DGAP-News: MagForce AG

MagForce AG announces positive results of 2017 Annual General Meeting

• The Annual General Meeting approves all agenda items with a clear majority
• Klemens Hallmann elected as new Supervisory Board member, replacing Stephan Jakober - Dr. Wiebke Rösler and Norbert Neef re-elected as Supervisory Board members

Berlin, Germany, and Nevada, USA, August 10, 2017 - MagForce AG (Frankfurt, Scale, XETRA: MF6, ISIN: DE000A0HGQF5), a leading medical device company in the field of nanomedicine focused on oncology, held its Annual General Meeting in Berlin today. The Annual General Meeting approved all resolution items with a clear majority of more than 98 percent.

The CEO and Chairman of the Management Board, Dr. Ben J. Lipps, reported on the current operational developments and provided an overview of the 2016 fiscal year, as well as an outlook for the current year. Subsequently, he gave an update on the status of the strategic plan and touched upon the recently announced finance agreement with the European Investment Bank through which the Company is optimally positioned to roll out MagForce's NanoTherm therapy across Europe. It will also support the development and global commercialisation of prostate cancer solutions and MagForce's next generation NanoTherm.

At the Annual General Meeting 2017, Dr. Wiebke Rösler and Norbert Neef were re-elected as Supervisory Board members. Supervisory Board member Stephan Jakober will leave the Supervisory Board with effect from the close of today's meeting. To replace him, the Annual General Meeting elected Klemens Hallmann as new member. Mr. Hallmann, who, together with Hallmann Holding, is one of MagForce's core shareholders, is an Austrian entrepreneur and investor. The term of Mr. Hallmann ends, like the term of the other Supervisory Board members, with the close of the General Meeting resolving on the approval of the activities of the Supervisory Board during fiscal year 2021.

The Management Board and Supervisory Board were pleased about the successful election results, and thanked Mr. Jakober for his engagement. Dr. Ben J. Lipps stated, "I am grateful for Mr. Jakober's commitment to MagForce and his contribution during his term of office and wish him all the best for his future endeavour. Furthermore, I would like to welcome Klemens Hallmann to the Supervisory Board of MagForce AG."

AIOS GmbH Wirtschaftsprüfungsgesellschaft, Steuerberatungsgesellschaft, Berlin, was apointed as the new auditor for fiscal year 2017.

The Management Board presentation is available on the Company's website at www.magforce.de/en/presse-investoren/hauptversammlung.
 

About MagForce AG and MagForce USA, Inc.

MagForce AG, listed in the Scale segment of the Frankfurt Stock Exchange (MF6, ISIN: DE000A0HGQF5), together with its subsidiary MagForce USA, Inc. is a leading medical device company in the field of nanomedicine focused on oncology. The Group's proprietary NanoTherm(R) therapy enables the targeted treatment of solid tumors through the intratumoral generation of heat via activation of superparamagnetic nanoparticles.

NanoTherm(R), NanoPlan(R), and NanoActivator(R) are components of the therapy and have received EU-wide regulatory approval as medical devices for the treatment of brain tumors. MagForce, NanoTherm, NanoPlan, and NanoActivator are trademarks of MagForce AG in selected countries.

For more information, please visit: www.magforce.com

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Disclaimer

This release may contain forward-looking statements and information which may be identified by formulations using terms such as "expects", "aims", "anticipates", "intends", "plans", "believes", "seeks", "estimates" or "will". Such forward-looking statements are based on our current expectations and certain assumptions, which may be subject to a variety of risks and uncertainties. The results actually achieved by MagForce AG may substantially differ from these forward-looking statements. MagForce AG assumes no obligation to update these forward-looking statements or to correct them in case of developments, which differ from those, anticipated.