KARO BIO ANNUAL GENERAL MEETING At Karo Bio AB's Annual General Meeting on Wednesday April 11, 2007 the following was resolved. Dividend No dividend is to be paid for the financial year 2006. Board of Directors Dana M. Fowlkes re-election Lars Ingelmark re-election Laurent Leksell re-election Ulla Litzén re-election Per-Olof Mårtensson re-election Birgit Stattin Norinder new election Leon E. Rosenberg re-election Per Olof Wallström re-election Per-Olof Mårtensson was elected Chairman of the Board. Auditors PricewaterhouseCoopers AB were re-elected as auditors for the time until the end of the annual general meeting 2011. Nominating Committee The Meeting resolved that the four largest shareholders as of August 31, 2007, not being represented in the board of directors, shall appoint one representative each, which together with the chairman of the board shall be members of the nominating committee in respect of the 2008 annual general meeting. The representatives shall be appointed and announced no later than in conjunction with the company's quarterly report for the third quarter 2007. Principles for remuneration of executive management The Meeting resolved in accordance with the board's proposal to introduce guidelines for remuneration of executive management. KARO BIO AB For further information, please contact: Per Olof Wallström, President & Chief Executive Officer Telephone: +46 8 608 60 20 Per Otteskog, Senior Vice President Telephone: +46 8 608 60 18 Bertil Jungmar, Chief Financial Officer Telephone: +46 8 608 60 52. Facts about Karo Bio Karo Bio is a drug discovery and development company specializing in nuclear receptors for the development of novel pharmaceuticals with focus on metabolic diseases. Karo Bio has three clinical and four preclinical projects. The company has expanded from being a drug discovery company by adding in-house preclinical and clinical development resources and competence for development of drugs to treat metabolic diseases. The company has a strong project portfolio with innovative molecules that primarily targets diseases such as diabetes, atherosclerosis and dislipidemia. In all of these areas there are significant market opportunities and a growing need for new pharmaceuticals with new mechanisms of action. In addition to the proprietary projects Karo Bio has two strategic collaborations with international pharmaceutical companies and one biotech collaboration for development of innovative therapies for the treatment of common diseases. Karo Bio is listed on the Stockholm Stock Exchange since 1998 (Reuters: KARO.ST). This press release is also available online at: www.karobio.com and www.waymaker.net.
KARO BIO ANNUAL GENERAL MEETING
| Source: Karo Pharma AB
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