Corporate | 6 February 2012 06:45
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Cytos Biotechnology AG / Key word(s): Miscellaneous
Schlieren (Zurich), Switzerland, February 6, 2012 – Cytos Biotechnology Ltd ('Cytos') today announced that the superior composition authority of creditors of the canton of Zurich ('Obere Kantonale Nachlassbehörde') has ruled on February 3, 2012 that all five resolutions of the bond restructuring proposed on November 10, 2011 to the bondholders and submitted to the court on December 22, 2011 are approved. They become valid and binding within thirty days unless an appeal is filed with the Federal Court. Upon completion of the convertible bond restructuring, going concern of Cytos is ensured thereby enabling the continued search for a sustainable strategic solution. Since February 3, 2012 the SIX Swiss Exchange has suspended trading of Cytos' convertible bonds due to technical reasons. Trading is expected to continue on Friday, February 10, 2012 on a 'flat basis', which means that the accrued interest is included in the quoted price.
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About Cytos Biotechnology Ltd
This foregoing press release may contain forward-looking statements that include words or phrases such as 'are intended for', 'are designed to', 'is expected' or other similar expressions. These forward-looking statements are subject to a variety of significant uncertainties, including scientific, business, economic and financial factors, and therefore actual results may differ significantly from those presented. There can be no assurance that any further therapeutic entities will enter clinical trials, that clinical trial results will be predictive for future results, that therapeutic entities will be the subject of filings for regulatory approval, that any drug candidates will receive marketing approval from the U.S. Food and Drug Administration or equivalent regulatory authorities, or that drugs will be marketed successfully. Against the background of these uncertainties readers should not rely on forward-looking statements. The company assumes no responsibility to update forward-looking statements or adapt them to future events or developments. This document does not constitute an offer or invitation to subscribe or purchase any securities of Cytos Biotechnology Ltd. End of Corporate News 06.02.2012 News transmitted by EquityStory AG. The issuer is responsible for the contents of the release. EquityStory publishes regulatory releases, media releases on the capital market and press releases. The EquityStory Group distributes authentic and real-time financial news for over 1’300 listed companies. The Swiss news archive can be found at http://www.equitystory.ch/nachrichten |
| Language: | English | |
| Company: | Cytos Biotechnology AG | |
| Wagistr. 25 | ||
| 8952 Schlieren | ||
| Switzerland | ||
| Phone: | +41 44 733 4747 | |
| Fax: | +41 44 733 4740 | |
| E-mail: | info@cytos.com | |
| Internet: | www.cytos.com | |
| ISIN: | CH0011025217, CH0029060735 | |
| Swiss Security Number: | – | |
| Listed: | Freiverkehr in Berlin, München, Stuttgart; Open Market in Frankfurt; SIX | |
| End of News | EquityStory AG News-Service |
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| 155430 06.02.2012 |