VRDT Corporation entered into a definitive agreement to acquire 56.6% stake in Lithium Technology Corp. from Arch Hill Capital N.V., Stichting Gemeenschappelijk Bezit Aandelen PAG Holding for $27.4 million.

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.