Uppsala, Sweden, 2014-10-01 09:14 CEST (GLOBE NEWSWIRE) --
Establishment of Balance Sheet and Income Statement
The Annual General Meeting established the Balance Sheet, Income Statement, Consolidated Accounts and Financial report. It was resolved that the share premium reserve of SEK 640,924,000, accumulated result of SEK -267,254,582, and result for the year SEK -105,125,616, in total SEK 268,543,802, shall be carried forward.
The Board of Directors and auditors
The Annual General Meeting discharged the Board of Directors and the Chief Executive Officer from liability for the fiscal year 2013/2014. The Annual General Meeting made a resolution that the Board shall consist of six regular members without deputies. The Annual General Meeting re-elected the Board members Joel Citron, Horst Domdey, Alexander Kotsinas, Bo Cederstrand, and Julian Aleksov. The meeting also elected Hans Sundin as a new regular Member of the Board until the next Annual General Meeting. Joel Citron was elected as Chairman of the Board. Ernst & Young AB, with principal auditor Björn Ohlsson, was elected as auditors.
Remuneration to the Board and auditors
The Annual General Meeting established that a member of the Board not employed by the company shall receive remuneration amounting to SEK 150,000. The Chairman of the Board shall receive payment of SEK 175,000. Remuneration to a Board member may, by special agreement with Oasmia Pharmaceutical AB, be invoiced by a company wholly-owned by the Board member. In that case, the invoiced fee will be increased by the amount of social security contributions and VAT. Remuneration to the auditors shall be paid according to bill.
Guidelines for remuneration to senior managers
The Annual General Meeting approved the guidelines for remuneration to senior managers proposed by the Board.
Nomination committee
The Annual General Meeting approved the proposal concerning criteria for the selection of a nomination committee for the Annual General Meeting 2015.
The Board’s proposal for the authorization of repurchase and transfer the company´s own shares
The Annual General Meeting made a resolution, in accordance with the proposal by the Board, to authorize the Board of Directors to resolve to repurchase, on one or several occasions prior to the next annual general meeting, as many shares as may be purchased without the company’s holding at any time exceeds 10 per cent of the total number of shares in the company. The shares shall be purchased on NASDAQ OMX Stockholm and only at a price within the price range registered at any given time, i.e. the range between the highest bid price and the lowest offer price.
The Board of Directors shall also be authorized to resolve, on one or several occasions during the period until the next annual general meeting, to transfer all shares held by the company, via NASDAQ OMX Stockholm or in connection with the acquisition of companies, businesses or parts thereof on market terms, however, not to a price lower than the current stock market value. Transfer of shares on the NASDAQ OMX Stockholm may be made at a price within the price range registered at any given time, i.e. the range between the highest bid price and the lowest offer price.
Authorization for the Board to make decisions on issue of new shares and convertible debt instruments
The Annual General Meeting made a resolution, in accordance with the proposal by the Board, to authorize the Board to make, at one or more occasions until the next Annual General Meeting, with or without deviation from shareholders’ preferential rights, new share issues for cash payment and/or in kind or offset, or otherwise in accordance with chapter 13 § 7 of the Companies Act, and new issues of warrants for cash payment and/or in kind or offset, or otherwise in accordance with chapter 14 § 5 of the Companies Act, and new issues of convertibles for cash payment and/or in kind or offset, or otherwise in accordance with chapter 15 § 5 of the Companies Act.
The total number of shares issued supported by the authorization may not exceed 20,000,000. The total number of warrants may not exceed 20,000,000 shares. The total number of convertibles issued supported by the authorization may not exceed more convertibles than enables conversion to 20,000,000 shares.
About Oasmia Pharmaceutical AB
Oasmia Pharmaceutical AB develops new generations of drugs in the field of human and veterinary oncology. The company’s product development aims to create and manufacture novel nanoparticle formulations and drug-delivery systems based on well-established cytostatics which, in comparison with current alternatives, show improved properties, reduced side-effects, and expanded applications. The company’s product development is based on its proprietary in-house research and company patents. Oasmia is listed on NASDAQ OMX Stockholm (OASM) and the Frankfurt Stock Exchange (OMAX, ISIN SE0000722365).
Mikael Widell, Vice President Communications
Mobile: +46 70 311 99 60
E-mail: mikael.widell@oasmia.com
