Ad-hoc | 13 March 2015 07:00

Cytos Biotechnology AG: The Higher Court of the Canton of Zurich approves the conversion of the convertible bonds into shares

Cytos Biotechnology AG / Key word(s): Bond

2015-03-13 / 07:00
Release of an ad hoc announcement pursuant to Art. 53 KR.
The issuer is solely responsible for the content of this announcement.

The Higher Court of the Canton of Zurich approves the conversion of the convertible bonds into shares

Schlieren (Zurich), Switzerland, March 13, 2015 – Cytos Biotechnology Ltd (“Cytos”) today announced that the superior composition authority of creditors of the canton of Zurich (“Obere Kantonale Nachlassbehörde”) has ruled that the sole resolution of the bond restructuring proposed on January 26, 2015 to the bondholders and submitted to the court on February 2, 2015 is approved. The approval becomes valid and binding within thirty days unless an appeal is filed with the Federal Court. The conversion of the bonds into 77.49 million shares will take place in the second half of April 2015 provided that the extraordinary shareholders’ meeting on March 16, 2015 approves the capital increase with two thirds of the votes present or represented at the meeting. After the conversion, a total of around 108 million shares will be issued and outstanding.

From the original payment obligations of CHF 22.2 million from the convertible loan notes, CHF 2 million have been reduced via exchange of loan notes with convertible bonds. The non-subordinated part of CHF 14.2 million has been repaid at maturity. As a result, the outstanding payment obligation towards the loan note holders amounts to CHF 6 million which continues to be subordinated. Cash and cash equivalents per the end of February 2015 amount to around CHF 3.4 million.

For further information, please contact:

Cytos Biotechnology Ltd
Harry Welten, MBA
Chief Financial Officer
Tel: +41 44 733 46 46
harry.welten@cytos.com

About Cytos Biotechnology Ltd

Cytos is a public biopharmaceutical company located in Schlieren (Zurich), Switzerland. The Company is listed according to the Main Standard on the SIX Swiss Exchange Ltd under the symbol CYTN.

Forward Looking Statements
This media release contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. You are urged to consider statements that include the words “will” or “expect” or the negative of those words or other similar words to be uncertain and forward-looking. Factors that may cause actual results to differ materially from any future results expressed or implied by any forward-looking statements include scientific, business, economic and financial factors, Against the background of these uncertainties, readers should not rely on forward-looking statements. The Company assumes no responsibility for updating forward-looking statements or adapting them to future events or developments.

www.cytos.com

End of ad hoc announcement

+++++
Additional features:

Document: http://n.equitystory.com/c/fncls.ssp?u=FTEWIPGWPF
Document title: Cytos_verdict_court_150312

2015-03-13 News transmitted by EQS Schweiz AG. www.eqs.com – news archive: http://switzerland.eqs.com/de/News

The issuer is responsible for the contents of the release.

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
Valor:	–
Listed:	Regulated Unofficial Market in Berlin, Munich, Stuttgart; Open Market in Frankfurt ; SIX

End of News EQS Group News-Service

332845  2015-03-13