Addex Shareholders Approve All Resolutions at Annual General Meeting
01 June 2023 - 3:00PM
Addex Shareholders Approve All Resolutions at Annual General
Meeting
Ad Hoc Announcement Pursuant to
Art. 53
LR
Geneva, Switzerland,
June 1,
2023 - Addex
Therapeutics (SIX: ADXN and Nasdaq: ADXN), a clinical-stage
pharmaceutical company pioneering allosteric modulation-based drug
discovery and development (“the Company”), announced today that its
shareholders approved, with a large majority, all of the proposals
of the board of directors in its 2023 Annual General Meeting (AGM).
The votes represented 32.24% of the company's outstanding
capital.
Addex shareholders approved the 2022 annual
report, the 2022 annual financial statements, the appropriation of
the results as well as the compensation report (the latter in a
consultative vote). All motions regarding the compensation of the
board of directors and the executive management were also approved.
In addition, discharge was granted to the members of the board of
directors and the executive management for their activities during
the business year 2022.
Dr. Vincent Lawton was re-elected as member and
chairman of the board of directors and member of the compensation
committee; Dr. Raymond Hill was re-elected as member of the board
of directors and member of the compensation committee; and Dr.
Roger Mills, Mr. Tim Dyer, Mr. Jake Nunn and Dr. Isaac Manke were
re-elected as members of the board of directors.
BDO SA were re-elected as the auditors for the 2023 business
year and Robert P. Briner, attorney-at-law, was re-elected as the
independent voting rights representative until the 2024 Annual
General Meeting.
Addex shareholders also approved the amendments
of the Articles of Association. They approved the creation of a
capital band, the increase of the conditional share capital, the
possibility to grant loans to members of the Board of Directors and
the Executive Management and the non-renewal of the exemption from
the duty to make an offer granted to Growth Equity Opportunities
Fund IV LLC and New Leaf Biopharma Opportunities on March 16, 2018,
but expired on March 21, 2023.
The detailed agenda can be found on Addex’s
website at
https://www.addextherapeutics.com/en/investors/general-meetings/
About Addex
Therapeutics:Addex Therapeutics is a
clinical-stage pharmaceutical company focused on the development
and commercialization of an emerging class of novel orally
available, small molecule drugs known as allosteric modulators for
neurological disorders. Allosteric modulators offer several
potential advantages over conventional, non-allosteric molecules
and may offer an improved therapeutic approach to conventional
"orthosteric" small molecule or biological drugs. Addex's
allosteric modulator drug discovery platform targets receptors and
other proteins that are recognized as essential for therapeutic
intervention. Addex's lead drug candidate, ADX71149 (mGlu2 positive
allosteric modulator or PAM), developed in collaboration with
Janssen Pharmaceuticals, Inc., is in a Phase 2 clinical trial for
the treatment of epilepsy. Addex's second clinical program,
dipraglurant (mGlu5 negative allosteric modulator or NAM), is under
evaluation for future development in a range of indications.
Indivior PLC has licensed Addex’s GABAB PAM program for the
development of drug candidates, with a focus on substance use
disorder. Addex is also advancing a broad preclinical pipeline,
which includes development of a range of GABAB PAMs for CMT1A,
chronic cough and several types of pain, mGlu7 NAM for stress
related disorders, mGlu2 NAM for mild neurocognitive disorders and
depression, M4 PAM for schizophrenia and other forms of
psychosis, as well as mGlu4 PAM and mGlu3 PAM. Addex shares are
listed on the SIX Swiss Exchange and American Depositary Shares
representing its shares are listed on the NASDAQ Capital Market,
and trade under the ticker symbol "ADXN" on each exchange.
Contacts:
Tim DyerChief
Executive OfficerTelephone: +41 22 884 15 55
PR@addextherapeutics.com |
Mike
SinclairPartner, Halsin Partners+44 (0)20 7318
2955msinclair@halsin.com |
Addex Forward Looking
Statements:This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, as amended, including statements about the
intended use of proceeds of the offering. The words “may,” “will,”
“could,” “would,” “should,” “expect,” “plan,” “anticipate,”
“intend,” “believe,” “estimate,” “predict,” “project,” “potential,”
“continue,” “target” and similar expressions are intended to
identify forward-looking statements, although not all
forward-looking statements contain these identifying words. Any
forward-looking statements in this press release, are based on
management's current expectations and beliefs and are subject to a
number of risks, uncertainties and important factors that may cause
actual events or results to differ materially from those expressed
or implied by any forward-looking statements contained in this
press release, including, without limitation, uncertainties related
to market conditions. These and other risks and uncertainties are
described in greater detail in the section entitled “Risk Factors”
in Addex Therapeutics’ Annual Report on Form 20-F for the year
ended December 31, 2022, as filed with the SEC on March 30, 2023,
the final prospectus supplement and accompanying prospectus and
other filings that Addex Therapeutics may make with the SEC in the
future. Any forward-looking statements contained in this press
release represent Addex Therapeutics’ views only as of the date
hereof and should not be relied upon as representing its views as
of any subsequent date. Addex Therapeutics explicitly disclaims any
obligation to update any forward-looking statements.
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