AGM Information • Dec 12, 2011
AGM Information
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ZEALAND PHARMA A/S ZEALAND PHARMA A/S
ZEALAND PHARMA A/S (CVR-nr.: 20 04 50 78)
ZEALAND PHARMA A/S (CVR no.: 20 04 50 78)
2.1 Selskabets formål er at drive forskning, produktion, handel og dermed beslægtet virksomhed, primært inden for medicinalbranchen.
3.1 Selskabets koncernsprog er engelsk.
Name
The Company's name is Zealand Pharma A/S.
The Company's secondary name is Zealand Pharmaceuticals A/S.
The object of the Company is to engage in research, manufacture, trade and related activities, primarily within the pharmaceutical industry.
The corporate language of the Company is English.
The share capital of the Company is DKK 23,193,047.
4.2 Aktiekapitalen er fuldt indbetalt. The share capital has been paid up in full.
6.1 Udbytte betales til aktionærerne ved overførsel gennem VP Securities A/S.
5.3 Aktierne er omsætningspapirer. The shares are negotiable instruments.
No restrictions shall apply as to the transferability of the shares.
The shares shall be issued in the holder's name and shall be registered in the Company's Register of Shareholders.
The Register of Shareholders is handled by Computershare A/S, Kongevejen 418, 2840 Holte, on behalf of the Company.
Dividend shall be paid out to shareholders by transfer through VP Securities A/S.
6.2 Udbytte, der ikke har været hævet inden tre år fra forfaldsdagen, tilfalder Selskabet.
Dividend that has not been claimed within three years of the due date shall accrue to the Company.
During the period until 2 November 2015 the board of directors is authorized to increase at one or more times the Company's share capital by issuance of new shares by up to nominally DKK 15,500,000. On board meeting held 3 November 2010 the board of directors adopted a resolution to issue nominally DKK 4,336,047 shares under the authorization. The remaining authorization is nominally DKK 11,163,953.
The capital increase may be made in cash, by contribution in kind or by debt conversion.
The capital increase shall be effected at market price unless the capital increase is made in connection with a right issue in which all shareholders in the Company can participate, in which case the subscription price may be a favourable price fixed by the board of directors of the Company. If the capital increase is effected at market price, the capital increase may be without pre-emption right for existing shareholders.
8.1 Bestyrelsen er i perioden indtil den 2. november 2015 bemyndiget til ad en eller flere gange at udstede warrants med ret til at tegne op til nominelt DKK 2.750.000 aktier i Selskabet. Selskabets aktionærer skal ikke have fortegningsret ved bestyrelsens udnyttelse af denne bemyndigelse. De nærmere vilkår fastsættes af bestyrelsen. Bestyrelsen fastsætter selv udnyttelseskursen samt øvrige vilkår for warrants, dog således at udnyttelseskursen som minimum skal svare til markedskursen på tidspunktet for udstedelsen af warrants, medmindre disse udstedes til
The new shares shall have the same rights as the existing shares of the Company. The new shares shall be negotiable instruments and issued in the holder's name and shall be registered in the Company's Register of Shareholders. No shareholder shall be obliged to have the shares redeemed fully or partly. The new shares shall give rights to dividends and other rights in the Company from the time which is determined by the board of directors in connection with the decision to increase the share capital.
The board of directors is authorized to adopt amendments to the Articles of Association as a consequence of the capital increase.
