Biohit Oyj comments on the claims presented in public by a member of Biohit board of directors, Mr. Liu Feng
Biohit Oyj Press Release 26.4.2021 at 11.00 am local time (EEST)
Background
It is the general policy of Biohit Oyj not to comment on market speculations or claims presented in public. A member of the Biohit Board of Directors, Mr. Liu Feng, without prior contact with the company, has presented in public (Helsingin Sanomat, HS Visio, Kiinalainen juttu, 24.4.2021) claims about Biohit, and we feel compulsory to respond to some of the claims presented by Mr. Liu Feng in the newsprint.
Mr. Liu Feng is the CEO of Biohit HealthCare (Hefei) Co. Ltd and also a member of the Board of Directors of Biohit Oyj. Biohit HealthCare (Hefei) Co. Ltd is the single biggest shareholder of Biohit if measured by the number of shares (32,87% of the shares) and it operates as the exclusive distributor of certain products of Biohit in China.
Claims presented in public and confidentiality
The claims presented in public by Mr. Liu Feng reflect his private thinking and do not represent the official views of Biohit.
Biohit considers it is harmful to all parties for Mr. Liu Feng to start a public discourse on the internal and confidential affairs of Biohit on one hand, and the bilateral confidential issues related to the distribution agreement on the other hand. Biohit requires that the interests of the company and individual shareholders be kept strictly separated, in accordance with the Finnish Companies Act. In the limited liability company, the responsibility of the Board of Directors is to promote the interests of the company and make sure, for its own part, that the demand of an equal treatment of all shareholders will be realized in full.
The relationships between the company and the Chinese distributor
In the past, Biohit HealthCare (Hefei) Co. Ltd was a joint venture of Biohit Oyj and Anhui Wisdom-Win Investment Co. Ltd. In 2016, Biohit withdrew from the joint venture, concurring the signing of the agreement between Biohit and Biohit HealthCare (Hefei) Co. Ltd:n concerning the exclusive distribution rights in the Chinese markets.
Biohit and Biohit HealthCare (Hefei) Co. Ltd. have had disagreements as Biohit requires Biohit HealthCare (Hefei) Co. Ltd. to comply with the terms of the agreements between the companies. Biohit hopes that the disagreements will be resolved amicably.
The Corporate Governance
Biohit’s Board of Directors is assembled regularly, and the corporate governance model of the company follows the Companies Act and rules and regulations of Nasdaq Helsinki. The details of the company’s governance model are described in the annually published corporate governance statement. The model of corporate governance of Biohit deviates in some parts from the Finnish corporate governance code of the listed companies and these nonconformities appear in the statement.
The Annual General Meeting is held in accordance with the Finnish Companies Act, and at the event all shareholders have the right to receive information, present their views and impact decision in accordance with the Finnish Companies Act.
Biohit considers that due to his long experience, Osmo Suovaniemi has excellent capabilities in successfully undertaking his responsibilities as Chairman of the Board and also as a deputy of the CEO. Biohit endeavors to promote equality and deters all type of discrimination, including that based on age.
Additional information:
Riitta Rautakoura, Communications Manager, Biohit Oyj
tel. +358 9 773 861
investor.relations@biohit.fi
www.biohithealthcare.com
Biohit Oyj in brief
Biohit Oyj is a globally operating Finnish biotechnology company. Biohit’s mission is "Innovating for Health” – we produce innovative products and services to promote research and early diagnosis. Biohit is headquartered in Helsinki, Finland, and has subsidiaries in Italy and the United Kingdom. Biohit’s series B share (BIOBV) is quoted on NASDAQ OMX Helsinki, Small cap/Healthcare. www.biohithealthcare.com