SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): December 6, 2012
(Exact Name of Registrant as specified in its charter)
887 Great Northern Way, Suite 101, Vancouver, B.C.
Canada, V5T 4T5
(Address of principal executive offices)
Registrants telephone number, including area code: (604) 707-7000
(Registrants name or former address, if change since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Item 2.05. Costs Associated with Exit or Disposal Activities.
On December 6, 2012, QLT Inc. (the Company) issued a press release indicating that the Company has determined to reduce the size of the Companys workforce by 42%. The affected employees will leave the Company during the first half of 2013. The Company expects to record a restructuring charge of approximately $2.0 million relating to this reduction in force. The Company estimates that the total cash expense will be approximately $2.0 million, consisting of expenses related to one-time severance payments, termination benefits and outplacement support.
The full text of the Press Release is set forth in Exhibit 99.1 and is incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits.
Pursuant to the rules and regulations of the Securities and Exchange Commission, the attached exhibit is deemed to have been furnished to, but not filed with, the Securities and Exchange Commission:
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Date: December 6, 2012