MONTPELLIER, France--(BUSINESS WIRE)--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.
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.
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