Market News


BITTNET SYSTEMS SA - BNET

Signing of a significant contract Dendrio Solutions SRL

Release Date: 6/12/2019 6:00:09 PM

IRIS Code: 8A83B

 

Current Report no. 28 / 2019

 

Current report according to

Rulebook BVB for AeRO-ATS, Law 24/2017,

ASF 5/2018

Date of report

12.06.2019

Name of the issuing entity

BITTNET SYSTEMS S.A

Legal Adress

Soimus Street, no. 23, bl. 2, Sc. B, 2nd Floor, Ap. 24, District 4

Adress

Timisoara Blbv. no. 26, Plaza Romania Offices Building, 1st Floor, District 6, Bucharest

Telefon/Fax

021.527.16.00 / 021.527.16.98

Fiscal Code

 21181848

Number with the Trade Registration

J40/3752/2007

The market where the securities issued are traded:

AeRO ATS Premium

Ticker

BNET – shares

BNET22, BNET23, BNET23A, BNET23C – bonds

Subscribed and paid share capital

11.046.641 RON

Total number of shares

110.466.410 shares face value RON 0.10 per share

 

 

Signing of a significant contract –

Dendrio Solutions SRL

 

 

 

BITTNET SYSTEMS S.A. informs the investors about a significant contract signing by Dendrio Solutions SRL, company owned 100% by Bittnet Systems S.A.
·         Private customer: electricity distributor;
·         Contract object: software licensing;
·         Contract value: EUR 1,400,000;
·         Delivery time: July 2019 and January 2020;
·         Payment deadline: 90 days from delivery for a fraction of the project (aprox. EUR 80,000)
For the rest of the contract value, Dendrio Solutions will sign agreements with banks for factoring products regarding cash flow optimisation.
Also, because the bid was made in the national currency and the supplier's purchase is made in euros, Dendrio opened forward positions to cover the currency fluctuation risk, with the current EUR/RON rate 'blocked' on the supplier's invoices maturities.
 

 

 

CFO

CRISTIAN LOGOFATU

 

 



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