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BELLUS Health Announces Share Consolidation and Record Date for Annual and Special Meeting of Securityholders
LAVAL, QC, April 19, 2012 /CNW/ - BELLUS Health Inc. (TSX: BLU) ("BELLUS Health" or the "Co...
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[{"type":"text","content":"\n\n\n\n\n\nLAVAL, QC, April 19, 2012 /CNW/ - BELLUS Health Inc. (TSX: BLU) (\"BELLUS\n Health\" or the \"Company\") today announced that as part of the proposed\n transaction with Pharmascience Inc. (\"Pharmascience\") announced on\n April 5, 2012, the Company, upon completion of the proposed\n transaction, will consolidate its common shares on the basis of one new\n post-consolidation common share for every 30 pre-consolidation common\n shares.  The Company also advised that it will send materials relating\n to this year's annual and special meeting to securityholders of record\n as of April 18, 2012.\n\n\nThe annual and special meeting is scheduled to be held at the offices of\n BELLUS Health, located at 275 Armand Frappier, Laval, Québec on May 15,\n 2012, at 10:00 a.m. (Eastern Time). The meeting will consider the\n proposed partnership between BELLUS Health and Pharmascience, among\n other items.\n\n\nStakeholders of record who are unable to attend the meeting may vote\n their securities by completing the form of proxy that will be included\n in the information package to be sent to securityholders following the\n record date. The meeting materials will also be available at www.sedar.com.\n\n\nShare consolidation\n\n\nThe proposed share consolidation will facilitate growth as the Company\n pursues development of its Phase III compound KIACTA™ and seeks to add\n promising compounds to its development pipeline. Securityholders will\n vote on the share consolidation at the annual and special meeting, in\n connection with the proposed plan of arrangement with Pharmascience.\n Following the proposed plan of arrangement and share consolidation, it\n is expected that there will be 47.4 million basic shares outstanding\n and 61.1 million fully diluted shares outstanding. No fractional common\n shares will be issued in connection with the consolidation. In the\n event that the consolidation would otherwise result in the issuance of\n a fractional common share, such fraction of a common share will be\n rounded down to the nearest whole number. The consolidation is subject\n to the approval of the securityholders of BELLUS Health as well as the\n Toronto Stock Exchange (TSX).\n\n\nSummary of the strategic partnership and financing with Pharmascience\n\n\nUnder the terms of the proposed transaction, BELLUS will cause ...