TopoTarget A/S
Symbion
Fruebjergvej 3
DK 2100 Copenhagen
Denmark
Tel: +45 39 17 83 92
Fax: +45 39 17 94 92
CVR-nr: 25695771
www.topotarget.com
To OMX Nordic Exchange Copenhagen
Announcement No. 12-08 / Copenhagen, April 10, 2008
Passing of TopoTarget A/S Annual General Meeting
TopoTarget held its Annual General Meeting today Thursday April 10, 2008 at
Axelborg, Vesterbrogade 4A, DK-1620 Copenhagen V, Denmark.
At the meeting the chairman of the board, Håkan Åström, and the Chief Executive
Officer, Peter Buhl Jensen, presented the report on the company's activities
during 2007. The company's Chief Financial Officer, Leif Hamø presented the
annual report for 2007 endorsed by the auditors. The report was approved and
discharge was given to the board of directors and management.
The proposal to carry the company's 2007 result forward to next year was
approved.
The following members of the board of directors were re-elected for a term of
one year: Håkan Åström, Jesper Zeuthen, Jeffrey H. Buchalter, Anders Gersel
Pedersen, Ingelise Saunders, Torbjörn Bjerke, Peter Buhl Jensen.
Deloitte was re-appointed as the company's auditor.
The following proposals were adopted by the Annual General Meeting:
• Authorisation to the board of directors to allow the company to acquire
treasury shares within the 10% limit set out in section 48 of the Danish Public
Companies Act. The shares can be acquired at a price corresponding to the
listed price plus/less 5% at the time of the purchase. The authorisation shall
be applicable until and including the company's Annual General Meeting in 2009.
• The proposal to include a new article 6(b) in the articles of association
authorising the board of directors to issue up to a total of 1,350,000 warrants
to employees, management, board members, consultants or advisors to the company
and its subsidiaries without pre-emptive rights for the company's shareholders.
• The proposal to amend article 9, section 4 of the articles of association as
a consequence of a change of the Danish Public Companies Act under which it is
required that callings for the company's general meetings are published in the
computer information system of the Danish Commerce and Companies Agency.
• Proposal to include a new article 6(c) in the articles of association
following the adoption of general guidelines for incentive remuneration for
members of the company's board of directors and executive management in
compliance with Section 69b of the Danish Public Companies Act.
TopoTarget A/S
For further information, please contact:
Ulla Hald Buhl Telephone +45 39 17 83 92
Director IR & Communications Mobile +45 21 70 10 49
Background information
About TopoTarget
TopoTarget (OMX: TOPO) is a biotech company, headquartered in Denmark and with
subsidiaries in the US, Switzerland, Germany and the UK, dedicated to finding
''Answers for Cancer'' and developing improved cancer therapies. TopoTarget is
founded and run by clinical cancer specialists and combines years of hands-on
clinical experience with in-depth understanding of the molecular mechanisms of
cancer. Focus lies on highly predictive cancer models and key cancer targets
(including HDACi, NAD+, mTOR, FasLigand and topoisomerase II inhibitors) and a
strong development foundation has been built. TopoTarget has a broad portfolio
of small molecule pre-clinical drug candidates and nine drugs (both small
molecules and protein based) are in clinical development, including both novel
anti-cancer therapeutics and new cancer indications for existing drugs.
Savene®/Totect™ were approved by EMEA in 2006 and the FDA in 2007 and is
TopoTarget's first product on the market. For more information, please refer to
www.topotarget.com.
TopoTarget Safe Harbour Statement
This announcement may contain forward-looking statements, including statements
about our expectations of the progression of our preclinical and clinical
pipeline including the timing for commencement and completion of clinical
trials and with respect to cash burn guidance. Such statements are based on
management's current expectations and are subject to a number of risks and
uncertainties that could cause actual results to differ materially from those
described in the forward-looking statements. TopoTarget cautions investors
that there can be no assurance that actual results or business conditions will
not differ materially from those projected or suggested in such forward-looking
statements as a result of various factors, including, but not limited to, the
following: The risk that any one or more of the drug development programs of
TopoTarget will not proceed as planned for technical, scientific or commercial
reasons or due to patient enrolment issues or based on new information from
non-clinical or clinical studies or from other sources; the success of
competing products and technologies; technological uncertainty and product
development risks; uncertainty of additional funding; TopoTarget's history of
incurring losses and the uncertainty of achieving profitability; TopoTarget's
stage of development as a biopharmaceutical company; government regulation;
patent infringement claims against TopoTarget's products, processes and
technologies; the ability to protect TopoTarget's patents and proprietary
rights; uncertainties relating to commercialization rights; and product
liability expo-sure; We disclaim any intention or obligation to update or
revise any forward-looking statements, whether as a result of new information,
future events, or otherwise, unless required by law.
