Lund, Sweden, April 29, 2021 - The Annual General Meeting ("AGM") of BioInvent International AB ("BioInvent") (Nasdaq Stockholm: BINV) resolved to elect Vincent Ossipow as new Board member and to re-elect the Board members Kristoffer Bissessar, Dharminder Chahal, Thomas Hecht, Leonard Kruimer and Bernd Seizinger.
The AGM voted in favor of adopting the income statements and balance sheets for the Group and the parent company for the financial year 2020 and decided that no dividend should be declared for the financial year 2020.
The AGM discharged the Board members and the CEO from liability, re-elected the Board members Kristoffer Bissessar, Dharminder Chahal, Thomas Hecht, Leonard Kruimer and Bernd Seizinger, and elected Vincent Ossipow as new Board member. Leonard Kruimer was re-elected Chairman of the Board.
The AGM resolved that the Board's fee shall amount to SEK 682,500 to the Chairman of the Board and SEK 325,000 to each of the other Board members, who are not employed by the company. In addition hereto, the AGM resolved on fees for committee work of (i) SEK 70,000 to the Chairman of the Audit Committee and SEK 50,000 to other members of the Audit Committee, (ii) SEK 35,000 to the Chairman of the Remuneration Committee and SEK 25,000 to other members of the Remuneration Committee, and (iii) SEK 70,000 to the Chairman of the Scientific Committee and SEK 50,000 to other members of the Scientific Committee.
The AGM resolved to adopt the report regarding compensation pursuant to Chapter 8, Section 53 a of the Swedish Companies Act in accordance with the Board of Directors' proposal.
Further, the AGM resolved, in accordance with the Board's proposal, to amend to the Articles of Association in order to be able to use the alternatives provided by the Swedish Companies Act to decide on proxy collection and postal voting.
Last, the AGM authorized the Board of Directors to resolve on the issue of new shares, on one or several occasions during the period up to the next annual general meeting. The number of shares to be issued by virtue of the authorization shall not entail a dilution effect of more than 20 per cent of the registered share capital after completed issue. The issue may take place with or without a deviation from the shareholders' preferential right and with or without provisions on contribution in kind or set-off or any other terms. The purpose of the authorization is to increase the company's financial flexibility and enable acquisitions by payment of shares. If the Board resolves on an issue with deviation from the shareholders' preferential right the reason may be to add new capital and/or new company owners of strategic importance to the company and/or the acquisition of other companies or businesses. At a deviation from the shareholders' preferential right, the issue rate shall be determined in accordance with market conditions. Other terms may be resolved by the Board.
The minutes from the AGM will be available on the Company's website, www.bioinvent.com.
BioInvent International AB (Nasdaq Stockholm: BINV) is a clinical-stage biotech company that discovers and develops novel and first-in-class immuno-modulatory antibodies for cancer therapy, with currently three drug candidates in four ongoing clinical programs in Phase 1/2 trials for the treatment of hematological cancer and solid tumors, respectively. The Company's validated, proprietary F.I.R.S.T™ technology platform simultaneously identifies both targets and the antibodies that bind to them, generating many promising new drug candidates to fuel the Company's own clinical development pipeline or for additional licensing and partnering.
The Company generates revenues from research collaborations and license agreements with multiple top-tier pharmaceutical companies, as well as from producing antibodies for third parties in the Company's fully integrated manufacturing unit. More information is available at www.bioinvent.com.
For further information, please contact:
Senior Director Investor Relations
+46 (0)46 286 85 50
BioInvent International AB (publ)
Co. Reg. No. Org nr: 556537-7263
Visiting address: Ideongatan 1
Mailing address: 223 70 LUND
Phone: +46 (0)46 286 85 50
The information was submitted for publication at 11:10 a.m. CEST on April 29, 2021.