Adoption and appropriation of profits
The Meeting resolved to adopt the presented Income Statement and Balance Sheet, and the Consolidated Income Statement and Consolidated Balance Sheet. The Meeting also resolved to appropriate the company’s profit or loss in accordance with the Board of Directors’ proposal in the Annual Accounts. Additionally, the Meeting resolved that no dividend is paid for the financial year 2013.
Discharge from liability
The AGM resolved to discharge the Board members and Chief Executive Officer from liability.
Fees
The Meeting resolved that fees to Board members not employed by NeuroVive but elected by the AGM, and members of the Board of Directors’ various Committees not employed by NeuroVive, shall be payable as follows:
- SEK 300,000 to the Chairman of the Board;
- SEK 150,000 each to other Board members;
- SEK 100,000 to the Chairman of the Audit Committee;
- SEK 50,000 each to other members of the Audit Committee;
- SEK 40,000 to the Chairman of the Remuneration Committee;
- SEK 20,000 each to other members of the Remuneration Committee.
The Meeting also resolved that as in the previous year, auditors’ fees are payable in accordance with approved account, on the customary debiting terms. No fees should be payable to Nomination Committee members.
The Board
Greg Batcheller, Arne Ferstad, Marcus Keep, Helena Levander, Helmuth von Moltke, Boel Flodgren and Anna Malm Bernsten were re-elected Board members. Greg Batcheller was re-elected as Chairman of the Board.
Guidelines for remuneration for senior executives
The Meeting resolved on guidelines for remuneration for senior executives in accordance with the proposal, see item 12 in the Invitation to the AGM, published on 9 April 2014. Primarily, the guidelines for remuneration and other terms of employment for management imply that the company shall offer its senior executives market compensation, that compensation shall be subject to consultation by a dedicated Remuneration Committee within the Board of Directors, that the relevant criteria shall consist of the senior executive’s responsibility, role, competence and position. Remuneration to senior executives is decided by the Board of Directors, excluding any Board members that are in a position of dependency to the company and management. These guidelines should be applied to new agreements, or amendments to existing agreements reached with senior executives after the guidelines are adopted, and until new, or revised guidelines are set. What is stipulated for NeuroVive applies also to the group, where applicable.
Guidlines for the Nomination Committee
The AGM resolved that the work of the Nomination Committee for the AGM 2015 should be conducted in accordance with the proposal, see item 13 in the invitation to the AGM published on 9 April 2014. Basically, the guidelines imply that the nomination committee should consist of one member of each of the three largest shareholders. The Chairman of the Nomination Committee shall be that member appointed by the largest shareholder in terms of the number of votes.
Information on the members of the Nomination Committee and the shareholders they represent should be published in press releases by no later than six months prior to the following AGM.
About NeuroVive
NeuroVive Pharmaceutical AB (publ), a leading mitochondrial medicine company, is developing a portfolio of products to treat acute cardiovascular and neurological conditions through mitochondrial protection. These medical conditions are characterized by a pressing medical need and have no approved pharmaceutical treatment options at present. NeuroVive’s products CicloMulsion® (heart attack) and NeuroSTAT® (traumatic brain injury) are currently being evaluated in phase III and phase II studies, respectively. NeuroVive’s research programs also include products for the treatment of anti-viral indications (Hepatitis B/C), brain cell injury in stroke patients, and drug candidates for cellular protection and treating mitochondria-related energy regulation diseases. NeuroVive’s shares are listed on NASDAQ OMX, Stockholm, Sweden.
For more information, please contact Chairman of the Board:
Greg Batcheller, tel: +46 73 391 9608, greg.batcheller@neurovive.com
For media and investor relations questions, please contact:
Ingmar Rentzhog, Laika Consulting, tel: +46 (0)46 275 62 21 or ir@neurovive.se
It is also possible to arrange an interview with NeuroVive’s CEO Mikael Brönnegård via the contact above.
NeuroVive Pharmaceutical AB (publ)
Medicon Village, SE-223 81 Lund, Sweden
Tel: +46 (0)46 275 62 20 (switchboard), Fax: + 46 (0)46 888 83 48, info@neurovive.se
NeuroVive Pharmaceutical AB (publ) is required to publish the information in this news release under The Swedish Securities Market Act. The information was submitted for publication on 9 May 2014, at 5:15 p.m. CET.