Ann: Revised Payment Arrangements with DIAsource Vendors, page-10

Revised Payment Arrangements for DIAsource Immunoassays SA (DIAsource)

13 July 2017

Anteo Diagnostics Limited (ASX: ADO) (Company) wishes to announce that revised payment arrangements have been reached with the vendors of DIAsource.

Under the revised arrangements:

• If payment is made on or before 31 July 2017 then, in accordance with previously agreed arrangement 15% of the Earn-Out payment is payable in equity in Anteo and the payment program will continue in accordance with the DIAsource Share Purchase Agreement.
  
  
• If payment is made after 31 July 2017, then:▪ the equity component of the Earn-Out reduces to 5%; and▪ all payments to the vendors under the DIAsource Share Purchase Agreement
  
  (including the Earn-Out Payment and the full balance of the purchase price) are to be made by 2 October 2017.
  
  
• As from 12 July 2017 the Earn-Out payment will attract interest at 8% per annum.
  
  “The Company has been working co-operatively with the DIAsource vendors, and the extension of the payment date with the vendors allows all current financing options to be pursued to ensure that Anteo meets its commitments to the vendors and has adequate working capital for the future” said Dr John Hurrell, Chairman. He added “The Board is working closely with a European based adviser to deliver the best result for these activities. On the basis of a successful outcome of the financing options, the Board has commenced a review the Anteo technology and is exploring alternatives around structuring the business to best deliver on that technology.”