DGAP-News: Bond restructuring final and binding. Going concern of Cytos ensured.
(firmenpresse) - EquityStory AG-News: Cytos Biotechnology AG / Key word(s):
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Bond restructuring final and binding. Going concern of Cytos ensured.
13.03.2012 / 07:00
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Schlieren (Zurich), Switzerland, March 13, 2012 - Cytos Biotechnology Ltd
('Cytos') today announced that the convertible bond restructuring approved
by the superior composition authority of creditors of the canton of Zurich
('Obere Kantonale Nachlassbehörde') has become valid and binding
('rechtskräftig'). The implementation of the bond restructuring is underway
and the nominal value reduction in form of a payment of CHF 2,500 for each
convertible bond of CHF 5,000 will be effected on March 20, 2012. As
already announced Cytos will cancel treasury bonds in a total nominal
amount of CHF 31,255,000.
Harry Welten, Chief Financial Officer of Cytos said: 'The successful bond
restructuring enables Cytos to remain a going concern and therefore
facilitates a potential value maximization of Cytos' lead.'
Additional information can be downloaded from
http://www.cytos.com/bondrestructuring.
For further information please contact:
Cytos Biotechnology Ltd
Harry Welten
Chief Financial Officer
Tel.: +41 44 733 46 46
e-Mail: harry.welten(at)cytos.com
Website: www.cytos.com
About Cytos Biotechnology Ltd
Cytos Biotechnology Ltd is a Swiss public biotechnology company that
specializes in the discovery, development and commercialization of a new
class of biopharmaceutical products - the Immunodrugs(TM). Immunodrugs(TM)
are intended for use in the treatment and prevention of common chronic
diseases, which afflict millions of people worldwide. Immunodrugs(TM) are
designed to instruct the patient's immune system to produce desired
therapeutic antibody or T cell responses that modulate chronic disease
processes. The Immunodrug(TM) candidates are developed both in-house and
together with Novartis, Pfizer and Pfizer Animal Health. Founded in 1995 as
a spinoff from the Swiss Federal Institute of Technology (ETH) in Zurich,
the Company is located in Schlieren (Zurich). Cytos Biotechnology Ltd is
listed on the main segment at the SIX Swiss Exchange (SIX:'CYTN').
This foregoing press release may contain forward-looking statements that
include words or phrases such as 'will', 'are intended for', 'are designed
to', 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---------------------------------------------------------------------
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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(at)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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160235 13.03.2012
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Datum: 13.03.2012 - 07:00 Uhr
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News-ID 124000
Anzahl Zeichen: 20349
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