BITTNET SYSTEMS S.A., acting in its capacity as Issuer, in accordance with the provisions of Article 2 of EU Regulation 1052/2016 supplementing EU Regulation 596/2014 on market abuse, hereby informs investors of the completion, on 08 November 2025, of the share buyback program initiated on 07 August 2024.
The program provided that the maximum number of shares to be repurchased would be 10,000,000 ordinary, registered, common, dematerialized shares, each with a nominal value of 0.1 RON, within a maximum budget allocated for this operation of 2,000,000 RON. The price at which the repurchases were to be carried out was within the range established by EGM Resolution no. 04 of 25 April 2024: a minimum repurchase price of 0.1 RON per share (i.e., the nominal value) and a maximum repurchase price of 0.25 RON per share.
The intermediary through which this market operation was carried out was BRK FINANCIAL GROUP S.A., and the maximum daily volume repurchased was limited to 25% of the average daily volume of shares traded on the market, calculated in accordance with the applicable legislation, pursuant to Article 3(3)(b) of Delegated EU Regulation 2016/1052.
Accordingly, the share buyback program was carried out in compliance with the derogation conditions provided for in the market abuse legislation, which allow transactions to be executed during the Company’s closed trading periods, in accordance with Article 5(1) of EU Regulation no. 596/2014 and Article 4(2)(a) and (b) of Delegated EU Regulation no. 1052/2016.
The results of the buyback program carried out during the period 07.08.2024 – 08.11.2025 are as follows:
- Year: 2024-2025
- Number of shares repurchased: 5,369,000 shares
- Average repurchase price: 0.1853 RON/share
- Total amount paid for the repurchased shares (excluding brokerage fees and other acquisition costs) :994,784.0500 RON
The implementation of the buyback program was carried out using the Company’s own funds.
The Buyback Program aimed to reduce the Company’s share capital in accordance with the provisions of art. 207 paragraph (1) letter c) of the Companies Law no. 31/1990, republished, with subsequent amendments and additions.