{"id":14359,"date":"2021-11-12T11:05:34","date_gmt":"2021-11-12T09:05:34","guid":{"rendered":"https:\/\/investors.bittnet.ro\/?page_id=14359"},"modified":"2021-11-12T18:00:17","modified_gmt":"2021-11-12T16:00:17","slug":"key-events-in-q3-2021","status":"publish","type":"page","link":"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/q3-2021\/key-events-in-q3-2021\/","title":{"rendered":"Key events in Q3 2021"},"content":{"rendered":"<section class=\"l-section wpb_row height_small\"><div class=\"l-section-h i-cf\"><div class=\"g-cols vc_row via_flex valign_top type_default stacking_default\"><div class=\"vc_col-sm-8 wpb_column vc_column_container\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><div class=\"wpb_text_column\"><div class=\"wpb_wrapper\"><h1><span class=\"TextRun SCXW22645091 BCX0\" lang=\"EN-GB\" xml:lang=\"EN-GB\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW22645091 BCX0\" data-ccp-parastyle=\"heading 1\">Key events in Q3 <\/span><span class=\"NormalTextRun SCXW22645091 BCX0\" data-ccp-parastyle=\"heading 1\">2021<\/span><\/span><span class=\"EOP BookmarkEnd SCXW22645091 BCX0\" data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:120,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/h1>\n<\/div><\/div><div class=\"w-separator size_small\"><\/div><div class=\"w-tabs style_default switch_click accordion has_scrolling\" style=\"--sections-title-size:inherit\"><div class=\"w-tabs-sections titles-align_none icon_chevron cpos_right\"><div class=\"w-tabs-section\" id=\"ha60\"><button class=\"w-tabs-section-header\" aria-controls=\"content-ha60\" aria-expanded=\"false\"><div class=\"w-tabs-section-title\">Share capital increase with bonus shares (6:10) | July 2021 <\/div><div class=\"w-tabs-section-control\"><\/div><\/button><div  class=\"w-tabs-section-content\" id=\"content-ha60\"><div class=\"w-tabs-section-content-h i-cf\"><div class=\"wpb_text_column\"><div class=\"wpb_wrapper\"><p><span class=\"TextRun SCXW99901408 BCX0\" lang=\"EN-GB\" xml:lang=\"EN-GB\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW99901408 BCX0\">On July 22, 2021, the Central Depository has debited to the shareholders&#8217; accounts as of the record date 21.07.2021 a total of 148,336,965 free shares issued pursuant to the Decision of the Board of Directors of 06.07.2021 and the EGMS Resolution no. 2\/27.04.2021. The Board of Directors then decided according to the mandate given by Resolution no. 2 to maintain the allocation rate of 6 free shares for every 10 shares held, which have been allocated in the shareholder portfolios since the record date, in proportion to the holdings.<\/span><\/span><span class=\"EOP SCXW99901408 BCX0\" data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:120,&quot;335559739&quot;:120,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<\/div><\/div><\/div><\/div><\/div><div class=\"w-tabs-section\" id=\"pbc8\"><button class=\"w-tabs-section-header\" aria-controls=\"content-pbc8\" aria-expanded=\"false\"><div class=\"w-tabs-section-title\">Cash distribution option vs free shares (1:10) | July 2021 <\/div><div class=\"w-tabs-section-control\"><\/div><\/button><div  class=\"w-tabs-section-content\" id=\"content-pbc8\"><div class=\"w-tabs-section-content-h i-cf\"><div class=\"wpb_text_column\"><div class=\"wpb_wrapper\"><p>Bittnet a pus la dispozitia investitorilor o solutie de optare electronica in vederea implementarii Hotararii AGEA nr. 3\/29.04.2020, astfel incat actionarii de la data de inregistrare au putut alege intre distributia cash sau sa primeasca o actiune gratuita la 10 conform Hotararii AGEA nr. 3 din 27 Aprilie 2021 si conform procedurii suplimentare de optare pentru implementarea acesteia.<\/p>\n<p><span data-contrast=\"auto\">Bittnet\u00a0provided investors with an electronic option solution for the implementation of the EGMS Resolution no. 3\/29.04.2020, so that shareholders as of the record date could choose between cash distribution or receiving one free share for every 10 as per EGMS Resolution no. 3 of 27 April 2021 and as per the additional option procedure for its implementation.