Monday, May 4, 2015

BRIEF-Cytos Biotechnology says restructuring proposal valid and binding

<span id="midArticle_start"/>May 4 (Reuters) - Cytos Biotechnology AG :

<span id="midArticle_0"/>* Will become debt-free

<span id="midArticle_1"/>* Restructuring proposal final and binding to convert allbonds into equity

<span id="midArticle_2"/>* Settlement with loan note holders eliminates all claimsfrom loan notes

<span id="midArticle_3"/>* Will make a final payment of around 4.4 million Swissfrancs ($4.71 million) to loan notes holders once it hasreceived 4 million francs from Novartis for buy-out of CAD106 aswell as some payments from OnCoreSource text for Eikon: Further company coverage: ($1 = 0.9334 Swiss francs) (Gdynia Newsroom)

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