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Aeterna Zentaris Urges Shareholders to Vote in Favor of the Share Consolidation and Highlights Support from ISS and Glass Lewis
Aeterna Zentaris Urges Shareholders to Vote in Favor of the Share Consolidation and Highli...
About this update from Cosciens Biopharma Inc.
[{"type":"text","content":"\n\n\n\nAeterna Zentaris Urges Shareholders to Vote in Favor of the Share Consolidation and Highlights Support from ISS and Glass Lewis\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nAeterna Zentaris Urges Shareholders to Vote in Favor of the Share Consolidation and Highlights Support from ISS and Glass Lewis\nCanada NewsWire\nQUEBEC CITY, Nov. 11, 2015\n\n\n\nAll amounts are in US Dollars \n\n\n\nQUEBEC CITY, Nov. 11, 2015 /CNW Telbec/ - Aeterna Zentaris Inc. (NASDAQ: AEZS) (TSX: AEZ) (the \"Company\") today urged its shareholders to vote FOR a special resolution authorizing the consolidation of the Company's issued and outstanding common shares at a consolidation ratio of between 8-for-1 and 100-for-1 (the \"Share Consolidation\") at a special meeting (the \"Meeting\") of shareholders to be held on Monday, November 16, 2015 and highlighted the support for the Share Consolidation that it has received from Institutional Shareholder Services Inc. (\"ISS\") and Glass Lewis & Co. The Company issued the following statement:\n\nAeterna Zentaris is pleased that ISS and Glass Lewis, two leading independent proxy research and advisory firms, have published reports recommending that the Company's shareholders vote FOR the Share Consolidation. In the supportive recommendation from ISS, they note: \"Stock consolidations, while not immediately adding to shareholder value, should enhance the long-term growth prospects of the company by broadening its financing alternatives. Continued low trading prices of the company's shares can put them below investment grade for many institutions, limiting the potential capital base for the company and its prospects for raising new capital as needed.\"  The Company urges shareholders to consider management's continued efforts to transform the Company into a profitable, growth-oriented company, delivering long-term value to shareholders, employees, patients and their healthcare providers and to vote in favor of the Share Consolidation.\n\nCommenting on the upcoming vote, Mr. David A. Dodd, C...