GSK capital increase

Within the scope of a strategic partnership to develop and commercialize innovative needle-free patch-based vaccines concluded in December 2009, GlaxoSmithKline Biologicals SA (GSK) has committed to subscribe for 900,000 newly issued Intercell shares at a price of EUR 31.21 per share, resulting in an investment of EUR 28 million. In order to effect the GSK capital investment, Intercell's management board has resolved, subject to the approval of the supervisory board, to issue 900,000 new shares of common stock to GSK and to exclude the subscription rights of existing shareholders.
According to Austrian law, a report on the exclusion of the statutory subscription rights has been published on December 12, 2009, which can be downloaded below: