The AGM approved the Board's proposal to issue a maximum of 22,492,584 new series B shares. As a result, the company can receive issue proceeds totalling a maximum of SEK 224,925,840.
The AGM also resolved to reduce the Company's share capital by SEK 168,694,380 to SEK 112,462,920 for allocation to the statutory reserve through a reduction in the par value of all shares from SEK 25 to SEK 10.
Meeting agenda items submitted by the Swedish Association of Share Investors for decisions regarding the Nomination Committee, Remuneration Committee and Audit Committee were resolved as follows:
In the nomination process for members of the Company's Board of Directors, the three largest shareholders in the Company each appoint one representative during the fourth quarter of the year; under management by the Chairman of the Board, the representatives formulate a proposal that is submitted to the Board for a final decision by the Annual General Meeting. The names of the three representatives shall be announced as soon as they are appointed.
With regard to a remuneration committee, such issues shall be addressed by the entire Board of Directors. Similarly, audit issues shall be addressed by the entire Board of Directors.
Board members Sven Andréasson, Mats Arnhög, Maria Borelius and Peter Sjöstrand were re-elected by the Annual General Meeting.
Professor Klas Kärre and Peter Ström were elected as new members of the Board.
Klas Kärre is a professor of molecular immunology at the Karolinska Institute. In addition to Active Biotech, Klas Kärre is a Board member of the Karolinska Institute and the University of Kalmar and a deputy Board member of Accuro Immunology AB.
Peter Ström is Vice President of IMS Health, with responsibility for Northern and Central Europe, the Middle East and Africa.
The CEO Sven Andréasson thanked the Chairman of the Board Hugo Thelin and Mats Pettersson, who had renounced re-election, for their contributions to the Company.
At the statutory meeting of the Board immediately after the Annual General Meeting, Mats Arnhög was named Chairman of the Board.
Sven Andréasson's address to shareholders at the Annual General Meeting (and the Annual Report) is available in its entirety at www.activebiotech.com.
Lund, April 11, 2003
Active Biotech AB
Sven Andréasson
President & CEO
Active Biotech
AB is a biotechnology company focusing on research in and development of pharmaceuticals. Active Biotech has a strong R&D portfolio and pipeline products with focus primarily on autoimmune/inflammatory diseases and cancer. Most advanced projects include orally administered small molecules with unique immunomodulatory properties that can be used to treat autoimmune and inflammatory diseases (SAIK), as well as a novel concept for use in cancer immunotherapy (TTS).
Active Biotech AB
Box 724, SE-220 07 Lund, Sweden
Tel: +46 (0)46-19 20 00
Fax: +46 (0)46-19 20 50
E-mail info@activebiotech.com