Karo Bio's annual general meeting
KARO BIO'S ANNUAL GENERAL MEETING Dividend At Karo Bio's Annual General Meeting, April 26, 2000, it was decided that no dividend is to be paid for the fiscal year 1999. Board Dana M. Fowlkes new election Lars Gatenbeck re-election Bertil Hållsten re-election Torben Jørgensen new election Peter Kushner re-election Lars Ingelmark re-election Per-Olof Mårtensson re-election Dan Sten Olsson re-election Leon E. Rosenberg new election John D. Baxter deputy, re-election Jan-Åke Gustafsson deputy, re-election Per Otteskog deputy, re-election At the Board Meeting following the Annual Meeting, Per-Olof Mårtensson was elected Chairman of the Board. Torben Jørgensen took office as President. Nomination Committee Dan Sten Olsson, Per-Olof Mårtensson and Kenth Pettersson were elected Nomination Committee. Articles of Association The Annual General Meeting adopted new Articles of Association, implying that the share capital shall be no less than 30 MSEK and no more than120 MSEK. The Board shall consist of not less than five members and not more than nine members with up to three deputies. Decision on increasing the share capital The Annual General Meeting decided * To increase the share capital with no more than 11.471.465 SEK through an issue in kind of maximum 2.294.293 shares directed to the shareholders of Novalon Pharmaceutical Corporation. * To issue a convertible debt note with 88.064 detachable warrants as a component of the Company's acquisition of Novalon, the share capital can by that increase by 440.320 SEK. * To issue a convertible debt note with 85.000 detachable warrants within the scope of an incentive program to the staff, the share capital can by that increase by 425.000 SEK. * To authorize the Board to resolve on an issue of new shares with or without deviation from the shareholders' preferential rights of no more than 600.000 shares, the share capital can by that increase by 3.000.000 SEK. Huddinge, April 27, 2000 KARO BIO AB (publ) Information For further information, please contact Per-Olof Mårtensson, phone +46 8 608 60 20, 0709-415400 or Håkan Hallberg, Vice President Finance & Administration, phone +46 8 608 60 06, 070-483 38 11 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/04/27/20000427BIT00420/bit0001.doc http://www.bit.se/bitonline/2000/04/27/20000427BIT00420/bit0002.pdf