Lundbeck held its Annual General Meeting on 24 March 2020 at the company’s registered office
Valby, Denmark, 24 March 2020 - H. Lundbeck A/S (Lundbeck) announced today that the report by the Board of Directors was adopted and the annual report was approved at the annual general meeting.
The proposal to distribute a dividend of 31% of the net profit for the accounting year 2019, corresponding to DKK 4.10 per share, or a total dividend of DKK 816 million, was adopted.
Lars Søren Rasmussen, Lene Skole-Sørensen, Lars Erik Holmqvist, Jeremy Max Levin, Jeffrey Berkowitz and Henrik Andersen were re-elected to the Board of Directors. Immediately after the general meeting, the Board of Directors elected Lars Søren Rasmussen as Chairman and Lene Skole-Sørensen as Deputy Chairman of the Board of Directors.
The Board of Directors of Lundbeck will hereafter comprise:
- Lars Søren Rasmussen (Chairman)
- Lene Skole-Sørensen (Deputy Chairman)
- Lars Erik Holmqvist
- Jeremy Max Levin
- Jeffrey Berkowitz
- Henrik Andersen
- Ludovic Tranholm Otterbein (employee representative)
- Henrik Sindal Jensen (employee representative)
- Rikke Kruse Andreasen (employee representative)
After having elected its Chairman and Deputy Chairman, the Board of Directors appointed members for the Audit Committee, the Remuneration and Nomination Committee and the Scientific Committee.
Henrik Andersen (chairman), Lars Søren Rasmussen and Lars Erik Holmqvist were elected as members of the Audit Committee. Lars Søren Rasmussen (chairman), Lene Skole-Sørensen and Jeffrey Berkowitz were elected as members of the Remuneration and Nomination Committee. Jeremy Max Levin (chairman), Lene Skole-Sørensen and Jeffrey Berkowitz were elected as members of the Scientific Committee.
The general meeting approved the remuneration for the Board of Directors for the year 2020.
PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab was elected as the company's auditor.
The proposal to give the Board of Directors authorization until the next annual general meeting to let the company acquire treasury shares of a total nominal value of up to 10% of the share capital was adopted. The purchase price for the relevant shares may not deviate by more than 10% from the price quoted on NASDAQ Copenhagen A/S at the time of the acquisition.
The proposal from the Board of Directors to adopt the Remuneration Policy for the Board of Directors and Executive Management was adopted.
The proposal from the Board of Directors to authorize the Board of Directors to increase the share capital of the Company with up to nominally DKK 100,000,000 with or without preemption rights for the shareholders in the period until 23 March 2025 and thereby to amend Articles 4.1, 4.2 and 4.3 of the Articles of Association was adopted.
The proposal from the Board of Directors to amend the standard agenda for the annual general meeting to include an advisory vote on approval of the Remuneration Report and thereby to amend Article 8.1 of the Articles of Association was adopted.
The Chairman of the general meeting was authorized to file for registration of the resolutions passed at the general meeting with the Danish Business Authority.
No other business was on the agenda at the annual general meeting.
The Board of Directors
|Palle Holm Olesen
|Vice President, Investor Relations
|Senior Director, Corporate Communication
|+45 30 83 24 26
|+45 36 43 40 00
About H. Lundbeck A/S
H. Lundbeck A/S (LUN.CO, LUN DC, HLUYY) is a global pharmaceutical company specialized in brain diseases. For more than 70 years, we have been at the forefront of neuroscience research. We are tirelessly dedicated to restoring brain health, so every person can be their best.
An estimated 700 million people worldwide are living with brain diseases and far too many suffer due to inadequate treatment, discrimination, a reduced number of working days, early retirement and other unnecessary consequences. Every day, we strive for improved treatment and a better life for people living with brain diseases – we call this Progress in Mind.
Read more at www.lundbeck.com/global/about-us/progress-in-mind.
For additional information, we encourage you to visit our corporate site www.lundbeck.com and connect with us on Twitter at @Lundbeck and via LinkedIn.
Safe Harbor/Forward-Looking Statements
The above information contains forward-looking statements that provide our expectations or forecasts of future events such as new product introductions, product approvals and financial performance.
Such forward-looking statements are subject to risks, uncertainties and inaccurate assumptions. This may cause actual results to differ materially from expectations and it may cause any or all of our forward-looking statements here or in other publications to be wrong. Factors that may affect future results include interest rate and currency exchange rate fluctuations, delay or failure of development projects, production problems, unexpected contract breaches or terminations, government-mandated or market-driven price decreases for Lundbeck's products, introduction of competing products, Lundbeck's ability to successfully market both new and existing products, exposure to product liability and other lawsuits, changes in reimbursement rules and governmental laws and related interpretation thereof, and unexpected growth in costs and expenses.
Certain assumptions made by Lundbeck are required by Danish Securities Law for full disclosure of material corporate information. Some assumptions, including assumptions relating to sales associated with product that is prescribed for unapproved uses, are made considering past performances of other similar drugs for similar disease states or past performance of the same drug in other regions where the product is currently marketed. It is important to note that although physicians may, as part of their freedom to practice medicine in the US, prescribe approved drugs for any use they deem appropriate, including unapproved uses, at Lundbeck, promotion of unapproved uses is strictly prohibited.
H. Lundbeck A/S
Ottiliavej 9, 2500 Valby, Denmark
+45 3630 1311