During the period until 2 November 2015 the board of directors is authorized to issue at one or more times warrants with a right to subscribe for shares up to an aggregate amount of nominally DKK 2,750,000 shares in the Company. The shareholders of the Company will not have pre-emptive subscription rights when the board of directors exercises this authorization. The specific terms and conditions in this respect are to be determined by the board of directors. The board of directors determines, at its own discretion, the exercise price as well as other
Bestyrelsen kan efter de til enhver tid gældende regler i selskabsloven genanvende eller genudstede eventuelle bortfaldne ikke udnyttede warrants, forudsat at genanvendelsen eller genudstedelsen finder sted inden for de vilkår og tidsmæssige begrænsninger, der fremgår af denne bemyndigelse. Ved genanvendelse forstås adgangen for bestyrelsen til at lade en anden aftalepart indtræde i en allerede bestående aftale om warrants. Ved genudstedelse forstås bestyrelsens mulighed for inden for samme bemyndigelse at genudstede nye warrants, hvis allerede udstedte warrants er bortfaldet.
Bestyrelsen er i perioden indtil den 2. november 2015 endvidere bemyndiget til ad en eller flere gange at forhøje Selskabets aktiekapital med op til nominelt DKK 2.750.000 aktier ved kontant indbetaling i forbindelse med udnyttelse af warrants eller et sådant beløb som måtte følge af en eventuel regulering af antallet af warrants ved ændringer i Selskabets kapitalforhold. Selskabets aktionærer skal ikke have fortegningsret til aktier som udstedes ved udnyttelse af udstedte warrants.
Selskabets medarbejdere. terms and conditions for the warrants, always provided that the exercise price as a minimum corresponds to the market price at the time of issuance of the warrants, unless these are issued to the Company's employees.
Pursuant to the provisions of the Danish Companies Act in force from time to time, the board of directors may reapply or reissue any lapsed non-exercised warrants, provided that such reapplication or reissue is made under the terms and conditions and within the time limits specified under this authority. Reapplication means the right of the board of directors to let another contractual party become a party to an already existing agreement on warrants. Re-issue means the possibility for the board of directors to re-issue new warrants under the same authorization if those already issued have lapsed.
During the period until 2 November 2015, the board of directors is also authorized to increase at one or more times the Company's share capital by up to nominally DKK 2,750,000 shares by cash payment in connection with the exercise of the warrants or such an amount caused by an adjustment (if any) in the number of warrants due to changes in the capital structure, without pre-emptive subscription rights for the shareholders of the Company to shares issued by exercise of the issued warrants.
På et bestyrelsesmøde i Selskabet afholdt den 2. november 2010 vedtog Selskabets bestyrelse at udstede warrants (2010 employee incentive program) svarende til nominelt DKK 595.406 aktier; og bestyrelsen vedtog samtidig at forhøje Selskabets aktiekapital i overensstemmelse dermed. De fuldstændige vilkår for warrantene er vedlagt som bilag 8.1. Bilag 8.1 udgør en integreret del af nærværende vedtægter.
På et bestyrelsesmøde i Selskabet afholdt den 10. februar 2011 vedtog Selskabets bestyrelse at udstede warrants (2011 employee incentive program) svarende til nominelt DKK 445.500 aktier; og bestyrelsen vedtog samtidig at forhøje Selskabets aktiekapital i overensstemmelse dermed. De fuldstændige vilkår for warrantene er vedlagt som bilag 8.1.a. Bilag 8.1.a udgør en integreret del af nærværende vedtægter.
På et bestyrelsesmøde i Selskabet afholdt den 17. november 2011 vedtog Selskabets bestyrelse at udstede warrants (November 2011 employee incentive program) svarende til nominelt DKK 227.085 aktier; og bestyrelsen vedtog samtidig at forhøje Selskabets At a meeting of the board of directors of the Company held on 2 November 2010, the board of directors of the Company resolved to issue warrants (2010 employee incentive program) corresponding to a nominal amount of DKK 595,406 shares; and the board of directors at the same time resolved to increase the share capital of the Company in accordance therewith. The complete terms of the warrants are attached as Schedule 8.1. Schedule 8.1 constitutes an integrated part of these Articles of Association.
