Navigation Links
NUCRYST Receives Requisition to Call a Special Meeting of Shareholders From Majority Shareholder
Date:12/2/2008

PRINCETON, N.J., Dec. 2 /PRNewswire-FirstCall/ - NUCRYST Pharmaceuticals Corp., a developer and manufacturer of medical products that fight infection and inflammation, announced today that its Board of Directors has received from its majority shareholder, The Westaim Corporation ("Westaim"), a requisition to call a special meeting of shareholders to consider a return of capital of US$0.80 per share to NUCRYST shareholders. This equates to a return of capital of approximately US$15 million. The special meeting requisition also requests that shareholders set the number of directors of NUCRYST and elect directors.

A Special Committee of the NUCRYST Board comprised of non-conflicted directors has been formed to oversee the process of calling the special meeting and to provide advice and recommendations to the NUCRYST Board as may be required. BMO Capital Markets has been retained as financial advisor to the Special Committee and McMillan LLP of Toronto has been retained to provide the Special Committee with independent legal advice. Until NUCRYST completes its review, NUCRYST will not further comment on the special meeting requisition.

About NUCRYST Pharmaceuticals

NUCRYST Pharmaceuticals Corp. (NASDAQ: NCST; TSX: NCS) develops, manufactures and commercializes medical products that fight infection and inflammation using SILCRYST(TM), its patented atomically disordered nanocrystalline silver technology. NUCRYST licensed world-wide rights for SILCRYST(TM) wound care coating products to Smith & Nephew plc, which markets these products in over 30 countries under their Acticoat(TM) trademark. NUCRYST is also developing pharmaceutical products to address medical conditions that are characterized by pain, infection and inflammation. The Company has developed its proprietary nanocrystalline silver in a powder form, referred to as NPI 32101 for use in medical devices and as an active pharmaceutical ingredient.

    Acticoat(TM) is a trademark of Smith & Nephew plc
    SILCRYST(TM) is a trademark of NUCRYST Pharmaceuticals Corp.

This news release contains forward-looking statements within the meaning of securities legislation in the United States and Canada (collectively "forward-looking statements"). Forward-looking statements in this news release include, but are not limited to, statements about our plans to review and respond to the special meeting requisition. With respect to the forward-looking statements contained in this news release, readers are cautioned that numerous risks, uncertainties and other factors could cause our actual results to differ materially from those indicated in these statements including, but not limited to: Westaim's stated intention to review its alternatives for maximizing the value of its stake in NUCRYST, the identification and pursuit of new opportunities to grow the value of NUCRYST; performance of stock markets generally; our ability to satisfy regulatory and stock exchange standards and requirements to maintain our exchange listing; our future operation results are uncertain and likely to fluctuate; our ability to maintain our collaboration with Smith & Nephew; our reliance on sales of Acticoat(TM) products with our SILCRYST(TM) coatings by Smith & Nephew; and the future financial performance and operating performance of Smith & Nephew. Although we have attempted to identify the important risks, uncertainties and other factors that could cause actual results or events to differ materially from those expressed or implied in forward-looking statements, there may be other factors that cause actual results or events to differ from those expressed or implied in forward looking statements. For a more thorough discussion of the risks associated with our business, see the "Risk Factors" section in our Annual Report on Form 10-K for the year ended December 31, 2007 and in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2008, filed with the U.S. Securities and Exchange Commission on EDGAR at www.sec.gov and with securities authorities in Canada on SEDAR at www.sedar.com. All forward-looking statements are expressly qualified in their entirety by this cautionary statement and NUCRYST disclaims any intention or obligation to revise or update any forward-looking statements whether as a result of new information, future developments or otherwise after the date hereof.


'/>"/>
SOURCE NUCRYST Pharmaceuticals Corp.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. The Westaim Corporation requisitions meeting of shareholders of NUCRYST Pharmaceuticals to return capital to NUCRYST shareholders
2. NUCRYST Receives Deficiency Notice from NASDAQ
3. NUCRYST Pharmaceuticals to Release Second Quarter 2008 Financial Results on Tuesday, August 12, 2008
4. NUCRYST Appoints David B. Holtz as Vice President and Chief Financial Officer
5. NUCRYST Announces First Quarter 2008 Financial Results
6. NUCRYST Announces Management Realignment and R&D Portfolio Change
7. NUCRYST Announces Senior Management Change
8. NUCRYST Pharmaceuticals announces year-end results
9. NUCRYST Pharmaceuticals announces 2007 third quarter results
10. Webcast Advisory - NUCRYST Pharmaceuticals Webcast of Conference Call to Discuss 2007 Third Quarter Results
11. NUCRYST and Smith & Nephew Revise Agreements
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/13/2017)... ... October 13, 2017 , ... While it’s often important to take ... an inventor from Austin, Texas, has identified a solution. , She developed a prototype ... restricted lighting. As such, it eliminates the need to turn on a light when ...
(Date:10/13/2017)... Vegas, Nevada (PRWEB) , ... October 13, 2017 , ... ... 7® Hemp CBD Oil utilizing Purzorb™ technology. Applying the Purzorb™process to full spectrum CBD ... dose required and providing a CBD form that can be easily incorporated into liquid ...
(Date:10/13/2017)... Shelton, CT (PRWEB) , ... October 13, 2017 , ... ... and long-term care services, staged a mock evacuation of the facility as part of ... Department, Shelton Fire Department, Echo Hose EMS and Shelton City Emergency Manager, as well ...
(Date:10/13/2017)... (PRWEB) , ... October 13, 2017 , ... Ellevate Network, ... in business to advocate for action towards gender equality at their inaugural Summit in ... around the globe, and reached a social audience of over 3 million. To watch ...
(Date:10/13/2017)... ... ... Talented host, actor Rob Lowe, is introducing a segment ... of "Success Files," which is an award-winning educational program broadcasted on PBS Member ... with passion and integrity. , Sciatica occurs when the sciatic nerve in the ...
Breaking Medicine News(10 mins):
(Date:9/25/2017)... , Sept. 25, 2017  EpiVax, Inc., a ... design, and immune-engineering today announced the launch of ... development of personalized therapeutic cancer vaccines. EpiVax has ... exclusive access to enabling technologies to the new ... will lead EpiVax Oncology as Chief Executive Officer. ...
(Date:9/19/2017)... Inc., a venture-backed medical device company developing a non-invasive, robotically assisted, platform therapy that uses ... today:   ... Jim ... Tom Tefft ... Veteran medical device executive Josh Stopek , PhD, who has led R&D and business ...
(Date:9/13/2017)... has been named the official orthopedic and sports medicine ... 2018 College Football Playoff (CFP) National Championship to be played ... Atlanta, Georgia . OrthoAtlanta is proud to be ... many activities leading up to, and including the national championship ... OrthoAtlanta serves ...
Breaking Medicine Technology: