Bittnet Systems will hold an Extraordinary General Shareholders Meeting on November 21 in order to approve the integration activity of Crescendo International and the issuance of new non-convertible bonds.
The announcement shows that the executives are asking for the Approval of the business transfer representing the entire IT&C integration activity of Crescendo International to Dendrio Solutions – a wholly-owned company of Bittnet Systems under the conditions described.
Also, it seeks the approval of the issuance of non-convertible corporate bonds and the authorization of the Company’s Administrator for the period between the date of publication of the decision of the EGMS in the Official Gazette of Romania Part IV and the date of December 31 to decide one or more bond issues in EURO, up to EUR 10 million each bond being issued with a nominal value of EUR 100 per bond, with a maturity of at least 3 and a maximum of 5 years, with an annual interest rate of no more than 9 percent per annum. Administrator has the mandate to decide the timeliness of each issue and its final details, as well as to sign any documents relating to each bond issue including the type of placement (public or private), the publishing of issuance prospectuses, or any necessary documents for listing the bonds on the relevant market of the Bucharest Stock Exchange (BVB), as well as any other documents that could be concluded in connection with the issue and the fulfillment of this decision.
The shareholders will decide to approve the admission of the shares issued by the Company to trading on the Regulated Market administered by the BVB. It mandates the company’s administrator to establish the date, structure and terms of listing (through secondary public offering or through technical listing) and generally perform all necessary steps and formalities required by any institution, including the Financial Supervisory Authority, the Bucharest Stock Exchange, The Central Depository, the Trade Register, etc. to carry out the decision thus adopted.
Another waited decision for the shareholders will be the approval of the empowerment of the company’s administrator, Mihai Logofatu to carry out acts that are capable of employing the Company within the limit of RON 25 million to guarantee any banking and / or financing products contracted by its affiliates from banking institutions, credit institutions and / or other financial institutions banking or non-banking, as requested by that institution. The company’s administrator will decide, conclude and sign any documents on guarantees of any kind granted by the company to its affiliates.