BITTNET SYSTEMS S.A. (hereinafter referred to as “the Company”) informs the investors about the results of the subscription process in Stage 1 of the capital increase operation with new contributions in cash, carried out between 05 March – 03 April 2020 and in which a number of 11,046,641 new shares was offered at a price of 0.83 RON per share. During Stage 1, 25,234,640 preference rights have been subscribed resulting a total of 5,046,928 new shares, which represents 45.68% of the entire issue. The total amount of capital raised by the Company is RON 4,188,950.24. In Stage 2 the Company will offer for sale the remaining 5,999,713 unsubscribed shares, within a private placement, at a price of RON 0.8310 per share. Stage 2 of the capital increase will take place over a period of 5 working days starting with 06 April 2020 through SSIF Tradeville SA.