Allschwil, Switzerland - May12, 2021
- All Board proposals approved by the Shareholders
At today's Annual General Meeting (AGM) of Idorsia Ltd (SIX: IDIA) held in Allschwil, Switzerland, shareholders voted in favor of all proposals by the Board of Directors with a large majority.
The meeting was held in accordance with the requirements of the COVID-19 Ordinance 3, issued by the Swiss Federal Council. As a result, attendance in person was not possible and voting took place by independent proxy. In total, 4,541 shareholders voted through the independent proxy, representing a total of 112,170,657 shares, or 67.13% of the total outstanding shares.
Mathieu Simon, MD, Chairman of the Board of Directors of Idorsia, commented:
"Despite the global pandemic, Idorsia looks back on an incredibly successful year and the future promises to not lose any momentum. The coming year will be crucial as we continue to build the foundation of Idorsia's future. I am very proud to have been re-elected as your Chairman and thank you for your unwavering trust and support. I am confident that the strengthened Board can help the company successfully navigate the path ahead."
The shareholders approved the Annual Report 2020, together with the Statutory and the Consolidated Financial Statements for 2020. Shareholders also endorsed the 2020 compensation report by way of consultative vote.
Shareholders approved the aggregate maximum compensation for the Board of Directors (Non-Executive Directors) for the term of office until the AGM 2022 and the aggregate maximum amount of compensation for the Idorsia Executive Committee (IEC) for the financial year 2022.
The shareholders granted discharge to all members of the Board of Directors and of the Executive Management for the financial year 2020.
Shareholders approved an increase and extension of authorized share capital, providing the flexibility to support the company's growth plan, to prepare and execute the launch of the company's first products, and to be able to fund the company's research and clinical development programs as well as other strategic projects.
The shareholders elected all Board members who stood for re-election and elected Peter Kellogg and Srishti Gupta as new Board members for a term of office until the conclusion of the AGM 2022.
In addition, the shareholders elected Mathieu Simon as Chairman of the Board and Mathieu Simon, Joern Aldag, Felix R. Ehrat, and Srishti Gupta as members of the Compensation Committee.
Following the AGM, the Board of Directors of Idorsia comprises a total of 7 members: Mathieu Simon (Chairman), Jean-Paul Clozel, Joern Aldag, Felix R. Ehrat, Sandy Mahatme, Peter Kellogg, and Srishti Gupta.
BachmannPartner Sachwalter und Treuhand AG was elected as Independent Proxy for a term of office until the conclusion of the AGM 2022.
Ernst & Young AG, Basel, was re-elected as statutory auditors for the financial year 2021.
Notes to the editor
Idorsia Ltd is reaching out for more - We have more ideas, we see more opportunities and we want to help more patients. In order to achieve this, we will develop Idorsia into a leading biopharmaceutical company, with a strong scientific core.
Headquartered near Basel, Switzerland - a European biotech-hub - Idorsia is specialized in the discovery, development and commercialization of small molecules to transform the horizon of therapeutic options. Idorsia has a broad portfolio of innovative drugs in the pipeline, an experienced team of professionals covering all disciplines from bench to bedside, state-of-the-art facilities, and a strong balance sheet - the ideal constellation to translate R&D efforts into business success.
Idorsia was listed on the SIX Swiss Exchange (ticker symbol: IDIA) in June 2017 and has over 900 highly qualified specialists dedicated to realizing our ambitious targets.
For further information, please contact
Andrew C. Weiss
Senior Vice President, Head of Investor Relations & Corporate Communications
Idorsia Pharmaceuticals Ltd, Hegenheimermattweg 91, CH-4123 Allschwil
+41 58 844 10 10
firstname.lastname@example.org (mailto:email@example.com) - firstname.lastname@example.org (mailto:email@example.com) - www.idorsia.com (http://www.idorsia.com)
The above information contains certain "forward-looking statements", relating to the company's business, which can be identified by the use of forward-looking terminology such as "estimates", "believes", "expects", "may", "are expected to", "will", "will continue", "should", "would be", "seeks", "pending" or "anticipates" or similar expressions, or by discussions of strategy, plans or intentions. Such statements include descriptions of the company's investment and research and development programs and anticipated expenditures in connection therewith, descriptions of new products expected to be introduced by the company and anticipated customer demand for such products and products in the company's existing portfolio. Such statements reflect the current views of the company with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements of the company to be materially different from any future results, performances or achievements that may be expressed or implied by such forward-looking statements. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected.
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