At a meeting of the board of directors of the Company held on 10 February 2011, the board of directors of the Company resolved to issue warrants (2011 employee incentive program) corresponding to a nominal amount of DKK 445,500 shares; and the board of directors at the same time resolved to increase the share capital of the Company in accordance therewith. The complete terms of the warrants are attached as Schedule 8.1.a. Schedule 8.1.a constitutes an integrated part of these Articles of Association.
At a meeting of the board of directors of the Company held on 17 November 2011, the board of directors of the Company resolved to issue warrants (November 2011 employee incentive program) corresponding to a nominal amount of DKK 227,085 shares; and
aktiekapital i overensstemmelse dermed. De fuldstændige vilkår for warrantene er vedlagt som bilag 8.1.b. Bilag 8.1.b udgør en integreret del af nærværende vedtægter
Som følge af udstedelsen af warrants er det udestående antal warrants, der kan udstedes i henhold til bemyndigelsen i nærværende § 8.1, reduceret til 1.482.009 warrants.
the board of directors at the same time resolved to increase the share capital of the Company in accordance therewith. The complete terms of the warrants are attached as Schedule 8.1.a. Schedule 8.1.b constitutes an integrated part of these Articles of Association
As a result of the issuance of warrants, the number of warrants available for issuance under the authorization in this article 8.1 has been reduced to 1,482,009 warrants.
8.2 Alle aktier, der ved udnyttelse af warrants udstedt i henhold til § 8.1 skal være omsætningspapirer og navneaktier og noteres i Selskabets ejerbog.
De nye aktier skal være ligestillet med den bestående aktiekapital. Ingen aktionær skal være forpligtet til at lade sine aktier indløse helt eller delvist. De nye aktier skal give ret til udbytte og andre rettigheder i Selskabet fra det tidspunkt, som fastsættes af bestyrelsen i forhøjelsesbeslutningen.
8.3 Bestyrelsen er bemyndiget til at ændre nærværende vedtægter i tilfælde af udnyttelse af de givne bemyndigelser The shares subscribed for by exercise of the warrants issued pursuant to article 8.1 shall be negotiable instruments and issued in the holder's name and shall be registered in the Company's Register of Shareholders.
The new shares shall have the same rights as the existing shares of the Company. No shareholder shall be obliged to have the shares redeemed fully or partly. The new shares shall give rights to dividends and other rights in the Company from the time which is determined by the board of directors in connection with the decision to increase the share capital.
The board of directors is authorized to amend these Articles of Association as a consequence of applying the authori-
9.5 Ekstraordinær generalforsamling afhol- An extraordinary general meeting shall
eller warrants. zations granted or the exercise of warrants.
General meetings of the Company shall be held in Greater Copenhagen.
Annual general meetings shall be held early enough for the audited and adopted annual report to be submitted to and received by the Danish Commerce and Company Agency not later than four months after the closing of the financial year.
Not later than eight weeks before the date set for the annual general meeting the board of directors shall announce the date on which it intends to hold the general meeting as well as the date by which requests filed by shareholders wishing to have specific items included on the agenda, cf. article 9.4.
Proposals from shareholders for consideration by the annual general meeting shall be submitted to the board of directors in writing not later than six weeks before the date of the general meeting. In the event that the board of directors receives a proposal later than six weeks before the general meeting, the board of directors shall decide whether it was received in time for it to be included on the agenda nonetheless.
des efter en generalforsamlings beslutning, bestyrelsens beslutning, når det kræves af Selskabets revisor, eller når det til behandling af et bestemt emne skriftligt kræves af aktionærer, der ejer mindst 5 % af aktiekapitalen.
be held when decided by a general meeting, the board of directors or requested by the Company's auditor as well as when requested in writing by shareholders holding at least 5 % of the share capital for consideration of a specific issue.
General meetings shall be convened with a maximum notice of five weeks and a minimum notice of three weeks. An extraordinary general meeting shall be convened within 14 days after a proper request has been received by the board of directors.
The board of directors shall convene general meetings by publication in the computer information system of the Danish Commerce and Companies Agency and by posting on the Company's website (www.zealandpharma.com).
