AETERNA ZENTARIS : Special Meeting of Shareholders on R/S

JOVRO

16 oct. 2015 •13:52

QUEBEC CITY , Oct. 16, 2015 /CNW Telbec/ - Aeterna Zentaris Inc. (AEZS) (AEZ.TO) (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.