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:120,&quot;335559739&quot;:120,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">During the option period, 26 July \u2013 03 August 2021, 17:00, the Issuer received a total of 325 options from 325 shareholders representing a total of 167,393,769 voting rights,\u00a0i.e.\u00a067.70% of the total voting rights of the Issuer. Of the options cast, 210 shareholders representing 162,611,497 voting rights,\u00a0i.e.\u00a065.77% of the total voting rights opted for OPTION 1 &#8211;\u00a0i.e.\u00a0for cash distribution. The Company transferred to these shareholders the amount of RON 1,626,109.60 starting from August 4, 2021, through the Central Depository system, with Banca\u00a0Transilvania\u00a0as paying agent.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:120,&quot;335559739&quot;:120,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Shareholders who voted \u201cagainst\u201d or \u201cabstention\u2019, as well as those who did not take any action did not benefit from the cash distribution, were allocated their shares in Section 1 of the Central Depository.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:120,&quot;335559739&quot;:120,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p>Actionarilor care au votat &#8216;impotriva&#8217; sau &#8216;abtinere&#8217;, precum si cei care nu au intreprins niciun demers nu au beneficiat de distributia in cash, le-au fost alocate actiunile in Sectiunea 1 a Depozitarului Central.<\/p>\n<\/div><\/div><\/div><\/div><\/div><div class=\"w-tabs-section\" id=\"od1e\"><button class=\"w-tabs-section-header\" aria-controls=\"content-od1e\" aria-expanded=\"false\"><div class=\"w-tabs-section-title\">Signing of the investment agreement with ITPrepared | August 2021 <\/div><div class=\"w-tabs-section-control\"><\/div><\/button><div  class=\"w-tabs-section-content\" id=\"content-od1e\"><div class=\"w-tabs-section-content-h i-cf\"><div class=\"wpb_text_column\"><div class=\"wpb_wrapper\"><p><span data-contrast=\"auto\">On August 8, 2021, the Company signed the agreement to acquire a majority stake in ITPREPARED SRL. The transaction price amounted to USD 673,200 for 50.2% of the company&#8217;s share capital.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:120,&quot;335559739&quot;:120,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">ITPrepared\u00a0is a managed services company that provides IT support services for Romanian and foreign customers, on technologies\u00a0similar to\u00a0those covered by\u00a0Dendrio\u00a0Solutions (a company 100% held by\u00a0Bittnet), respectively on the solutions of major technology vendors such as Cisco, Microsoft and VMWare.\u00a0ITPrepared\u00a0has also developed internally a platform \u2013 currently at beta level \u2013 for IT support marketplace type on which the services delivered by\u00a0Dendrio\u00a0Solutions will be listed in the future.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:120,&quot;335559739&quot;:120,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<\/div><\/div><\/div><\/div><\/div><div class=\"w-tabs-section\" id=\"ee6f\"><button class=\"w-tabs-section-header\" aria-controls=\"content-ee6f\" aria-expanded=\"false\"><div class=\"w-tabs-section-title\">Signing of the investment agreement with Nenos Software and Nonlinear | August 2021 <\/div><div class=\"w-tabs-section-control\"><\/div><\/button><div  class=\"w-tabs-section-content\" id=\"content-ee6f\"><div class=\"w-tabs-section-content-h i-cf\"><div class=\"wpb_text_column\"><div class=\"wpb_wrapper\"><p><span data-contrast=\"auto\">On August 10, 2021, the Company signed the agreement for the acquisition of majority stakes in software developer Nenos Software SRL and Nonlinear SRL.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:120,&quot;335559739&quot;:120,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The value of the transaction amounted to RON 4,850,000 for 60.97% of Nenos Software and for the acquisition of 60% of Nonlinear SRL, the transaction price is RON 120 and is equal to the nominal value of the shares transferred.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:120,&quot;335559739&quot;:120,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">By acquiring the majority stakes in Nenos Software SRL and Nonlinear SRL,\u00a0Bittnet\u00a0consolidates its position in the software development division, while also entering the artificial intelligence sector.