Common shares will begin trading on a consolidated and
split-adjusted basis on October 5,
2012
QUÉBEC CITY, Oct. 3, 2012
/PRNewswire/ - Aeterna Zentaris Inc. (NASDAQ: AEZS) (TSX: AEZ)
(the "Company") today announced that the issued and
outstanding common shares of the Company ("Common Shares") have
been consolidated (the "Consolidation") on a six (6) to one (1)
basis effective as of October 2,
2012. The purpose of the Consolidation is to enable the
Company to attempt to regain compliance with NASDAQ's minimum bid
price requirement.
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 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 or
about October 5, 2012 under its
current NASDAQ and TSX trading symbols, "AEZS" and "AEZ",
respectively, under the new post-Consolidation CUSIP number of
007975303.
The Consolidation will reduce the number of outstanding Common
Shares from approximately 112.4 million to approximately
18.7 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.
Letters of transmittal with respect to the Consolidation are
being 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 Share Consolidation.
About Aeterna Zentaris
Aeterna Zentaris is an oncology and endocrinology drug
development company currently investigating treatments for various
unmet medical needs. The Company's pipeline encompasses compounds
at all stages of development, from drug discovery through to
marketed products. For more information please visit
www.aezsinc.com.
Forward-Looking Statements
This press release contains forward-looking statements made
pursuant to the safe harbour provisions of the U.S. Securities
Litigation Reform Act of 1995. Forward-looking statements involve
known and unknown risks and uncertainties that could cause the
Company's actual results to differ materially from those in the
forward-looking statements. For example, because the market price
of the Company's Common Shares will also be based on the Company's
financial and operational results, its financial position,
including its capital availabilities and liquidity resources, the
development of its product pipeline, market conditions, the market
perception of its business and other factors, which are unrelated
to the number of shares outstanding, there can be no assurance that
the market price of the Common Shares will in fact increase
following the Consolidation or will not decrease in the future, or
that the minimum closing bid price of the Common Shares will meet
NASDAQ's minimum bid price requirement. Further, there can be no
assurance that the Consolidation alone will guarantee the continued
listing of the Common Shares on The NASDAQ Global Market or that
the Common Shares will not be delisted due to a failure to meet
other NASDAQ continued listing requirements. Other such risks and
uncertainties include, among others, the availability of funds and
resources to pursue R&D projects, 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 Company to take advantage of business
opportunities in the pharmaceutical industry, uncertainties related
to the regulatory process and general changes in economic
conditions. Investors should consult the Company's quarterly and
annual filings with the Canadian and U.S. securities commissions
for additional information on risks and uncertainties relating to
forward-looking statements. Investors are cautioned not to rely on
these forward-looking statements. The Company 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.