Biovail's Board of Directors approves the convening of a special shareholder meeting to authorize a 2-for-1 stock split.TORONTO, Canada--(BUSINESS WIRE)--November 17, 1995--Biovail Corporation International (AMEX AMEX See: American Stock Exchange , TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :BVF BVF Biovail Corporation (stock symbol) BVF Berufsverband der Frauenärzte eV (Muenchen, Germany) BVF Bearing Versus Frequency ) today announced that its Board of Directors has approved a special shareholder meeting, to be held January 2, 1996, to receive shareholder authorization for a 2-for-1 stock split of its Common Stock. Following shareholder approval and the filing of articles of amendment, shareholders will be given proper notification and will be able to receive new stock certificates reflecting the stock split. Biovail currently has approximately 8,450,000 common shares outstanding. In addition, the Company will also seek shareholder approval to authorize an employee stock purchase plan. Final details of the stock split and employee stock purchase plan, along with time and location of the special shareholder meeting, will be disseminated to shareholders by November 30, 1995. Eugene Melnyk Eugene Melnyk (born May 27, 1959 in Toronto, Ontario) is a Canadian businessman of Ukrainian origin who now resides in Barbados. He is the chairman and chief executive officer of Biovail Corporation. , Chairman of the Board commented, We are extremely pleased with the Company s recent performance. We feel a stock split at this time will reward our existing shareholders by increasing the liquidity of the stock and provide an attractive investment opportunity for potential new shareholders. In addition, we are excited to have the opportunity to offer our employees the additional benefit of a stock purchase plan in appreciation of their commitment to the continued success of Biovail. Biovail Corporation International is an international full-service pharmaceutical company, engaged in the formulation, clinical evaluation clinical evaluation Medtalk An evaluation of whether a Pt has symptoms of a disease, is responding to treatment, or is having adverse reactions to therapy , registration and manufacture of drug products utilizing advanced drug delivery technologies. CONTACT: Biovail Corporation International Eugene Melnyk, 416/285-6000 or Morgen-Walke Associates Investor Relations Investor relations The process by which the corporation communicates with its investors. : Donna Stein/ Sue Rodney/Courtney Levi Press: Stacy Berns, 212/850-5600 |
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