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2016-12-08

PCI Biotech: Rights issue approved by the extraordinary general meeting

Oslo 8 December, 2016. An extraordinary general meeting (the "EGM") of the
shareholders of PCI Biotech Holding ASA ("PCI Biotech") was held today, 8
December 2016 at 09:00 CET. 8,527,123 shares were represented at the meeting,
corresponding to 57.2 percent of the share capital.

The EGM approved the Board of Directors' proposed resolutions as set forth in
the notice of the EGM issued on 17 November 2016. Compared to the notice of
the extraordinary general meeting, the Board of Directors proposed at the
general meeting to revise the payment date in the rights issue from 12 to 16
January 2017, which amended proposal was resolved by the general meeting.

The PCI Biotech share will, for trades subject to the ordinary T+2 settlement
in the Norwegian Central Securities Depository (VPS), consequently trade
exclusive of the right to receive subscription rights in the rights issue
from and including tomorrow, 9 December 2016. Detailed terms of the rights
issue will be included in the prospectus, expected to be published on or
about 14 December 2016.

The minutes of the EGM are attached, and are also available
onwww.pcibiotech.com.

In PCI Biotech's stock exchange announcement dated 17 November 2016, the
Company communicated certain expected dates relative to the completion of the
guaranteed rights issue, of which some dates, upon further assessment, must
be extended in time. Given the current timetable, as will be communicated by
the Company in detail in the prospectus, the Company expects that the
allocation date, whereby allocations in the rights issue will be made and
notified to the subscribers, will be on or about 10 January 2017, payment
date for the subscription amounts will be on 16 January 2017 (as referenced
above) and the registration of the share capital increase in the Norwegian
Register of Business Enterprises will be completed on or about 20 January
2017.

Contact information:
Ronny Skuggedal, CFO, rs@pcibiotech.no, Mobile: +47 9400 5757
For more information visit:www.pcibiotech.com

Contact information: PCI Biotech Holding ASA, Ullernchausséen 64, N-0379 Oslo

Important Notice
The contents of this announcement have been prepared by, and are the sole
responsibility of, the Company. The Company's financial advisors are acting
exclusively for the Company and no one else, and will not be
responsible to anyone other than the Company for providing the
protections afforded to their respective clients, or for advice in relation
to the Rights Issue, the contents of this announcement or any of the
matters referred to herein. The Rights Issue and the distribution of this
announcement and other information in connection with the Rights Issue may be
restricted by law in certain jurisdictions. The Company assumes no
responsibility in the event there is a violation by any person of such
restrictions. Persons into whose possession this announcement or such other
information should come are required to inform themselves about, and to
observe, any such restrictions.

The Rights Issue will not be made in any jurisdiction or in any circumstances
in which such offer or solicitation would be unlawful. This announcement is
not for distribution, directly or indirectly in or into any jurisdiction in
which it is unlawful to make any such offer or solicitation to such person or
where prior registration or approval is required for that purpose. No steps
have been taken or will be taken relating to the Rights Issue in any
jurisdiction outside of Norway in which such steps would be required. Neither
the publication and/or delivery of this announcement shall under any
circumstances imply that there has been no change in the affairs of the
Company or that the information contained herein is correct as of any date
subsequent to the earlier of the date hereof and any earlier specified date
with respect to such information.

This publication is not for distribution, directly or indirectly, in or into
the United States, nor is it an offer for sale of or the solicitation of an
offer to purchase securities in the United States. Any securities referred to
herein have not been registered under the U.S. Securities Act of 1933, as
amended (the "U.S. Securities Act"), and may not be offered or sold in the
United States absent registration or pursuant to an exemption from
registration under the U.S. Securities Act. Copies of this publication are
not being, and may not be, distributed or sent into the United States.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

PCI Biotech Minutes EGM 8 Dec 2016
http://hugin.info/139147/R/2062972/774076.pdf

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This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: PCI Biotech Holding via Globenewswire

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