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:120,&quot;335559739&quot;:120,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Nenos Software has over 7 years of experience in software development, and the company offers customers a wide range of solutions developed using human and artificial intelligence. In both acquired companies, the remaining stakes will be held by the founder, Mr. Toader\u00a0Toporau. These companies will\u00a0strengthen the software development pole of the\u00a0Bittnet\u00a0Group, which was established in December 2020 through the acquisition of a 25% stake in\u00a0Softbinator\u00a0Technologies SA.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:120,&quot;335559739&quot;:120,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<\/div><\/div><\/div><\/div><\/div><div class=\"w-tabs-section\" id=\"if7e\"><button class=\"w-tabs-section-header\" aria-controls=\"content-if7e\" aria-expanded=\"false\"><div class=\"w-tabs-section-title\">Signing of investment agreements with ISEC Associates and Computer Learning Center | August 2021 <\/div><div class=\"w-tabs-section-control\"><\/div><\/button><div  class=\"w-tabs-section-content\" id=\"content-if7e\"><div class=\"w-tabs-section-content-h i-cf\"><div class=\"wpb_text_column\"><div class=\"wpb_wrapper\"><p><span data-contrast=\"auto\">On August 20, 2021, the Company announced the signing of share purchase agreements for the acquisition of a majority stake in the cyber security company \u2013 ISEC Associates SRL and the full acquisition of the IT training company &#8211; Computer Learning Center SRL.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:120,&quot;335559739&quot;:120,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Through the full acquisition of CLC,\u00a0Bittnet\u00a0Group strengthens its\u00a0Education\u00a0division and expands its certification portfolio, especially in the cyber security sector.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:120,&quot;335559739&quot;:120,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<\/div><\/div><\/div><\/div><\/div><div class=\"w-tabs-section\" id=\"w184\"><button class=\"w-tabs-section-header\" aria-controls=\"content-w184\" aria-expanded=\"false\"><div class=\"w-tabs-section-title\">EGMS | September 2021 <\/div><div class=\"w-tabs-section-control\"><\/div><\/button><div  class=\"w-tabs-section-content\" id=\"content-w184\"><div class=\"w-tabs-section-content-h i-cf\"><div class=\"wpb_text_column\"><div class=\"wpb_wrapper\"><p><span data-contrast=\"auto\">On September 7, 2021, the Company held the Extraordinary General Meeting of Shareholders, at the address Gara\u00a0Herastrau\u00a0Street Nr. 2, Impact Hub Bucharest\u00a0Floreasca, Equilibrium Building, Floor 1 &amp; 2, Bucharest 020334, as well as in electronic format, first call. Following the debates, the Company&#8217;s shareholders adopted, among others, the following decisions regarding the items on the agenda:<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:120,&quot;335559739&quot;:120,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"41\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Purchase of\u00a0a number of\u00a0registered shares representing 20% \u200b\u200bof the share capital of Datascript SRO A.S, a company registered in the Czech Republic with its registered office in Prague. The transaction price is\u00a0EUR\u00a0275,000 and will be paid in the form of BNET shares that will be settled in a future operation to increase the share capital.\u00a0<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:120,&quot;335559739&quot;:120,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"41\" aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">Granting loans or guarantees for accessing loans from\u00a0Bittnet\u00a0Group companies, amounting to a maximum of\u00a0EUR\u00a0500,000 in the next 2 calendar years after the completion of the investment, to the company Datascript SRO.\u00a0<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:120,&quot;335559739&quot;:120,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"41\" aria-setsize=\"-1\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"auto\">Ratification of the investment agreement regarding the purchase of\u00a0a number of\u00a0registered shares representing 100% of the share capital of COMPUTER LEARNING CENTER SRL. The transaction price is\u00a0RON\u00a0225,000 and will be paid in cash.