Arpida Ltd. (SWX: ARPN) today published the agenda for the Annual General Meeting of Shareholders, to be held in Basel on 7 May 2008. The invitation appears today in several Swiss media and will be sent to all registered Arpida shareholders. The agenda is available on the website www.arpida.com.
Apart from the yearly recurring agenda items, Arpida s Board of Directors will put two additional proposals to the shareholders.
The first additional agenda item relates to the proposed appointment of Elmar Schnee to the Board of Directors.
Elmar Schnee is a highly experienced Pharma executive who has gathered a wealth of international experience at several large and small pharmaceutical companies. He is currently President of Merck Serono S.A. and Regular Member of the Executive Board and General Partner of Merck KGaA, with responsibility for the Pharmaceuticals business sector. Mr Schnee is a Swiss national.
The terms of three current Arpida Board members expire in the AGM of 7 May 2008 and all three will stand for re-election. Professor Nam-Hai Chua, a Board member since 2004, has resigned from the Board.
The second additional proposal is aimed at increasing Arpida s flexibility in terms of potential financing instruments. In the past, Arpida s funds have primarily been provided by equity investors through the issue of shares. Going forward, Arpida may consider alternative sources of funding such as, for instance, convertible bonds.
In order to create the possibility to issue such instruments, the Company will ask its shareholders to make the necessary changes to its Articles of Association. If the shareholders meeting approves these changes, Arpida will have the possibility to issue a total of no more than 3.2 million shares (15% of the currently outstanding share capital), either via a straight equity issue (authorised capital) or via conversion of bonds (conditional capital). Arpida currently has no intention to use this capital. This proposed additional capital cannot be used for the granting of employee options.
Apart from the yearly recurring agenda items, Arpida s Board of Directors will put two additional proposals to the shareholders.
The first additional agenda item relates to the proposed appointment of Elmar Schnee to the Board of Directors.
Elmar Schnee is a highly experienced Pharma executive who has gathered a wealth of international experience at several large and small pharmaceutical companies. He is currently President of Merck Serono S.A. and Regular Member of the Executive Board and General Partner of Merck KGaA, with responsibility for the Pharmaceuticals business sector. Mr Schnee is a Swiss national.
The terms of three current Arpida Board members expire in the AGM of 7 May 2008 and all three will stand for re-election. Professor Nam-Hai Chua, a Board member since 2004, has resigned from the Board.
The second additional proposal is aimed at increasing Arpida s flexibility in terms of potential financing instruments. In the past, Arpida s funds have primarily been provided by equity investors through the issue of shares. Going forward, Arpida may consider alternative sources of funding such as, for instance, convertible bonds.
In order to create the possibility to issue such instruments, the Company will ask its shareholders to make the necessary changes to its Articles of Association. If the shareholders meeting approves these changes, Arpida will have the possibility to issue a total of no more than 3.2 million shares (15% of the currently outstanding share capital), either via a straight equity issue (authorised capital) or via conversion of bonds (conditional capital). Arpida currently has no intention to use this capital. This proposed additional capital cannot be used for the granting of employee options.
