BITTNET SYSTEMS S.A. (hereinafter referred to as “the Company”) announces the investors about successfully finalizing the negotiations for the investment in Equatorial Gaming , and signing the investment contract, according to the mandate given by the shareholder meeting decision no. 8 from 25 april 2018. The investment includes 2 stages:
In first stage the Company will buy shares from existing shareholders in amount of RON
1,050,000 – for a participation of 24.9989% in Equatorial Gaming SA.
In Stage 2, a convertible loan amount of RON 1,050,000 will be made over a 3-year time
period, with a fixed interest rate of 9% per year. According to the investment contract, the
conversion option remains with Bittnet. In case of exercising the option, the ownership of
Bittnet in the Equatorial would reach 45%.
Over the next period Bittnet Management will focus on integrating the operations of the
four companies in Bittnet Group.
Equatorial Gaming will dedicate the coming months to promoting the new version of its
game, called VRunners, which was launched in June this year at the “International
Conference of e-Learning in the Workplace”, held in the United States at the prestigious
Columbia University.
