Basilea shareholders approve all proposals of the Board of Directors at the Annual General Meeting
Basel, Switzerland, April 10, 2019 – Basilea Pharmaceutica Ltd. (SIX: BSLN) reported that shareholders approved all proposals of the Board of Directors at today’s Annual General Meeting (AGM) for the financial year 2018.
The shareholders approved the annual report, the financial statements and the consolidated financial statements for the financial year 2018, and approved the discharge of the members of Basilea’s Board of Directors and Management Committee. They also approved carrying forward the accumulated deficit and re-elected PricewaterhouseCoopers AG, Basel, as auditors.
The shareholders re-elected Domenico Scala as Chairman and Dr. Martin Nicklasson, Dr. Nicole Onetto, Ronald Scott, Steven D. Skolsky and Dr. Thomas Werner as members of Basilea’s Board of Directors. In addition, Dr. Nicklasson, Mr. Skolsky and Dr. Werner were re-elected as members of the Compensation Committee and Dr. Caroline Cron was re-elected as Independent Proxy. The terms of all these individuals last until the end of the AGM 2020.
The shareholders approved the renewal of the authorization to increase the share capital by up to CHF 2 million until April 2021.
The shareholders also approved the proposed maximum aggregate amount of the compensation for the Board of Directors for the period until the AGM 2020, the maximum aggregate amount of fixed compensation for the Management Committee for the period of July 1, 2019 to June 30, 2020, and the maximum aggregate amount of variable compensation for the Management Committee for the period from January 1, 2019 to December 31, 2019. In a non-binding advisory vote, the shareholders endorsed the aggregate amount of the Management Committee’s variable compensation for the financial year 2018.
Basilea’s CEO David Veitch in his presentation to the shareholders stated that 2018 was an important and successful year in the implementation of the company’s long-term growth strategy. Revenues from the marketed products continued to increase strongly and there was significant progress in the R&D pipeline. In particular with derazantinib, which was in-licensed during the year and reported promising interim data from the ongoing registrational phase 2 study in intrahepatic cholangiocarcinoma (iCCA) in early 2019.
At the AGM, 25.6 percent of the total voting rights were represented.
About Basilea
Basilea Pharmaceutica Ltd. is a commercial stage biopharmaceutical company, focused on the development of products that address the medical challenges in the therapeutic areas of oncology and anti-infectives. With two commercialized drugs, the company is committed to discovering, developing and commercializing innovative pharmaceutical products to meet the medical needs of patients with serious and life-threatening conditions. Basilea Pharmaceutica Ltd. is headquartered in Basel, Switzerland and listed on the SIX Swiss Exchange (SIX: BSLN). Additional information can be found at Basilea's website .
Disclaimer
This communication expressly or implicitly contains certain forward-looking statements, such as "believe", "assume", "expect", "forecast", "project", "may", "could", "might", "will" or similar expressions concerning Basilea Pharmaceutica Ltd. and its business, including with respect to the progress, timing and completion of research, development and clinical studies for product candidates. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of Basilea Pharmaceutica Ltd. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Basilea Pharmaceutica Ltd. is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
For further information, please contact:
| Peer Nils Schröder, PhD Head of Corporate Communications & Investor Relations |
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