Year end report 2002
Tripep AB (publ) - Preliminary year-end report for 2002 * A new Board of Directors was elected at the extraordinary meeting of shareholders held on 17 September 2002. The new Board consists of Rolf L. Nordström, Erik Nerpin, Matti Sällberg and Anders Vahlne. * At the Board meeting following election on 17 September, Rolf L. Nordström was appointed Chairman of the Board and Johan Ihre became the new President. * A candidate drug (CD) has been identified within the ChronVac- C(TM) project. Preparations have begun for the clinical phase, and discussions are also under way with industrial partners. * Research is continuing into the antiviral activity of GPG and its metabolites. * Tripep's Board and management both hold the view that the Swedish biotech industry would benefit from greater consolidation among companies with a similar or complementary focus. Discussions are therefore under way with a number of partners concerning potential consolidation of operations. Remuneration for such consolidation may take the form of non-cash acquisitions, in which case the matter will be raised at the Annual General Meeting of shareholders. * An application for remission of the loan from Industrifonden has been submitted. * The Swedish district court has granted permission for a reduction in the share premium reserve for transfer to non-restricted equity. * The burn-rate has been substantially reduced. * The intention of the board is to propose the forthcoming AGM to implement a share repurchase program, whereby Tripep offers the shareholders to sell every tenth share for a price of 30 SEK. The board proposes that the repurchased shares can be used as payment in conjunctions with acquisitions of companies and/or projects. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/01/31/20030131BIT00220/wkr0001.doc http://www.waymaker.net/bitonline/2003/01/31/20030131BIT00220/wkr0002.pdf