pbt raises us$3.7 million through exercise of 9.5 Prana...

pbt raises us$3.7 million through exercise of 9.5 Prana Biotechnology Raises US$3.7 Million Through
Exercise of 9.5 Million Options
Melbourne, Australia – December 8, 2004: Prana Biotechnology Limited (NASDAQ:
PRAN, ASX: PBT), today announced that 9.5 million unlisted options expiring on
December 1, 2004 were exercised prior to the expiry date. The options were originally
largely owned by certain insiders and directors of the company then transferred to new
owners, who in turn exercised them at a price of A$0.50 per share.
“We are pleased to receive this vote of confidence in Prana Biotechnology,” said Jon
Alsenas, CEO. “The US$3.73 million (A$4.75 million) raised will be used as working
capital for general corporate purposes. This includes conducting the potentially pivotal
PLACQUE study of PBT-1 in Alzheimer’s disease that is due to start in the first half of
2005.”
Prana Biotechnology had 117,384,155 ordinary shares outstanding as of 2 December
2004, and this exercise of options increases the total issued shares to 126,890,821.
About Prana Biotechnology Limited
Prana Biotechnology was established to commercialise research into Alzheimer's
disease and other major age-related degenerative disorders. The company was
incorporated in 1997 and listed on the Australian Stock Exchange in March 2000 and
listed on NASDAQ in September 2002. Researchers at prominent international
institutions including the University of Melbourne and Massachusetts General Hospital, a
teaching hospital of Harvard Medical School, discovered Prana’s technology.
For further information, please visit our web site at www.pranabio.com.
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For further information:
Rebecca Piercy
Buchan Communications
Ph: 02 9237 2803 or 0422 916 422
Email: [email protected]