The Annual General Meeting of ChronTech Pharma AB
The Annual General Meeting of ChronTech Pharma AB was held in Stockholm on April 16th, 2012.
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 2011.
Election of Board of Directors and Chairman of the Board and compensation to the Board
Thomas Lynch, Anders Vahlne, Matti Sällberg, William W Hall, John Climax, Prem Lachman and Simon Kukes 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 to William W Hall.
Authorisation to issue new shares, warrants and convertible debentures
The Meeting resolved to authorize the Board to resolve, at one or more occasions until the next Annual General Meeting, and with or without the shareholders pre-emption rights, to issue new shares, share warrants and/or convertible debentures. Payment shall be made in cash and/or in kind or by set-off or otherwise with conditions. The purpose of the authorization is to enable the Company to raise working capital. The reason for disapplaying the shareholders’ pre-emption rights is to facilitate the procurement of capital. If new issue of shares is paid in cash without the shareholders pre-emption rights the issuing conditions must be market oriented.
For more information, please contact:
Anders Vahlne, CEO and Head of Research, ChronTech Pharma AB
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 Nordic 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.