BITTNET SYSTEMS S.A. (referred to as the “Company” / “Issuer” / “Group”) informs investors about the signing of the closing certificate for the sale of the group company Elian Solutions SRL to the Latvian company Digmatix AS. The transaction price amounted to 6 million euro for 100% of Elian Solutions (together with the subsidiary Elian Development Systems) of which the amount received by Bittnet upon signing the closing certificate is 3.3 million euro. The deferred price, amounting approximately 357 thousand euro, will be paid to Bittnet in March 2027.
The sale of Elian is part of the Group’s strategy to capitalize on the assets in the portfolio. The resulting funds will be directed to make BNET share buybacks and/or dividend distributions to the Issuer’s shareholders.