Mergers and Acquisitions

* On April 30, 2013, ChronTech Pharma has announced that it has received extended offer from a group of shareholders. An extra general meeting on the 19th of April 2013 resolved to accept that a group of shareholders acquire a percentage of approximately 70 per cent of the Company’s projects regarding development of DNA

vaccines against hepatitis B and hepatitis C. The group of shareholders has now offered to acquire the entire, i.e. also the remainder 30% and not only approximately 70% of the Company’s project regarding development of DNA vaccines against hepatitis B and hepatitis C. The purchase consideration now also includes a deferred consideration of 1 MUSD. The proposal also includes the funding of the development of the IVIN DEVICE for use in combination with hepatitis vaccines up to US$1,500,000 on the development of the IVIN DEVICE in exchange for an exclusive license for use with hepatitis vaccines.

An EGM will be summoned to let the shareholders decide about the above. Shareholders representing more than 60 per cent of the shares in the Company have declared that they will support this new proposal for the reconstruction of the Company.