The MedinCell General Meeting Votes to Include The “Raison d’être” of the Company in Its Articles of Association

MONTPELLIER, France--()--Regulatory News:

At the Combined General Meeting held on September 5, 2019, in Montpellier, shareholders voted to include the MedinCell (Paris:MEDCL) “Raison d’être” in the company's articles of association:

Our mission is to contribute to the improvement and protection of the health of populations across the world. The fair sharing of the value created with all our employees is the foundation of our business model. The sustainability of MedinCell is an essential condition for achieving our objectives.”

This triple mission has been at the heart of the company's DNA since its foundation.

The Annual General Meeting is traditionally an important moment for MedinCell, which include among its shareholders most of its current and former employees,” said Christophe Douat, CEO of MedinCell. “This year, we had the pleasure of welcoming all those who have joined us since the IPO, both institutional and individual. The interests of both are aligned and intrinsically linked to the success of our mission as a humanist pharma, to the preservation of our business model, where all employees are shareholders, and to the sustainability of MedinCell. This mission is at the heart of our success and unites the talent from all over the world that makes up MedinCell's team. Its inclusion in the Articles of Association is a fundamental act.

MedinCell shareholders also adopted all of the proposed resolutions, with the exception of the 22nd resolution, in accordance with the recommendation of the Management Board.

Resolutions adopted by the Combined General Meeting of MedinCell shareholders on Thursday, September 5, 2019:

  • Approval of the parent company and consolidated financial statements for the year ended 31 March 2019
  • Allocation of earnings
  • Approval of the agreements and commitments referred to in Articles L. 225-86 et seq. of the French Commercial Code
  • Renewal of mandates of some of the members of the Supervisory Board:
    • Anh Nguyen
    • Philippe Guy
    • Virginie Lleu
    • Karine Lignel, CM-CIC Innovation representative
  • Determination of the remuneration of the members of the Supervisory Board
  • Approval of the compensation due or granted to the Chairman of the Management Board, members of the Management Board and the Chairman of the Supervisory Board for the financial year ended 31 March 2019
  • Approval of the remuneration policy applicable to the Chairman of the Management Board, members of the Management Board, the Chairman of the Supervisory Board and members of the Supervisory Board
  • Authorization to be granted to the Management Board to enable the Company to purchase its own shares and to reduce the share capital by cancelling treasury shares
  • Delegation of authority to the Management Board to issue and allocate warrants to subscribe for ordinary shares with cancellation of preferential subscription rights for the benefit of a category of persons
  • Amendment of Article 2 of the Articles of Association in order to provide for the “Raison d’être” of the Company
  • Powers to carry out formalities

Made mandatory by law, the 22nd resolution was rejected, in accordance with the recommendation of the Management Board, which favours instruments other than the company savings plan to give employees access to the company's capital in order to ensure that their interests are aligned with those of all shareholders.

The full results of all the resolutions voted at the General Meeting can be consulted on the Company's website (medincell.com) under the heading Investors / General Meeting.

About MedinCell

MedinCell is a clinical stage pharmaceutical company that develops a portfolio of long-acting injectable products in various therapeutic areas by combining its proprietary BEPO® technology with active ingredients already known and marketed. Through the controlled and extended release of the active pharmaceutical ingredient, MedinCell makes medical treatments more efficient, particularly thanks to improved compliance, i.e. compliance with medical prescriptions, and to a significant reduction in the quantity of medication required as part of a one-off or chronic treatment. The BEPO® technology makes it possible to control and guarantee the regular delivery of a drug at the optimal therapeutic dose for several days, weeks or months starting from the subcutaneous or local injection of a simple deposit of a few millimeters, fully bioresorbable. Based in Montpellier, MedinCell currently employs more than 130 people representing over 25 different nationalities.

This press release may contain forward-looking statements, especially on the Company’s progress of its clinical trials. Although the Company believes that its expectations are based on reasonable assumptions, any statements other than statements of historical facts that may be contained in this press release relating to future events are subject to change without notice, factors beyond the Company's control and the Company's financial capabilities.

These statements may include, but are not limited to, any statement beginning with, followed by or including words or phrases such as "objective", "believe", "anticipate", "foresee", "aim", "intend", "may", "anticipate", "estimate", "plan", "project", "will", "may", "probably", "should", "could" and other words and phrases of the same meaning or used in negative form. Forward-looking statements are subject to inherent risks and uncertainties beyond the Company's control that may, if any, cause actual results, performance or achievements to differ materially from those anticipated or expressed explicitly or implicitly by such forward-looking statements. A list and description of these risks, contingencies and uncertainties can be found in the documents filed by the Company with the Autorité des Marchés Financiers (AMF) pursuant to its regulatory obligations, including the Company's registration document, registered with the AMF on September 4, 2018 under number I. 18-062, as well as in the documents and reports to be published subsequently by the Company. In addition, these forward-looking statements speak only as of the date of this press release. Readers are cautioned not to place undue reliance on these forward-looking statements. Except as required by law, the Company does not undertake any obligation to publicly update these forward-looking statements or to update the reasons why actual results could differ materially from those anticipated by the forward-looking statements, including in the event that new information becomes available. The Company's update of one or more forward-looking statements does not imply that the Company will make any further updates to such forward-looking statements or other forward-looking statements.

This press release is for information purposes only. The information contained herein does not constitute an offer to sell or a solicitation of an offer to buy or subscribe for the Company's shares in any jurisdiction, in particular in France. Similarly, this press release does not constitute investment advice and should not be treated as such. It is not related to the investment objectives, financial situation or specific needs of any recipient. It should not deprive the recipients of the opportunity to exercise their own judgment. All opinions expressed in this document are subject to change without notice. The distribution of this press release may be subject to legal restrictions in certain jurisdictions. Persons who come to know about this press release are required to inquire about and comply with these restrictions.

Contacts

MedinCell
David Heuzé
Communication leader
david.heuze@medincell.com
+33 (0)6 83 25 21 86

NewCap
Louis-Victor Delouvrier / Alexia Faure
Investor relations
medincell@newcap.eu
+33 (0)1 44 71 94 94

NewCap
Nicolas Merigeau
Media relations
medincell@newcap.eu
+33 (0)1 44 71 94 94

Contacts

MedinCell
David Heuzé
Communication leader
david.heuze@medincell.com
+33 (0)6 83 25 21 86

NewCap
Louis-Victor Delouvrier / Alexia Faure
Investor relations
medincell@newcap.eu
+33 (0)1 44 71 94 94

NewCap
Nicolas Merigeau
Media relations
medincell@newcap.eu
+33 (0)1 44 71 94 94