\u00a0<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:120,&quot;335559739&quot;:120,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"41\" aria-setsize=\"-1\" data-aria-posinset=\"4\" data-aria-level=\"1\"><span data-contrast=\"auto\">Approval of the granting of loans or guarantees for accessing loans from the companies from the\u00a0Bittnet\u00a0Group, amounting to a maximum of\u00a0EUR\u00a0420,000 in the next 2 calendar years after the completion of the investment, to the COMPUTER LEARNING CENTER SRL company.\u00a0<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:120,&quot;335559739&quot;:120,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"41\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Ratification of the investment agreement regarding the purchase of\u00a0a number of\u00a0registered shares representing 69.99200% of the share capital of ISEC Associates S.R.L. The transaction price is\u00a0RON\u00a0295,000\u00a0(two hundred and ninety-five thousand\u00a0RON) and will be paid in cash.\u00a0<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:120,&quot;335559739&quot;:120,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"41\" aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">Granting loans or guarantees for accessing loans from\u00a0Bittnet\u00a0Group companies, amounting to a maximum of\u00a0EUR\u00a0241,000 in the next 2 calendar years after the completion of the investment, to the company ISEC Associates S.R.L.\u00a0<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:120,&quot;335559739&quot;:120,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"41\" aria-setsize=\"-1\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"auto\">Ratification of the investment agreement regarding the purchase of\u00a0a number of\u00a0registered shares representing 60.97% of the share capital of NENOS SOFTWARE SRL. The transaction price is RON 4,850,000 and will be paid 50% in cash and 50% in BNET shares that will be settled in a future share capital increase operation.\u00a0<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:120,&quot;335559739&quot;:120,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"41\" aria-setsize=\"-1\" data-aria-posinset=\"4\" data-aria-level=\"1\"><span data-contrast=\"auto\">Ratification of the investment agreement regarding the purchase of\u00a0a number of\u00a0registered shares representing 60% of the share capital of NONLINEAR SRL.\u00a0<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:120,&quot;335559739&quot;:120,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"41\" aria-setsize=\"-1\" data-aria-posinset=\"5\" data-aria-level=\"1\"><span data-contrast=\"auto\">Purchase of\u00a0a number of\u00a0registered shares representing 90% of the share capital of TOP TECH SRL. The transaction price is RON 11,500,000 and the amount of\u00a0RON\u00a07,500,000 and the amount of 4,000,000 lei will be paid in two cash\u00a0installments, which will be paid in the form of BNET shares, settled in a future operation to increase share capital.\u00a0<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:120,&quot;335559739&quot;:120,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"41\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Ratification of the investment made by the Company in the share capital of the company ARCTIC STREAM S.A.<\/span><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/div><\/div><div class=\"w-tabs-section\" id=\"x2de\"><button class=\"w-tabs-section-header\" aria-controls=\"content-x2de\" aria-expanded=\"false\"><div class=\"w-tabs-section-title\">Debt restructuring Computer Learning Center &amp; ISEC Associates | September 2021 <\/div><div class=\"w-tabs-section-control\"><\/div><\/button><div  class=\"w-tabs-section-content\" id=\"content-x2de\"><div class=\"w-tabs-section-content-h i-cf\"><div class=\"wpb_text_column\"><div class=\"wpb_wrapper\"><p><span data-contrast=\"auto\">On September 27, 2021, the Company informed investors of reaching an agreement with lenders Computer Learning Center (\u201cCLC\u201d) and ISEC Associates (\u201cISEC\u201d) to restructure the debts of the two companies that recently joined\u00a0Bittnet\u00a0Group.