BITTNET SYSTEMS S.A. (hereinafter referred to as “the Company”) informs the investors about the improvement of financing structure of the Group with the following operations regarding banking loans:

1.      Early repayment by Bittnet Systems S.A. of a loan: RON 4.5 million contracted in August 2017 from ProCredit Bank;

2.      Signing of a revolving-overdraft by Dendrio Solutions SRL from ProCredit Bank with the following conditions:

·         Credit amount: RON 4,500,000

·         Destination of facility: financing the working capital and current activity

·         Maturity: 24 months

·         Interest rate: ROBOR3M +2.4% per year

·         Guarantee structure:

–          Cash collateral: 10% of the facility’s value

–          Guarantee from Bittnet Systems S.A.

–          Guarantee under the “SME Initiative” program funded by the European Union through ERDF and “Horizon 2020” and by the European Investment Fund and European Investment Bank

–          Mortgage on the Dendrio Solutions SRL bank accounts at ProCredit Bank

3.      Extension by Elian Solutions SRL of the revolving-overdraft facility in amount of RON 224,000 contracted from Unicredit Bank:

·         Reimbursment method: at maturity;

·         Maturity facility: 6 months

·         Interest rate: ROBOR1M+6% per year

·         Guarantee structure: mortgage on current bank accounts opened with Unicredit Bank and the general assigment of receivables.

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