Annual General Meeting of Active Biotech ABMay 8, 2009 08:30 (CEST)
In accordance with the Board of Directors' proposal, it was resolved that no dividend would be paid.
In accordance with the Election Committee's proposal, the Board members Mats Arnhög, Klas Kärre, Magnhild Sandberg, Peter Sjöstrand and Peter Ström were re-elected. Tomas Nicolin was elected new member of the Board. Tomas Nicolin, born in 1954, holds a degree in business administration from the Stockholm School of Economics and MIT Sloan School. Tomas Nicolin has many years of experience of executive positions in the financial sector, most recently as President of the retirement pension insurance company Alecta (2004-2008) and President of the Third AP Fund (1998-2004). The Meeting also resolved to re-elect Mats Arnhög as Chairman of the Board.
Furthermore, in accordance with the Election Committee's proposal, the Meeting resolved that the Election Committee shall be composed of representatives for the three largest owners, as per September 30, as well as the Chairman of the Board.
The Meeting approved the Board's proposal concerning guidelines for remuneration to the President and other senior executives. The guidelines essentially conform to the principles applied to date.
In accordance with the Board's proposal, the Meeting also resolved on an issue of not more than approximately 12.8 million new shares with pre-emptive rights for the shareholders. The issue price is SEK 20 per share and four existing shares entitle to subscription for one new share. The record date for the right to participate in the issue is May 20, 2009. The subscription period extends from May 27 to June 10, 2009. A prospectus relating to the issue will be made public prior to the commencement of the subscription period.
Finally, in accordance with the Board's proposal, the Meeting resolved to authorize the Board, for a period that does not extend past the date of the next Annual General Meeting, to resolve on the issue of not more than six million new shares and/or convertibles with the corresponding dilution effect, with or without pre-emptive rights for the company's shareholders.
Lund, May 8, 2009
Active Biotech AB (publ)
President and CEO
About Active Biotech
Active Biotech AB (NASDAQ OMX NORDIC: ACTI), headquartered in Sweden, is a biotechnology company with R&D focus on autoimmune/inflammatory diseases and cancer. Projects in pivotal phase are laquinimod, an orally administered small molecule with unique immunomodulatory properties for the treatment of multiple sclerosis, as well as ANYARA for use in cancer targeted therapy, primarily renal cancer. Further key projects in clinical development comprise the three orally administered compounds TASQ for prostate cancer, 57-57 for SLE and RhuDex(TM) for RA. Please visit www.activebiotech.com for more information.
Active Biotech is required under the Securities Markets Act to make the information in this press release public. The information was submitted for publication at 08:30 am CET on May 8, 2009.
Active Biotech AB (org. no. 556223-9227)
P.O. Box 724, SE-220 07 Lund, Sweden
Tel +46 46-19 20 00
Fax +46 46-19 11 00