Bittnet Systems S.A. (hereinafter referred to as “the Company”) informs the shareholders about the improvement of the financing structure of Dendrio Solutions SRL (ex Gecad NET SRL) with the following operation regarding banking loans:
• signing of a revolving overdraft contract with ProCredit Bank in amount of RON 1,800,000 with an interest rate of ROBOR3M+2.5% per year and a 36 months maturity; The guarantees for the credit line are:
• 8.33% collateral cash deposit;
• parental guarantee from Bittnet Systems SA;
• 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 loan will be used for financing current activity and working capital of Dendrio Solutions SRL. Bittnet Systems is the Sole Associate of Dendrio Solutions SRL.