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    EQS-Adhoc  445  0 Kommentare Cytos Biotechnology AG: Bondholders' meeting approves conversion of bonds into shares with overwhelming majority


    EQS Group-Ad-hoc: Cytos Biotechnology AG / Key word(s): Miscellaneous
    Cytos Biotechnology AG: Bondholders' meeting approves conversion of
    bonds into shares with overwhelming majority

    26.01.2015 / 14:23
    Release of an ad hoc announcement pursuant to Art. 53 KR.
    The issuer is solely responsible for the content of this announcement.

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    Media Release

    Bondholders' meeting approves conversion of bonds into shares with
    overwhelming majority

    - Far more than the required two thirds of the bonds approve the
    conversion, namely around 84%

    - Major hurdle for continued going concern of Cytos taken

    - Reduction of the remaining debt by CHF 2 million

    Schlieren (Zurich), Switzerland, 26 January 2015 - Cytos Biotechnology Ltd.
    ("Cytos") today announced that its bondholders have approved the conversion
    of the bonds with far more than the required quorum, namely 83.96% of all
    outstanding bonds eligible for voting. This resolution will be submitted to
    the superior composition authority of creditors of the canton of Zurich
    ("Obere Kantonale Nachlassbehörde") for approval. Cytos will convene a
    shareholders meeting to create the shares necessary for the conversion. A
    two third majority of the shares represented will be required at the
    shareholder meeting for the ordinary capital increase.

    In addition, Cytos announced today, that loan notes with a nominal amount
    of CHF 2 million were exchanged with convertible bonds with a nominal value
    of CHF 4 million. The applicable price for the convertible bonds of 50%
    corresponds to the volume weighted average price since the announcement of
    the restructuring on 6 January 2015. Due to the mandatory conversion of the
    bonds into newly created shares, the remaining debt of Cytos will be
    reduced by CHF 2 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

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    26.01.2015 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.

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    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: Freiverkehr in Berlin, München, Stuttgart; Frankfurt in
    Open Market ; SIX


    End of News EQS Group News-Service
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    316349 26.01.2015


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    EQS-Adhoc Cytos Biotechnology AG: Bondholders' meeting approves conversion of bonds into shares with overwhelming majority EQS Group-Ad-hoc: Cytos Biotechnology AG / Key word(s): Miscellaneous Cytos Biotechnology AG: Bondholders' meeting approves conversion of bonds into shares with overwhelming majority 26.01.2015 / 14:23 Release of an ad hoc announcement pursuant to …

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