Karo Bio's Annual General Meeting
KARO BIO'S ANNUAL GENERAL MEETING At Karo Bio AB's Annual General Meeting on Wednesday April 21, 2004 the following was resolved. Dividend No dividend is to be paid for the financial year 2003. Board of Directors Johan Claesson re-election Dana M. Fowlkes re-election Lars Ingelmark re-election Ulla Litzén re-election Per-Olof Mårtensson re-election Björn Nilsson re-election Leon E. Rosenberg re-election John D. Baxter deputy, re-election Jan-Åke Gustafsson deputy, re-election At the Board Meeting following the Annual General Meeting, Per-Olof Mårtensson was elected Chairman of the Board. Nomination Committee The Meeting resolved that the three largest shareholders, not being represented in the Board of Directors, shall appoint one representative each, which together with the Chairman of the Board shall be members of the nomination committee in respect of the 2005 annual general meeting. The representatives shall be appointed and announced no later than in conjunction with the company's quarterly report for the third quarter 2004. Huddinge, April 22, 2004 KARO BIO AB (publ) For further information, please contact Björn Nilsson, President and CEO, phone +46 8 608 60 20 Bertil Jungmar, Chief Financial Officer, phone +46 8 608 60 52 Facts about Karo Bio Karo Bio has operations in Sweden. The Company employs 95 people. Karo Bio has been listed on the Stockholm stock exchange (Reuters: KARO.ST) since 1998 and maintains a leading position in the field of drug discovery focused on nuclear receptors. Nuclear receptors are validated drug targets for a number of clinical indications and the Company uses proprietary technologies for the development of novel and improved therapies for major markets. Karo Bio has drug discovery programs in several therapeutic areas including men and women's health care, metabolic disorders such as obesity, cardiovascular disease, diabetes, dermatology and ophthalmology. Karo Bio collaborates with major pharmaceutical companies for development of products and marketing. In these collaborations Karo Bio receives upfront payments, R&D funding, milestone payments as well as royalties on net sales when products reach the market. Karo Bio has strategic pharmaceutical drug discovery collaborations with Bristol-Myers Squibb, Merck & Co., Inc. and Wyeth Pharmaceuticals. This press release is also available on www.karobio.com and www.waymaker.net ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/04/22/20040422BIT00160/wkr0001.doc http://www.waymaker.net/bitonline/2004/04/22/20040422BIT00160/wkr0002.pdf