DGAP-News: CO.DON AG / Key word(s): AGM/EGM
11.06.2018 / 10:13
The issuer is solely responsible for the content of this announcement.
CO.DON: successful Annual General Meeting 2018
Teltow/Berlin, 11.06.2018 – This year’s Annual General Meeting of CO.DON AG (ISIN DE000A1K0227) took place on 7 June 2018 in Berlin, chaired by the Supervisory Board Chairman Professor Hans Bauerfeind. Under the title: “CO.DON goes Europe”, Mr Ralf Jakobs, Executive Board of the company, first informed the shareholders and proxies present about the financial year 2017 and the company’s performance in the first months of the current financial year. “2017 was a solid year for our company overall – CO.DON AG continued on its growth path and successfully refined its business strategy. Operating business came exclusively from the German market, which also generated positive year-on-year growth. It was below expectations, however, partly because of uncertainties among customers about the reimbursement of non-EU-licensed products for advanced therapies.” Jakobs added: “The company’s primary strategic objective – EU approval of the pharmaceutical product for the regenerative treatment of articular cartilage defects – was achieved in July 2017. This represents a milestone and the foundation for the further development of CO.DON AG.” In his other comments he focused on presenting the current fundraising operation, emphasising the need for it in view of the strategic restructuring. Additional capital was necessary for the planned overall development of CO.DON AG, he said, and especially for the international expansion of its business and extensions to its product range. The general discussion that followed showed the great interest of those present in the opportunities presented.
The voting shareholders attending, who represented 42.66 % of the 19,460,812 million voting shares, approved all the proposals put forward by company management. The members of the Executive Board and Supervisory Board were discharged of liability for the financial year 2017. Frau Vilma Methner, a member of the Executive Board until mid-2016, was discharged of liability for 2016. Mazars GmbH & Co. KG Wirtschaftsprüfungs- und Steuerberatungsgesellschaft, Hamburg, was appointed as auditor for 2018. New elections were required, since Thommy Stählin’s period of office on the Supervisory Board ended at the close of the Annual General Meeting on 7 June 2018. Mr Stählin was elected to the Supervisory Board for another four years. The final item on the agenda was a resolution to amend the resolution by the General Meeting on 8 June 2017 authorising the Executive Board to issue convertible bonds and warrants, to increase Contingent Capital 2017 and to amend the articles of association accordingly.
CO.DON AG develops, produces and markets autologous cell therapies for the minimally-invasive repair of cartilage damage in the knee joint following traumatic or degenerative defects. Spherox is a cell therapy product that uses only the patient’s own cartilage cells (“autologous chondrocytes”). The treatment has been used in over 200 clinics to treat more than 12,000 patients. The company received EU marketing authorisation for Spherox in July 2017. The shares in CO.DON AG are listed on the Frankfurt Stock Exchange (ISIN: DE000A1K0227). Executive Board: Ralf M. Jakobs.
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