{"id":10378,"date":"2020-12-18T18:56:52","date_gmt":"2020-12-18T16:56:52","guid":{"rendered":"https:\/\/investors.bittnet.ro\/?p=10378"},"modified":"2020-12-18T18:56:52","modified_gmt":"2020-12-18T16:56:52","slug":"capital-increase-softbinator-and-equatorial-acquisitions","status":"publish","type":"post","link":"https:\/\/investors.bittnet.ro\/en\/capital-increase-softbinator-and-equatorial-acquisitions\/","title":{"rendered":"Capital increase &#8211; Softbinator and Equatorial acquisitions"},"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-12 wpb_column vc_column_container\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><div class=\"wpb_text_column\"><div class=\"wpb_wrapper\"><p>BITTNET SYSTEMS S.A. (hereinafter referred to as &#8220;the Company&#8221;) informs the investors about the Decision of the Board of Directors of the Issuer to increase the share capital with the amount of RON 6,650,000 on account of the receivable held over the company by the associates\/shareholders of the two companies Equatorial Gaming and Softbinator Technologies:<br \/>\n1. issuing 10,684,445 ordinary, dematerialized shares, of equal value, with a nominal value of 0.1 RON each, and a total value of RON 1,068,444.5<br \/>\n2. registration of the amount of RON 5,581,555.50 as issue premiums<br \/>\nBased on the mandate conferred by the EGMS Decisions no. 4 and no. 5 from 26 November 2020, the Board of Directors signed two contracts for sale-purchase of shares, and established the settlement weight between cash and BNET shares for each of the 2 transactions.<br \/>\nThe total amount of the Issuer&#8217;s investments is RON 11,073,500, and the Board of Directors decided to pay the amount of RON 4,423,500 in cash and RON 6,650,000 in BNET shares. Following these operations, Bittnet Systems holds a share of 98.99% in Equatorial Gaming and 25% in Softbinator. The shareholders of the 2 companies will have allocated shares to the Issuer as follows:<\/p>\n<ul>\n<li>Daniel Berteanu \u2013 co-founder Equatorial Gaming &#8211; 2,717,647 BNET shares<\/li>\n<li>Diana Rosetka \u2013 co-founder Equatorial Gaming &#8211; 736,722 BNET shares<\/li>\n<li>Daniel Ilinca \u2013 founder Softbinator &#8211; 5,784,061 BNET shares<\/li>\n<li>Andrei Pitis \u2013 Softbinator shareholder &#8211; 1,446,015 BNET shares<\/li>\n<\/ul>\n<p>Following the issuance of the 10,684,445 BNET shares, the share capital increased by RON 1,068,444.50 , and the equity increases by the amount of RON 5,581,555.50 &#8211; issue premiums (the difference between the value of the receivable and the value by which the share capital is increased).<br \/>\nThe value of 6.65 million RON, of the receivable held by the sellers over the Company, was certified by the extrajudicial accounting expertise report dated 17.12.2020 &#8211; attached to this current report.<br \/>\nThe number of newly issued shares was determined in accordance with the provisions of art. 210 (2) of Law 31\/1990 and art. 87-88 of Law 24\/2017 on issuers of financial instruments and market operations and art. 174 of the FSA Regulation no. 5\/2018. Thus, the number of shares was established by dividing the receivable at the price of 0.6224 ron\/ share &#8211; the average price of BNET shares between 13.12.2019 &#8211; 16.12.2020.<br \/>\nThe capital increase is made by raising the right of preference and based on the Decision of the Board of Directors no. 10 of 17.12.2020 (attached to this current report) and in accordance with the attributions delegated by EGMS by Decisions no. 3 of 25.04.2018 and no. 1 of 17.12.2018, so that the newly issued shares can be allocated to the holders of the debt.<\/p>\n<p>The settlement of the 2 transactions through a mix of BNET and cash shares was approved in the EGMS of 26.11.2020, and the reason behind this model was to align the interests of the shareholders of the 2 companies acquired with Bittnet shareholders.<br \/>\nThus, the shares released as a result of the share capital increase by converting the certain, liquid and due receivable will be registered by the Central Depository in the global accounts of the 4 beneficiaries &#8211; proportional to the value of the receivable they hold over the Company.<br \/>\nBy acquiring 25% of Softbinator, the Issuer aims to open a new area of IT services &#8211; software development &#8211; together with a partner that has had among the largest expansions in this field in Romania.