Stockholm, Sweden, May 5, 2022 – BioArctic AB (publ) (Nasdaq Stockholm: BIOA B) today held its Annual General Meeting. Due to Covid-19, the Annual General Meeting was held through advance voting (so called postal voting) in accordance with temporary legislation. The following resolutions were adopted.
Adoption of the income statement and the balance sheet; allocation of result
The Annual General Meeting adopted the income statement and balance sheet for the company and for the group in accordance with submitted accounting documents. The Annual General Meeting further resolved to allocate the company’s result in accordance with the board’s proposal, i.e. that profits of SEK 786,806,766 shall be carried forward. The resolution entails that no dividend is paid for the financial year 2021.
Discharge from liability
The Annual General Meeting resolved to discharge the board members and the managing director from liability for the financial year 2021.
Election of board members and resolution on board remuneration
The ordinary board members Wenche Rolfsen, Ivar Verner, Håkan Englund, Pär Gellerfors, Lars Lannfelt, Lotta Ljunqvist, Mikael Smedeby and Eugen Steiner were re-elected as board members, all for a term of office extending until the end of the next annual general meeting. Wenche Rolfsen and Ivar Verner were re-elected as chairperson and deputy chairperson of the board, respectively.
The Annual General Meeting resolved, in accordance with the nomination committee’s proposal, on board remuneration and remuneration for work in the board’s committees, with the following allocation: SEK 750,000 to the chairperson of the board, SEK 300,000 to the deputy chairperson, SEK 250,000 to each of the other board members who are not employed by the company, SEK 100,000 to the chairperson of the audit committee, SEK 60,000 to each of the other members of the audit committee who are not employed by the company, SEK 60,000 to the chairperson of the remuneration committee, and SEK 40,000 to each of the other members of the remuneration committee who are not employed by the company. The resolution entails that the remuneration to the chairperson of the board has been adjusted compared to the previous term. The other remunerations to the board remain unchanged.
Auditor and resolution on remuneration to the auditor
The Annual General Meeting resolved, in accordance with the nomination committee’s proposal, to appoint the registered auditing firm Grant Thornton Sweden AB to be the auditor of the company for the period until the end of the next annual general meeting. Mia Rutenius will continue as auditor in charge. Fees to the auditor shall be paid in accordance with approved invoice.
Nomination committee and guidelines for the work of the nomination committee
The nomination committee’s proposal for principles for and the establishment of the nomination committee in preparation for the annual general meeting in 2023 was approved by the Annual General Meeting. Further, the nomination committee’s proposal to adopt instructions for the work of the nomination committee was approved by the Annual General Meeting.
Remuneration report regarding the financial year 2021
The Annual General Meeting resolved to approve the remuneration report for the financial year 2021.
Remuneration to senior executives
The Annual General Meeting resolved to adopt new guidelines for remuneration to senior executives in accordance with the board’s proposal.
Authorization for issues of shares, convertibles and warrants
The Annual General Meeting resolved to authorize the board of directors to resolve on issues of shares, convertibles and warrants in accordance with the board’s proposal. The resolution entails that the board is authorized to resolve, on one or several occasions during the period up to the next annual general meeting, to increase the Company’s share capital through issues of new shares, convertible instruments and/or warrants, with or without deviating from the shareholder’s preferential rights, and with or without provisions on payment by non-cash consideration and/or by way of set-off or other provisions. However, in the event of decisions deviating from the shareholders’ preferential rights, the board shall not be authorized to make decisions which increase the share capital by more than ten (10) per cent in relation to the existing share capital when the authorization was first used.
Amendment of the Articles of Association
The Annual General Meeting resolved to adopt new Articles of Association with the meaning that a new section is introduced in the Articles of Association, which enables the board to, in accordance with the Swedish Companies Act, collect proxies and before a general meeting resolve that the shareholders shall be entitled to exercise their voting rights by post before the general meeting.
For more information, please contact:
Oskar Bosson, VP Communications and Investor Relations, BioArctic AB
Tel: + 46 704 10 71 80
The information was released for public disclosure, through the agency of the contact persons above, on May 5, 2022, at 12.15 p.m. CET.
About BioArctic AB
BioArctic AB (publ) is a Swedish research-based biopharma company focusing on disease-modifying treatments and reliable biomarkers and diagnostics for neurodegenerative diseases, such as Alzheimer’s disease and Parkinson’s disease. BioArctic focuses on innovative treatments in areas with high unmet medical needs. The company was founded in 2003 based on innovative research from Uppsala University, Sweden. Collaborations with universities are of great importance to the company together with its strategically important global partner Eisai in Alzheimer disease. The project portfolio is a combination of fully funded projects run in partnership with global pharmaceutical companies and innovative in-house projects with significant market and out-licensing potential. BioArctic’s Class B share is listed on Nasdaq Stockholm Mid Cap (ticker: BIOA B). For more information about BioArctic, please visit www.bioarctic.com.