Perth, Australia. Friday 24 March 2006: Solbec (ASX: SBP) advises it is to implement a Share Purchase
Plan providing opportunity to eligible shareholders to purchase additional shares in Solbec and in
some instances increase their holdings to a marketable parcel. Shares are being offered under the Plan at 8.5 cents per share which represents a 12% discount to the
volume weighted average price of Solbec shares trading on ASX during the 30 days prior to 22 March
2006. Shareholders entitled to participate in the Plan are those with a registered addresses in either
Australia or New Zealand at the Record Date of 27 March 2006. Under the Plan, eligible shareholders are entitled to purchase up 58,000 shares under one of the
following three options:
No of Shares Subscription Price at 8.5 cents per Share
58,000 $4,930
30,000 $2,550
12,000 $1,020
The funds will be used for Solbec’s Coramsine® Phase II cancer clinical trials targeting late stage
renal cell carcinoma and malignant melanoma. The offer opens on 27 March 2006 and closes 28 April 2006. Eligible shareholders should receive a formal letter of offer and the terms and conditions of the
Plan, together with a personalised application form in the week commencing 27 March 2006.. Page 1 Solbec/Share Purchase Plan/ASX Release 24-3-06 The Directors are pleased to offer shareholders the opportunity to participate in the development of
the Company and further trials of Coramsine®. (end)
Further information: David Sparling Business Development Manager Tel: (08) 9446 7555 Mob: 0417721972 Email: [email protected] About Solbec Solbec Pharmaceuticals Ltd identifies naturally-occurring compounds with potential in the development
of better therapies for debilitating conditions and life-threatening diseases. The company is
currently progressing its key project, Coramsine®, through Phase I/IIA clinical trials for the
treatment of advanced solid tumours; and as a topical treatment for psoriasis. The Australian Phase II
cancer trials will be partly funded by a $2.26M Australian Government Commercial Ready grant awarded
to Solbec in December 2005. The two proprietary ingredients of Coramsine® were isolated from the
fruit of a weed known as the Devil’s Apple (Solanum linnaeanum). They show activity against some
cancers and cause potentially therapeutic changes to the immune system. In addition to human health,
Coramsine® has potential application to animal health and diagnostics. Solbec’s business strategy is
to partner or out-license Coramsine® for the final stages of pre-commercial development and marketing. www.solbec.com.au Page 2 Solbec/Share Purchase Plan/ASX Release 24-3-06
SBP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
