Bulletin from the annual general meeting of Xspray Pharma AB (publ)
Solna, 23 May 2019
The following resolutions were passed at the annual general meeting (the “AGM”) of Xspray Pharma AB (publ) (“Xspray”) on May 23 2019, in Stockholm.
Adoption of income statement and balance sheet for the financial year 2018 and discharge from liability
The AGM resolved to adopt the income statement for the financial year 2018 as well as the balance sheet and consolidated balance sheet as of 31 December 2018. The members of the board of directors and the managing director were discharged from liability for the financial year 2018.
Allocation of profit or loss
The AGM resolved, in accordance with the board of directors’ proposal, that no dividend shall be paid for 2018 and that the results of the company shall be carried forward.
Election of board members, auditors, fees to the board of directors and auditors
The AGM resolved, in accordance with the nomination committee’s proposal, on re-election of Michael Wolff Jensen, Hans Arwidsson, Maris Hartmanis, Carl-Johan Spak and Torbjörn Koivisto, and election of Gunnar Gårdemyr and Christine Lind, as members of the board of directors for the period until the end of the next annual general meeting. Michael Wolff Jensen was re-elected as the chairman of the board of directors. The audit firm KPMG AB was elected auditor of the company for the period until the end of the next annual general meeting.
The AGM further resolved on remuneration to the board of director in accordance with the nomination committee’s proposal. The AGM also resolved, in accordance with the nomination committee’s proposal, that the remuneration to the auditor shall be paid in accordance with approved statement of costs.
Nomination committee for the next annual general meeting
The AGM resolved, in accordance with the nomination committee’s proposal, on principles for appointing the nomination committee. In short, the principles imply that the nomination committee shall comprise the chairman of the board of directors together with one representative of each of the three largest shareholders, based on ownership in the company as of 30 September.
Authorisation to issue new shares
The AGM resolved, in accordance with the board of directors’ proposal, to authorise the board of directors, at one or several occasions and for the period up until the next annual general meeting, to resolve to increase the company’s share capital by issuing new shares. Such share issue resolution may be carried out with or without deviation from the shareholders’ preferential rights and with or without provisions for contribution in kind, set-off or other conditions. The authorisation may only be utilised to the extent that it corresponds to a dilution of not more than ten per cent of the total number of shares outstanding at the time of the general meeting’s resolution on the proposed authorisation.
For further information, please contact:
Per Andersson, CEO, Xspray Pharma AB (publ)
Mobile: +46 (0) 706 88 23 48
The informationwas submitted for publication, through the agency of the contact person set out above, at 2.15 p.m. CEST on 23 May 2019.
About Xspray Pharma
Xspray Pharma AB (publ) is a product development company with multiple product candidates in clinical development. Xspray uses its innovative, patented RightSize technology to develop improved and generic versions of marketed drugs, primarily protein kinase inhibitors (PKIs) for the treatment of cancer. The segment is the second largest in oncology, and drug prices are very high.
The company´s innovative technology allows Xspray Pharma to gain entry as the first competitor to today’s original drugs before the secondary patents expire. Xspray’s goal is to become the leader in the development of improved drugs or generic versions of PKIs already marketed for the treatment of cancer, which numbered 39 in 2018. The company’s leading product candidates, HyNap-Dasa, HyNap-Sora and HyNap-Nilo, are stable amorphous versions of the three blockbuster cancer drugs Sprycel® (dasatinib), Nexavar® (sorafenib) and Tasigna® (nilotinib), respectively. The launch of the first product candidate, HyNap-Dasa, is planned to take place in 2021. The substance patent for the original drug Sprycel® (dasatinib) expires at the end of 2020, and the secondary patents in 2026, which offers Xspray’s HyNap-Dasa a period of five years of semi-exclusivity before other competitors gain access to the market.
The company has patented manufacturing technology, equipment and the resulting products. The shares in Xspray Pharma are traded on Nasdaq First North Stockholm.
Redeye AB is Xspray Pharma’s Certified Adviser
+46 (0)8 121 576 90