Annual General Meeting of Active Biotech AB
In accordance with the Board of Directors' and the President's proposal, it was resolved that no dividend would be paid.
Furthermore, in accordance with the Election Committee's proposal, the Meeting resolved that the Election Committee shall be composed of representatives for the three largest owners, as per October 31, as well as the Chairman of the Board.
The Meeting approved the Board's proposal concerning guidelines for remuneration to the President and other senior executives. The guidelines essentially conform to the principles applied to date.
In accordance with the Board's proposal, the Meeting also resolved on an issue of not more than approximately four million new shares with preferential rights for the shareholders. The issue price is SEK 40 per share and twelve existing shares entitle to subscription for one new share. The record date for the right to participate in the issue is May 20, 2008. The subscription period extends from May 26 to June 9, 2008. A prospectus relating to the issue will be made public prior to the commencement of the subscription period.
Finally, in accordance with the Board's proposal, the Meeting resolved to authorize the Board, for a period that does not extend past the date of the next Annual General Meeting, to resolve on the issue of not more than five million new shares, or convertibles with the corresponding dilution effect, with or without preferential rights for the company's shareholders.
The President Sven Andréasson's address to the Meeting (as well as the Annual Report) can be viewed in its entirety at www.activebiotech.com.
Lund, May 8, 2008
Active Biotech AB (publ)
President and CEO
Active Biotech AB is a biotechnology company focusing on research and development of pharmaceuticals. Active Biotech has a strong R&D portfolio with pipeline products focused on autoimmune/inflammatory diseases and cancer. Most advanced projects are laquinimod, an orally administered small molecule with unique immunomodulatory properties for the treatment of multiple sclerosis, as well as ANYARA for use in cancer-targeted therapy, primarily renal cancer. Further key projects in clinical development comprise the three orally administered compounds TASQ for prostate cancer, 57-57 for SLE and RhuDex® for RA.
Active Biotech AB (Corp. Reg. No. 556223-9227)
PO Box 724, SE-220 07 Lund
Tel +46 (0)46-19 20 00
Fax +46 (0)46-19 20 50