May 6, 2015

Press release from Genovis AB (publ) Annual General Meeting May 5, 2015

Regulatory

The Annual General Meeting adopted the following resolutions:

  • The balance sheet and income statement were adopted after the Meeting resolved to reduce the statutory reserve by SEK 6,178,264 to cover the loss so that SEK 0 is carried forward.

  • The Board and the Chief Executive Officer were discharged from liability.

  • The Board shall consist until the next AGM of five ordinary members without deputies.

  • Ordinary members Kenth Petersson, Jacob Engellau, Mikael Lönn and Lena Mårtensson Wernrud were re-elected. Sarah Fredriksson was elected to serve as a new Board member. Sarah Fredriksson was elected Chairperson of the Board.  Erik Walldén declined re-election.

  • Remuneration will be paid to the Board of Directors in the amount of SEK 75,000 to Board members and SEK 150,000 to the Chairperson of the Board.   

  • Remuneration to the auditors will be paid on approved account.                                        

  • A Nomination Committee will be formed with representatives of the four largest shareholders at September 30, 2015.

  • Guidelines for remuneration to the Chief Executive Officer and other senior executives were adopted in accordance with the Board’s proposal.

  • The Meeting resolved to reduce share capital by SEK 3,276,847.80 for allocation to the unrestricted fund.

  • The Meeting resolved to amend the Articles of Association so that the share capital shall be not less than five million two hundred fifty thousand (SEK 5,250,000) kronor and not more than twenty-one million (SEK 21,000,000) kronor and that the number of shares that may be issued by the company shall be not less than twenty-one million (21,000,000) and not more than eighty four million (84,000,000).

  • The Meeting resolved to approve the Board’s proposal to conduct a preferential rights issue in which three (3) existing shares entitle the holder to subscription for two (2) new shares at a subscription price of SEK 1. As a result of this decision share capital could increase by a maximum of SEK 3,640,942 through the issuance of up to 14,563,768 shares.

  • The Meeting decided on a directed share issue to the guarantors of the rights issue on the same terms as the rights issue. As a result of this resolution share capital could increase by a maximum of SEK 113,338.75 through the issuance of a maximum of 453,355 shares. Payment for the issuance shall be by set-off.

Swedish Shareholders’ Association, representing 176 shares, protested against the decision.

  • The AGM resolved on the authorization to issue shares with or without preferential rights for existing shareholders. As a result of this resolution, share capital could increase by a maximum of SEK 1,850,000 through the issuance of a maximum of 7,400,000 shares.

Swedish Shareholders’ Association, representing 176 shares, protested against the decision.


For more information, please contact: Fredrik Olsson, CEO, Genovis AB Tel: 0046 (0)46 -101233 fredrik.olsson@genovis.com

ABOUT GENOVIS

Genovis’ business concept is to develop, produce and market innovative technologies that facilitate and enable development of new treatment methods and diagnostics for customers in the medical device and pharmaceutical industries. The Group consists of Genovis AB and the subsidiary GeccoDots AB. Genovis develops and sells unique enzymes in innovative product formats that facilitate development and quality control of and biological drugs. GeccoDots uses nanotechnology to produce a new type of contrast agent that is used in medical imaging.

Genovis shares are listed on NASDAQ Stockholm First North, and Consensus is Certified Adviser for the Company, t: 46 (0)31-745 50 00


This press release is a translation of the Swedish original. In the event of any discrepancy between this translation and the Swedish original, the Swedish version shall prevail.


Release
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