2022 Ordinary Shareholders’ Meeting of Achiko AG: Shareholders Adopt All Proposals

Rhea-AI Summary

Achiko AG held its Annual General Meeting on December 20, 2022, in Zurich, where all resolutions were passed. Shareholders approved the annual report and a total balance sheet loss of USD 34,568,395. The purpose of the company was amended to include broader diagnostic products and services. Share capital increases were authorized, and key board members were re-elected. CEO Steven Goh emphasized the need to transform the board and improve the balance sheet, highlighting the emergence of sales for their diagnostic product, AptameX™, and plans for further product development.

Positive

• All resolutions passed at the Annual General Meeting, indicating shareholder support.
• Amendments to the company’s purpose broaden its focus on diagnostic products and digital services.
• Renewed authorization for share capital increases can provide financial flexibility.
• Emerging sales for AptameX™ point towards potential revenue growth.

Negative

• The company reported a total balance sheet loss of USD 34,568,395, indicating financial stress.

ZURICH, Switzerland, Dec. 20, 2022 (GLOBE NEWSWIRE) -- Achiko AG (SIX: ACHI; OTCQB: ACHKF; ISIN CH0522213468) (“Achiko”, the “Company”) held its Annual General Meeting today at 10:00 CET in Zurich. Due to the Covid-19 pandemic, this Annual General Meeting was held without the physical presence of the shareholders in accordance with art. 27 para. 1 letter b of the Covid-19-Ordinance 3. Shareholders exercised their shareholder rights through an independent proxy.

Achiko is pleased to announce that all resolutions were duly passed. A total of 26,284,959 voting shares, from the total share capital of CHF 1,451,539.11, divided into 145,153,911 registered shares with a nominal value of CHF 0.01 each, were represented by the independent proxy. The Board of Directors would like to thank all those who exercised their rights as shareholders in this way.

The shareholders approved the annual report, including the corporate governance report, the consolidated financial statements, and the statutory financial statements, as well as, in an advisory vote, the compensation report for the financial year 2021. The carry forward of the total balance sheet loss of USD (34,568,395) at year end 2021 was approved.

The amendment of purpose in article 1.2 of the Articles of Association to the research, development, production, licensing, marketing and distribution of diagnostic products, digital services, and devices of all kinds such as in the fields of medicine, electrotechnology and other related fields, was approved. The board of directors' authorization to increase share capital through share issuance out of the authorized capital (article 2.2) was renewed and increased by the shareholders. The increase of the conditional share capital for financing, acquisitions, and other purposes (article 2.4) was also approved.

Allen Wu as Chairman of the Board and Steven Goh as a member of the Board were re-elected for a further term of one year. Steven Goh as sole member and Chairman of the Nomination and Remuneration Committee, Grant Thornton AG as auditors and Buis Bürgi AG as independent proxy were also re-elected for a one-year term.

The shareholders approved all retrospective and prospective compensation of the Board of Directors, the Advisory Board and the Executive Board for the respective compensation periods as proposed by the Board of Directors. The shareholders voted to discharge the members of the Board of Directors and the Executive Board for the financial year 2021.

"This is an important interim step, as we work with key shareholders in Switzerland and Asia to transform the board of the company, and properly capitalize the group,” said Steven Goh, CEO and Co-Founder of Achiko AG. “It has been a journey and the Company’s balance sheet is stressed. But we now have a unique world-class product with sales emerging and with more products to come. A board and balance sheet to support the company’s strategy to deliver consistent shareholder value are our next priority and again, this meeting enables the Company to get there.”

ABOUT ACHIKO AG
Achiko AG (SIX: ACHI.SW; OTCQB: ACHKF; www.achiko.com) is developing disruptive diagnostic solutions that put people first. The Company’s lead product, AptameX™, is a rapid, reliable Covid-19 test with a companion app, Teman Sehat™, offering a user-friendly digital health passport. AptameX™ and Teman Sehat™ were launched in Indonesia in mid-2021 and AptameX™ received the CE Mark in the European Union in May 2022.

The AptameX™ DNA aptamer tests can be rapidly chemically synthesized, are cost-effective, easily scalable and have broad potential across multiple disease areas. Achiko aims to deliver fast, accurate and affordable diagnostic testing for a range of diseases in the rapidly evolving healthcare diagnostics field.

Headquartered in Zurich, Achiko has offices in Jakarta, and staff around the world.

Media contacts:

ACHIKO AG
Investor Relations
E: ir@achiko.com

Switzerland & Global
Marcus Balogh
Farner Consulting Ltd.
E: achiko@farner.ch
T: +41 44 266 67 67

Disclaimer
This communication expressly or implicitly contains certain forward-looking statements concerning Achiko AG and its business. Such statements involve certain known and unknown risks, uncertainties, and other factors, which could cause the actual results, financial condition, performance, or achievements of Achiko AG to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Achiko AG is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

FAQ

What were the results of Achiko AG's Annual General Meeting on December 20, 2022?

All proposed resolutions were passed, including approving the annual report and financial statements.

What financial condition did Achiko AG report at the AGM?

Achiko AG reported a balance sheet loss of USD 34,568,395 as of the end of 2021.

What changes were made to Achiko AG's Articles of Association during the AGM?

The Articles of Association were amended to broaden the focus on research, development, and distribution of diagnostic products.

Who was re-elected to the Board of Directors at Achiko AG's AGM?

Allen Wu was re-elected as Chairman, and Steven Goh was re-elected as a board member.

What is AptameX™ and its significance for Achiko AG?

AptameX™ is Achiko AG's rapid COVID-19 test product, which has begun generating sales and demonstrates the company's potential for revenue growth.