<br \/>\nIn case of Equatorial Gaming, after 2 years from the initial investment, we confirmed a very good alignment both operational and management for the business line &#8216;Education&#8217;, both the standard processes of Bittnet training having to gain from the Equatorial Gaming experience, and Equatorial Gaming through access to operational technology, but also to a larger customer base.<br \/>\nIn the next period, the Company will follow the legal procedures for registering the capital increase from the operation described above at the Trade Register Office, the Financial Supervisory Authority, the Central Depository and Bucharest Stock Exchange.<\/p>\n<p><a href=\"https:\/\/investors.bittnet.ro\/wp-content\/uploads\/2020\/12\/BITTNET-Raport-expertiza-extrajudiciara-SOFTBINATOREQUATORIAL-pdf-semnat.pdf\">Raportul de expertiza contabila<\/a><\/p>\n<p><a href=\"https:\/\/investors.bittnet.ro\/wp-content\/uploads\/2020\/12\/Decizie-CA-nr-10-majorare-capital-SFB-si-EQG.pdf\">Decizia CA nr. 10<\/a><\/p>\n<\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/section>\n","protected":false},"excerpt":{"rendered":"BITTNET SYSTEMS S.A. (hereinafter referred to as &#8220;the Company&#8221;) informs the investors about the Decision of the Board of Directors of the Issuer to increase the share capital with the amount of RON 6,650,000 on account of the receivable held over the company by the associates\/shareholders of the two companies Equatorial Gaming and Softbinator Technologies:...","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[389,398],"tags":[],"class_list":["post-10378","post","type-post","status-publish","format-standard","hentry","category-current-reports","category-latest-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Capital increase - Softbinator and Equatorial acquisitions - 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\/capital-increase-softbinator-and-equatorial-acquisitions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Capital increase - Softbinator and Equatorial acquisitions - Bittnet Investors Relations Site\" \/>\n<meta property=\"og:url\" content=\"https:\/\/investors.bittnet.ro\/en\/capital-increase-softbinator-and-equatorial-acquisitions\/\" \/>\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:published_time\" content=\"2020-12-18T16:56:52+00:00\" \/>\n<meta name=\"author\" content=\"Lucian Bratu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@NA\" \/>\n<meta name=\"twitter:site\" content=\"@NA\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Lucian Bratu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/investors.bittnet.ro\/en\/capital-increase-softbinator-and-equatorial-acquisitions\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/investors.bittnet.ro\/en\/capital-increase-softbinator-and-equatorial-acquisitions\/\"},\"author\":{\"name\":\"Lucian Bratu\",\"@id\":\"https:\/\/investors.bittnet.ro\/en\/#\/schema\/person\/54d368673105e588c70afb8404cdf81b\"},\"headline\":\"Capital increase &#8211; Softbinator and Equatorial acquisitions\",\"datePublished\":\"2020-12-18T16:56:52+00:00\",\"dateModified\":\"2020-12-18T16:56:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/investors.bittnet.ro\/en\/capital-increase-softbinator-and-equatorial-acquisitions\/\"},\"wordCount\":651,\"publisher\":{\"@id\":\"https:\/\/investors.bittnet.ro\/en\/#organization\"},\"articleSection\":[\"Current reports\",\"Latest news\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/investors.bittnet.ro\/en\/capital-increase-softbinator-and-equatorial-acquisitions\/\",\"url\":\"https:\/\/investors.bittnet.ro\/en\/capital-increase-softbinator-and-equatorial-acquisitions\/\",\"name\":\"Capital increase - Softbinator and Equatorial acquisitions - Bittnet Investors Relations Site\",\"isPartOf\":{\"@id\":\"https:\/\/investors.bittnet.ro\/en\/#website\"},\"datePublished\":\"2020-12-18T16:56:52+00:00\",\"dateModified\":\"2020-12-18T16:56:52+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/investors.bittnet.ro\/en\/capital-increase-softbinator-and-equatorial-acquisitions\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/investors.bittnet.ro\/en\/capital-increase-softbinator-and-equatorial-acquisitions\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/investors.bittnet.ro\/en\/capital-increase-softbinator-and-equatorial-acquisitions\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/investors.bittnet.ro\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Capital increase &#8211; Softbinator and Equatorial acquisitions\"}]},{\"@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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