Ann: Board statement re Ramcap Ltd, page-3

https://www.asx.com.au/asxpdf/20200403/pdf/44gp9g8wdchzdc.pdf

Brisbane 3rd April 2020: Factor Therapeutics (ASX:FTT, the “Company”, a biotechnology company, advises that it has been made aware of a notice on the RAMcap Ltd (RAMcap) website indicating that it has made a JV proposal to Factor Therapeutics.

The Company has not entered into any agreement with RAMcap. The company has received preliminary information as to a proposal from RAMcap however this information is high level and insufficient for Factor to respond to other than to request further detailed information. Based on the information received to date the company would not recommend this proposal to shareholders.

https://ramcap.com.au/2020/04/02/ramcap-directors-makes-jv-offer-to-ftt/

RAMCAP MAKES JV OFFER TO FTT



APRIL 2, 2020


Factor Therapeutics [FTT] faces an uncertain future as a biotech company in these challenging times.
RAMcap has submitted to FTT directors a JV proposal. The JV terms comprise:
.

• Replacement of the FTT board at the AGM by RAMcap’s directors.
• Capital reduction of at least $2.08million = 0.2cents+ per FTT share.
• Formation of a new company, equally owned by RAMcap and FTT which will enter the hedge fund manager business by offering units in the RAMcap Hedge Fund.
• New JV Fund will be managed by the investment committee of RAMcap. It will incorporate the investment strategies now in deployment in the  RAMcap ‘REDP’ portfolio which limits portfolio leverage to 2Xtimes. (The REDP portfolio has outperformed in March the benchmark XSOA index by 12.2%)

RAMcap CEO Mr Richard Matthews has written to FTT shareholders to elaborate the proposal.
A Q&A teleconference will be conducted at 8:00pm on Thursday 9th April.