulation (EU) No. 596/2014, shall not conduct any transactions on their own account or for the account of a third party, directly or indirectly, relating to the shares or debt instruments of the issuer or other financial instruments linked to them during a closed period of 30 days before the announcement of an interim financial report. The closed period is due to the fact that on February 16th 2018, the Company will publish the preliminary results for 2017.

BNET_20180112124444_CR02-raport-curent-english

Financial communication schedule

Bittnet Systems S.A. (hereinafter referred to as the “Company”) informs the shareholders about the publication of the financial calendar. The Company will publish periodical reports in 2018 in a following manner:

EventDeadline
Preliminary annual financial results 201716th February 2018
Annual General Shareholders Meeting (GSM)25th April 2018
Submission of Annual Report 201727th April 2018
Submission of Semi-Annual Report for the first half of 201831st August 2018

These dates have been chosen to be evening of the last working day of the week to allow the maximum possible time for information to be absorbed by the interested parties. The date for the Shareholders Meeting has been chosen to be during a work day, as to allow maximum participation for shareholders, in accordance with the Corporate Governance Principles of the Bucharest Stock Exchange.

CR01 raport curent english

Announcement about 6th coupon payment – BNET19

BITTNET SYSTEMS S.A. (hereinafter referred to as “the Company”) announces that the 6th coupon payment for the Company’s bond issue – dated 15th July 2016, symbol BNET19 – will be made on january 15th 2018. The payment will be made through the Central Depository and Banca Transilvania – as The Paying Agent – to the bond holders registered in the Bond Holders Registry at the reference Date: 11th January 2018 (Ex-date: 10th January 2018). The interest will be paid via bank transfer directly to the accounts of all participants in the RoClear System, to the bondholders’ bank accounts which were confirmed by the bondholders in the Subscription Form, or to the bank accounts which were notified to the Payment Agent by the bondholders. The interest rate is 9% per year and the interest amount is a gross of RON 22.50 / bond. The Company’s corporate bonds are tradeable on the Bonds-ATS Market, administered by the Bucharest Stock Exchange, starting with 27th September 2016 – under the BNET19 ticker.

CR01 raport curent english BNET19

 

Receiving the CIVM from Financial Supervisory Authority

Bittnet Systems S.A. (hereinafter referred to as the “Company”) informs the shareholders about receiving from the Financial Supervisiory Authority (ASF) of the Certificate of Registration of Securities no. AC-4149-5/20.12.2017, certifying the registration of the share capital increase with a number of 1,416,012 new shares issued as a result of the General Shareholder Meeting decisions from April 26th 2017. The Company continues the registration process with the Central Depository.
According to Decision of Sole Administrator nr. 5353 from 21st December 2017 has been set as the registration date, 03rd January 2018, and as payment date, (the date on which the newly issued shares will be available for trading) 04th January 2018.

171220_CIVM_ASF

171221_decizie administrator bnet

CR39 raport curent english