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:120,&quot;335559739&quot;:120,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Under the two payment agreements, CLC and ISEC have committed to immediately pay 35% of the total amounts owed in exchange for the debt settlement, thereby strengthening their financial position. In this regard,\u00a0Bittnet\u00a0granted a loan of RON 560,000 to CLC and of RON 370,000 to ISEC, with which funds were transferred to CLC and ISEC creditors, according to the agreements.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:120,&quot;335559739&quot;:120,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The loans granted by\u00a0Bittnet\u00a0were signed under the same conditions as those granted in the past to\u00a0Dendrio\u00a0Solutions, interest rate 9% per annum and maturity in 3 years and are granted according to EGMS Resolutions no. 5 and no. 7 of 07.09.2021.<\/span><\/p>\n<\/div><\/div><\/div><\/div><\/div><div class=\"w-tabs-section\" id=\"b41b\"><button class=\"w-tabs-section-header\" aria-controls=\"content-b41b\" aria-expanded=\"false\"><div class=\"w-tabs-section-title\">Transfer of Softbinator Technologies shares | September 2021 <\/div><div class=\"w-tabs-section-control\"><\/div><\/button><div  class=\"w-tabs-section-content\" id=\"content-b41b\"><div class=\"w-tabs-section-content-h i-cf\"><div class=\"wpb_text_column\"><div class=\"wpb_wrapper\"><p><span data-contrast=\"auto\">On September 28, 2021, the Company informed interested parties that prior to the completion of the private placement of\u00a0Softbinator\u00a0Technologies SA (symbol: CODE) and in order to give an opportunity to the members of the Group team to be part of the CODE shareholding as a listed company, the main shareholders (Daniel Ilinca, Simple Capital, and\u00a0Bittnet) sold a total number of 59,530 CODE shares to a number of 35 individuals (employees and collaborators of the Group) and 3 legal entities, including 2 investment vehicles from\u00a0Impetum\u00a0Group and\u00a0Autonom\u00a0Group. The transfer of the shares was made at the maximum placement price and outside the capital market mechanisms and represents 5.95% of the share capital and shares of\u00a0Softbinator\u00a0Technologies.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:120,&quot;335559739&quot;:120,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Following these transactions,\u00a0Bittnet\u00a0holds a total of 188,980 CODE shares representing 18.8980% of\u00a0Softbinator\u00a0Technologies SA.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:120,&quot;335559739&quot;:120,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<\/div><\/div><\/div><\/div><\/div><div class=\"w-tabs-section\" id=\"e576\"><button class=\"w-tabs-section-header\" aria-controls=\"content-e576\" aria-expanded=\"false\"><div class=\"w-tabs-section-title\">Sale of Autodesk business &#8211; Dendrio Solutions | October 2021<\/div><div class=\"w-tabs-section-control\"><\/div><\/button><div  class=\"w-tabs-section-content\" id=\"content-e576\"><div class=\"w-tabs-section-content-h i-cf\"><div class=\"wpb_text_column\"><div class=\"wpb_wrapper\"><p><span data-contrast=\"auto\">On October 1, 2021, the Company informed investors and interested parties about the signing of the sale and purchase agreement, on September 30, 2021, regarding the transfer of the Autodesk business between\u00a0Dendrio\u00a0Solutions SRL and GRAPHEIN INTERNATIONAL SRL.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:120,&quot;335559739&quot;:120,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The contract price is of EUR 450.000 and will be received by\u00a0Dendrio\u00a0Solutions in 4 instalments until 2024. The contract provides for the transfer to the buyer (Graphein\u00a0International) of\u00a0Dendrio&#8217;s\u00a0business activity based on the relationship with the American technology vendor Autodesk, meaning the transfer of ongoing contracts with customers, the transfer of knowledge, as well as Gold Partner status.