Faron Pharmaceuticals Oy has announced its Annual General Meeting (AGM) to be held on April 5, 2024, at 10:00 a.m. EEST in Turku, Finland. The meeting will cover various agenda items, including the presentation of the financial statements, the report of the Board of Directors, and the auditor's report for 2023. The Board proposes that no dividend for the financial year 2023 will be paid and that the losses of the Company for the financial year, amounting to EUR 30.9 million (IFRS), will be carried forward to the reserve for invested unrestricted equity.
The Board also proposes the remuneration of the members of the Board, suggesting that the annual remuneration of the members of the Board remain unchanged and that meeting fees will be paid to the Board members based on specific criteria. Additionally, the Board proposes that five members be elected to the Board, and specific candidates have been proposed for re-election.
Furthermore, the Board proposes the remuneration of the auditor and the re-election of PricewaterhouseCoopers Oy ("PwC") as the Company's auditor. Lastly, the establishment of a Shareholders' Nomination Board is proposed, with the main duty of preparing proposals on the number, composition, and remuneration of the members of the Board to the Annual General Meeting and, if needed, to the Extraordinary General Meeting.
The Company's Annual Report 2023 is available for review and downloading on the Company's website. Shareholders are encouraged to review the full agenda and proposals for the AGM on the Company's website.