ALVAREZ & MARSAL CANADA INC.
March 4, 2021
The Liquidator announced that the interim distribution to Novelion’s registered shareholders as of January 16, 2020 (the “Interim Distribution”) will take place on or about March 11, 2021.
The Interim Distribution will consist of 2,185,238 American Depository Receipts (“ADRs”) of Amryt Pharma plc currently held in Novelion’s name with the depositary for such ADRs, representing approximately 84.5% of the ADRs currently held by Novelion. The ADRs will be distributed pursuant to the Interim Distribution at a ratio of one (1) ADR for every nine (9) Novelion shares held by a registered Novelion shareholder. Only whole ADRs will be distributed, and any fractional ADR entitlements will be rounded down. An amount equivalent to the market value of the fractional ADRs will be set aside for future distribution to those registered shareholders who would have been entitled to such amounts at the time of the Interim Distribution.
Please refer to the Press Release page for the full press release.
Notice to Shareholders of Novelion Therapeutics Inc. (“Novelion”):
As noted in Novelion’s press release issued on January 16, 2020, on that date, the Company’s transfer agent for its common shares closed the Company’s stock transfer books and discontinued recording transfers. As a result, as of January 16, 2020, registered shareholders are no longer able to transfer ownership of their shares.
Only registered shareholders on the Company’s stock transfer books (“Registered Holders”) as of the Effective Date are entitled to a pro-rata share of any distribution to shareholders in the Liquidation.
Any distributions made in the Liquidation will be paid and delivered only to Registered Holders as of the Effective Date. Beneficial holders of common shares will be not be entitled to receive any distributions in the Liquidation except through and from the applicable Registered Holder of their shares.
Shareholders whose shares in Novelion are held in a brokerage firm or with a securities dealer, trust company, bank or another similar organization, are encouraged to reach out to their broker, dealer, trust, bank or other agent with any questions relating to the processes or requirements for receiving any distributions to which they may be entitled.
Shareholders are not required to file any proofs of claim with the Liquidator. The Liquidator will be obtaining information regarding the Registered Holders directly from the transfer agent.
Significant updates in the Liquidation process will continue to be posted on the Liquidator’s website on a timely basis.
January 16, 2020
Pursuant to an order of the Supreme Court of British Columbia pronounced on January 9, 2020 (the “Liquidation Order”), on January 16, 2020 (the “Effective Date”), Alvarez & Marsal Canada Inc. was appointed Liquidator (the “Liquidator”) of Novelion Therapeutics Inc. (“Novelion”). Novelion also filed the Intent to Liquidate in accordance to the BC Business Corporations Act setting the commencement of the liquidation on the Effective Date.
The Supreme Court of British Columbia also granted an order on the same day approving the claims process to be followed in the Liquidation of Novelion, commencing on the Effective Date (the “Claims Process Order”).
Claims packages and additional information are available under the “Claims Process” section.