The Annual General Meeting of ChronTech Pharma AB
The Annual General Meeting of ChronTech Pharma AB was held in Stockholm on 30 March, 2011.
Annual Report and discharge from liability
The Company’s Income Statement and Balance Sheet were adopted and the Board of Directors and the Chief Executive Officer were discharged from liability for the financial year 2010.
Election of Board of Directors and Chairman of the Board and compensation to the Board
Thomas Lynch, Anders Vahlne, Matti Sällberg and William Hall were re-elected as members of the Board.
Thomas Lynch was re-elected as Chairman of the Board.
The Meeting resolved that directors’ fees of in total SEK 200,000 shall be payable.
Authorisation to issue new shares, warrants and convertible debentures
The Meeting resolved to authorize the Board to resolve, at one or more occasions prior to the next Annual General Meeting, to issue new shares, warrants and/or convertible debentures with or without preferential rights for the shareholders. Payment shall be made in cash, by set-off or through payment in kind.
The Meeting resolved a limit of USD 4 million with respect to issues without preference rights for existing shareholders. The existing shareholders shall within six months be offered to subscribe for new shares (or warrants/convertible debentures) at the same terms but limited to 50 per cent of the number of shares (or warrants/convertible debentures) that are issued without preferential rights.
Amendments of the Articles of Association
The Meetings resolved to amend the Articles of Association to include new provisions regarding notice of shareholders’ meetings. Notice of shareholders’ meetings shall be published in the Official Swedish Gazette (Post och Inrikes Tidningar) as well as on the Company’s website. At the time of the notice, an announcement with information that the notice has been issued shall be published in Svenska Dagbladet. Notice of the Annual General Meeting and of any Extraordinary General Meeting at which a proposal for amendment of the Articles of Association will be considered shall be issued no more than six and no less than four weeks prior to the Meeting. Notice of any other Extraordinary General Meetings shall be issued no more than six weeks and no less than three weeks prior to the Meeting.
For more information, please contact:
Anders Vahlne, CEO and Head of Research, ChronTech Pharma AB
Tel: +46 8 5858 1313, mobile phone: +46 709 28 05 28,
E-mail: anders.vahlne@ki.se
About ChronTech
ChronTech develops the therapeutic DNA vaccines ChronVac-C® and ChronVac-B drugs against chronic hepatitis C virus and hepatitis B virus infections, i.e. chronic infections with jaundice causing viruses which can lead to liver cirrhosis and liver cancer. ChronTech has also developed and further develops a patent pending new type of injection needle for a more effective uptake of DNA vaccines. ChronTech also have part ownership in the wound healing therapy ChronSeal®, and in the new platform technology RAS®. The ChronTech share is admitted to trade on First North. Remium AB is Certified Adviser for ChronTech. For more information, please visit: www.chrontech.se
In the event of any discrepancy between the Swedish and English versions of this press release, the Swedish version will take precedence.