Idorsia holds its Annual General Meeting of Shareholders
- All Board proposals approved by the Shareholders
Allschwil, Switzerland – May 4, 2023
At today’s Annual General Meeting (AGM) of Idorsia Ltd (SIX: IDIA) held in Basel, Switzerland, shareholders voted in favor of all proposals by the Board of Directors with a significant majority.
The meeting was attended by 146 shareholders, representing a total of 89’693’506 shares, or 47.73 % of the total outstanding shares.
Led by the Chairman of the Board, Mathieu Simon, and by the Chief Executive Officer, Jean-Paul Clozel, the company presented the highlights of 2022.
Mathieu Simon, MD, Chairman of the Board of Directors of Idorsia, commented:
“Idorsia has made significant progress in a short period, transforming from a clinical-stage company to a fully-fledged biopharmaceutical company with products available in multiple major markets. It is reassuring to see that such a high majority of our shareholders appreciate the company’s achievements and have given the management and Board their endorsement through their votes. I want to say thank you to the shareholders for their confidence, I’m sure that as the company executes on its strategic priorities they will be rewarded.”
The shareholders approved the Annual Report 2022, together with the Statutory and the Consolidated Financial Statements for 2022. Shareholders also endorsed the 2022 compensation report by way of consultative vote.
The shareholders approved the appropriation of available earnings and that the net loss for the year 2022 be carried forward.
The shareholders granted discharge to all members of the Board of Directors and of the Executive Management for the financial year 2022.
The shareholders re-elected all Board members and elected Dr. Sophie Kornowski as a new Board member for a term of office until the conclusion of the AGM 2024. In addition, the shareholders elected Mathieu Simon as Chairman of the Board, and Felix R. Ehrat (Committee Chair), Srishti Gupta, Mathieu Simon, and Sophie Kornowski to the Nominating, Governance and Compensation Committee.
Following the AGM, the Board of Directors of Idorsia comprises a total of 8 members: Mathieu Simon (Chairman), Jean-Paul Clozel, Jörn Aldag, Felix R. Ehrat, Srishti Gupta, Peter Kellogg, Sophie Kornowski, and Sandy Mahatme.
Shareholders approved the aggregate maximum compensation for the Board of Directors (Non-Executive Directors) for the term until the AGM 2024 and the aggregate compensation amount for the Idorsia Executive Committee (IEC) for the financial year 2024.
BachmannPartner AG, who was represented by Mr Alain Bachmann, was re-elected as Independent Proxy for a term of office until the conclusion of the AGM 2024.
Ernst & Young was re-elected as the company's statutory auditors for the business year 2023.
Finally, on January 1, 2023, the Swiss corporate law reform entered into force. Shareholders approved all amendments to the company Articles of Association, meaning that Idorsia is now compliant with the new Swiss corporate law.
Notes to the editor
Idorsia Ltd is reaching out for more – We have more ideas, we see more opportunities and we want to help more patients. In order to achieve this, we will develop Idorsia into a leading biopharmaceutical company, with a strong scientific core.
Headquartered near Basel, Switzerland – a European biotech-hub – Idorsia is specialized in the discovery, development and commercialization of small molecules to transform the horizon of therapeutic options. Idorsia has a 20-year heritage of drug discovery, a broad portfolio of innovative drugs in the pipeline, an experienced team of professionals covering all disciplines from bench to bedside, and commercial operations in Europe, Japan, and the US – the ideal constellation for bringing innovative medicines to patients.
Idorsia was listed on the SIX Swiss Exchange (ticker symbol: IDIA) in June 2017 and has over 1,300 highly qualified specialists dedicated to realizing our ambitious targets.
For further information, please contact
Andrew C. Weiss
Senior Vice President, Head of Investor Relations & Corporate Communications
Idorsia Pharmaceuticals Ltd, Hegenheimermattweg 91, CH-4123 Allschwil
+41 58 844 10 10
The above information contains certain "forward-looking statements", relating to the company's business, which can be identified by the use of forward-looking terminology such as "estimates", "believes", "expects", "may", "are expected to", "will", "will continue", "should", "would be", "seeks", "pending" or "anticipates" or similar expressions, or by discussions of strategy, plans or intentions. Such statements include descriptions of the company's investment and research and development programs and anticipated expenditures in connection therewith, descriptions of new products expected to be introduced by the company and anticipated customer demand for such products and products in the company's existing portfolio. Such statements reflect the current views of the company with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements of the company to be materially different from any future results, performances or achievements that may be expressed or implied by such forward-looking statements. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected.