To NASDAQ OMX Copenhagen A/S
Announcement No. 06-12 / Copenhagen, April 11, 2012
Copenhagen, Denmark – April 11, 2012 – Topotarget A/S (NASDAQ OMX: TOPO) held its Annual General Meeting today at Symbion, Fruebjergvej 3, DK-2100 Copenhagen Ø.
At the meeting, Chairman of the board, Bo Jesper Hansen, and Chief Executive Officer, Francois Martelet, gave a report on the company's activities during the past year. The audited annual report was adopted and a resolution was passed to discharge the Board of Directors and the management from liability. It was resolved that the loss for the year of DKK 33 million be carried forward to next year through recognition in retained earnings.
Bo Jesper Hansen, Anker Lundemose, Ingelise Saunders, Jeffrey H. Buchalter, Per Samuelsson, Gisela Schwab, and Karsten Witt were re-elected for a period of one year. Deloitte, Statsautoriseret Revisionsaktieselskab was re-appointed as the company's auditors.
The Board of Directors was authorized to purchase treasury shares within a limit of 10% of the company’s share capital at a price corresponding to the listed price plus/less 5% at the time of the purchase. The Chairman of the meeting was authorized to apply for registration of the resolutions passed and to make any such amendments thereto as may be required by the Danish Commerce and Companies Agency as a condition for registration or approval.
Immediately after the general meeting the Board of Directors convened and elected Bo Jesper Hansen as Chairman.
Topotarget A/S
For further information, please contact:
Francois Martelet, CEO Direct: +45 39 17 83 41; Mobile: +45 51 32 83 41
Anders Vadsholt, CFO Direct: +45 39 17 83 45; Mobile: +45 28 98 90 55
Axel Mescheder, CMDO Direct: +45 39 17 83 14; Mobile: +45 51 55 71 66
Background information
About Topotarget
Topotarget (NASDAQ-OMX: TOPO) is an international biopharmaceutical company headquartered in Copenhagen, Denmark, dedicated to clinical development and registration of oncology products. Topotarget focuses, in collaboration with Spectrum Pharmaceuticals, Inc., on the development in pivotal studies of its lead drug candidate, belinostat, which has shown positive results as a monotherapy treating hematological malignancies and positive results in solid tumors. Belinostat may be used in combination with full doses of chemotherapy, and is in a pivotal trial within PTCL (peripheral T-cell lymphoma). For more information, please refer to www.topotarget.com.
Topotarget A/S Safe Harbor Statement
This announcement may contain forward-looking statements, including statements about our expectations of the progression of our preclinical and clinical pipeline including the timing for commencement and completion of clinical trials and with respect to cash burn guidance. Such statements are based on management's current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Topotarget A/S cautions investors that there can be no assurance that actual results or business conditions will not differ materially from those projected or suggested in such forward-looking statements as a result of various factors, including, but not limited to, the following: The risk that any one or more of the drug development programs of Topotarget A/S will not proceed as planned for technical, scientific or commercial reasons or due to patient enrolment issues or based on new information from non-clinical or clinical studies or from other sources; the success of competing products and technologies; technological uncertainty and product development risks; uncertainty of additional funding; Topotarget A/S' history of incurring losses and the uncertainty of achieving profitability; Topotarget A/S' stage of development as a biopharmaceutical company; government regulation; patent infringement claims against Topotarget A/S' products, processes and technologies; the ability to protect Topotarget A/S' patents and proprietary rights; uncertainties relating to commercialization rights; and product liability exposure. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, unless required by law.
