Report from Orexo AB's annual general meeting, 26 April 2024
UPPSALA,
Election of the board of directors and auditor
The annual general meeting in
Fees to the board of directors and the auditor
The annual general meeting also resolved on fees to the board of directors in accordance with the nomination committee's proposal. The fees to the board of directors shall amount to
Further, the annual general meeting resolved on an additional board fee in accordance with the nomination committee's proposal to the independent board members
Nomination committee
The annual general meeting resolved to adopt procedures for the appointment of the nomination committee for the annual general meeting 2025 substantially in accordance with the same procedure as the preceding year.
Approval of income statement and balance sheets, appropriation of the company's profit or loss and discharge from liability
The annual general meeting approved the income statement and the balance sheet for the parent company, as well as the consolidated income statement and the consolidated balance sheet for the financial year 2023. It was resolved, in accordance with the board of directors' proposal, that there shall be no dividend for 2023 and that the results of the company shall be carried forward. The meeting also discharged the members of the board and the managing director from liability for the financial year 2023.
Authorization to issue new shares
The annual general meeting resolved to authorize the board of directors to resolve to issue new shares on one or several occasions until the next annual general meeting, with or without preferential rights for the shareholders, against cash payment or against payment through set-off or in kind, or otherwise on special conditions. However, such issue of shares must never result in the company's issued share capital or the number of shares in the company at any time, being increased by more than a total of 20 per cent. The purpose of the authorization is to enable the board to make corporate acquisitions, product acquisitions or to enter into collaboration agreements, or to raise working capital or broaden the shareholder base.
Authorization to repurchase and transfer shares
The annual general meeting resolved to authorize the board of directors to resolve to repurchase, on one or several occasions until the next annual general meeting, as many own shares as may be purchased without the company's holding at any time exceeding 10 per cent of the total number of shares in the company. Further, it was resolved to authorize the board of directors to resolve, on one or several occasions until the next annual general meeting, to transfer (sell) own shares.
The purpose of the authorization to repurchase own shares is to promote efficient capital usage in the company, to provide flexibility as regards the company's possibilities to distribute capital to its shareholders and for use in the context of the company's incentive plans. The purpose of the authorization to transfer own shares is to enable the board to make corporate acquisitions, product acquisitions or enter into collaboration agreements, or to raise working capital or broaden the shareholder base or for use in the context of the company's incentive plans.
Long-term incentive program LTIP 2024
The annual general meeting resolved, in accordance with the board's proposal, to adopt a new long-term incentive program for not more than 130 selected employees within the
Long-term incentive program LTIP Stay-on 2024
The annual general meeting resolved, in accordance with the board's proposal, to adopt a new long-term incentive program for approximately 13 Global Management Team employees and US Leadership Team employees within the
Complete proposals regarding the resolutions by the annual general meeting in accordance with the above together with the presentation from the managing director's speech are available at
The Board
For further information please contact:
Tel: +46 (0)18 780 88 00
E-mail: ir@orexo.com
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Report from Orexo AB’s annual general meeting, |
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