Thursday, April 12, 2018 @ 12:00 am
Pratteln, Switzerland, April 12, 2018 - Santhera Pharmaceuticals (SIX: SANN) announces that a large majority of shareholders approved all proposals by the Board of Directors at the Annual General Meeting (AGM) held today. Participating shareholders represented a total of 2'170'954 shares or 33.3% of the share capital.
"We are thankful to Santhera's shareholders for their continued support and confidence in our strategy and performance," said Elmar Schnee, Chairman of the Board of Directors. "For 2018, our Company is well positioned for further milestone achievements. Based on the sales performance in the first months of 2018, we confirm our expectation of strong double-digit sales growth for the full year. On the development side, preparation for regulatory filings for idebenone in Duchenne muscular dystrophy (DMD) and advancing the pipeline programs in the three therapeutic areas neuro-ophthalmologic, neuromuscular and pulmonary rare diseases are our priorities."
Approval of the 2017 Annual Report, results appropriation and allocation of reserves
The shareholders endorsed the Annual Report, the annual financial statements and the consolidated financial statements for 2017, the appropriation of the net result of CHF -7,300,395 to new account as well as the allocation of reserves from capital contributions to free reserves. Furthermore, the shareholders granted discharge to the members of the Board of Directors and Executive Management for the financial year 2017.
Sound capital structure supports strategic flexibility and implementation of plans
The shareholders approved the increase and extension of the authorized capital. With their consent, the shareholders maintain the financial flexibility of the Company and support its growth plans.
New headquarters in Pratteln
The shareholders agreed to the move of the legal domicile to Pratteln, Basel-Landschaft, where the Company has its new operational headquarters since February 2018.
Re-election of members of the Board of Directors
Shareholders re-elected Martin Gertsch, Philipp Gutzwiller, Thomas Meier, Elmar Schnee and Patrick Vink as members of the Board of Directors, each for a term of one year. In addition, shareholders re-elected Elmar Schnee as Chairman of the Board of Directors. Furthermore, the shareholders confirmed Elmar Schnee and Patrick Vink as members of the Compensation Committee.
Compensation Report and remuneration for Board and Executive Management approved
In a consultative vote, the shareholders endorsed the Compensation Report 2017. In three separate binding votes, Santhera's shareholders agreed to the maximum total amount of fixed compensation for members of the Board of Directors covering the period from the 2018 AGM to the 2019 AGM as well as the maximum total amount of fixed compensation 2019, variable compensation 2017 and conditional special compensation 2018 for the members of the Executive Management.
Details on the agenda items
The proposals and explanations about the agenda items are available on the Company's website at www.santhera.com/investors-and-media/investor-toolbox/shareholder-meetings. From the end of this week, the protocol of the Annual General Meeting 2018 will also be available.