Kinarus Therapeutics Shareholders Approve All Board Proposals at the 2023 Annual General Meeting

Kinarus Therapeutics Holding AG / Key word(s): AGMEGM
Kinarus Therapeutics Shareholders Approve All Board Proposals at the 2023 Annual General Meeting
29.06.2023 / 18:00 CET/CEST

MEDIA RELEASE

Basel, Switzerland, 29 June 2023. Kinarus Therapeutics Holding AG (SIX: KNRS) (“Kinarus” or the "Company"), a clinical-stage biopharmaceutical company developing novel therapeutics to treat viral, respiratory, and ophthalmic diseases, announces that its shareholders have approved all proposals by the Board of Directors at the 2023 Annual General Meeting ("AGM"), held yesterday at the Radisson Blu Hotel Basel, Steinentorstrasse 25, 4051 Basel, Switzerland. In total, 298’358’348 shares equalling 26.09% of the Company’s share capital were represented.

Approval of the 2022 Annual Report and 2022 Management Report, results appropriation, and discharge

The shareholders endorsed the Annual Report, the consolidated financial statements and the statutory financial statements for 2022, the Management Report and the appropriation of the net loss. Furthermore, the shareholders granted discharge to the members of the Board of Directors and Executive Management for the financial year 2022.

Members of the Board of Directors and the Compensation Committee re-elected

Shareholders re-elected Hari Kumar, Eugene Tierney, Silvio Inderbitzin and Alexander Bausch as members of the Board of Directors, each for a term of one year. As members of the Compensation Committee, the shareholders re-elected Hari Kumar, Eugene Tierney and Silvio Inderbitzin.

Statutory Auditors and Independent Proxy re-elected

Shareholders re-elected Ernst & Young AG, in Basel, Switzerland as the Company’s statutory auditors for the financial year 2023 and KBT Treuhand AG Zürich, in Zurich, Switzerland as the Company’s independent proxy until the completion of the 2024 AGM.

Compensation Report and remuneration for Board and Executive Management approved

In a consultative vote, the shareholders endorsed the Compensation Report 2022. In separate binding votes, the shareholders agreed to the compensation for members of the Board of Directors (maximum total amount of compensation covering the period from the 2023 AGM to the 2024 AGM) and for the members of the Executive Management (maximum total amount of fixed compensation for 2023).

Consent to conditional capital increase

The shareholders approved a conditional capital increase by CHF 721,271.77.

AGM documents

The “Invitation to the 2023 Annual General Meeting” with full proposals and explanations on the agenda items are available on Kinarus’ website at https://ir.kinarus.com/2023-agm/. From the end of next week, the minutes of the 2023 AGM will also be available.

Kinarus Therapeutics Holding AG (www.kinarus.com) was founded in 2017 by experienced pharmaceutical executives in Basel, Switzerland. The Kinarus team utilizes its knowledge and drug development competencies to in-license and develop mid-stage clinical assets in which they have identified an increased probability of clinical and regulatory success and a rapid path to market. Kinarus possesses the exclusive worldwide license to pamapimod, covering all indications, and has patented KIN001, its novel mechanism in combination with pioglitazone.

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Legal disclaimer

THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL NOR AN INTIMATION TO SUBMIT A PROPOSAL FOR THE ACQUISITION OF SECURITIES OF KINARUS THERAPEUTICS HOLDING AG. THIS PRESS RELEASE IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, INTO OR WITHIN ANY JURISDICTION WHERE IT IS UNLAWFUL TO BE DISTRIBUTED.

End of Media Release