GTC Biotherapeutics (fka GTCB)

[DewDiligence]

Re: LFB’s equity stake

Until 2013, 14.6M shares, which represents 80% of LFB’s total GTCB equity stake of 18.2M shares, will be in the form of unregistered, preferred shares. There is no market for these preferred shares and hence they cannot be traded.

The only GTCB shares owned by LFB that could be possibly be sold before 2013 are the 3.6M common shares LFB will acquire in the third financing tranche. However, these shares will undoubtedly be subject to a lockup provision that would have to expire or be waived by GTC in order for the shares to be registered and resold.

In short, the insinuation by another poster that LFB would try to unload its GTCB shares at the earliest possible moment is patently ridiculous.