NUCRYST calls special meeting of shareholders
19 Diciembre 2008 - 1:01PM
PR Newswire (US)
PRINCETON, NJ, Dec. 19 /PRNewswire-FirstCall/ -- NUCRYST
Pharmaceuticals Corp. ("NUCRYST"), a developer and manufacturer of
medical products that fight infection and inflammation, announced
today that the board of directors of NUCRYST is calling a special
meeting of shareholders to be held on Thursday, February 12, 2009
at the company's corporate offices in Princeton, New Jersey. The
record date for the special meeting has been set for January 16,
2009. The Special Meeting of Shareholders was requisitioned on
December 1, 2008 by The Westaim Corporation ("Westaim"), which
holds approximately 75% of the issued and outstanding shares of
NUCRYST. The Board is required by law to call the requisitioned
meeting within 21 days of receipt of the Westaim requisition. The
Special Meeting is being called to consider a special resolution
pursuant to section 38(1) of the Business Corporations Act
(Alberta) to reduce the stated capital of the outstanding NUCRYST
common shares by an amount equal to the product of the number of
common shares outstanding on the date of the meeting and U.S.$0.80
for the purpose of distributing U.S.$0.80 cash per common share to
the shareholders of NUCRYST. Prior to the Special Meeting, NUCRYST
will mail to all shareholders a management information circular
containing further information about the subject matter of the
meeting and related matters. Shareholders are encouraged to review
the document in its entirety. About NUCRYST Pharmaceuticals NUCRYST
Pharmaceuticals (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
http://www.sec.gov/ and with securities authorities in Canada on
SEDAR at http://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. DATASOURCE: NUCRYST Pharmaceuticals Corp. CONTACT: David B.
Holtz, Vice President and Chief Financial Officer, NUCRYST
Pharmaceuticals, (609) 228-8202; Fern Lazar, Lazar Partners, (212)
867-1762
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