\u00a0\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:120,&quot;335559739&quot;:120,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The funds raised from this transaction will be reinvested in the development of strategic cloud and cybersecurity business lines and in potential future M&amp;A transactions in these areas.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:120,&quot;335559739&quot;:120,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Bittnet\u00a0Systems SA holds 100% of the shares of\u00a0Dendrio\u00a0Solutions SRL.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:120,&quot;335559739&quot;:120,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><div class=\"vc_col-sm-4 wpb_column vc_column_container\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><nav class=\"w-menu layout_ver style_blocks us_menu_1 with_children\" style=\"--main-gap:1.5rem;--main-ver-indent:0.8em;--main-hor-indent:0.8em;--main-bg-color:rgba(0,0,0,0.1);--main-color:inherit;--main-hover-bg-color:#8dbe65;--main-hover-color:#ffffff;--main-active-bg-color:#8dbe65;--main-active-color:#ffffff;--sub-gap:5px;\"><ul id=\"menu-q3-2021\" class=\"menu\"><li id=\"menu-item-14132\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-14132\"><a href=\"https:\/\/investors.bittnet.ro\/rezultate-financiare\/3q-2021\/\">Message from the CEO<\/a><\/li><li id=\"menu-item-14144\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children menu-item-14144\"><a href=\"https:\/\/investors.bittnet.ro\/rezultate-financiare\/3q-2021\/divizia-tehnologie\/\">Technology Division<\/a><ul class=\"sub-menu\"><li id=\"menu-item-14185\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-14185\"><a href=\"https:\/\/investors.bittnet.ro\/rezultate-financiare\/3q-2021\/divizia-tehnologie\/situatia-activitatii-operationale\/\">Presentation of the operational activity<\/a><\/li><li id=\"menu-item-14184\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-14184\"><a href=\"https:\/\/investors.bittnet.ro\/rezultate-financiare\/3q-2021\/divizia-tehnologie\/rezultate-financiare\/\">Financial Results \u2013 Technology Division<\/a><\/li><\/ul><\/li><li id=\"menu-item-14150\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children menu-item-14150\"><a href=\"https:\/\/investors.bittnet.ro\/rezultate-financiare\/3q-2021\/divizia-educatie\/\">Education Division<\/a><ul class=\"sub-menu\"><li id=\"menu-item-14194\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-14194\"><a href=\"https:\/\/investors.bittnet.ro\/rezultate-financiare\/3q-2021\/divizia-educatie\/prezentarea-activitatii-operationale\/\">Presentation of the operational activity<\/a><\/li><li id=\"menu-item-14193\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-14193\"><a href=\"https:\/\/investors.bittnet.ro\/rezultate-financiare\/3q-2021\/divizia-educatie\/rezultate-financiare\/\">Financial results \u2013 Education Division<\/a><\/li><\/ul><\/li><li id=\"menu-item-14162\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-14162\"><a href=\"https:\/\/investors.bittnet.ro\/rezultate-financiare\/3q-2021\/rezultatul-financiar-si-profit-brut\/\">Financial result and gross profit<\/a><\/li><li id=\"menu-item-14278\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-14278\"><a href=\"https:\/\/investors.bittnet.ro\/rezultate-financiare\/3q-2021\/situatia-consolidata-a-pozitiei-financiare-elemente-cheie\/\">Consolidated statement of financial position \u2013 key elements<\/a><\/li><li id=\"menu-item-14277\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-14277\"><a href=\"https:\/\/investors.bittnet.ro\/rezultate-financiare\/3q-2021\/situatia-consolidata-a-fluxurilor-de-trezorerie-elemente-cheie\/\">Consolidated situation of cash flow \u2013 key elements<\/a><\/li><li id=\"menu-item-14208\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-14208\"><a href=\"https:\/\/investors.bittnet.ro\/rezultate-financiare\/3q-2021\/o-perspectiva-anuala-a-rezultatelor-financiare\/\">An annual overview of financial results<\/a><\/li><li id=\"menu-item-14218\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-14218\"><a href=\"https:\/\/investors.bittnet.ro\/rezultate-financiare\/3q-2021\/evaluarea-altor-companii-similare\/\">Assessment of other similar companies<\/a><\/li><li id=\"menu-item-14223\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-14223\"><a