This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Acasti Reports Results Of Annual And Special Meeting

LAVAL, Quebec, June 28, 2013 (GLOBE NEWSWIRE) -- Acasti Pharma ("Acasti" or the "Corporation") (Nasdaq:ACST) (TSX-V:APO), a Neptune Technologies & Bioressources Inc.'s ("Neptune") subsidiary, announces that at its Annual and Special Meeting (the "Meeting"), held on June 27, 2013, the Corporation's shareholders voted in favour of all items put forth at the Meeting and outlined in the Corporation's management proxy circular dated May 22, 2013 (the "Circular") available on SEDAR at .

Changes to the Board of Directors

Shareholders re-elected all of the existing director nominees, and elected three new directors, Mr. Valier Boivin, Mr. Jean-Claude Debard and Mr. Harlan W. Waksal (Executive VP Business & Scientific Affairs at Acasti).

"On behalf of Acasti's Board of Directors and management team, I would like to welcome our new Board members," commented Mr. Henri Harland, President and CEO of Acasti. "We will benefit from their leadership and experience as we continue to lay the groundwork for future growth," added Mr. Harland.

Equity Incentive Plan

On June 27, 2013 (the "Grant Date"), the Corporation also granted Restricted Share Units ("RSUs") under its Equity Incentive Plan (the "Plan"), the terms and conditions of which are more fully described in the Circular under "Particulars of matters to be acted upon" under "Approval of Equity Incentive Plan".

The Board of Directors has granted to its Directors and Officers, respectively, a total of 60,000 and 700,000 RSUs under the Plan. Each RSU will allow its holder to acquire one (1) fully paid and non-assessable class A common share of the Corporation (each a "Share") upon achievement of all restrictive conditions attached to such unit. Forty percent (40%) of RSUs, representing 304,000 RSUs, will vest automatically at the rate of either 25% or 33%, as the case may be, on every six-month anniversary of the Grant Date, and sixty percent (60%) of RSUs, representing 456,000 RSUs, will start vesting at the same rates mentioned above (25% or 33% as the case may be) on every six-month anniversary from the date of release, which release will only begin upon achievement of performance objectives identified by the Corporation.  Performance objectives are based in part on the Company's specific and global goals, but also on each holder's individual performance.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs