<PAGE>
FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
REPORT OF FOREIGN ISSUER
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
Dated April 23, 1999
PHOENIX INTERNATIONAL LIFE SCIENCES INC.
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(TRANSLATION OF REGISTRANT'S NAME INTO ENGLISH)
2350 COHEN STREET
SAINT LARUENT, QUEBEC CANADA H4R 2N6
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F Form 40-F X (commenced in calendar
---- ---- year 1998)
Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information to
the Commission pursuant to Rule 12g3- 2(b) under the Securities Exchange Act of
1934.
Yes No X
--- ---
If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): ______________
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
PHOENIX INTERNATIONAL LIFE SCIENCES INC.
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(Registrant)
Date: APRIL 23, 1999 By: /S/ JEAN-YVES CALOZ
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Jean-Yves Caloz
Senior Vice President, International
Finance and Acquisitions
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EXHIBIT 99
PRESS RELEASE
PHOENIX INTERNATIONAL ANNOUNCES CEO SUCCESSION PROCESS
Montreal, Friday, April 23, 1999: Phoenix International announced today that
Dr. John Hooper has decided to step down from the CEO position on or before
January 1, 2000, pending the appointment of a successor. The Board of
Directors has appointed a Search Committee to identify potential successors
from both within and outside of the company. Meanwhile, Dr. Hooper will
continue as Chairman and CEO. Subsequent to the appointment of a new CEO, Dr.
Hooper will remain a member of Phoenix's Board of Directors, and is expected
to continue with the company in a scientific role. He will also continue to
be closely associated with Phoenix's scientific software division.
Dr. Hooper commented:
"At the beginning of 1998, I informed members of the Board of Directors
that at some time in the year 2000 I would like the opportunity to
include more scientific content in my job. Thus, in mid-1998 we entered
into a revised contract that made provision for possible transition to
a different role with Phoenix at the beginning of 2000. I have now
worked out an agreement with the Board to gradually change the focus of
my activities and to eventually step down as CEO after a suitable
successor has been appointed. This is to allow me to focus more on
science, where my roots are, and less on the business aspects of CRO
activities.
"We believe Phoenix is now the 5th largest CRO worldwide. It has global
Phase II-IV capability and in this area was ranked second of the major
CROs in a recent CenterWatch survey. Our company arguably has the
world's largest Phase I business with units in the USA, Canada and
Europe, and it has what we believe is the world's largest bioanalysis
volume and a rapidly growing drug discovery support business. Through
the pending Chrysalis acquisition, Phoenix will own a genomics company
and world scale preclinical operations. Thus, Phoenix will soon be a
global full service CRO.
"The task of continuing to grow an established global full service CRO
business, such as today's Phoenix, is different from the
entrepreneurial situation involving a major acquisition program,
combined with rapid organic growth, for which I have been responsible
over the last few years. This, and my desire to return to a more
scientific role, are the main reasons for my decision. I am, however,
looking forward to the remainder of my tenure as CEO and working with
the company to ensure a smooth transition."
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Mr. Neal McCarthy, a senior external member of Phoenix's Board of Directors
commented:
"The thanks of all our shareholders and employees should be extended to
John Hooper for his visionary leadership during the last 10 years. He
has taken the company from a group of 20 people in temporary offices in
Montreal in 1989, to be a leader in many aspects of CRO activity,
employing approximately 2,400 scientists, managers and support staff in
16 countries (subsequent to the pending Chrysalis transaction). It is a
tribute to Dr. Hooper's entrepreneurial talents and business acumen
that the company is now poised for global growth, and also has a strong
Canadian business base that will allow its original core operations to
continue to expand in a new 150,000 sq ft building that will come on
line this fall. We believe Phoenix is widely viewed as the "innovative
CRO", reflecting Dr. Hooper's insistence that outstanding and creative
science be the basis for business success, a tradition Phoenix intends
to maintain with his continued assistance."
This release contains "forward-looking" statements regarding future results and
events, including statements regarding expected future revenues, earnings and
growth rates and goals and operating plans of management. Phoenix's actual
future results may differ significantly from the results discussed in the
forward-looking statements contained in this release. Factors that may cause
such a difference include, but are not limited to: the inability of Phoenix to
win new business at the levels required; the cancellation or delay of contracts;
risks associated with the management of growth and the ability to attract and
retain employees; risks of integrating newly acquired businesses; competition;
delays in the consummation of the Chrysalis acquisition; failure to realize
fully expected costs savings from the Chrysalis acquisition; excess costs
relating to the downsizing of Chrysalis; any claims for patent infringement;
unanticipated costs in connection with Year 2000 conversion; the ability to
obtain future financing; adverse regulatory developments; foreign exchange rate
fluctuations; and uncertainty surrounding the Euro.
FOR MORE INFORMATION, PLEASE CONTACT DAVID MOSZKOWSKI, C.A.
Senior Vice-President and Chief Financial Officer
Phoenix International Life Sciences Inc.
Tel: (514) 333-0033 Fax: (514) 335-8351
E-mail: [email protected]
