Annual General Meeting of Q-Med AB (publ)

ANNUAL GENERAL MEETING OF Q-MED AB (publ) · All members of the Board were re-elected. · No dividend for the financial year 2000. · Issue of 130,000 subscription options to senior managers and key people. · Authorization for the Board to issue a maximum of 1,280,000 new shares in order to allow the possible acquisition of a company was renewed. · The Annual General Meeting of Q-Med AB (publ) was held at Smålands nation in Uppsala on May 3, at 5 p.m. All the decisions that were made were unanimous and in line with the Board's proposals. Board and fee Bengt Ågerup, Tomas Billing, Göran Carstedt, Anders Milton, Björn Odlander and Robert Wikholm were re-elected as members of the Board. The meeting decided that a Board fee of SEK 300,000 should be paid for the period 2001/2002, to be divided in accordance with the decision of the Board. At the Board meeting following election which was held after the Annual General Meeting Bengt Ågerup was elected chairman of the Board. Bengt Ågerup will not receive a Board fee, but rather salary for the time spent on his work. For 2001 this will amount to approximately SEK 640,000. Disposition of earnings In accordance with the Board's proposal the meeting decided that no dividend would be paid for the financial year 2000. Subscription options A decision was taken to issue a maximum of 130,000 options, where each option gives the right to subscribe for one new share in Q-Med. The shares can be subscribed for from October 15, 2004 to March 31, 2005. The striking price amounts to SEK 418.00. A limited group of senior managers and key people in the Q-Med Group will be invited to acquire options, the number of which will be decided on an individual basis, but a maximum of 20,000 options each. The president is not included in the options program. Extension of the time for the issuing of personnel options At the extraordinary general meeting held on November 6, 2000, it was decided to issue a maximum of 120,000 personnel options to employees in senior management positions in and advisors linked to the business activities of the Q-Med Group in USA. Each personnel option gives the right to acquire one share in the company. According to the decision the personnel options were to be issued during the period up until and including December 15, 2000. Up until and including December 15, 2000 65,000 personnel options were issued. In order to be able to utilize the total number of personnel options, the financial risk of which is covered through options already issued for subscription for new shares, the Annual General Meeting decided to extend the time for the issuing of the personnel options up until December 31, 2001. A further maximum of 55,000 personnel options can thereby be issued. Authorization for the Board to issue shares in connection with the possible acquisition of a company The meeting authorized the Board to decide to make a new share issue, on one or more occasions up until the time of the next Annual General Meeting, of in total a maximum of 1,280,000 shares, corresponding to approximately 5 percent of the company's share capital. The same authorization, which has not been utilized, was given to the Board at the extraordinary general meeting held on November 6, 2000, for the time up until the Annual General Meeting. The new issue may deviate from the shareholders' pre-emptive rights and may be paid for both in cash or in kind. The reason for the possible deviation from the shareholders' pre-emptive rights is to prepare the ground for a possible company acquisition paid for in Q-Med's own shares and to secure the company's capital requirements. Auditors The auditors remain those elected by the Annual General Meeting in 1999, the authorized public accountants Hans Karlsson and Lennart Jakobsson, both from KPMG. Addresses held at the meeting At the meeting public addresses were made by the President, Per Olof Wallström, and Q-Med's founder Bengt Ågerup. Per Olof Wallström commented on the interim report which had been issued earlier in the day. Bengt Ågerup discussed Q-Med's NASHA technology and visions concerning its use. May 3, 2001 Uppsala, Sweden Q-Med AB (publ) Per Olof Wallström, President and CEO Queries should be addressed to Per Olof Wallström, President and CEO, on +46(0)18-474 90 00 or +46(0)70-974 90 70. Q-Med is a rapidly growing and profitable biotechnology and medical device company that develops, produces and markets medical implants. All products are based on the company's patented technology for the production of NASHA - Non-Animal Stabilized Hyaluronic Acid. Q-Med's operations focus on four areas, Esthetics, Orthopedics, Uro-Gynecology, and Cell Therapy and Encapsulation. The products RESTYLANE, RESTYLANE Fine Lines and PERLANE are used for the filling out of lips and facial wrinkles and today account for the majority of sales. The development of MACROLANE for breast augmentation is ongoing. DUROLANE, Q-Med's product for the treatment of osteoarthritis in the knee-joint, is in the clinical documentation phase. DEFLUX is a product which has been approved in Europe for the treatment of vesicoureteral reflux (malformation of the urinary bladder) in children and stress urinary incontinence in women. Since July 2000 Q-Med has held a majority interest in the American biotechnology company Ixion Biotechnology, Inc., which carries out research within cell therapy for diabetes. Q-Med today has 220 employees, with just above 150 at the company's production facility and head office in Uppsala, 20 at Ixion and the remainder in wholly owned foreign subsidiaries. The Q-Med share has been listed on the O-list of the Stockholm Stock Exchange since December 1999. Q-Med AB (publ), Seminariegatan 21, SE-752 28 Uppsala, Sweden. Corporate identity number 556258-6882. Tel: +46(0)18-474 90 00. Fax: +46(0)18-474 90 01. E-mail: info@q- med.com. Home page: www.q-med.com ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/05/03/20010503BIT01020/bit0003.doc http://www.bit.se/bitonline/2001/05/03/20010503BIT01020/bit0003.pdf