The length of the notice shall be reckoned from the first advertisement. General meetings shall moreover be convened by sending a notice to all shareholders entered in the Company's Register of Shareholders having so requested, to the address, including the e-mail address, cf. article 12, informed to the Company. If the information contained in the Register of Shareholders is insufficient or incorrect, the board of directors shall not be obliged to rectify the information or to give notice in any other way.
9.9 Indkaldelsen skal som minimum indeholde:
The notice shall as a minimum include:
ved fuldmagt, brev og ved elektronisk stemmeafgivelse, herunder at der vil blive stillet en fuldmagtsblanket til rådighed for enhver stemmeberettiget aktionær.
by postal and by electronic means, and the Company will make a proxy form available for the shareholders that are entitled to vote.
(6) If the general meeting is conducted by electronic means or partly by electronic means, cf. article 11.1 this shall be stated in the convening notice together with the details on how to sign up and what the requirements are to the electronic systems that will be used. The convening notice shall point out that detailed information about the procedure will be available on the Company's website.
The general meeting is held in English without simultaneous translation to Danish.
Not later than three weeks prior to a general meeting the following information, as minimum, shall be available on the Company's website:
forsamlings vedkommende den reviderede årsrapport.
(4) Valg af medlemmer til bestyrelsen.
(6) Bemyndigelse til erhvervelse af egne aktier.
general meeting the audited annual report.
The agenda of the annual meeting shall include:
(8) Eventuelt. (8) Any other business.
9.13 Forhandlingerne på generalforsamlingen ledes af en dirigent, der udpeges af bestyrelsen. Dirigenten afgør alle spørgsmål vedrørende emnernes behandling, stemmeafgivning og stemmeresultaterne.
A chairman of the meeting appointed by the board of directors shall preside over the proceedings at general meetings and decide upon all questions of procedure, voting and voting results.
The proceedings at a general meeting shall be recorded in a minute book and be signed by the chairman of the general meeting and the chairman of the board of directors. Not later than two weeks after the general meeting the minute book, or a certified transcript of the minute book, shall be made available to the Company's shareholders.
As a general rule, for each resolution made at the general meeting the minute book of the general meeting must set out at a minimum the full details of the voting including information on (i) the total number of shares for which valid votes were cast, (ii) the proportion of the share capital accounted for by these votes, (iii) the total number of valid votes, (iv) the number of votes cast in favour of and against each resolution, and (v) the total number of abstentions, if any.
If no shareholder requests that the full details of the votes be included in the minute book, the minute book need only to state the results of the individual votes. Accordingly, the Chairman of the general meeting shall have to clar-
hver generalforsamlingsbeslutning have afklaret hvorvidt, ingen af aktionærerne ønsker en fuldstændig redegørelse for afstemningen.
9.17 Senest to uger efter generalforsamlingens afholdelse skal afstemningsresultatet offentliggøres på Selskabets hjemmeside.
ify for each individual vote whether or not any shareholders request the inclusion in the minute book of the full details of the vote.
Not later than two weeks after the general meeting the voting results from the general meeting shall be posted on the Company's website.
A shareholders right to attend general meetings and to vote at general meetings is determined on the basis of the shares that the shareholder owns on the registration date.
The registration date is one week before the general meeting is held. The shares which the individual shareholder owns are calculated on the registration date on the basis of the registration of ownership in the Company's Register of Shareholders as well as notifications concerning ownership which the Company has received with a view to update the ownership in the Register of Shareholders.
Any shareholder who has notified the Company of his participation not later than three days prior to the general meeting and who has received an admission card shall be entitled to attend the general meeting, either in person or by proxy. Admission card will be is-
11.1 Bestyrelsen kan, når den anser det for hensigtsmæssigt og generalforsamlingen kan afvikles på betryggende vis, bestemme at generalforsamlingen udelukkende skal foregå elektronisk (fuldstændig elektronisk generalforsamling). Bestyrelsen kan herudover under samme forudsætninger vælge at tilbyde aktionærerne at deltage elektronisk på generalforsamlinger, der i øvrigt gen-
Selskabets ejerbog noterede aktionær. sued to the holder registered in the Company's Register of Shareholders.
