Lund, Sweden – 25 April 2013 – BioInvent International AB (OMXS: BINV) BioInvent’s Annual General Meeting on 25 April resolved on a reduction of the company’s share capital and the statutory reserve for the purpose of covering loss while at the same time better adapt the size of the share capital to the company’s business. The AGM further resolved to implement an employee incentive program and to authorize the Board of Directors to issue new shares. Dharminder Chahal and Jonas Jendi were elected as new Board members. The AGM voted in favour of adopting the income statements and balance sheets for the Group and the parent company, and decided that the accumulated loss of SEK -17,140,719 should be carried forward. In accordance with the Board’s proposal, the AGM resolved on the reduction of the share capital, without retirement of shares and without repayment to the shareholders. The reduction means that the quotient value of the shares is reduced by SEK 0.23, from SEK 0.50 to SEK 0.27. The purpose is to cover the accumulated loss accounting-wise, while at the same time better adapting the size of the share capital to the company’s business. The AGM discharged the Board members and the CEO from liability, reelected the ordinary board members Lars Backsell, Lars Ingelmark, Elisabeth Lindner and Björn O. Nilsson, and newly elected Dharminder Chahal and Jonas Jendi. Björn O. Nilsson was reelected Chairman of the Board. Further, the AGM resolved that the Board’s fees shall remain unchanged at SEK 400,000 for the Chairman of the Board and SEK 160,000 for each of the other members of the Board not employed by the Company. In addition hereto, it was decided that the fee for the Chairman of the Audit Committee shall amount SEK 50,000, that the fee for each of the other members in the Audit Committee shall amount to SEK 40,000 and that the fee for each of the members in the Remuneration Committee shall amount to SEK 20,000. Fee for Committee work shall however not be paid to the Chairman of the Board. The AGM also resolved in accordance with the Board’s proposal on guidelines for remuneration of executive management. Furthermore, the AGM authorized the Board of Directors to resolve on the issue of new shares, with or without a deviation from the shareholders’ preferential right, of a maximum number of shares which corresponds to 15 per cent of the registered share capital, for the purpose of increasing the company’s financial flexibility, to add new company owners of strategic importance and/or the acquisition of other companies or businesses. Last, in accordance with the Board's proposal, the AGM resolved to implement a long term incentive program in the form of an employee option program, comprising all of the employees of the BioInvent group. The new Employee Incentive Program 2013/2018 shall include a maximum of 900,000 options. -- END -- To the editors: About BioInvent BioInvent International AB, listed on the NASDAQ OMX Stockholm (BINV), is a research-based pharmaceutical company focused on discovery and development of innovative antibody-based drugs against cancer. The Company's pipeline currently includes three product candidates for the treatment of cancer. The company's competitive position is underpinned by n-CoDeR®, a proprietary antibody development platform. The scope and strength of this platform is also used to develop antibody-based drugs in collaboration with partners who finance the development of the new drug, and provide BioInvent the right to milestone payments and royalties on sales. These partners include Bayer HealthCare, Daiichi Sankyo, Mitsubishi Tanabe and Servier. More information is available at www.bioinvent.com. For further information, please contact: Cristina Glad Björn O. Nilsson President and CEO Chairman of the board +46 (0)46 286 85 51 +46 (0)70-218 15 00 +46 (0)708 16 85 70 cristina.glad@bioinvent.com BioInvent International AB (publ) Co. reg. No. 556537-7263 Visiting address: Sölvegatan 41 Mailing address: 223 70 LUND Phone: +46 (0)46 286 85 50 info@bioinvent.com www.bioinvent.com Legal disclaimer The press release contains statements about the future, consisting of subjective assumptions and forecasts for future scenarios. Predictions for the future only apply as the date they are made and are, by their very nature, in the same was as research and development work in the biotech segment, associated with risk and uncertainty. With this in mind, the actual outcome may deviate significantly from the scenarios described in this press release. Information disclosed in this press release is provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. The information was submitted for publication at 12.45 p.m. CET, on 25 April, 2013.
BioInvent International AB Annual General Meeting
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