Molecular Partners Announces Shareholders Approve All Board Proposals at the Annual General Meeting
Molecular Partners AG (SIX: MOLN; NASDAQ: MOLN) held its Annual General Meeting where shareholders approved all Board of Directors' motions. Key approvals included the financial statements for 2022 and the carry-forward of earnings totaling CHF 124 million, reducing prior losses from CHF 216 million to CHF 92 million. The Board received discharge for 2022, and all members were re-elected for another year. KPMG AG Zurich was confirmed as statutory auditors for 2023. The meeting also endorsed compensation motions for the Board and Management.
- Shareholders approved the financial statements for 2022, indicating strong support for management.
- Reduction of carried forward losses from CHF 216 million to CHF 92 million improves financial standing.
- All members of the Board were re-elected, ensuring continuity in leadership.
- None.
ZURICH-SCHLIEREN, Switzerland and CONCORD, Mass., April 04, 2023 (GLOBE NEWSWIRE) -- Molecular Partners AG (SIX: MOLN; NASDAQ: MOLN), a clinical-stage biotech company developing a new class of custom-built protein drugs known as DARPin therapeutics, today announced that the shareholders of the Company approved all motions proposed by the Board of Directors at the Annual General meeting by a wide majority.
The Molecular Partners shareholders confirmed the approval of the annual review, the IFRS consolidated financial statements and the annual statements for the financial year 2022. They also fully approved the consultative vote on the compensation report and proposed to carry forward the available earnings for 2022 of CHF 124,019,827, thereby bringing the loss carried forward position from CHF 216,531,348 to CHF 92,511,521.
The Board of Directors and the members of the management board were granted discharge for the financial year 2022. Additionally, the shareholders approved amendments to the articles of incorporation.
The shareholders voted to re-elect all members of Molecular Partners’ Board of Directors for a term of office of one year. William “Bill” Burns was re-elected Chairman of the Board and re-appointed as the chairperson of the Board’s Nomination and Compensation Committee. Steven Holtzman and Michael Vasconcelles, M.D., were also re-elected to the Nomination and Compensation Committee. KPMG AG Zurich was re-elected as the Group’s statutory auditors for the financial year 2023 and Anwaltskanzlei Keller AG, Zurich, was elected as the independent proxy for a term of office until the 2024 Annual General Meeting.
The Annual General Meeting also approved all binding motions regarding compensation for both the Board of Directors and the Management Board.
About Molecular Partners AG
Molecular Partners AG is a clinical-stage biotech company developing DARPin therapeutics, a new class of custom-built protein drugs designed to address challenges current modalities cannot. The Company has formed partnerships with leading pharmaceutical companies to advance DARPin therapeutics in the areas of oncology and virology and has compounds in various stages of clinical and preclinical development across multiple therapeutic areas. www.molecularpartners.com; Find us on Twitter - @MolecularPrtnrs
For further details, please contact:
Seth Lewis, Investor Relations and Strategy
seth.lewis@molecularpartners.com
Tel: +1 781 420 2361
Antonio Ligi, Head of Communications
Zürich-Schlieren, Switzerland
antonio.ligi@molecularpartners.com
Tel: +41 79 723 36 81
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