QLT Announces Shareholder Approval Of Matters Related To Strategic Merger And Record Date For Distribution Of Warrants

VANCOUVER, British Columbia, Nov. 07, 2016 (GLOBE NEWSWIRE) -- QLT Inc. (NASDAQ:QLTI) (TSX:QLT) (" QLT") announced today certain matters relating to the previously announced transactions (the " Transactions") contemplated in connection with an agreement and plan of merger dated as of June 14, 2016 (the " Merger Agreement") involving QLT and Aegerion Pharmaceuticals, Inc. (" Aegerion").

Shareholder Approval

QLT is pleased to announce that at a special meeting held earlier today, holders of its common shares approved each of the three proposals considered in connection with the Transactions, with (i) 97.70% of votes cast at the special meeting in favour of the issuance of securities by QLT required to complete the Transactions, (ii) 94.03% of the votes cast at the special meeting in favour of the proposed amendments to QLT's 2000 Incentive Stock Plan, and (iii) the following votes cast at the special meeting, and the applicable percentages, in favour of each of the four individuals who will serve as additional directors of QLT, conditional and effective on completion of the merger:
Nominee Votes For % Votes Withheld %
Mary T. Szela 34,525,151   97.66 % 825,703   2.34 %
Sandford D. Smith 28,708,885   81.21 % 6,641,969   18.79 %
Donald K. Stern 34,523,092   97.66 % 827,762   2.34 %
Anne VanLent 34,489,833   97.56 % 861,021   2.44 %

QLT has also been advised by Aegerion that at a special meeting of stockholders held earlier today, holders of shares of Aegerion's common stock approved a proposal to adopt the Merger Agreement.

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