East Hill reports 8.8% stake in Aviragen, urges liquidation of company
East Hill initially acquired the shares of common stock reported herein as passive investors in a predecessor of the company based on the belief that such securities represented an attractive investment opportunity in such predecessor. East Hill is filing this statement on Schedule 13D pursuant to Section240.13d-1(e) because it now holds the common stock with a purpose or effect of influencing or changing control of the company. The company recently announced plans "to explore a wide range of strategic alternatives" that include a business combination or strategic merger, in-licensing clinical stage programs, an acquisition, or other transaction. East Hill has concluded, at this time, that the company should abandon all of its plans to explore strategic alternatives and instead should wind up its business and liquidate. To that end, on June 7, representatives of East Hill had a telephone conversation with representatives of the company's management and board of directors to discuss, among other things, the potential benefit of liquidating the company. East Hill intends to have further conversations, meetings and other communications with the management and board of directors of the company, and possibly with other stockholders and third persons, in each case to discuss the company's strategies, business and other matters related to the company. These communications may include a discussion of options for liquidating the company.