Alvotech : Main Results of Annual and Extraordinary General Meeting
June 07, 2024 at 04:16 pm EDT
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Published: 2024-06-07 22:05:00 CEST
Alvotech S.A.
Other information disclosed according to the rules of the Exchange
Main Results of Annual and Extraordinary General Meeting
The 2024 Annual and Extraordinary General Meeting (the "2024 AGM") of Alvotech (the "Company") was held on June 7, 2024, at Arendt House, 41A Avenue John F. Kennedy, L-2082 Luxembourg, Grand Duchy of Luxembourg.
Here are the main results of the 2024 AGM:
The 2024 AGM approved the Company's annual financial statements for the financial year ended December 31, 2023.
The 2024 AGM approved the consolidated financial statements of the Alvotech group for the financial year ended December 31, 2023.
The 2024 AGM acknowledged that the Company made a loss of USD 118,704,511 with respect to the financial year ende December 31, 2023, and resolves to carry forward such loss to the next financial year.
The 2024 AGM resolved to grant discharge to (a) Mr. Róbert Wessman, (b) Ms. Ann Merchant, (c) Ms. Lisa Graver, (d) Ms. Linda McGoldrick, (e) Mr. Richard Davies, (f) Mr. Tomas Ekman, (g) Mr. Faysal Kalmoua and (h) Mr. Arni Hardarson for the exercise of their respective mandate as member of the board of directors of the Company during the financial year ended December 31, 2023.
The 2024 AGM resolved to renew the mandate of Deloitte Audit, a société à responsabilité limitée existing under the laws of the Grand Duchy of Luxembourg, having its registered office at 20, Boulevard de Kockelscheuer, L-1821 Luxembourg, Grand Duchy of Luxembourg and registered with the Luxembourg Trade and Companies Register under number B 67895 as independent auditor (fr. réviseur d'entreprises agréé) of the Company in relation to the Company's annual financial statements and the consolidated financial statements of the Alvotech group for the financial year ending on December 31, 2024 until the annual general meeting of the Company approving such financial statements.
The 2024 AGM resolved to appoint Mr. Hjörleifur Pálsson as additional Director of the Company. Mr. Hjörleifur Pálsson's appointment as an additional director of the Company is in effect as of June 7, 2024 and until the annual general meeting approving the annual accounts for the financial year ending on December 31, 2024.
The 2024 AGM resolved to pass an advisory vote on the remuneration report for the members of the Board of Directors for the financial year ended December 31, 2023.
This news release was distributed by Company News System, www.nasdaqomxnordic.com/news/marketnotices
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Alvotech SA is a biotechnology company. The Company is focused on the development and manufacture of biosimilar medicines for patients globally. It is engaged in developing a pipeline of monoclonal antibodies that target a variety of therapeutic areas including inflammatory diseases, oncology, and ophthalmology. The Companyâs pipeline contains eight biosimilar candidates aimed at treating autoimmune disorders, eye disorders, osteoporosis, respiratory disease, and cancer. Its products pipeline includes AVT02, AVT04, AVT23, AVT03, AVT05, AVT06, AVT16, and AVT33. Its AVT02 is a monoclonal antibody and a biosimilar to Humira (adalimumab). AVT04 is a monoclonal antibody and a biosimilar candidate to Stelara (ustekinumab). It has formed a network of strategic commercial partnerships to provide global reach and leverage expertise in markets that include the United States (U.S.), Europe, Japan, China, and other Asian countries and large parts of South America, Africa, and the Middle East.
ALVOTECH 
