13.03.2015 – 07:08

Cytos Biotechnology AG

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

EQS Group-Ad-hoc: Cytos Biotechnology AG / Key word(s): Bond
Cytos Biotechnology AG: The Higher Court of the Canton of Zurich
approves the conversion of the convertible bonds into shares

13.03.2015 / 07:00
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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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

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13.03.2015 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:      Regulated Unofficial Market in Berlin, Munich, Stuttgart;
             Open Market in Frankfurt ; SIX


End of News    EQS Group News-Service
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