VRDT Corporation (OTCPK:VRDT) entered into a definitive agreement to acquire 56.6% stake in Lithium Technology Corp. (OTCPK:LTHU) from Arch Hill Capital N.V., Stichting Gemeenschappelijk Bezit Aandelen PAG Holding for $27.4 million in stock on December 14, 2012. Arch Hill Capital N.V. and Stichting Gemeenschappelijk Bezit Aandelen PAG Holding together own 56.6% stake in Lithium Technology. Pursuant to the agreement, Arch Hill and other sellers will obtain a 26.43% ownership interest in VRDT Corporation. The transaction is subject to third party consents and is expected to close by January 10, 2013.

VRDT Corporation (OTCPK:VRDT) cancelled the acquisition of 56.6% stake in Lithium Technology Corp. (OTCPK:LTHU) from Arch Hill Capital N.V., Stichting Gemeenschappelijk Bezit Aandelen PAG Holding on January 23, 2013. The transaction was cancelled as shareholders of Arch Hill Capital exercised the right to first refusal.