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Active Biotech calls for premature repayment of convertible loan

2007-02-15

Over a period of 30 trading days after January 1, 2007, the average of the closing prices listed for the company's shares has been at least 130% of the conversion price, which, adjusted according to the recently concluded new share issue is
37.42 SEK. Thereby the formal conditions for premature repayment are fulfilled.
Since the share price currently is significantly higher than the conversion rate, it is the opinion of the Board of Directors that it is in the interests of the holders of the convertible debentures to instead exercise their right to request conversion to shares.
If the holders of the convertible debentures do not wish to convert their shares, the company will, on March 27, 2007, repay the nominal amount, i.e. SEK 40 per convertible debenture.
In the event of full conversion, the number of shares in the company will increase by a maximum of 3,352,905. If the shares added (4 million shares) as a result of the just recently fully subscribed and completed new share issue are also taken into account, Active Biotech AB will have a total of 47,352,905 shares outstanding. Accordingly, the shares added as a result of conversion represent a dilution of 7.1%.
The company's principal shareholder, MGA Holding AB, which holds approximately 63% of the convertible debentures outstanding, has informed the company of its intention to convert its receivable to shares.
Timetable:
- Deadline for requesting conversion for persons who do not wish to receive repayment: 3:00 p.m. on March 19, 2007
- Record day for the right to receive repayment: March 20, 2007
- Repayment date: March 27, 2007
The application form for requesting conversion is available at www.activebiotech.com under Investor info/Official documents. The application form should be completed and sent to Bankaktiebolaget Avanza.
Lund, February 15, 2007
Active Biotech AB (publ)
Sven Andréasson
President & CEO
Active Biotech AB is a biotechnology company focusing on research and development of pharmaceuticals. Active Biotech has a strong R&D portfolio with pipeline products focused on autoimmune/inflammatory diseases and cancer. Most advanced projects are laquinimod, an orally administered small molecule with unique immunomodulatory properties for the treatment of multiple sclerosis, as well as ANYARA for use in cancer targeted therapy, the primary indication being renal cancer. Further key projects in clinical development comprise the three orally administered compounds TASQ for prostate cancer 57-57 for SLE and RhuDex® for RA. In addition, the preclinical development of the I-3D project is being conducted in cooperation with Chelsea Therapeutics.

Active Biotech AB (org.nr 556223-9227)
P.O. Box 724, SE-220 07 Lund, Sweden
Tel +46 46 19 20 00
Fax +46 46 19 20 50

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