Santhera Shareholders Approve All Board Proposals at AGM

Santhera Pharmaceuticals, a Swiss company listed on the SIX Swiss Exchange, held its Annual General Meeting (AGM) on June 18, 2024, in Pratteln, Switzerland. The shareholders approved all the Board of Directors' motions with a notable majority. The AGM saw participation from shareholders representing 4,535,785 shares, constituting 35.9% of the company's share capital.

Key decisions made during the AGM included the approval of the 2023 Annual Report, annual financial statements, and the consolidated financial statements. Additionally, shareholders approved the appropriation of the annual result and its offset against free reserves. The Board of Directors and Executive Management members were also granted discharge for their activities in the 2023 financial year.

Several amendments to the Articles of Incorporation were approved through four separate votes. These amendments were made to align the company's Articles with the revised Swiss corporate law, effective January 1, 2023. The revisions aim to enhance corporate governance, modernize corporate law, and integrate remuneration rules for listed companies into the statute.

The shareholders re-elected Thomas Meier, PhD, Philipp Gutzwiller, Bradley C. Meyer, and Otto Schwarz, PhD, to the Board of Directors for another one-year term. Thomas Meier, PhD, was also re-elected as Chairman of the Board. For the Compensation Committee, Thomas Meier, PhD, and Bradley C. Meyer (the Committee Chairman) were confirmed by the shareholders.

In a consultative vote, the shareholders endorsed the 2023 Compensation Report. Additionally, they approved the compensation packages for the Board of Directors and Executive Management. This included the maximum total amount of fixed compensation for the Board covering the period from the 2024 AGM to the 2025 AGM, and for the Executive Management, it covered the maximum total amount of fixed compensation for 2025, variable cash compensation for 2023, and variable compensation in the form of Share Appreciation Rights and Performance Share Units for 2024.

Santhera Pharmaceuticals focuses on developing and commercializing innovative treatments for rare neuromuscular and pulmonary diseases. The company has an exclusive global license from ReveraGen for AGAMREE® (vamorolone), a dissociative steroid studied as an alternative to standard corticosteroids for Duchenne muscular dystrophy (DMD). AGAMREE is approved for DMD treatment by the FDA in the U.S., the EMA in the EU, and the MHRA in the UK. Santhera has also out-licensed AGAMREE's rights in North America to Catalyst Pharmaceuticals, Inc. and in China to Sperogenix Therapeutics.

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