LUND, Sweden, April 20, 2020 /PRNewswire/ -- Alligator
Bioscience (Nasdaq Stockholm: ATORX), today announced that the
company's Nomination Committee, following an initiative from all
members of the Board of Directors, proposes that the fees to
board-members are reduced with 20 percent compared to the
Nomination Committee's original proposal to the Annual General
Meeting to be held on May 5.
"In the strenuous situation created by the Covid-19 pandemic,
cost reductions are important precautionary measures in all parts
of the business community. With Alligator now distinctly focusing
on its clinical portfolio, great efforts are being made to reduce
costs in other parts of the business, but also in general in the
company. In that context it is only natural that the board of
directors makes its contribution," said Peter Benson, Chairman of the board of Alligator
Bioscience.
After the adjustment, the Nomination Committee propose the
following for decision regarding remuneration for the board members
(item 11 on the agenda):
The board and its committees' remuneration shall be paid with
SEK 440,000 to the Chairman of the
board (SEK 550,000 previous year) and
with SEK 240,000 to each of the other
board members who are not employed by the company (SEK 300,000 previous year). Furthermore,
remuneration for committee work is proposed with SEK 100,000 to be paid to the Chairman of the
Audit Committee (SEK 125,000 previous
year), SEK 24,000 to each of the
other members of the Audit Committee (SEK
30,000 previous year) and SEK
20,000 to the Chairman of the Remuneration Committee
(SEK 25,000 previous year). For other
members of the Remuneration Committee, it is proposed that no
remuneration shall be paid going forward.
In order to make it easier for shareholders to exercise their
voting rights at the meeting, the board has decided to offer postal
voting at the annual general meeting on May
5. A form for postal voting and instructions on how postal
voting shall be performed are available on the company's website
www.alligatorbioscience.com. The ballot must reach the company no
later than April 28, 2020.
For further information, please contact:
Cecilia Hofvander, Director
Investor Relations & Communications
Phone +46-46-540-82-06
E-mail: cecilia.hofvander@alligatorbioscience.com
The information was submitted for publication, through the
agency of the contact persons set out above, at 1:00 p.m. CEST
on April 20, 2020.
About Alligator Bioscience
Alligator Bioscience AB is a clinical-stage biotechnology
company developing tumor-directed immuno-oncology antibody drugs.
Alligator's growing pipeline includes six lead clinical and
preclinical drug candidates: mitazalimab, ATOR-1015, ATOR-1017,
ALG.APV-527 (co-developed with Aptevo Therapeutics Inc.) and
AC101 (in clinical development by Shanghai Henlius Biotech Inc.).
Alligator's shares are listed on Nasdaq Stockholm (ATORX). The
Company is headquartered in Lund,
Sweden, and has approximately 55 employees. For more
information, please visit www.alligatorbioscience.com.
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Alligator
Bioscience's Board of Directors reduces its fees and offers
possibility for postal voting in front of the Annual General
Meeting
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