Helix BioPharma (HBP) Announces Court Approval of Shareholder Settlement

May 7, 2012 5:48 PM EDT
Helix BioPharma Corp. (NYSE: HBP) has obtained an Order of the Ontario Superior Court of Justice approving the settlement that Helix entered into with the Concerned Shareholders and others on March 14, 2012, and dismissing the related court proceedings. Among other things, the approved settlement specifies the composition of Helix's current, reconstituted, board of directors, and provides that Helix's next annual general meeting of shareholders will not be held prior to January 15, 2013.

Accordingly, notwithstanding Helix's news release dated January 30, 2012 which indicated that Helix expected to call a new meeting for the election of directors within three months, Helix intends to hold its next meeting of shareholders for the election of directors in January, 2013.

In the meantime, the board of directors of Helix looks forward to continuing to meet with shareholders, and to providing further updates to Helix's shareholders on the state of the company going forward.

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