London (UK), October 30 2024 (11:00 CET) – Vidac Pharma Holdings Plc. (Hamburg and Stuttgart: T9G; ISIN:GB00BM9XQ619; WKN: A3DTUQ), a clinical-stage oncology biopharmaceutical company pioneering a novel class of cancer treatments, held its Annual General Meeting (AGM). We are pleased to announce that the meeting was attended by shareholders representing over 90% of the total shares, reflecting strong shareholder engagement and commitment to the Company's direction and governance.
Key Resolutions and Outcomes from the AGM:
- Approval of Annual Accounts:The shareholders received and adopted the annual accounts for the financial year ended December 31, 2023, together with the latest report of the Board of Directors and the Auditor’s report.
- Re-election of Audit Committee:The AGM saw the successful re-election of members of the Audit Committee, underscoring continued confidence in their oversight capabilities.
- Board of Directors:Existing directors of the Company have been re-elected, ensuring continuity and stability in our strategic leadership.
- Statutory Auditors:AuditHelp LTD, located at 86-90 Paul Street, London, has been re-appointed as the Statutory Auditors, reinforcing our commitment to transparency and rigorous financial scrutiny.
- Option Plan and M&A Approvals:
- The Members of the Option Committee were approved to prepare and execute an option plan, not exceeding 10% of the existing issued share capital.
- The Board of Directors was authorized to enter any legally binding transaction, including investments, joint ventures, M&A, and fundraising activities such as crowdfunding and the issuance of convertible instruments.
- Share Allotment Authority:The Directors were authorized, in line with Section 551 of the Companies Act 2006, to allot shares and grant rights up to an aggregate nominal amount of £5,000,000. This includes provisions for equity securities in connection with a fully pre-emptive offer to existing shareholders and new investors meeting specified investment criteria.
- Disapplication of Pre-emption Rights:In accordance with sections 570 and 573 of the Companies Act 2006, the AGM granted the Board authority to allot equity securities for cash as if section 561(1) did not apply, facilitating flexible financial management.
Future Outlook: VIDAC PHARMA HOLDING PLC is poised for a robust year ahead, with solid strategic initiatives driven by a strong leadership team. We are committed to leveraging the opportunities and navigating the challenges of the market to deliver enhanced value to our shareholders and stakeholders.
For detailed information on each of the resolutions proposed to all shareholders three weeks ago and more insights into the discussions at the AGM, please contact our Company's secretary Nataliia Kronik or the Company directly.
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Vidac Pharma Holding Plc investors@vidacpharma.com |
Natalia Kroknik |
About Vidac Pharma
Vidac Pharma is a clinical-stage biopharmaceutical company dedicated to discovering and developing first-in-class medicines to help people suffering from a range of oncologic and onco-dermatologic diseases. Vidac develops first-in-class anti-cancer drugs by modifying the hyper glycolytic tumor microenvironment, targeting the overexpression and wrong anchoring of the Hexokinase 2 metabolic checkpoint (HK2) in cancer cells, to renormalize tumor microenvironment and selectively provoke their programmed death without affecting surrounding normal tissue. VDA-1102, a first drug candidate of Vidac Pharma has shown to be effective against advanced Actinic Keratosis (AK) and interim results in Cutaneous T-cell Lymphoma (CTCL) yielded a positive effect in Phase 2 trials in humans.
www.vidacpharma.com
Important information
The information in this press release does not constitute a public offer to sell or a solicitation to submit an offer to buy or subscribe to shares of Vidac Pharma Holding PLC, but is for informational purposes only. The contents of this announcement include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements can be identified by the use of forward-looking terminology, including the words "believes", "estimates," "anticipates", "expects", "intends", "may", "will", "plans", "continue", "ongoing", "potential", "predict", "project", "target", "seek" or "should", and include statements the Company makes concerning the intended results of its strategy. By their nature, forward-looking statements involve risks and uncertainties, and readers are cautioned that any such forward-looking statements are not guarantees of future performance. The Company's actual results may differ materially from those predicted by the forward-looking statements. The Company undertakes no obligation to publicly update or revise forward-looking statements, except as may be required by law.