Idorsia holds its Annual General Meeting of Shareholders
Ad hoc announcement pursuant to Art. 53 LR
- All Board proposals approved by the Shareholders
Allschwil, Switzerland – April 14, 2022
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, 5,474 shareholders voted through the independent proxy, representing a total of 111,093,671 shares, or 62.78% of the total outstanding shares.
Mathieu Simon, MD, Chairman of the Board of Directors of Idorsia, commented:
“My thanks go to our shareholders, who have once again shown their support for Idorsia’s strategy for value creation, with resounding endorsement of all agenda items at the AGM. With our first product launches imminent, Idorsia is on the cusp of transformation into a fully-fledged biopharmaceutical company which can take innovation at the lab bench all the way to the patients’ bedside. We’ll also see important results from the clinical pipeline this year, so be prepared for more!”
The shareholders approved the Annual Report 2021, together with the Statutory and the Consolidated Financial Statements for 2021. Shareholders also endorsed the 2021 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 2023 and the aggregate maximum amount of compensation for the Idorsia Executive Committee (IEC) for the financial year 2023.
The shareholders granted discharge to all members of the Board of Directors and of the Executive Management for the financial year 2021.
Shareholders approved an increase of conditional share capital, providing the flexibility to grant long-term incentives to employees focused on long-term value creation in alignment with shareholder interests. The increase of the conditional share capital is also required to fully cover convertible debt instruments, bonds, loans and similar forms of financing that have already been issued.
The shareholders re-elected all Board members for a term of office until the conclusion of the AGM 2023. In addition, the shareholders re-elected Mathieu Simon as Chairman of the Board and Mathieu Simon, 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 AG was re-elected as independent proxy for a term of office until the conclusion of the AGM 2023.
Ernst & Young AG, Basel, was re-elected as statutory auditors for the financial year 2022.
Notes to the editor
About Idorsia
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 1,200 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
investor.relations@idorsia.com – media.relations@idorsia.com – 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.
Attachment
