Addex Shareholders Approve All Resolutions at Annual General Meeting
July 01 2024 - 1:00AM
Ad Hoc Announcement Pursuant to Art. 53
LR
Geneva, Switzerland, July 1,
2024 - Addex Therapeutics (SIX: ADXN and
Nasdaq: ADXN), a clinical-stage pharmaceutical company pioneering
allosteric modulation-based drug discovery and development,
announced today that its shareholders approved, with a large
majority, all proposals of the board of directors in its 2024
Annual General Meeting (AGM). The votes represented 33.79% of the
company's outstanding capital.
Addex shareholders approved the 2023 annual
report, the 2023 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 2023.
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 2024 business
year and Robert P. Briner, attorney-at-law, was re-elected as the
independent voting rights representative until the 2025 Annual
General Meeting.
Addex shareholders also approved the amendments
of the Articles of Association related to the increase of the
capital band, the increase of the conditional share capital and
other amendments required by the revised corporate law, including
matters related to shareholders and general meetings, the
additional attributions of the board of directors, the additional
limits related to the compensation of the board and executive
management, and the new definition of mandates outside the group
allowed for members of the board of directors.
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 biopharmaceutical company focused on developing a
portfolio of novel small molecule allosteric modulators for
neurological disorders. Addex’s lead drug candidate, ADX71149
(mGlu2 positive allosteric modulator or PAM), developed in
collaboration with Janssen Pharmaceuticals Inc., has recently
completed a Phase 2 clinical study for the treatment of epilepsy.
The Company’s second clinical program, dipraglurant (mGlu5 negative
allosteric modulator or NAM), is under evaluation for future
development in dyskinesia associated with Parkinson’s disease and
post-stroke/TBI recovery. Addex partnership with Indivior on GABAB
PAM is advancing multiple drug candidates through clinical
candidate selection for substance use disorder. Under the agreement
with Indivior, Addex is advancing an independent GABAB PAM program
for chronic cough through clinical candidate selection. Addex also
holds a 20% share in a private company, Neurosterix LLC which is
advancing a portfolio of allosteric modulator programs including
M4PAM for schizophrenia, mGlu7NAM for stress related disorders and
mGlu2NAM for mild neurocognitive disorders. 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. For more
information, visit www.addextherapeutics.com
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, 2023, as filed
with the SEC on April 18, 2024, 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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