href=\"https:\/\/investors.bittnet.ro\/rezultate-financiare\/3q-2021\/indicatori-conform-anexa-13-reg-asf-5-2018\/\">Indicators according to the Annex 13 Reg. ASF 5\/2018<\/a><\/li><li id=\"menu-item-14228\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-14228\"><a href=\"https:\/\/investors.bittnet.ro\/rezultate-financiare\/3q-2021\/evenimente-cheie-in-t3-2021\/\">Key events in Q3 2021<\/a><\/li><li id=\"menu-item-14241\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-14241\"><a href=\"https:\/\/investors.bittnet.ro\/rezultate-financiare\/3q-2021\/factori-de-risc\/\">Risk factors<\/a><\/li><li id=\"menu-item-14240\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-14240\"><a href=\"https:\/\/investors.bittnet.ro\/rezultate-financiare\/3q-2021\/contact-relatia-cu-investitorii\/\">Contact person for the relation with investors<\/a><\/li><li id=\"menu-item-14251\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-14251\"><a href=\"https:\/\/investors.bittnet.ro\/rezultate-financiare\/3q-2021\/anexa-1-alternative-performance-measurements-despre-indicatorii-alternativi-de-performanta\/\">Annex 1 \u2013 \u2018Alternative Performance Measurements\u2019<\/a><\/li><li id=\"menu-item-14250\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-14250\"><a href=\"https:\/\/investors.bittnet.ro\/rezultate-financiare\/3q-2021\/situatii-financiare\/\">Financial Statements<\/a><\/li><\/ul><style>@media ( max-width:600px ){.us_menu_1 .menu{display:block!important}.us_menu_1 .menu>li:not(:last-child){margin:0 0 var(--main-gap,1.5rem)!important}}<\/style><\/nav><\/div><\/div><\/div><\/div><\/div><\/section>\n","protected":false},"excerpt":{"rendered":"Key events in Q3 2021\u00a0 Share capital increase with bonus shares (6:10) | July 2021 On July 22, 2021, the Central Depository has debited to the shareholders&#8217; accounts as of the record date 21.07.2021 a total of 148,336,965 free shares issued pursuant to the Decision of the Board of Directors of 06.07.2021 and the EGMS...","protected":false},"author":13,"featured_media":0,"parent":14286,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-14359","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Key events in Q3 2021 - Bittnet Investors Relations Site<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/q3-2021\/key-events-in-q3-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Key events in Q3 2021 - Bittnet Investors Relations Site\" \/>\n<meta property=\"og:url\" content=\"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/q3-2021\/key-events-in-q3-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"Bittnet Investors Relations Site\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/BittnetSystems\/\" \/>\n<meta property=\"article:modified_time\" content=\"2021-11-12T16:00:17+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@NA\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"8 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/q3-2021\/key-events-in-q3-2021\/\",\"url\":\"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/q3-2021\/key-events-in-q3-2021\/\",\"name\":\"Key events in Q3 2021 - Bittnet Investors Relations Site\",\"isPartOf\":{\"@id\":\"https:\/\/investors.bittnet.ro\/en\/#website\"},\"datePublished\":\"2021-11-12T09:05:34+00:00\",\"dateModified\":\"2021-11-12T16:00:17+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/q3-2021\/key-events-in-q3-2021\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/q3-2021\/key-events-in-q3-2021\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/q3-2021\/key-events-in-q3-2021\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/investors.bittnet.ro\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Current and historical financial results\",\"item\":\"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Message from the CEO\",\"item\":\"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/q3-2021\/\"},{\"@type\":\"ListItem\",\"position\":4,\"name\":\"Key events in Q3 2021\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/investors.bittnet.ro\/en\/#website\",\"url\":\"https:\/\/investors.bittnet.ro\/en\/\",\"name\":\"Bittnet Investors Relations Site\",\"description\":\"Your Value. 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