Basilea shareholders approve all proposals of the Board of Directors at the Annual General Meeting of Shareholders

Basilea Pharmaceutica AG / Basilea shareholders approve all proposals of the Board of Directors at the Annual General Meeting of Shareholders . Processed and transmitted by Nasdaq Corporate Solutions. The issuer is solely responsible for the content of this announcement.

Basel, Switzerland, April 18, 2017 - Basilea Pharmaceutica Ltd. (SIX: BSLN) reported that shareholders approved all proposals of the Board of Directors at today's Annual General Meeting of Shareholders (AGM) for the financial year 2017.
The shareholders approved the annual report, the financial statements, and consolidated financial statements for the financial year 2017, and approved the discharge of the members of Basilea's Board of Directors and Management Committee. Shareholders also approved carrying forward the accumulated deficit, and re-elected PricewaterhouseCoopers AG, Basel, as auditors.

The shareholders re-elected Domenico Scala as Chairman and Dr. Martin Nicklasson, Dr. Nicole Onetto, Steven D. Skolsky and Dr. Thomas Werner as members of Basilea's Board of Directors. The shareholders also elected retiring CEO, Ronald Scott, as a member of the Board of Directors. In addition, Dr. Nicklasson, Mr. Skolsky and Dr. Werner were re-elected as members of the Compensation Committee and Dr. Caroline Cron was re-elected as Independent Proxy. The terms of all these individuals last until the end of the AGM 2019.

"I am delighted that Ron Scott has been elected as a member of the Board of Directors," said Domenico Scala, Chairman of the Board of Directors. "We are convinced that his strategic thinking and detailed knowledge of the pharmaceutical industry and capital markets will be of tremendous value to support Basilea in its continued growth." He added: "As Ron Scott is retiring from his role as CEO, the Board would also like to thank him for his significant contributions to the success of Basilea since the founding of the company and welcomes David Veitch in his new position as CEO."

The shareholders approved the extension of the authorization to increase the share capital by one additional year to April 2020. They also approved to amend the Articles of Association in order to clarify that the preferential subscription rights of the existing shareholders may not be excluded in case of a public takeover offer.

Finally, the shareholders approved the proposed maximum aggregate amount of the compensation for the Board of Directors for the period until the AGM 2019, the maximum aggregate amount of fixed compensation for the Management Committee for the period of July 1, 2018 to June 30, 2019, and the maximum aggregate amount of variable compensation for the Management Committee for the period from January 1, 2018 to December 31, 2018. In a non-binding advisory vote, the shareholders also endorsed the aggregate amount of the Management Committee's variable compensation for the financial year 2017.