KARO BIO ANNUAL GENERAL MEETING
Friday, April 25, 2008
At Karo Bio AB’s annual general meeting on Friday April 25, 2008 the following was resolved.
Dividend
No dividend is to be paid for the financial year 2007.
Board of directors
Leif Carlsson, new election
Dana M. Fowlkes, re-election
Laurent Leksell, re-election
Birgit Stattin Norinder, re-election
Leon E. Rosenberg, re-election
Per Olof Wallström, re-election
Leon E. Rosenberg was elected chairman and Birgit Stattin Norinder was elected vice chairman of the board of directors.
Nominating committee
The annual general meeting resolved that the four largest shareholders as of August 31, 2008, not being represented in the board of directors, shall appoint one representative each, which together with the chairman of the board shall be members of the nominating committee in respect of the 2009 annual general meeting. The representatives shall be appointed and announced no later than six months before the annual general meeting 2009.
Guidelines for remuneration of the executive management
The annual general meeting resolved to adopt the board of director’s proposal regarding guidelines for salary and other remuneration of the executive management of Karo Bio.
For further information, please contact:
Per Olof Wallström, President & Chief Executive Officer
Telephone: +46 8 608 60 20
Per Otteskog, Senior Vice President Investor Relations
Telephone: +46 8 608 60 18
Erika Johnson, Chief Financial Officer
Telephone: +46 8 608 60 52
This press release is also available online at: www.karobio.com and www.newsroom.cision.com
About Karo Bio
Karo Bio is a drug discovery and development company specializing in nuclear receptors for the development of novel pharmaceuticals.
The Company has a strong project portfolio with innovative molecules that primarily target metabolic diseases such as diabetes, atherosclerosis and dyslipidemia. In all of these areas there are significant market opportunities and a need for pharmaceuticals with new mechanisms of action. Karo Bio intends to bring selected compounds within niche therapeutic areas into late stage clinical develop¬ment and, potentially, to the market. In addition to pursuing niche opportunities, Karo Bio continues to develop compounds aimed at treatment of broad patient populations to clinical proof of concept before out licensing.
In addition to the proprietary projects, Karo Bio has three strategic collaborations with international pharmaceutical companies for development of innovative therapies for the treatment of common diseases.
Karo Bio is listed on the OMX Nordic Exchange Stockholm since 1998 (Reuters: KARO.ST).