Santhera’s Shareholders Approve all Board Proposals at Today’s Annual General Meeting

Pratteln, Switzerland, April 22, 2020 – Santhera Pharmaceuticals (SIX: SANN) announces that its shareholders approved all proposals by the Board of Directors at the Annual General Meeting (AGM) held today at the Company’s domicile in Pratteln, Switzerland. In total, 3,936,872 shares equaling 32% of the Company’s share capital were represented.

The Annual General Meeting 2020 took place under extraordinary conditions since, in accordance with the COVID-19 Ordinance 2 of the Swiss Federal Council, the shareholders were mandated to exercise their rights at the AGM 2020 solely via the independent proxy.

“I express my sincere thanks to Santhera’s shareholders for their consent at today’s AGM,” said Elmar Schnee, Chairman of the Board of Directors. “Our Company is approaching key value inflection points in 2020 with the expected approval and launch of Puldysa (idebenone) and top-line clinical results for vamorolone, both product candidates for the treatment of Duchenne muscular dystrophy. In this context, today’s shareholder votes pave the way for implementation of our ambitious plans towards establishing Santhera as a leader in addressing rare neuromuscular diseases.”

Approval of the 2019 Annual Report, results appropriation and allocation of reserves
The shareholders endorsed the Annual Report, the annual financial statements and the consolidated financial statements for 2019, the appropriation of the net result to new account as well as the allocation of reserves from capital contributions to free reserves. Furthermore, the shareholders granted discharge to the members of the Board of Directors and Executive Management for the financial year 2019.

Consent to capital structure supports financial and strategic flexibility
In two separate votes, the shareholders approved the increase of conditional capital from CHF 2,500,000 to CHF 4,800,000 and the increase of authorized capital from CHF 3,000,000 to CHF 5,500,000. With their consent, the shareholders support the financial flexibility of the Company in view of its growth plans.

Members of the Board of Directors and the Compensation Committee re-elected
Shareholders re-elected Elmar Schnee, Martin Gertsch, Philipp Gutzwiller, Patrick Vink and Thomas Meier as members of the Board of Directors, each for a term of one year. In addition, shareholders re-elected Elmar Schnee as Chairman of the Board of Directors. Furthermore, the shareholders confirmed Elmar Schnee and Patrick Vink as members of the Compensation Committee.