QUEBEC CITY, Oct. 16, 2015 /CNW Telbec/ - Aeterna
Zentaris Inc. (NASDAQ: AEZS) (TSX: AEZ) (the "Corporation") today
announced that it has convened a special meeting of shareholders
(the "Meeting") to be held on Monday,
November 16, 2015, at 9:30 a.m.
(Eastern time) for shareholders of record on October 14, 2015 to consider a special resolution
authorizing the consolidation of the issued and outstanding common
shares of the Corporation at a consolidation ratio of between
8-for-1 and 100-for-1 (the "Share Consolidation") and that the
Notice of Special Meeting of Shareholders and Management
Information Circular (the "Circular") have been mailed to
shareholders.
David Dodd, Chairman and CEO of
Aeterna Zentaris, commented, "We are asking our shareholders to
approve a share consolidation of up to 100-for-1 in order to avoid
a potential delisting of our Common Shares from The NASDAQ Capital
Market and to improve our capital structure. We believe that
the consolidation could heighten the interest of the financial
community in us and potentially broaden the pool of investors that
may consider investing or be able to invest in us by increasing the
trading price of our Common Shares. It could also help to
attract institutional investors who have internal policies that
either prohibit them from purchasing stocks below a certain minimum
price or tend to discourage individual brokers from recommending
such stocks to their customers."
As of the record date for the Meeting of October 14, 2015, there were 544,179,214 issued
and outstanding Common Shares and approximately 5.3 million issued
and outstanding Series B Share Purchase Warrants, representing
approximately 17.7% of the number originally issued.
The Circular contains, among other things, details concerning
the Share Consolidation, reasons that the Corporation's Board of
Directors recommends the Share Consolidation, requirements for the
Share Consolidation to be implemented and the procedure for
receiving new shares if the Share Consolidation is implemented, as
well as the procedures for voting at the meeting and other related
matters. Shareholders are urged to carefully review the
Circular and accompanying materials as they contain important
information regarding the Share Consolidation and its consequences
to Shareholders. A copy of the Circular is available on SEDAR at
www.sedar.com and on the EDGAR section of the U.S. Securities and
Exchange Commission's website at www.sec.gov.
The Board of Directors UNANIMOUSLY recommends
that Shareholders vote FOR the Share Consolidation.
YOUR VOTE IS IMPORTANT. VOTE AS SOON AS YOU RECEIVE THE
MEETING MATERIALS!
A proxy form or voting instruction form will accompany the
Meeting materials you receive by mail. Instructions on how to
vote, which vary depending on whether you are a registered or
beneficial shareholder of the Corporation are provided in the
Circular and the proxy form or voting instruction form.
If you have any questions or require more information with
regard to the procedures for voting, please contact Laurel Hill
Advisory Group, the Corporation's proxy solicitation agent, toll
free at 1-877-452-7184, collect at 416-304-0211 or email
assistance@laurelhill.com.
About Aeterna Zentaris
Aeterna Zentaris is a specialty biopharmaceutical company
engaged in developing and commercializing novel treatments in
oncology, endocrinology and women's health. For more information,
visit www.aezsinc.com.
Forward-Looking Statements
This press release contains forward-looking statements made
pursuant to the safe harbor provisions of the US Securities
Litigation Reform Act of 1995. Forward-looking statements
involve known and unknown risks and uncertainties that could cause
the Corporation's actual results to differ materially from those in
the forward-looking statements. Such risks and uncertainties
include, among others, the availability of funds and resources to
pursue R&D projects and clinical trials, the successful and
timely completion of clinical studies, the risk that safety and
efficacy data from any of our Phase 3 trials may not coincide with
the data analyses from previously reported Phase 1 and/or Phase 2
clinical trials, the ability of the Corporation to effectively
commercialize one or more of its products or product candidates,
the ability of the Corporation to take advantage of business
opportunities in the pharmaceutical industry, uncertainties related
to the regulatory process, the ability to protect our intellectual
property, the potential of liability arising from shareholder
lawsuits and general changes in economic conditions.
Investors should consult the Corporation's quarterly and
annual filings with the Canadian and US securities commissions for
additional information on risks and uncertainties relating to
forward-looking statements. Investors are cautioned not to place
undue reliance on these forward-looking statements. The
Corporation does not undertake to update these forward-looking
statements. We disclaim any obligation to update any such
factors or to publicly announce the result of any revisions to any
of the forward-looking statements contained herein to reflect
future results, events or developments, unless required to do so by
a governmental authority or by applicable law.
SOURCE Aeterna Zentaris Inc.