FIT Biotech Oy
Company release January 18, 2018 at 10:00 AM EET
Conversion of FIT Biotech Oy's Convertible Capital Notes into shares
Related to Convertible Note and Warrant Programmes established on September 26, 2016 between the FIT Biotech Oy ("Company") and Bracknor Investment ("Bracknor") the Company's Board of Directors have resolved on January 17, 2018 to approve Bracknor's request relating to the funding programme to convert EUR 50,000 worth of Convertible Capital Notes into the Company's K shares.
Due to the conversion of the Convertible Capital Notes, the Company transfers 9,049,773 K shares owned by the Company to Bracknor with the conversion price of EUR 0.005525 per share and the reserve for invested unrestricted equity of the Company will be increased by EUR 50,000.00. The Board authorization is based on Extraordinary General Meeting December 14, 2017.
The K shares will be admitted to trading on First North Finland on or about January 19, 2018.
FIT BIOTECH OY
Board of Directors
For further information:
Chairman of the Board of Directors Rabbe Slätis
Certified Advisor: Aalto Capital Partners Oy, tel. +358 40 587 7000
About FIT Biotech
FIT Biotech Oy is a biotechnology company established in 1995. The company develops and licenses its patented GTU® (Gene Transport Unit) vector technology for new-generation medical treatments. GTU® is a gene transport technology that meets an important medical challenge in the usability of gene therapy and DNA vaccines.
FIT Biotech applies GTU® technology in its drug development programmes. Application areas include cancer (gene therapy) and infectious diseases such as HIV and tuberculosis, as well as animal vaccines.
FIT Biotech shares are listed on the First North Finland marketplace maintained by Nasdaq Helsinki Oy.
NASDAQ OMX Helsinki