Correvio Pharma (CORV)

[Serfcorp]

Rotflmao

Cardiome gets ISS, Glass Lewis support for rollback

2013-03-19 16:23 ET - News Release

Mr. William Hunter reports

INDEPENDENT PROXY ADVISOR FIRMS ISS AND GLASS LEWIS RECOMMEND CARDIOME SHAREHOLDERS VOTE IN FAVOR OF SHARE CONSOLIDATION

Institutional Shareholder Services Inc. (ISS) and Glass Lewis & Co., two leading independent proxy research and advisory firms, have published reports recommending that Cardiome Pharma Corp. shareholders vote for a share consolidation resolution, authorizing the board of directors to effect, in its discretion, a share consolidation of the outstanding common shares, at a consolidation ratio of up to 10 common shares being consolidated into one common share, by amending Cardiome's articles of incorporation, subject to the board's authority to decide not to proceed with the share consolidation.

As outlined in detail in the special meeting of shareholders information circular, Cardiome's board believes that the share consolidation is the most effective means of avoiding a potential delisting of the corporation's common shares from the Nasdaq Capital Market, on which they are currently listed and quoted for trading in the United States. In addition to the objective of avoiding delisting from the Nasdaq, the board believes that the share consolidation could heighten the interest of the financial community in the corporation and potentially broaden the pool of investors that may consider investing or be able to invest in the corporation by increasing the trading price of the common shares and decreasing the number of outstanding common shares. It could also help to attract institutional investors who have internal policies that either prohibit them from purchasing stocks below a certain minimum price or tend to discourage individual brokers from recommending such stocks to their customers.

"I am pleased that ISS and Glass Lewis, two leading independent research and advisory firms, validate the views of Cardiome's board of directors that a share consolidation will be in the best interest of Cardiome," stated William Hunter, MD, director, interim president and chief executive officer of Cardiome.

Your vote is important to the company no matter how many shares you hold. For a proxy to be effective, it must be voted in advance of the special meeting and no later than 10 a.m. PT on April 1, 2013. Shareholders who require assistance in voting their proxy may direct their inquiries to Cardiome's proxy solicitation agent, CST Phoenix Advisors, at 1-800-398-1129 (toll-free in North America) or by e-mail.

Copies of the notice of special meeting of shareholders, information circular and related documents have been filed on the System for Electronic Document Analysis and Retrieval (SEDAR) and are available for viewing on the website. This information has also been filed on March 5, 2013, with the U.S. Securities and Exchange Commission and is available for viewing on SEC's website.

We seek Safe Harbor.