Addex Therapeutics (ADDXF.PK) announced that its shareholders approved all the proposals of the Board of Directors at its 2013 annual general meeting.
The company stated that its shareholders approved the annual report, financial statements and consolidated financial statements for the business year 2012, Granting full discharge to the members of the board of directors and the executive management for their activities during the business year 2012; and the re-election of PricewaterhouseCoopers SA, Geneva, as the auditors for the 2013 business year.
The shareholders also approved the certains amendments to the Articles of Association. They are the extension and increase of the authorized share capital authorizing the Board of Directors, at any time until 19 March 2015, to increase the share capital in an amount of 4.50 million Swiss francs through the issuance of 4.50 million fully paid registered shares with a nominal value of 1 Swiss franc each; and the increase of the conditional share capital reserved for the exercise of option and/or conversion rights that are granted in connection with the issue of bonds, similar obligations or other financial instruments in the amount of 765,049 Swiss francs thereby raising the conditional share capital reserved from 2.03 million Swiss francs to 2.80 million Swiss francs.
The company stated that its Board has decided to reduce its size from seven to five members. In this regard Ray Hill and Antoine Papiernik voluntarily stepped down from the Board of Directors to accommodate the new board composition.
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by RTT Staff Writer
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