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2014-05-08

Karo Bio: Annual General Meeting 2014 in Karo Bio AB

STOCKHOLM, Sweden, May 8, 2014 - At todays Annual General Meeting in
Karo Bio the following main resolutions were passed.

The AGM voted in favour of adopting the income statements and balance
sheets for the Group and the parent company, and decided that fund at
the disposal of the general meeting, amounting to SEK 13,928,475,
including the loss for the year amounting to SEK -22,084,405, should
be carried forward. Thus, it was resolved that no dividend should be
paid for the financial year.

The AGM further discharged the Board members and the CEO from
liability, reelected the ordinary board members Göran Wessman,
Christer Fåhraeus, Per-Anders Johansson and Sibylle Lenz and elected
Anders Lönner and Thomas Hedner as new Board members. Anders Lönner
was elected Chairman of the Board.

Further, the AGM resolved that the Board's fees shall remain unchanged
at SEK 420,000 for the Chairman of the Board and SEK 150,000 for each
of the other members of the Board.

The accounting firm PwC was reelected as the Company's auditor until
the AGM 2015.

The AGM also resolved in accordance with the Board's proposal on
guidelines for remuneration of executive management.

Last, the Board was authorized to, on one or several occasions prior
to the next annual general, resolve on new share issues. The number
of shares to be issued by virtue of the authorization shall not
exceed 10 per cent of the registered share capital (at the time of
the share issue resolution). The new share may be made with our
without deviation from the shareholders' pre-emption right and with
or without terms of issue in kind or set-off or other terms. The
purpose of the authorization is to increase the company's financial
flexibility and enable acquisitions through payment with shares. If
the board of directors resolves on a share issue with deviation from
the shareholders' pre-emption right, the reasons shall be to provide
the company with new capital and/or new shareholders of strategic
importance for the company and/or acquisitions of other companies or
businesses. When deviating from the shareholders' pre-emption right
the basis for the subscription price shall be on market terms. Other
terms may be resolved by the Board.

For further information, please contact:
Henrik Palm, CFO, mobile phone +46 70 540 40 14 or e-mail
henrik.palm@karobio.se

About Karo Bio
Karo Bio is a research and development company focused on innovative
drugs for important medical needs. The world-leading knowledge of
nuclear receptors as target proteins for the development of
pharmaceuticals and their related mechanisms of action, are utilized
for developing novel, more effective and safer pharmaceuticals. Karo
Bio is active in preclinical development focused on the areas of
neuropsychiatry, inflammation, autoimmune diseases and cancer. Karo
Bio is based in Huddinge, Sweden. The company has around 40 employees
and is listed on NASDAQ OMX Stockholm

Karo Bio publishes this information in accordance with the Swedish
Securities Markets Act. The information was submitted for publication
on May 8, 2014, at 7:45 pm CET.

This press release is also available at www.karobio.com and
www.newsroom.cision.com

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http://news.cision.com/karo-bio/r/annual-general-meeting-2014-in-karo-bi...
http://mb.cision.com/Main/72/9582140/242643.pdf

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