Common shares to begin trading on a consolidated and
reverse-split-adjusted basis on November 20,
2015
QUÉBEC CITY, Nov. 18, 2015
/PRNewswire/ - Aeterna Zentaris Inc. (NASDAQ: AEZS) (TSX: AEZ)
(the "Company") today announced that the consolidation (the
"Consolidation") of its issued and outstanding common shares (the
"Common Shares") approved by shareholders at a special meeting held
on November 16, 2015, occurred at the
Consolidation ratio of 100-to-1 and became legally effective on
November 17 2015 (the "Share
Consolidation Effective Date").
The Company has received conditional approval from the Toronto
Stock Exchange ("TSX") to effect the Consolidation and has provided
notification of the Consolidation to The NASDAQ Stock Market
("NASDAQ"). Subject to final confirmation by each of TSX and
NASDAQ, it is expected that the post-Consolidation Common Shares
will begin trading on each of NASDAQ and TSX at the opening of
markets on November 20, 2015 under
the current NASDAQ and TSX trading symbols, "AEZS" and "AEZ",
respectively, under the new post-Consolidation CUSIP and ISIN
numbers of 007975402 and ISIN CA0079754028, respectively.
The Consolidation will reduce the number of outstanding Common
Shares from approximately 656.0 million to approximately 6.6
million. Proportionate adjustments will be made to the
Company's outstanding warrants and stock options. No
fractional Common Shares have been issued pursuant to the
Consolidation and any fractional shares that would have otherwise
been issued have been rounded down to the nearest whole
number. Any and all such fractional shares will be aggregated
and sold by the Company's transfer agent and registrar on the
market, with the net proceeds being proportionately distributed to
shareholders. In addition, as of the close of business on
November 16, 2015 and immediately
prior to the Share Consolidation Effective Date, there remained
approximately 1.9 million Series B Common Share Purchase
Warrants (the "Series B Warrants") representing approximately 19
thousand Series B Warrants on a post-Consolidation basis, of which
approximately 1.1 million, or approximately 11 thousand on a
post-Consolidation basis, are subject to our previously announced
agreement with certain holders of Series B Warrants and will be
exercisable for approximately 365.5 thousand post-Consolidation
Common Shares.
Letters of transmittal with respect to the Consolidation have
been mailed to the Company's registered shareholders. All
registered shareholders will be required to send their share
certificates representing pre-Consolidation Common Shares, along
with a properly executed letter of transmittal, to the Company's
registrar and transfer agent, Computershare Investor Services Inc.,
in accordance with the instructions provided in the letter of
transmittal. All registered shareholders who submit to
Computershare a completed letter of transmittal, along with their
respective certificates representing pre-Consolidation Common
Shares, will receive in exchange new certificates representing
their post-Consolidation Common Shares. Shareholders who hold their
Common Shares through a broker, investment dealer, bank, trust
company or other nominee or intermediary should contact that
nominee or intermediary for assistance in depositing their Common
Shares in connection with the Consolidation.
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.