Idorsia holds its second Annual General Meeting of Shareholders - All Board proposals approved
Idorsia Pharmaceuticals Ltd. / Idorsia holds its second Annual General Meeting of Shareholders - All Board proposals approved . Processed and transmitted by West Corporation. The issuer is solely responsible for the content of this announcement.
Allschwil, Switzerland - May 3, 2019
At today's Annual General Meeting (AGM) of Idorsia Ltd (SIX: IDIA) held in Basel, Switzerland, shareholders voted in favor of all proposals by the Board of Directors with a significant majority.
The meeting was attended by 392 shareholders, representing a total of 88,222,917 shares, or 67.31 % of the total outstanding shares.
Led by the Chairman of the Board, Jean-Pierre Garnier, and by the Chief Executive Officer, Jean-Paul Clozel, the company presented the highlights of 2018.
Jean-Pierre Garnier commented:
"In 2018, Idorsia saw advances on many fronts: We advanced our pipeline, bringing four products into Phase 3 development. We completed demerger activities, with all core systems now running independently of Actelion. We appointed a leader to build our commercial organization, taking another step forward towards financial sustainability, and we strengthened our cash position so that we are able to run our Phase 3 clinical trials and then take strategic decisions on how best to commercialize our assets. These achievements represent significant progress and as a result our shareholders have continued to give us their confidence unabatedly."
The shareholders approved the Annual Report 2018, together with the Statutory and the Consolidated Financial Statements for 2018. Shareholders also endorsed the 2018 compensation report by way of consultative vote.
Shareholders approved the aggregate maximum compensation for the Board of Directors (Non-Executive Directors) for the term until the AGM 2020 and the aggregate compensation amount for the Idorsia Executive Committee (IEC) for the financial year 2019.
The shareholders granted discharge to all members of the Board of Directors and of the Executive Management for the financial year 2018.
Shareholders approved the changes of authorized share capital, providing the flexibility to support the company's growth plan, and the ability to fund the company's research and clinical development programs as well as other strategic projects.