BITTNET SYSTEMS S.A. (referred to as the “Company” / the “Group” or the “Issuer”) informs investors about the Decision of the Board of Directors from 06.08.2024 regarding the start of a buy back program of own shares, starting from 07.08.2024, in accordance with EGMS resolution no. 04/25.04.2024.
The duration of the program will be 18 months from the date of registration of the EGMS resolution in the records of Romanian Trade Register, a period that began in 05.08.2024.
The maximum number of shares that could be repurchase is 10,000,000 ordinary, common, dematerialized shares, with an individual face value of 0.1 ron, within the limit of a maximum budget allocated for this operation of RON 2,000,000.
The intermediary through which this market operation will take place is BRK FINANCIAL GROUP S.A and the maximum daily volume redeemed will be within the limit of 25% of the average daily volume of shares that are traded on the Market, according to art. 3 paragraph (3) lit. b) from EU Delegated Regulation 2016/1052.
The price at which the repurchase program will be made is in the range established by EGMS resolution no. 04 /25.04.2024: the minimum price 0.1 RON/share (the face value), and the maximum price 0.25 RON/share.
According to EGMS resolution no. 04/25.04.2024 the repurchase program will be carried out for the following possible destinations: for the implementation of stock option programs, as well as for any other destination permitted by law, including the cancellation of the acquired shares. The implementation of this program will be carried out from own sources.