Cardiome Pharma Corp. Adopts Advance Notice Policy
NASDAQ: CRME TSX: COM
VANCOUVER, May 28, 2013 /PRNewswire/ - Cardiome Pharma Corp. (NASDAQ: CRME / TSX: COM) today announced that its board of directors has adopted an advance notice policy regarding the nomination of directors (the "Advance Notice Policy") effective May 17, 2013. The purpose of the Advance Notice Policy is to provide shareholders, directors and management of the Company with direction on the procedure for shareholder nomination of directors. The Advance Notice Provision is the framework by which the Company seeks to fix a deadline by which registered or beneficial holders of common shares of the Company must submit director nominations to the Company prior to any annual or special meeting of shareholders and sets forth the information that a shareholder must include in the notice to the Company for the notice to be in proper written form. No person will be eligible for election as a director of the Company unless nominated in accordance with the provisions of the Policy.
In the case of an annual meeting of shareholders, notice to the Company must be made not less than 30 days and not more than 60 days prior to the date of the annual meeting; provided, however, that in the event that the annual meeting is to be held on a date that is less than 60 days after the date on which the first public announcement of the date of the annual meeting was made, notice may be made not later than the close of business on the 10th day following such public announcement.
In the case of a special meeting of shareholders (which is not also an annual meeting), notice to the Company must be made not later than the close of business on the 10th day following the day on which the first public announcement of the date of the special meeting was made.
At the Company's annual general and special meeting to be held on June 28, 2013, the Company is seeking shareholder approval to amend the by-laws of the Company to include the provisions of the Advance Notice Policy.
About Cardiome Pharma Corp.
Cardiome Pharma Corp. is a biopharmaceutical company dedicated to the
discovery, development and commercialization of new therapies that will
improve the health of patients around the world. Cardiome has one
marketed product, BRINAVESSTM (vernakalant IV), approved in Europe and other territories for the
rapid conversion of recent onset atrial fibrillation to sinus rhythm in
adults.
Cardiome is traded on the NASDAQ Capital Market (CRME) and the Toronto Stock Exchange (COM). For more information, please visit our web site at www.cardiome.com.
Forward-Looking Statement Disclaimer
Certain statements in this news release contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 or forward-looking information under applicable
Canadian securities legislation that may not be based on historical
fact, including without limitation statements containing the words
"believe", "may", "plan", "will", "estimate", "continue", "anticipate",
"intend", "expect" and similar expressions. Forward- looking
statements may involve, but are not limited to, comments with respect
to our objectives and priorities for the remainder of 2013 and beyond,
our strategies or future actions, our targets, expectations for our
financial condition and the results of, or outlook for, our operations,
research and development and product and drug development. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
events or developments to be materially different from any future
results, events or developments expressed or implied by such
forward-looking statements. Many such known risks, uncertainties and
other factors are taken into account as part of our assumptions
underlying these forward-looking statements and include, among others,
the following: general economic and business conditions in the United
States, Canada, Europe, and the other regions in which we operate;
market demand; technological changes that could impact our existing
products or our ability to develop and commercialize future products;
competition; existing governmental legislation and regulations and
changes in, or the failure to comply with, governmental legislation and
regulations; availability of financial reimbursement coverage from
governmental and third-party payers for products and related
treatments; adverse results or unexpected delays in pre-clinical and
clinical product development processes; adverse findings related to the
safety and/or efficacy of our products or products; decisions, and the
timing of decisions, made by health regulatory agencies regarding
approval of our technology and products; the requirement for
substantial funding to expand commercialization activities; and any
other factors that may affect our performance. In addition, our
business is subject to certain operating risks that may cause any
results expressed or implied by the forward-looking statements in this
presentation to differ materially from our actual results. These
operating risks include: our ability to attract and retain qualified
personnel; our ability to successfully complete pre-clinical and
clinical development of our products; changes in our business strategy
or development plans; intellectual property matters, including the
unenforceability or loss of patent protection resulting from
third-party challenges to our patents; market acceptance of our
technology and products; our ability to successfully manufacture,
market and sell our products; the availability of capital to finance
our activities; and any other factors described in detail in our
filings with the Securities and Exchange Commission available at
www.sec.gov and the Canadian securities regulatory authorities at
www.sedar.com. Given these risks, uncertainties and factors, you are
cautioned not to place undue reliance on such forward-looking
statements and information, which are qualified in their entirety by
this cautionary statement. All forward-looking statements and
information made herein are based on our current expectations and we
undertake no obligation to revise or update such forward-looking
statements and information to reflect subsequent events or
circumstances, except as required by law.
SOURCE Cardiome Pharma Corp.
Help employers find you! Check out all the jobs and post your resume.