QUEBEC CITY, Oct. 27, 2015 /PRNewswire/ - Aeterna Zentaris Inc. (NASDAQ: AEZS) (TSX: AEZ) (the "Company") today announced that Institutional Shareholder Services Inc. (ISS) and Glass Lewis & Co., two leading independent proxy research and advisory firms, have published reports recommending that the Company's shareholders vote FOR a special resolution authorizing the consolidation of the issued and outstanding common shares of the Company at a consolidation ratio of between 8-for-1 and 100-for-1 (the "Share Consolidation") at a special meeting of shareholders to be held on Monday, November 16, 2015 at 9:30 a.m. (Eastern time) (the "Meeting").
"I am pleased that ISS and Glass Lewis, two leading independent research and advisory firms, validate the views of our Board of Directors that the proposed share consolidation would be in the best interest of the Company and its shareholders," stated David A. Dodd, Chairman, President and CEO of the Company. "We believe that the Share Consolidation is necessary in order to avoid the delisting of our Common Shares from The NASDAQ Capital Market and to improve our capital structure", Mr. Dodd concluded.
The Management Information Circular (the "Circular") sent to shareholders contains, among other things, details concerning the Share Consolidation, reasons that the Company'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 TODAY!
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 Company 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 Company's proxy solicitation agent, toll free at 1-877-452-7184, collect at 416-304-0211 or by email at [email protected].
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.
SOURCE Aeterna Zentaris Inc.