Annual General Meeting In BioInvent

LUND, Sweden--(BUSINESS WIRE)--Regulatory News:

BioInvent’s (STO:BINV) Annual General Meeting (the “AGM”) on 22 April resolved to approve the Board of Director’s resolution to issue new shares with pre-emptive right for the existing shareholders. Birgitta Stymne Göransson was elected as new board member.

The AGM voted in favor of adopting the income statements and balance sheets for the Group and the parent company for the financial year 2014, and decided that the profits at the disposal of SEK 15,750,427 should be carried forward.

The AGM discharged the Board members and the CEO from liability, reelected the ordinary Board members Björn O. Nilsson, Dharminder Chahal, Lars Ingelmark, Jonas Jendi and Elisabeth Lindner, and elected Birgitta Stymne Göransson as a new Board member. Björn O. Nilsson was re-elected Chairman of the Board.

The AGM resolved that the Board’s fees shall remain unchanged at SEK 400,000 to the Chairman of the Board and SEK 160,000 to each of the other Board members, who are not employed by the company. In addition hereto, the AGM resolved on fees for committee work in the amounts of SEK 50,000 to the Chairman of the Audit Committee, SEK 40,000 to each of the other members of the Audit Committee, if any, and SEK 20,000 to each of the members in the Remuneration Committee. Fee for committee work shall not be paid to the Chairman of the Board.

Further, the AGM resolved in accordance with the Board’s proposal on guidelines for remuneration of executive management.

The AGM resolved to approve the resolution by the Board of Directors on 20 March 2015 to issue new shares with pre-emptive right for the existing shareholders. According to the final terms resolved by the Board of Directors on 16 April 2015, each share in BioInvent held on the record date for participation in the rights issue on 24 April 2015, entitles to one (1) subscription right. Nine (9) subscription rights entitle to subscription for four (4) new shares. The subscription price has been set to SEK 1,55 per share, which represents total rights issue proceeds of approx. MSEK 77,7 before transaction costs. The subscription period will run from 28 April 2015 until 13 May 2015, with a right for Board of Directors to extend the subscription period. By the new share issue, the company’s share capital will be increased by not more than SEK 4,010,312.88, to a maximum total share capital of SEK 13,033,516.88, through the issuance of not more than 50,128,911 new shares.

Additional information regarding the rights issue will be included in the prospectus expected to be published around 27 April 2015.

Finally, the AGM authorised the Board of Directors to resolve on the issue of new shares, on one or several occasions during the period up to the next annual general meeting. The number of shares to be issued by virtue of the authorisation shall not exceed 15 per cent of the registered share capital (as per the date of the resolution on the issue of new shares). The issue may take place with or without a deviation from the shareholders’ preferential right and with or without provisions on contribution in kind or set-off or any other terms. The purpose of the authorisation is to increase the company’s financial flexibility and enable acquisitions by payment of shares. If the Board resolves on an issue with deviation from the shareholders’ preferential right the reason may be to add new capital and/or new company owners of strategic importance to the company and/or the acquisition of other companies or businesses. At a deviation from the shareholders’ preferential right, the issue rate shall be determined in accordance with market conditions. Other terms may be resolved by the Board.

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To the editors:

About BioInvent

BioInvent International AB is a research-based pharmaceutical company focused on discovery and development of innovative antibody-based drugs against cancer.

The company has unique expertise in antibody drug development from initial concept to late clinical phase. The screening tool F.I.R.S.T.TM and the antibody library n-CoDeR® are two patented tools that enable identification of relevant human antibodies and disease targets during the discovery phase. BioInvent has also considerable experience in and a facility for process development and production of antibodies for clinical studies. The scope and strength of this platform is also used to develop antibody-based drugs in collaboration with partners who finance the development of new drugs, and provide BioInvent with the right to milestone payments and royalties on sales. These partners include Bayer Pharma, Daiichi Sankyo, Mitsubishi Tanabe Pharma, Servier, and Xoma. More information is available at www.bioinvent.com.

BioInvent International AB (publ) Co. reg. No. 556537-7263 Visiting address: Sölvegatan 41 Mailing address: 223 70 LUND Phone: +46 (0)46 286 85 50 info@bioinvent.com www.bioinvent.com

Legal disclaimer This press release may contain forward-looking statements which reflect BioInvent’s current view on future events and financial and operational development. Words such as “intend”, “expect”, “anticipate”, “may”, “believe”, “plan”, “estimate” and other expressions which imply indications or predictions of future development or trends, and which are not based on historical facts, are intended to identify forward-looking statements. Forward-looking statements inherently involve both known and unknown risks and uncertainties because they depend on future events and circumstances. Forward-looking statements do not guarantee future results or development and the real outcome could differ materially from the forward-looking statements.

Information disclosed in this press release is provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. The information was submitted for publication at 6.45 p.m. CET, on 22 April 2015.

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