Annual General Meeting of Kuros Biosciences approves certain resolutions

(PresseBox) ( Schlieren, )
Kuros Biosciences (SIX:KURN) today announced that its Annual General Meeting approved certain resolutions proposed by the Board of Directors. Three proposed resolutions relating to amendments of the Articles for potential capital increases did not reach the required 2/3 majority.

Joost de Bruijn (CEO) reported that with the proceeds of the December 2018 capital increase the Company is advancing its pipeline, in particular the Phase II clinical study of its proprietary KUR-113 product in spinal fusion, and is progressing the commercialization of MagnetOs in the U.S. and selected geographics in Europe.

The Annual General Meeting approved the Annual Report, the Annual Financial Statements, and Consolidated Financial Statements for the year 2018 and took note of the Reports of the Auditors. Shareholders discharged the Board and the Executive Committee, voted in favor of the proposed appropriation of the Annual Results and approved the compensation for the members of the Board and the Executive Committee.

Clemens van Blitterswijk was re-elected as Chairman and Leanna Caron, Gerhard Ries, Joost de Bruijn, Jason Hannon, Scott P. Bruder and Oliver Walker were re-elected as members of the Board. Dr. Ries and Mrs. Caron were re-elected as members of the Compensation Committee. The law firm Keller KLG, Zürich was elected as independent Proxy. PricewaterhouseCoopers were confirmed for another one-year term as the Company’s auditor.

The required 2/3 majority on an increase and adjustment of the authorized share capital (up to 4,000,000 registered shares with a nominal value of CHF 1.00 each) and the conditional share capital for Employee Participation (up to 2,248,389 registered shares with a nominal value of CHF 1.00 each) was not reached. The increase and adjustment of the Conditional Share Capital for bonds and similar debt instruments (up to 4,000,000 registered shares with a nominal value of CHF 1.00 each), and corresponding changes to the Articles of Incorporation also did not reach the required 2/3 majority.

The Annual General Meeting took place at the Company’s headquarters in Schlieren. It was attended by 28 shareholders. 5,534,412 shares or 36.7% of a total of 15,058,611 shares were represented.

Forward Looking Statements

This media release contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. You are urged to consider statements that include the words “will” or “expect” or the negative of those words or other similar words to be uncertain and forward-looking. Factors that may cause actual results to differ materially from any future results expressed or implied by any forward-looking statements include scientific, business, economic and financial factors, Against the background of these uncertainties, readers should not rely on forward-looking statements. The Company assumes no responsibility for updating forward-looking statements or adapting them to future events or developments.
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