ANNUAL GENERAL MEETING 2013 IN KARO BIO AB
STOCKHOLM, Sweden, May 7, 2013 – At today’s Annual General Meeting in Karo Bio the following main resolutions were passed.
The AGM voted in favour of adopting the income statements and balance sheets for the Group and the parent company, and decided that fund at the disposal of the general meeting, amounting to SEK 36,012,880, should be carried forward. Thus, it was resolved that no dividend should be paid for the financial year.
The AGM further discharged the Board members and the CEO from liability, reelected the ordinary board members Göran Wessman, Christer Fåhraeus, Per-Anders Johansson and Anders Waas, and newly elected Sibylle Lenz. Göran Wessman was reelected Chairman of the Board.
Further, the AGM resolved that the Board’s fees shall remain unchanged at SEK 420,000 for the Chairman of the Board and SEK 150,000 for each of the other members of the Board.
The accounting firm PricewaterhouseCoopers AB was reelected as the Company’s auditor until the AGM 2014.
The AGM also resolved in accordance with the Board’s proposal on guidelines for remuneration of executive management, and to adopt unchanged principles for the nomination committee, with the supplement that the principles shall remain in force until otherwise resolved.
Last, the Board of Directors was authorized to resolve, on one or several occasions prior to the next annual general meeting and with derogation from shareholders’ pre-emption right, on new share issues directed to Azimuth Opportunity Ltd for the purpose of being able to raise financing in accordance with the financing agreement that the Company has entered into with Azimuth and that was approved by the extraordinary general meeting in November 2010. The authorization further entails that the subscription price shall be determined in accordance with what is stated in the agreement, which shall not diverge from the market price of the Company’s shares by more than a market discount.
For further information, please contact:
Per Bengtsson, CEO, mobile +46 734 474 128 or e-mail per.bengtsson@karobio.se
About Karo Bio
Karo Bio is a pharmaceutical company focused on the research and development of innovative drugs for large medical needs. The company runs a number of drug development projects within the indication areas neuropsychiatry, inflammation, autoimmune diseases and cancer. An important foundation for the company’s activities is its unique knowledge of nuclear receptors as target proteins for the development of novel pharmaceuticals, as well as related mechanisms of action. Karo Bio is based in Huddinge, Sweden, has around 43 employees and is listed on NASDAQ OMX Stockholm.
Karo Bio publishes this information in accordance with the Swedish Securities Markets Act. The information was submitted for publication on May 7, 2013, at 7:30 pm CET.
This press release is also available at www.karobio.com and www.newsroom.cision.com