Report from the annual general meeting of Wilson Therapeutics AB (publ)
On 17 May 2017, the annual general meeting of Wilson Therapeutics AB (publ) was held. Among other resolutions, the meeting resolved:
- that no dividend shall be paid and that the company’s accumulated loss shall be carried forward;
- to discharge the members of the board of directors and the managing director from liability;
- that remuneration to the board of directors shall be paid with, in total, SEK 1,100,000, to be distributed with SEK 300,000 to the chairman of the board, SEK 200,000 to the board member Hans Schikan and with SEK 150,000 to each of the other board members, excluding Birgitte Volck, who will receive remuneration under an incentive program (see below). In addition, remuneration shall be paid with SEK 65,000 to the chairman of the audit committee and remuneration committee, respectively, and with SEK 45,000 to each of the other committee members for their work in the respective committee;
- on the re-election of Dina Chaya, Andrew Kay, Genghis Lloyd-Harris, Bali Muralidhar and Hans Schikan and on the new election of Björn Odlander and Birgitte Volck as board members;
- on the re-election of Andrew Kay as chairman of the board; and
- on the re-election of Ernst & Young AB (with Björn Ohlsson as auditor in charge) and the election of Anna Svanberg as auditors of the company.
The meeting also resolved, in accordance with the board’s proposal, to implement a new long term incentive program for certain senior executives and key employees in the Wilson Therapeutics group (“LTIP 2017”). LTIP 2017 is a three-year performance based program under which the participants will be granted, free of charge, share awards that entitle to in total not more than 135,000 shares in Wilson Therapeutics, provided that certain conditions relating to the company’s operational development and share price development are met.
The meeting further resolved, in accordance with the proposal from Wilson Therapeutics’ nomination committee, to implement a similar performance based long term incentive program for the newly elected board member Birgitte Volk (“Board LTIP 2017”). Board LTIP 2017 is a three-year performance based program under which performance based share awards will be granted free of charge, which entitle to not more than 20,100 shares in Wilson Therapeutics, provided that certain conditions relating to the share price development are met.
In order to ensure delivery of shares under the above-mentioned programs, the meeting further resolved to issue not more than 155,100 warrants for subscription and subsequent transfer of subscribed shares to the participants in the respective incentive program.
The meeting finally resolved to authorize the board, for the period until the next annual general meeting, to adopt decisions, whether on one or several occasions and whether with or without pre-emptive rights for the shareholders, to issue new shares, provided however that such issues must not exceed ten percent of the total number of shares outstanding in the company as of the date of the annual general meeting.
About Wilson Therapeutics
Wilson Therapeutics is a biopharmaceutical company, based in Stockholm, Sweden, that develops novel therapies for patients with rare diseases. Wilson Therapeutics’ lead product, WTX101, is in development as a novel treatment for Wilson Disease. A Phase 2 clinical study has been successfully completed and preparations for a pivotal Phase 3 study are ongoing. Wilson Therapeutics is listed in the Mid Cap segment on Nasdaq Stockholm with the stock ticker WTX.
Visit www.wilsontherapeutics.com for more information.
For further information contact:
Anders Martin-Löf, CFO, Wilson Therapeutics AB
Telephone: +46 8 796 00 00
Email: anders.martin-lof@wtx.se
Wilson Therapeutics AB (publ)
Corp. Reg. No. 556893-0357
Kungsgatan 3
SE-111 43 Stockholm
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