QLT Announces Results of Annual General Meeting of Shareholders
December 16 2014 - 7:00AM
QLT Inc. (Nasdaq:QLTI) (TSX:QLT) ("QLT" or the "Company") is
pleased to announce that, on a vote by ballot, the six incumbent
directors of the Company were re-elected at the Company's annual
general meeting held on December 15, 2014 (the "Meeting").
Detailed results of the vote for the election of directors are
as follows:
Nominee |
Votes For |
% |
Votes Withheld |
% |
Jason M. Aryeh |
19,863,451 |
98.74 |
254,321 |
1.26 |
Dr. Geoffrey F. Cox, Ph.D |
19,986,585 |
99.35 |
131,187 |
0.65 |
Dr. John W. Kozarich, Ph.D |
19,993,991 |
99.38 |
123,781 |
0.62 |
Jeffrey A. Meckler |
19,854,035 |
98.69 |
263,737 |
1.31 |
Dr. Stephen L. Sabba, M.D. |
19,998,081 |
99.41 |
119,691 |
0.59 |
John C. Thomas, Jr. |
19,864,082 |
98.74 |
253,690 |
1.26 |
Shareholders at the Meeting also approved the Company's Amended
and Restated Advance Notice Policy.
Final voting results on all matters voted on at the Meeting will
be filed on SEDAR at www.sedar.com and EDGAR at www.sec.gov.
Strategic and Business Review Update
The Company also announces that, following the termination of
the Agreement and Plan of Merger with Auxilium Pharmaceuticals,
Inc. in October 2014, the Company continues its review of strategic
and business options. The Company has engaged Greenhill & Co.
to act as advisor to the Company in connection with developing, and
advising the Company with respect to, various strategic and
business alternatives for the Company. Strategic and business
alternatives that the Company may consider include, but are not
limited to, asset divestiture, partnering or other collaboration
agreements, merger, reverse merger, reorganization or similar
transactions, potential acquisitions, or recapitalizations, in
addition to continuing to operate the Company in the ordinary
course of business and developing its synthetic retinoid
program.
About QLT
QLT is a biotechnology company dedicated to the development and
commercialization of innovative ocular products that address the
unmet medical needs of patients and clinicians worldwide. We are
focused on developing our synthetic retinoid program for the
treatment of certain inherited retinal diseases.
QLT's head office is based in Vancouver, Canada and the Company
is publicly traded on NASDAQ Stock Market (symbol: QLTI) and the
Toronto Stock Exchange (symbol: QLT). For more information about
the Company's products and developments, please visit our web site
at www.qltinc.com.
QLT Inc. Contacts:
Investor & Media Relations Andrea Rabney or
David Pitts Argot Partners 212-600-1902 andrea@argotpartners.com
david@argotpartners.com
Certain statements in this press release may constitute
"forward-looking statements" of QLT within the meaning of the
Private Securities Litigation Reform Act of 1995 and constitute
"forward-looking information" within the meaning of applicable
Canadian securities laws. Forward-looking statements include, but
are not limited to: statements which contain language such as:
"assuming," "prospects," "goal," "future," "projects," "potential,"
"could," "may," "believes," "expects," "hopes" and "outlook."
Forward-looking statements are predictions only which involve known
and unknown risks, uncertainties and other factors that may cause
actual results to be materially different from those expressed in
such statements. Many such risks, uncertainties and other factors
are taken into account as part of our assumptions underlying these
forward-looking statements and include, among others, the following
risks, uncertainties and other factors: the effect that QLT's
announcements and actions will have on the market price of our
securities; the risk that QLT does not pursue any strategic
transaction or business alternative, or that any such transaction
or business alternative that is pursued is unsuccessful; QLT's
development plans, timing and results of the clinical development
of our synthetic retinoid program; the risk that our assumptions
related to continued enrollment trends, efforts and success, and
the associated costs of our synthetic retinoid program will prove
incorrect; the risk that outcomes for our clinical trials may not
be favorable or may be less favorable than interim/preliminary
results disclosed and/or previous trials; the possibility that
interpretations of data produced by one or more of our clinical
trials will vary; the timing, expense and uncertainty associated
with the regulatory approval process for products to advance
through development stages; risks and uncertainties associated with
the safety and effectiveness of our synthetic retinoid program;
risks and uncertainties related to the scope, validity, and
enforceability of our intellectual property rights and the impact
of patents and other intellectual property of third parties; the
Company's future operating results, which are uncertain and likely
to fluctuate; currency fluctuations; and general economic
conditions and other factors described in detail in QLT's Annual
Report on Form 10-K, Quarterly Reports on Form 10-Q and other
filings with the U.S. Securities and Exchange Commission and
Canadian securities regulatory authorities. Forward-looking
statements are based on the current expectations of QLT and QLT
does not assume any obligation to update such information to
reflect later events or developments except as required by law.
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