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2016-05-13

Genovis AB: Press release from Genovis AB (publ) Annual General Meeting May 12, 2016

The Annual General Meeting adopted the following resolutions:

· The balance sheet and income statement were adopted after the
Meeting resolved to reduce the statutory reserve to cover the loss so
that SEK -471,037 is carried forward.

· The Board and the Chief Executive Officer were discharged from
liability.

· The Board shall consist until the next AGM of five ordinary
members without deputies.

· Ordinary members Kenth Petersson, Jacob Engellau, Mikael Lönn and
Lena Mårtensson Wernrud were re-elected. Mårten Winge was elected to
serve as a new Board member.

Mårten Winge was elected Chairperson of the Board. Sarah Fredriksson declined re-election.

· Remuneration will be paid to the Board of Directors in the amount
of SEK 75,000 to Board members and SEK 150,000 to the Chairperson of
the Board.

· Remuneration to the auditors will be paid on account.

· A Nomination Committee will be formed with representatives of the
four largest shareholders at September 30, 2016

· Guidelines for remuneration to the Chief Executive Officer and
other senior executives were adopted in accordance with the Board's
proposal.

· The Meeting resolved to approve the Board's proposal to conduct a
preferential rights issue in which two (2) existing shares entitle
the holder to subscription for one (1) new shares at a subscription
price of SEK 1.25. As a result of this decision share capital could
increase by a maximum of SEK 4,607,846.75 through the issuance of up
to 18,431,387 shares.

· The AGM resolved on the authorization to issue shares with or
without preferential rights for existing shareholders. As a result of
this resolution, share capital could increase by a maximum of SEK
3,500,000 through the issuance of a maximum of 14,000,000 shares.

For more information, please contact: Fredrik Olsson, CEO, Genovis AB
Tel: 0046 (0)46 -101233 fredrik.olsson@genovis.com
(sarah.fredriksson@genovis.com)

ABOUT GENOVIS

Genovis is a global company that offers enzyme products that
facilitate development and quality control of biologics to customers
in the pharmaceutical and medical technology industries. The Company
markets several enzyme products ("SmartEnzymes") in innovative
product formats all over the world.

The organization consists of Genovis AB and the wholly owned
subsidiary Genovis Inc. in the US. Genovis Inc. handles all sales of
enzyme products on the North American market and Genovis AB handles
sales in the rest of the world. Genovis shares are listed on Nasdaq
First North Stockholm and Consensus is the Company's Certified
Adviser, t: +46(0) 31 745 50 00.

This press release is a translation of the Swedish original. In the
event of any discrepancy between this translation and the Swedish
original, the Swedish version shall prevail.

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http://news.cision.com/genovis-ab/r/press-release-from-genovis-ab--publ-...
http://mb.cision.com/Main/1712/2008529/515366.pdf

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