31 May 2017
RELIEF THERAPEUTICS Holding AG (SIX:RLF) (“Relief” or “Company”) announces that at yesterday’s Annual General Meeting 2017 (“AGM”), the shareholders approved all agenda items with more than 99% of the represented voting right as proposed by the Board of Directors with large majority of the represented votes.
The agenda of the AGM covered the following items:
1) Approval of the Annual Report, Statutory Financial Statements and Consolidated Financial Statements for the year 2016, 2) Appropriation of Results, 3) Discharge of the members of the Board of Directors and of the Executive Committee, 4) General Revision of the Articles of Association including changes in domicile, authorized share capital and conditional share capital, 5) Binding votes on the compensation of the members of the Board of Directors and of the Executive Committee and consultative vote on the Compensation Report, 6) Elections of the Board of Directors, Chairman of the Board of Directors, Nomination and Compensation Committee, Independent Proxy Holder and Auditors.
1’613’302’229 shares representing 84.8% of the existing shares were represented at the AGM.
The shareholders approved the annual report, the statutory financial statements and the consolidated financial statements for the year 2016.
The shareholders agreed to carry forward the loss for the year 2016.
The shareholders granted discharge to the members of the Board of Directors and the Executive Committee for the business year 2016.
The shareholders approved a general revision of the Articles of Association including a change of the Company’s domicile from Zurich to Geneva, the use of the French version of the Company’s name RELIEF THERAPEUTICS Holding SA instead of AG and changes in the authorized/conditional share capital. The new bilingual Articles of Association as approved by the shareholders will be available on the Company’s website.
The shareholders approved the proposed compensation of CHF 200’000 for the members of the Board of Directors from this AGM to that of 2018 and the compensation of CHF 1’500’000 for the members of the Executive Committee for the year 2018.
Previous members of the Board of Directors, namely Raghuram Selvaraju, Michel Dreano, Peter De Svastich were reappointed as members of the Board of Directors and Mr. David A. Lowe was elected as a new independent member of the Board of Directors for one year from this AGM 2017 until that of 2018. Relief as a whole is happy to welcome David Lowe on Board. David brings a wealth of experience and expertise that is expected to have a significant positive impact on the development of the Company and its main development projects.
In addition, Michel Dreano and Peter de Svastich were elected as members of the Nomination and Compensation Committee, the firm Gloor and Ruggli Partner (GRP) from Zurich was elected by the shareholders as independent proxy holder until the next AGM and the firm Mazars was chosen by the shareholders as the statutory auditor for a term of office until the next AGM of 2018.
RELIEF THERAPEUTICS Holding AG is a clinical stage biotechnology company with a portfolio of drug candidates derived from natural human origins. Its two most promising drug candidates are aviptadil for the treatment of sarcoidosis (to enter Phase III) and low dose interleukin-6 (atexakin alfa) for the treatment of peripheral diabetic neuropathy (to enter Phase II). Aviptadil development in sarcoidosis focuses the drug on an orphan disease market, in which European regulators have indicated that a single pivotal Phase III trial would be sufficient to support approval. Atexakin alfa is the subject of an exclusive worldwide development and commercialization agreement with Merck KGaA, and has been the subject of multiple clinical trials. Based on its unique mechanism of action, atexakin alfa could become the first regenerative therapeutic for peripheral neuropathy. The peripheral diabetic neuropathy market is estimated to reach $4.1 billion in 2019, according to Datamonitor.
RELIEF THERAPEUTICS Holding AG is listed on the SIX Swiss Exchange under the symbol RLF.
This communication expressly or implicitly contains certain forward-looking statements concerning Relief Therapeutics Holding AG and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of Relief Therapeutics Holding AG to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Relief Therapeutics Holding AG is providing this communication as of this date and does not undertake to update any forward looking statements contained herein as a result of new information, future events or otherwise.