UPPSALA, Sweden, May 07, 2004 (PRIMEZONE) --Q-MED AB (publ):
-- Total dividend of SEK 13 per share. -- Mikael Kamras elected as new member of the Board.
The Annual General Meeting of Q-Med AB (publ) was held on May 6, 2004 at 5 p.m. on Q-Med's premises at Fyrisvallsgatan 7, Uppsala.
Dividend
The meeting decided that a dividend of SEK 13 per share shall be paid, of which SEK 3 comprises the regular dividend and SEK 10 an extra dividend.
Board and fee
The meeting decided, for the period up until the end of the next Annual General Meeting, to elect Mikael Kamras as a new member of the Board and to re-elect Hakan Edstrom, Goran Carstedt, Anders Milton, Pia Rudengren, Asa Roden and Bengt Agerup as members of the company Board.
At the Board meeting following the Annual General Meeting Goran Carstedt was appointed Chairman of the Board.
Furthermore, the meeting decided that Board fees of SEK 840,000 in total shall be paid for the period 2004/2005, comprising SEK 240,000 to the chairman of the Board and SEK 120,000 to each of the other members of the Board. Bengt Agerup does not receive a Board fee.
A fee shall be paid to the auditors Stefan Kyleback and Bjorn Ohlsson, Ernst & Young, in accordance with reasonable invoicing for the period up until the next Annual General Meeting.
Nominations committee
The Annual General Meeting elected Tomas Billing (chairman, re-election), Bjorn Odlander (new election) and Bengt Agerup (re-election) as members of the nominations committee. Furthermore, the meeting decided that a fee of SEK 60,000 shall be paid to the committee, to be distributed in accordance with the decision of the committee.
Proposal from the Swedish Shareholders' Association
The Swedish Shareholders' Association had requested in a letter that the Annual General Meeting make a decision on the question of setting up a nominations committee elected by the Annual General Meeting and of instructing the Board to set up an audit committee, and in the event that an audit committee already existed, that an account of the work and function of the remunerations committee be given at the Annual General Meeting. A nominations committee has already been appointed on the initiative of the Board at the Annual General Meeting in 2003. The tasks that would be carried out by an audit committee are carried out by the Board as a whole. An account of the work of the remunerations committee was given by Goran Carstedt on the initiative of the Board.
The proposal from the Swedish Shareholders' Association was rejected.
Queries should be addressed to:
Bengt Agerup, President and CEO, Ph:+46(0)70-974 90 25. Fredrik Hallstan, Manager, Investor Relations and Corporate Communications, Ph:+46(0)70-974 90 15.
Note: Q-Med AB operates under the name of Q-Med Scandinavia, Inc. in the USA.
Q-Med is a rapidly growing and profitable biotechnology/medical device company that develops, produces and markets medical implants. All products are based on the company's patented NASHA technology -- Non-Animal Stabilized Hyaluronic Acid. The products covered by the RESTYLANE trademark are used for the filling out of lips and facial wrinkles and for facial contouring and today account for the majority of sales. RESTYLANE is sold in over 70 countries and has been approved in the USA. DUROLANE, Q-Med's product for the treatment of osteoarthritis of the hip and knee joints, has been approved in Europe since May 2001. DEFLUX is a product which has been approved in Europe and the USA for the treatment of vesicoureteral reflux (malformation of the urinary bladder) in children. ZUIDEX for the treatment of stress urinary incontinence in women has been sold in Europe since July 2002. Q-Med today has 480 employees, with approximately 310 at the company's production facility and head office in Uppsala. The Q-Med share is listed on the Attract 40 list of the Stockholm Stock Exchange.
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