CENTOGENE Announces Adoption of All Resolutions Tabled at 2024 Annual General Meeting

Rhea-AI Summary

CENTOGENE (Nasdaq: CNTG) announced the adoption of all resolutions at its 2024 Annual General Meeting. Shareholders approved an extension for drafting annual accounts and board reports for the 2023 financial year. Ernst & Young Accountants LLP was appointed as the external auditor for the 2024 financial year. Additionally, a revised compensation structure for the Supervisory Board was adopted. The Management Board's authority to issue shares, grant subscription rights, limit/exclude pre-emption rights, and acquire shares and depository receipts was also extended.

Positive

• Shareholders approved all proposals, indicating strong investor confidence.
• Ernst & Young Accountants LLP appointed as the external auditor for 2024, ensuring continuity and reliability in financial reporting.
• Revised compensation structure for the Supervisory Board may help attract and retain top-tier talent.
• Extended authority for the Management Board to issue shares and grant rights provides flexibility for future capital raising and strategic initiatives.

Negative

• Extended period for drafting annual accounts might indicate potential delays in financial reporting.
• Issuance of new shares and granting rights can lead to shareholder dilution.

CAMBRIDGE, Mass. and ROSTOCK, Germany and BERLIN, May 31, 2024 (GLOBE NEWSWIRE) -- CENTOGENE N.V. (Nasdaq: CNTG) (the “Company”), the essential life science partner for data-driven answers in rare and neurodegenerative diseases, today announced the voting results of the Company’s 2024 Annual General Meeting. Shareholders voted in favor of all proposals.

The shareholders extended the period for drawing up the Dutch statutory annual accounts and board report for the financial year ended December 31, 2023. The shareholders also instructed Ernst & Young Accountants LLP as the external auditor of the Company for the financial year ended December 31, 2024. In addition, the shareholders adopted the revised compensation structure of the Company's Supervisory Board and extended the authorization for the Company’s Management Board to issue shares and grant rights to subscribe for shares, to limit and exclude pre-emption rights, and to acquire shares and depository receipts for shares in the Company's capital.

About CENTOGENE

CENTOGENE’s mission is to provide data-driven, life-changing answers to patients, physicians, and pharma companies for rare and neurodegenerative diseases. We integrate multiomic technologies with the CENTOGENE Biodatabank – providing dimensional analysis to guide the next generation of precision medicine. Our unique approach enables rapid and reliable diagnosis for patients, supports a more precise physician understanding of disease states, and accelerates and de-risks targeted pharma drug discovery, development, and commercialization.

Since our founding in 2006, CENTOGENE has been offering rapid and reliable diagnosis – building a network of approximately 30,000 active physicians. Our ISO, CAP, and CLIA certified multiomic reference laboratories in Germany utilize Phenomic, Genomic, Transcriptomic, Epigenomic, Proteomic, and Metabolomic datasets. This data is captured in our CENTOGENE Biodatabank, with over 850,000 patients represented from over 120 highly diverse countries, over 70% of whom are of non-European descent. To date, the CENTOGENE Biodatabank has contributed to generating novel insights for more than 300 peer-reviewed publications.

By translating our data and expertise into tangible insights, we have supported over 50 collaborations with pharma partners. Together, we accelerate and de-risk drug discovery, development, and commercialization in target and drug screening, clinical development, market access and expansion, as well as offering CENTOGENE Biodata Licenses and Insight Reports to enable a world healed of all rare and neurodegenerative diseases.

To discover more about our products, pipeline, and patient-driven purpose, visit www.centogene.com and follow us on LinkedIn.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws. Statements contained herein that are not clearly historical in nature are forward-looking, and the words “anticipate,” “believe,” “continues,” “expect,” “estimate,” “intend,” “project,” “plan,” “is designed to,” “potential,” “predict,” “objective” and similar expressions and future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” and “may,” or the negative of these are generally intended to identify forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties, and other important factors that may cause CENTOGENE’s actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward- looking statements. Such risks and uncertainties include, among others, negative economic and geopolitical conditions and instability and volatility in the worldwide financial markets, possible changes in current and proposed legislation, regulations and governmental policies, pressures from increasing competition and consolidation in our industry, the expense and uncertainty of regulatory approval, including from the U.S. Food and Drug Administration, our reliance on third parties and collaboration partners, including our ability to manage growth, execute our business strategy and enter into new client relationships, our dependency on the rare disease industry, our ability to manage international expansion, our reliance on key personnel, our reliance on intellectual property protection, fluctuations of our operating results due to the effect of exchange rates, our ability to streamline cash usage, our continued ongoing compliance with covenants linked to financial instruments, our requirement for additional financing, and our ability to continue as a going concern, or other factors. For further information on the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to CENTOGENE’s business in general, see CENTOGENE’s risk factors set forth in CENTOGENE’s Form 20-F filed on May 16, 2023, with the Securities and Exchange Commission (the “SEC”) and subsequent filings with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and CENTOGENE specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise.

CONTACT

CENTOGENE

Melissa Hall
Corporate Communications
Press@centogene.com

Lennart Streibel
Investor Relations
IR@centogene.com

FAQ

What were the results of CENTOGENE's 2024 Annual General Meeting?

Shareholders approved all resolutions, including extending the period for drafting annual accounts, appointing Ernst & Young as the external auditor, adopting a revised compensation structure, and extending the Management Board's authority to issue shares.

Who is the external auditor for CENTOGENE in 2024?

Ernst & Young Accountants LLP was appointed as the external auditor for the financial year ending December 31, 2024.

What changes were made to CENTOGENE's Supervisory Board compensation?

A revised compensation structure for the Supervisory Board was adopted at the 2024 Annual General Meeting.

What authority was extended for CENTOGENE's Management Board in 2024?

The Management Board's authority to issue shares, grant rights to subscribe for shares, limit/exclude pre-emption rights, and acquire shares and depository receipts were extended.