Business
Results of AGM
Results of AGM.
About this update from Faron Pharmaceuticals Oy
[{"type":"text","content":"\n \n \n Faron Pharmaceuticals Oy\n \n \n (\"Faron or the \"Company\")\n \n \n Results of the Annual General Meeting and Decisions of the Board of Directors\n \n \n \n Company announcement, March 24, 2023 at 15.30 (EET) / 13.30\n \n \n PM (GMT) / 09.30 AM (EDT)\n \n \n \n \n \n \n TURKU, FINLAND / BOSTON, MA\n - The annual general meeting (\"AGM\") of Faron Pharmaceuticals Oy (AIM: FARN, First North: FARON) took place at BioCity, meeting room \"Ministeri\" in Turku, Finland today, March 24, 2023. The AGM approved all the proposals of the Board of Directors (\"Board\") and its committees, set out in the notice of the AGM published on March 3, 2023.\n \n \n \n \n \n \n Decisions of the AGM\n \n \n \n \n \n \n \n The AGM adopted the financial statements of the Company and resolved to discharge the members of the Board and the CEO of the Company from liability for the financial year 2022.\n \n \n No dividend for the financial year 2022 will be paid, and the losses of the Company for the financial year, amounting to EUR 28.7 Million (IFRS), will be carried forward to the reserve for invested unrestricted equity.\n \n \n \n Composition and remuneration of the Board\n \n \n \n \n \n \n The number of members of the Board was confirmed as seven. Frank Armstrong, John Poulos, Leopoldo Zambeletti, Markku Jalkanen, Anne Whitaker and Erik Ostrowski were re-elected to the Board and Tuomo Pätsi was elected as a new member to the Board for a term that ends at the end of the next AGM.\n \n \n The AGM resolved that the annual remuneration of the members of the Board remain unchanged and that EUR 35,000 will be paid to the Board members, in addition to which an annual remuneration of EUR 35,000 will be paid to the chair of the Board. In addition, a further annual remuneration of EUR 11,000 will be paid to the chair of the audit committee, a further annual remuneration of EUR 9,000 will be paid to the chair of the remuneration committee and a further annual remuneration of EUR 6,000 will be paid to the chair of the nomination committee. In addition, a further annual remuneration of EUR 6,000 will be paid to the audit committee members, a further annual remuneration of EUR 5,000 will be paid to the remuneration committee members and a further annual remuneration of EUR 3,000 will be paid to the nomination committee m...