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Friday 23 December, 2005

AIM

Sch 1 - Greenchip Investments

AIM
23 December 2005


          ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH AIM RULE 2

ALL APPLICANTS MUST COMPLETE THE FOLLOWING:

COMPANY NAME:
Greenchip Investments plc

COMPANY ADDRESS:
22 Melton Street, London

COMPANY POSTCODE:
NW1 2BW

COUNTRY OF INCORPORATION:
England

COMPANY BUSINESS OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTMENT STRATEGY TO BE DISCLOSED IN
ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (J) OF THE AIM RULES:
In the Company's circular to its shareholders dated 20 October 2000 applying for admission to trading on AIM, the
stated principal goal and investment strategy of the Company was to bring into European markets,
technology-driven business ventures, with a particular focus on life science, environmental technology and
internet related technologies. In response to the changes to the AIM Rules relating to investment strategies, at
the Extraordinary General Meeting held on 2 June 2005, the Company's new investment strategy was fully reaffirmed
by its shareholders. One of the main features of the strategy was to seek to invest in a company (or companies)
whose business was in the natural resources, financial or healthcare sectors. Investee companies were likely to
be located in the UK, the Eurozone, Australasia and/or North America and there was a clear preference to find a
single primary investment in one of the sectors outlined above.


The current directors believe that in Lipoxen Technologies Limited ('Lipoxen'), they have identified an
acquisition opportunity that satisfies their investment criteria and provides significant prospects to grow
shareholder value.



As such, the Company has conditionally agreed to acquire the entire issued share capital of Lipoxen for a
consideration to be satisfied by the issue of 66,666,665 million new Ordinary Shares to the shareholders of
Lipoxen. The Consideration Shares are to be issued on the following basis: 1.3565787  Greenchip ordinary share
for every 1 Lipoxen ordinary share held.



Lipoxen is a company engaged in the development of drug delivery systems and proprietary products in the fields
protein drugs, vaccines and oncology.  Lipoxen is exploiting its proprietary delivery technologies to create a
new generation of drug and vaccine products with improved performance.  In pre-clinical studies for protein drug
delivery, Lipoxen's PolyXen technology has shown to impart protection from degradation and improve active
lifetime in circulation.  In pre-clinical studies relating to vaccine delivery, Lipoxen's ImuXen technology is
being used to develop products that have shown increased immune responses and protection against infection.  In
pre-clinical studies for oncology drug delivery , Lipoxen's VesicAll technology is being used to develop products
with reduced toxicity and greater convenience of use. Lipoxen is engaged in the out-licensing of these
technologies to biopharmaceutical companies that have strong manufacturing and marketing capabilities.  These
companies are incorporating Lipoxen's technologies into human theraputic product candidates.  Lipoxen's market
strategy is to focus on product development, in collaboration with major biotech  and pharmaceutical company
partners, for the protein, vaccine and oncology drug markets.

DETAILS OF SECURITIES TO BE ADMITTED (i.e. where known, number of shares, nominal value and issue price to which
it seeks admission and the number and type to be held as treasury shares):
102,966,665 Ordinary Shares of 0.5 p each (including 8,300,000 Ordinary Shares of 0.5p each already listed)

CAPITAL TO BE RAISED ON ADMISSION:
Placing of 28,000,000 Ordinary shares to raise gross proceeds of £3.78 million

FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS:
Current directors:
Malcolm Alex Burne
Colin William Hill, Chairman
Dr Giap Wang Chong


Proposed directors:
Sir Brian Mansel Richards CBE, Non-executive director
Scott Maguire, Chief Executive Officer
Professor Gregory Gregoriadis, Non-executive director
Dr Dmitry Dmitrievich Genkin, Non-executive director
Dr Tatiana Zhuravskaya, Non-executive director

PERSON(S) INTERESTED IN 3% OR MORE OF THE ISSUER'S CAPITAL, EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL
BEFORE AND AFTER ADMISSION:
Before admission:

HSBC Global Custody Nominee (UK) Ltd A/C 813259 (27.42%)
Halb Nominees Limited A/C 044276 (20.06%)
Pershing Keen Nominees Limited A/C AGCLT (17.60%)
Nortrust Nominees Limited A/C N0P01 (4.82%)
Aran Asset Management SA (4.52%)
Dr Giap Wang Chong (4.52%)
Smith & Williamson Nominees Limited (3.04%)
State Street Nominees Limited (3.01%)
Malcolm A Burne (3.60%)


After admission:

FDS Pharma ASS (44.53%)
Gregory Gregoriadis (5.4%)
Walbrook Trustees (Jersey) Ltd (4.08%)
Path Property Limited (3.34%)
TBD


NAMES AND ADDRESSES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:
None (save as disclosed in the Company's admission document and trade suppliers)

ANTICIPATED ACCOUNTING REFERENCE DATE:
31 December

EXPECTED ADMISSION DATE:
17 January 2006

NAME AND ADDRESS OF NOMINATED ADVISER:
Grant Thornton Corporate Finance, Grant Thornton House, Melton Street, Euston Square, London NW1 2EP.

NAME AND ADDRESS OF BROKER:
Canaccord Capital (Europe) Limited, 1st Floor, Brook House, 27 Upper Brook Street, London, W1K 7QF.

DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT
THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:
Copies of the admission document, which will contain full details about the Company and the admission of its
securities, will be available to the public for one month after admission at Grant Thornton Corporate Finance,
Grant Thornton House, Melton Street, Euston Square, London NW1 2EP.

DATE OF NOTIFICATION:
23 December 2005

NEW/ UPDATE (see note):
New.




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