QLT Inc. (QLTI) Says Nordic Biotech to Vote 7.4M Common in Favor of Nominees

May 23, 2012 8:56 AM EDT
QLT Inc. (Nasdaq: QLTI) has been notified that NB Public Equity Komplementar ApS has deposited with Computershare Investor Services Inc., the Company's proxy administrator, a legal proxy representing an aggregate of approximately 7.4 million common shares of QLT that are instructed to be voted at the Company's annual general meeting of shareholders on May 24, 2012 (the "Annual Meeting") in favour of a dissident slate of directors nominated by Nordic Biotech.

On May 22, 2012, Nordic Biotech filed a Schedule 13D with the United States Securities & Exchange Commission in which it stated that it intends to nominate, vote for and seek the election of up to six new nominees to the Company's board of directors at the Annual Meeting.

Computershare has advised that it has also received legal proxies representing an additional approximately 2.5 million common shares voting in support of the Nordic Biotech nominees to the QLT board.

Computershare further advised that on May 22, 2012, legal proxies representing an additional approximately 8.9 million common shares were deposited that granted the holder of the proxies discretion to vote those shares at the Annual Meeting. The Company is presently unaware of how those shares will be voted.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Corporate News, Management Changes

Related Entities


Add Your Comment