Report from LIDDS Annual General Meeting 2021

UPPSALA, SWEDEN – Lidds Annual General Meeting (AGM) was held on May 17, 2021.

• The AGM adopted the income statement and balance sheet and the consolidated income statement and consolidated balance sheet for the financial year 2020.
• The AGM resolved that no dividend shall be paid for the financial year 2020 and decided to carry forward the earnings. Furthermore, the AGM granted discharge from liability for the board of directors and CEO for the financial year 2020.
• The AGM resolved in favour of re-election of board members Jan Törnell, Anders Bjartell, Maria Forss, IngaLill Forslund Larsson, Daniel Lifveredson and David Bejker. Jan Törnell was re-elected as Chairman of the Board.

• The AGM resolved to approve a fee to the directors of the Board of a total of SEK 787,500, of which SEK 225,000 is to be paid to the Chairman of the Board and SEK 112,500 to each of the other ordinary members of the board. Remuneration for work in the audit committee was resolved by the AGM to SEK 50,000 to the Chairman of the Audit Committee and SEK 25,000 to each of the other Audit Committee members. The auditor’s fees shall be paid in accordance with approved invoice.
• The registered accounting firm Öhrlings PricewaterhouseCoopers AB was re-elected as auditor. Öhrlings PricewaterhouseCoopers AB has appointed Tobias Albing as auditor in charge.
• The AGM resolved that the nomination committee prior to the annual general meeting 2022 shall consist of four members, of which three of those shall be appointed by the two largest shareholders as of end of September. The fourth member shall be chairman of the board of directors. The nomination committee shall draft proposal of board members, proposal of chair of the board of directors, proposal of remuneration for board of directors, proposal of auditor, proposal of remuneration for auditor and proposal of guidelines for appointment of nomination committee.
• The AGM resolved to authorize the board of directors to, on one or more occasions during the period until the next annual general meeting, with or without deviation from the shareholders preferential rights, decide on issue of shares. Share issues may be made with or without provision on non-cash contributions, set-off or other conditions. The maximum number of shares to be issued corresponds to thirty per cent of the total number of shares in the company at the time of the annual general meeting and the issue price shall be in accordance with market conditions.
• The AGM resolved in accordance with the Board of Directors' proposal, to establish a warrants-based incentive programme 2021/2024 for current and future CEO and other key-persons in the company, by an issue of a maximum of 250,000 warrants. With deviation from the shareholders’ preferential rights, the warrants may only be subscribed to by current and future CEO and other key persons in the company in accordance with allocation of the resolution. Subscription shall be made during the period from 15 June to 30 June 2021. The warrants shall be acquired at market value defined with the Black & Scholes valuation model on the date of the transaction. Each warrant constitutes a right to subscribe for one share at a subscription price equal to 170 percent of the volume weighted average listed share price from June 1 2021 to June 14 2021 (according to the share price at Nasdaq First North Growth Market) though not lower than the share quota value. Day without listing shall not be included in the calculation. Subscription of shares by exercising the warrants shall take place from 30 January 2024 to 30 June 2024, taking into account relevant insider legislation. If all warrants are exercised, up to 250,000 shares may be issued, which increases the share capital by SEK 13,250.0 corresponding to a dilution of about 0.84 per cent.

This is a translation. In case of any discrepancies, the Swedish original shall prevail.

The notice including complete proposals for resolution are available on the company’s website, go to https://liddspharma.com/investors/#corporate-governance

For more information, please contact: 

Nina Herne, CEO, LIDDS +46 (0)70 714 74 57  nina.herne@lidds.se

LIDDS AB is required to disclose this information pursuant to Nasdaq First North Growth Market – Rulebook. The information was submitted for publication, through the agency of the aforementioned contact person, on May 17 at 16:30 CET.

LIDDS AB (PLC) is a Swedish-based pharmaceutical company with a unique drug delivery technology NanoZolid®. NanoZolid® is a clinically validated drug development technology and is superior in its ability to provide a controlled and sustained release of active drug substances for up to six months. LIDDS has licensing agreements where NanoZolid is combined with antiandrogens, and also has in-house development projects in the clinical as well as the preclinical phase for cytostatics and immunoactive agents. LIDDS (LIDDS) shares are listed on Nasdaq First North Growth Market. Redeye AB, certifiedadviser@redeye.se, +46 (0)8 121 576 90, is a certified adviser to LIDDS. For more information, please visit www.liddspharma.com.