Aeterna Zentaris Announces Shareholder Approval of Share Consolidation

QUÉBEC CITY, Nov. 16, 2015 /PRNewswire/ - Aeterna Zentaris Inc. (NASDAQ: AEZS) (TSX: AEZ) (the "Company") today announced that the holders of its issued and outstanding common shares ("Common Shares") approved a share consolidation (the "Consolidation") and that the Company has determined that the Consolidation ratio will be 100-for-1. 

Representatives of Computershare Trust Company of Canada, who served as the scrutineers of the special meeting of shareholders at which the Consolidation was approved, certified that 333,889,035 of the Company's Common Shares were voted on the Consolidation, that 235,979,275 shares were voted in favor of the Consolidation (representing 70.68% of the shares voted) and that 97,909,760 shares were voted against the Consolidation (representing 29.32% of the shares voted).  The votes cast in favor of the Consolidation therefore satisfied the requirement that the Consolidation be approved by not less than two-thirds of the votes cast by shareholders who voted in respect of the Consolidation.

The Company intends to implement the Consolidation in the coming days and will shortly provide all relevant details regarding the Consolidation, including its effective date and the date on which the Common Shares are expected to commence trading on a post-Consolidation basis on the NASDAQ Capital Market and the Toronto Stock Exchange and information for registered and beneficial shareholders to exchange their pre-Consolidation for post-Consolidation Common Shares.

The Company also announces that Mr. Marcel Aubut is no longer a member of the Board of Directors effective today, November 16, 2015.

About Aeterna Zentaris

Aeterna Zentaris is a specialty biopharmaceutical company engaged in developing and commercializing novel treatments in oncology, endocrinology and women's health.  For more information, visit www.aezsinc.com.

SOURCE Aeterna Zentaris Inc.

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