EPSOM INVESTMENT SERVICES N.V.
EPSOM
INVESTMENT SERVICES N.V.
CP 261,
10 route de l’aeroport
1215
Geneva 15
Switzerland
By fax: x00-00
0000000
31st
December 2007
Dear
Sirs,
Further to our discussions Epsom
Investment Services hereby agree to convert $1,259,697 of the outstanding credit
facility into 4,198,990 shares at the current market price of $0.30
cents. Please note that Epsom Investment Services will be
charging CalciTech Ltd a conversion and facility fee of 5% of
$1,259,697. Please be instructed to insure that these shares
are issued to us forthwith.
We also
confirm that we will maintain the facility at $2.5 million, extend the repayment
date to 31st August
2009, and increase the interest charge to 8.5%.
Whilst
writing, I can confirm the balance due from CalciTech Ltd under the credit
agreement, as at 31 December 2007, amounted to USD 1,630,052.69. This
balance includes all interest charges up to 31st
December 2007.
If you require and further information,
please do not hesitate to contact me.
Yours
faithfully,
Xxxxx
Xxxxxx
Director
for and
on behalf of Epsom Investment Services N.V.
Registered Office: PO Box 000,
Xxxx xxxxxx Xxxxxxxxxx, XXXXX
Administrative office: PO Box
254 1215 Geneva 15 Switzerland
Tel.
(x00) 00 000 0000 Fax (x00) 00
000 0000
