REINACH, Switzerland, May 7 /PRNewswire-FirstCall/ -- The Annual General Meeting of Arpida Ltd (SWX: ARPN) has approved the proposals that were put forward by the Board of Directors.
A total of 73 shareholders were present at the meeting that took place in Basel today. 6,186,266 shares were represented, or 29.3% of the total number of shares issued (21,094,104).
The following items were on the agenda.
1. Approval of the 2007 Business Report, Company Accounts and Group Accounts
The shareholders approved the 2007 Business Report, comprising the annual financial statements, the consolidated accounts and the 2007 Annual Report.
2. Discharge of the Board of Directors and of the Senior Executive Officers
The shareholders granted discharge to the Board of Directors and to the Senior Executive Officers for their actions.
3. Compensation of Losses with General Reserves
The shareholders approved the Board proposal to compensate the accumulated loss of CHF 27,079,529 with an equal amount of share premium in the general reserves.
4. Elections to the Board of Directors
Elmar Schnee and Dr Khalid Islam were elected for a three year term of office.
Dr Andre Lamotte, Dr Hans Funfschilling and Dr Matthias Staehelin were re-elected for a three-year term of office.
5. Re-election of the Auditors
The shareholders re-elected PricewaterhouseCoopers Ltd as Auditors for 2008.
6. Creation of new Capital which can be used either as Authorised Capital or Conditional Capital (replacement of Article 3ter of the Articles of Association)
The shareholders granted the Board of Directors the authorisation to create total new capital of a maximum of up to CHF 640,000 or 3.2 million Shares, either in the form of authorised or conditional capital.
7. Revision of the Articles of Association concerning Auditors
The shareholders approved the changes to the Articles of Association, caused by the change in the Swiss Code of Obligations regarding auditors.
Dr Andre Lamotte, Chairman of the Board of Directors of Arpida Ltd, commented: "We had a very constructive and stimulating discussion with our shareholders. We're delighted that each of the Board's proposals was approved. Our shareholders' support remains an important pillar for our continuing progress."
About Arpida Ltd.
Arpida (SWX: ARPN) is a biopharmaceutical company with research facilities near Basel, Switzerland and in the USA. It focuses on the discovery and development of novel drugs that seek to overcome the growing problem of microbial resistance.
This press release contains specific forward-looking statements, e.g.
statements including terms like believe, assume, expect or similar
expressions. Such forward-looking statements are subject to known and
unknown risks, uncertainties and other factors which may result in a
substantial divergence between the actual results, financial situation,
development or performance of the company and those explicitly or
implicitly presumed in these statements. Against the background of these
uncertainties readers should not place undue reliance on forward-looking
statements. The company assumes no responsibility to update forward-looking
statements or to adapt them to future events or developments.
Dr Jurgen Raths, CEO Tel: +41-61-417-96-60
Harry Welten, MBA, CFO and Senior Vice President Tel: +41-61-417-96-65
Paul Verbraeken, Head of Corporate Communications Tel: +41-61-417-96-83
|SOURCE Arpida Ltd.|
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