{"id":7725,"date":"2019-07-09T19:52:31","date_gmt":"2019-07-09T16:52:31","guid":{"rendered":"https:\/\/investors.bittnet.ro\/?p=7725"},"modified":"2019-07-09T19:58:21","modified_gmt":"2019-07-09T16:58:21","slug":"bittnet-group-distributes-ron-55-million-worth-of-stock-dividends-to-its-shareholders","status":"publish","type":"post","link":"https:\/\/investors.bittnet.ro\/en\/bittnet-group-distributes-ron-55-million-worth-of-stock-dividends-to-its-shareholders\/","title":{"rendered":"BITTNET GROUP DISTRIBUTES RON 5,5 MILLION WORTH OF STOCK DIVIDENDS TO ITS SHAREHOLDERS"},"content":{"rendered":"\n<p style=\"text-align:left\">On July 9<sup>th<\/sup>, the shareholders\nof Bittnet Group (<a href=\"http:\/\/bvb.ro\/FinancialInstruments\/Details\/FinancialInstrumentsDetails.aspx?s=BNET\">BNET<\/a>), an AeRO listed company and the first ever IT issuer\nquoted on the Bucharest Stock Exchange, receive, for the fourth consecutive\nyear, dividends in the form of free stocks. During the process, the company distributes\nthe accrued profits from 2018, in the amount of RON 5 523 320.50 under the\nallocation ration of 1:1, meaning that 1 free share is awarded for each BNET\nshare held by the investors. During the process, 55.233.205 new shares with\nnominal value of RON 0.1 per share were issued.<\/p>\n\n\n\n<p>Bittnet Group has established a\nstable dividend policy. Since listing on the AeRO market of the Bucharest Stock\nExchange in 2015, the company has followed a patented model, of distributing to\nits shareholders the accrued profits in the form of free shares. In total,\nsince listing in April 2015, Bittnet has managed to increase its share capital\nwith almost 10 million lei through these operations alone. The company plans to\nmaintain the same dividend policy for the coming years, including after the\ntransfer to the Main Market of the Bucharest Stock Exchange. <\/p>\n\n\n\n<p>\u201cWe believe that the model that\nwe have followed, of distributing the profits in the form of dividends, is a\nwin-win situation for all. On one hand, the investors are well rewarded for\ntheir investment in Bittnet, while, on the other hand, the company gains\ncapital for furthering its development plans. We aim to maintain the same\npolicy for the coming years, including after the transfer to the Main Market of\nthe Bucharest Stock Exchange at the end of this year\u201d said Mihai Logofatu, CEO\nat Bittnet Group.<\/p>\n\n\n\n<p>Since the beginning of this year,\nBNET shares were the most traded stock on the BVB\u2019s AeRO market, both in terms\nof value traded as well as number of trades executed as stocks worth\napproximately 28,5 million lei changed their shareholders in estimated 8,000\ntrades. Taking into consideration the closing price from July 5<sup>th<\/sup>, year-to-date,\nBittnet shares managed to increase their value by more than 200% (calculations\nbased on the rebased price). Since listing on the AeRO market in April 2015,\nBNET\u2019s market capitalization increased almost thirteenfold (1273%). <\/p>\n\n\n\n<p>\u201cBNET shares have benefitted from\nthe increased activity of the investors in the first half of this year. In the\nwhole year 2018, there were 3,500 transactions with BNET shares while today, at\nthe beginning of July 2019 we are close to reaching the number of 8,000\ntransactions executed with Bittnet shares. We consider this significant growth\nas a sign of both interest as well as trust accorded by the investors, who\nbelieve in our vision and strategy for further developing Bittnet Group.\nPleased with the investors\u2019 reception, we continue to work on consolidating and\nstrengthening of our market position on the local and external markets and we thank\nall shareholders for being part of our story\u201d said Cristian Logofatu, CFO at\nBittnet Group.<\/p>\n\n\n\n<p>Bittnet was founded in 2007 by\nbrothers Mihai and Cristian Logofatu and was initially focused on delivering IT\ntrainings but after few years, introduced the IT&amp;C integration division.\nThe company listed on Bucharest Stock Exchange\u2019s AeRO market for start-ups and\nSMEs in April 2015, following an infusion of capital from Polish pre-IPO fund,\nCarpathia Capital. Today, Bittnet is a Group of companies focused on two main\ndomains of activity: technology and technology education, and it includes the\nfollowing brands: Bittnet Training, Dendrio, Equatorial, Elian Solutions as\nwell as Credis Academy. In October 2018, Bittnet Group has announced its\nintention to transfer to the Main Market of the Bucharest Stock Exchange, a\ndecision which has been approved by the General Shareholders Meeting from\nDecember 2018. <\/p>\n\n\n\n<p>Following the today\u2019s increase,\nBittnet Group\u2019s share capital is divided into 110,466,410 nominative, common,\ndematerialized shares with a nominal value of RON 0.1 each.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On July 9th, the shareholders of Bittnet Group (BNET), an AeRO listed company and the first ever IT issuer quoted on the Bucharest Stock Exchange, receive, for the fourth consecutive year, dividends in the form of free stocks. During the process, the company distributes the accrued profits from 2018, in the amount of RON 5&#8230;<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[398,423,413],"tags":[],"class_list":["post-7725","post","type-post","status-publish","format-standard","hentry","category-latest-news","category-shareholders","category-shares"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>BITTNET GROUP DISTRIBUTES RON 5,5 MILLION WORTH OF STOCK DIVIDENDS TO ITS SHAREHOLDERS - 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\/bittnet-group-distributes-ron-55-million-worth-of-stock-dividends-to-its-shareholders\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BITTNET GROUP DISTRIBUTES RON 5,5 MILLION WORTH OF STOCK DIVIDENDS TO ITS SHAREHOLDERS - Bittnet Investors Relations Site\" \/>\n<meta property=\"og:description\" content=\"On July 9th, the shareholders of Bittnet Group (BNET), an AeRO listed company and the first ever IT issuer quoted on the Bucharest Stock Exchange, receive, for the fourth consecutive year, dividends in the form of free stocks. 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