Annual General Meeting 2014 in Karo Bio AB

        Print
| Source: Karo Bio AB
STOCKHOLM, Sweden, May 8, 2014 – At todays Annual General Meeting in Karo Bio
the following main resolutions were passed.
The AGM voted in favour of adopting the income statements and balance sheets for
the Group and the parent company, and decided that fund at the disposal of the
general meeting, amounting to SEK 13,928,475, including the loss for the year
amounting to SEK -22,084,405, should be carried forward. Thus, it was resolved
that no dividend should be paid for the financial year.

The AGM further discharged the Board members and the CEO from liability,
reelected the ordinary board members Göran Wessman, Christer Fåhraeus, Per
-Anders Johansson and Sibylle Lenz and elected Anders Lönner and Thomas Hedner
as new Board members. Anders Lönner was elected Chairman of the Board.

Further, the AGM resolved that the Board’s fees shall remain unchanged at SEK
420,000 for the Chairman of the Board and SEK 150,000 for each of the other
members of the Board.

The accounting firm PwC was reelected as the Company’s auditor until the AGM
2015.

The AGM also resolved in accordance with the Board’s proposal on guidelines for
remuneration of executive management.

Last, the Board was authorized to, on one or several occasions prior to the next
annual general, resolve on new share issues. The number of shares to be issued
by virtue of the authorization shall not exceed 10 per cent of the registered
share capital (at the time of the share issue resolution). The new share may be
made with our without deviation from the shareholders’ pre-emption right and
with or without terms of issue in kind or set-off or other terms. The purpose of
the authorization is to increase the company’s financial flexibility and enable
acquisitions through payment with shares. If the board of directors resolves on
a share issue with deviation from the shareholders’ pre-emption right, the
reasons shall be to provide the company with new capital and/or new shareholders
of strategic importance for the company and/or acquisitions of other companies
or businesses. When deviating from the shareholders’ pre-emption right the basis
for the subscription price shall be on market terms. Other terms may be resolved
by the Board.

For further information, please contact:
Henrik Palm, CFO, mobile phone +46 70 540 40 14 or e-mail henrik.palm@karobio.se

About Karo Bio
Karo Bio is a research and development company focused on innovative drugs for
important medical needs. The world-leading knowledge of nuclear receptors as
target proteins for the development of pharmaceuticals and their related
mechanisms of action, are utilized for developing novel, more effective and
safer pharmaceuticals. Karo Bio is active in preclinical development focused on
the areas of neuropsychiatry, inflammation, autoimmune diseases and cancer. Karo
Bio is based in Huddinge, Sweden. The company has around 40 employees and is
listed on NASDAQ OMX Stockholm

Karo Bio publishes this information in accordance with the Swedish Securities
Markets Act. The information was submitted for publication on May 8, 2014, at
7:45 pm CET.

This press release is also available at www.karobio.com and
www.newsroom.cision.com