QLT Announces Date of Special Distribution to Shareholders
April 04 2016 - 8:37AM
QLT Inc. (NASDAQ:QLTI) (TSX:QLT) (“QLT”) is pleased to announce
that its previously announced special distribution (the
“
Special Distribution”) of common shares (the
“
Aralez Shares”) of Aralez Pharmaceuticals Inc.,
or cash in lieu thereof, to QLT shareholders will complete on April
5, 2016 (the “
Distribution Date”).
Due Bill Trading Procedures
In accordance with the rules of the Toronto
Stock Exchange and NASDAQ, “due bill” trading procedures are being
applied in connection with the Special Distribution. Pursuant
to these procedures, automated systems are tracking any trading of
QLT common shares (“QLT Shares”) in the period
between the second trading day prior to the record date for the
Special Distribution, being February 11, 2016, and the Distribution
Date (the “Due Bill Period”). The QLT shares
will commence trading on an “ex-distribution” basis on April 6,
2016, the date following the Distribution Date, as of which date
purchases of QLT Shares will no longer have an attaching right to
the Special Distribution. The “due bills” will be redeemed
once all trades with attached “due bills” entered during the Due
Bill Period have settled, which is anticipated to occur at the end
of the business day on or about April 8, 2016.
About QLT
QLT is a biotechnology company dedicated to the
development and commercialization of innovative ocular products
that address the unmet medical needs of patients and clinicians
worldwide. We are focused on developing our synthetic
retinoid program for the treatment of certain inherited retinal
diseases.
QLT’s head office is based in Vancouver, Canada
and the Company is publicly traded on NASDAQ Stock Market (symbol:
QLTI) and the Toronto Stock Exchange (symbol: QLT). For more
information about the Company’s products and developments, please
visit our website at www.qltinc.com.
Cautionary Statement Regarding
Forward-Looking StatementsCertain statements in this press
release constitute “forward-looking statements” of QLT within the
meaning of the Private Securities Litigation Reform Act of 1995 and
constitute “forward-looking information” within the meaning of
applicable Canadian securities laws. Forward looking
statements include, but are not limited to, statements concerning
the Distribution Date, statements regarding the date of redemption
of the due bills and any other statements regarding QLT’s future
expectations, beliefs, plans, objectives, financial conditions,
assumptions or future events or performance that are not historical
facts are “forward-looking” statements made within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. These
statements are often, but not always, made through the use of words
or phrases such as “believe,” “expect,” “anticipate,” “should,”
“planned,” “will,” “may,” “intend,” “estimated,” “aim,” “on track,”
“target,” “opportunity,” “tentative,” “positioning,” “designed,”
“create,” “predict,” “project,” “seek,” “would,” “could,”
“potential,” “continue,” “ongoing,” “upside,” “increases,” and
“potential” and similar expressions. All such forward-looking
statements involve estimates and assumptions that are subject to
risks, uncertainties and other factors that could cause actual
results to differ materially from the results expressed in the
statements. Among the key factors that could cause actual
results to differ materially from those projected in the
forward-looking statements are the failure of QLT to complete all
steps necessary to complete the Special Distribution by the
Distribution Date, the timing required to redeem all due bills and
uncertainties relating to QLT’s development plans, timing and
results of the clinical development and commercialization of QLT’s
products and technologies. Additional information concerning
these and other factors can be found in QLT’s filings with the SEC,
including QLT’s most recent Annual Reports on Form 10-K, Quarterly
Reports on Form 10-Q and Current Reports on Form 8-K. QLT assumes
no obligation to update any forward-looking statements. Readers are
cautioned not to place undue reliance on these forward-looking that
speak only as of the date hereof.
QLT Inc.
Contacts:
For Investors:
Andrea Rabney or David PittsArgot PartnersP:
212-600-1902andrea@argotpartners.comdavid@argotpartners.com
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