The loan agreement was signed by Dendrio Solutions, part of the Bittnet Group, for seven years, with monthly repayments on the principal and interest. The annual interest rate is variable and made up of the six-month ROBOR plus a fixed margin of the bank of 2.5%.
The guarantees established for this loan are mortgage on Dendrio Solutions accounts at ProCredit Bank, mortgage on Dataware shares acquired by Dendrio Solutions (51.13%), guarantee from the Group, guarantee issued by the European Investment Fund in proportion of 60%, collateral cash deposit for the amount of RON 2,500,000.
Also, Bittnet informed about the signing of all closing procedures and supporting documents for the acquisition of 70% of Dataware and signing the necessary documents in order to register the new shareholder structure at the Trade Registry Office on May 19, 2023.
After that, the new shareholder structure of Dataware will be as follows: Dendrio – 51.13%, Bittnet Systems – 18.87%, the cofounders of Dataware – 30% (equally shared ownership between the two cofounders). The transaction price also includes a settlement in Bittnet shares, which will be allocated to the two cofounders of Dataware in a future capital increase operation.
(English version by Loredana Fratila-Cristescu)