Business
Neurochem announces it has obtained written consent from its shareholders in connection with its private placement of US$80 million aggregate principal amount of convertible notes
Neurochem announces it has obtained written consent from its shareholders in connection with its private placement of US$80 million aggregate principal amount of convertible notes.
About this update from Bluenergies Ltd.
[{"type":"text","content":"\n\n\n\nLAVAL, QC, June 5 /CNW Telbec/ - Neurochem Inc. ("Neurochem") (NASDAQ:\nNRMX, TSX: NRM) announced today that, in connection with its previously\nannounced private placement of US$80 million aggregate principal amount of\nconvertible notes (the "Notes") and warrants the ("Warrants") to purchase\ncommon shares (the "Common Shares"), it has provided the Toronto Stock\nExchange (the "TSX") with written evidence that holders of more than 50% of\nits securities are familiar with the terms of the Notes and Warrants and are\nin favour thereof.\n\n\nPursuant to the rules of the TSX, without shareholder approval, Neurochem\ncould not issue more than 9,694,832 Common Shares (being 24.9% of the number\nof Common Shares outstanding, on a non-diluted basis, as at the date of the\nconditional approval of the private placement by the TSX) upon conversion of\nthe Notes and exercise of the Warrants or give effect to certain adjustment\nand anti-dilution provisions of the Notes or Warrants that would result in an\nexercise or conversion price that is less than the "market price" of the\nCommon Shares as such term is defined for the purposes of the rules of the\nTSX.\n\n\nIn order to benefit from the exemption set forth at Section 604 of the\nTSX Company Manual from the requirement to hold a special shareholders'\nmeeting to obtain the required approval, Neurochem has provided the TSX with\nwritten evidence that holders of more than 50% of its voting securities are\nfamiliar with the terms of the Notes and Warrants, including the provisions\nthat could result in the issuance of Common Shares in excess of the 9,694,832\nCommon Shares or in the exercise or conversion price of the Warrants or Notes\nbeing less than the "market price" of the Common Shares as such term is\ndefined for the purposes of the rules of the TSX and are in favour thereof.\nSuch approval will be effective on June 12, 2007.\n\n\nThe forms of Notes and Warrants are available at www.sedar.com and at\nwww.sec.gov.\n\n\nAbout Neurochem\n\n\nNeurochem Inc. is focused on the development and commercialization of\ninnovative therapeutics to address critical unmet medical needs. Eprodisate\n(KIACTA(TM)) is currently being developed for the treatment of Amyloid A (AA)\namyloidosis, and is under regulatory review ...