Each share of DKK 1 has one vote at general meetings.
A shareholder may vote by proxy or by postal, and the Company shall not later than three weeks prior to the general meeting make a form for this use available on the Company's website. A vote by postal must be received by the Company not later than three days prior to the general meeting is held in order to be counted at the general meeting.
The shareholder or the proxyholder may attend the general meeting accompanied by an advisor.
At general meetings resolutions shall be decided by simple majority of votes unless otherwise prescribed by law or the Articles of Association.
When the board of directors finds it appropriate and technically safe it may decide that the general meeting solely shall be held as an electronic general meeting (completely electronic general meeting). The board of directors may also as an alternative under the same circumstances invite shareholders to attend by electronic means general meetings that are also attended by
nemføres ved fysisk fremmøde (delvis elektronisk generalforsamling). Aktionærerne kan derved elektronisk deltage i, ytre sig samt stemme på generalforsamlingen. Nærmere oplysninger vil til sin tid kunne findes på Selskabets hjemmeside og i indkaldelsen til de pågældende generalforsamlinger, ligesom de i Selskabets ejerbog noterede aktionærer vil modtage skriftlig meddelelse herom.
shareholders in person (partially electronic general meeting). In this way, shareholders will be able to attend, express their opinion and vote at the general meeting by electronic means. In due course more information will be made available on the Company's website and in the notices convening the general meetings involved, and written information on the subject will also be sent to shareholders listed in the Company's Register of Shareholders.
The board of directors has been granted authority to introduce electronic communication between the Company and its shareholders, meaning that the Company may use electronic document exchange and electronic mail as specified below in its communication with the shareholders.
The Company shall be able to send notices convening annual and extraordinary general meetings including the complete proposals for amendments to the articles of association, agenda, annual report, interim report, quarterly report, stock exchange releases, minutes and general meetings, proxy forms, mail-in voting forms, admission cards and other general information from the Company to it shareholders by means of email.
12.3 Ovennævnte dokumenter, bortset fra The above documents, to the exclusion
adgangskort til generalforsamlingen, vil tillige blive offentliggjort på Selskabets hjemmeside. På Selskabets hjemmeside vil der tillige kunne findes oplysning om kravene til de anvendte systemer samt om fremgangsmåden i forbindelse med elektronisk kommunikation.
of admission cards for the general meeting, shall also be posted on the Company's website. The Company's website shall also contain information about requirements to the systems used and the procedures applying to the use of electronic communication.
The Company must request registered shareholders for an electronic address to which notices can be sent, and it is the responsibility of each shareholder to ensure that the Company is in possession of a proper electronic address.
Once the board of directors utilizes the authority to introduce electronic communication, the Company shall notify shareholders listed in the company's register of shareholders thereof by letter.
The general meeting shall elect at least four and not more than seven directors.
The directors elected by the general meeting shall retire from office at each annual general meeting but shall be eligible for re-election.
No person being elected to the board of directors shall have reached the age of 70 years. A board member shall retire
ordinære generalforsamling, efter bestyrelsesmedlemmet er fyldt 70 år.
at the end of the first annual general meeting held after the relevant board member having reached the age of 70 years.
The board of directors elects the chairman of the board of directors.
Unless otherwise decided by the board of directors, decisions of the board of directors shall be decided by simple majority of votes. The chairman shall have a casting vote if equality of votes occurs.
The board of directors shall lay down rules of its proceedings.
The directors shall be remunerated annually as prescribed in the annual report for the relevant year.
The board of directors may authorize one person alone or more persons jointly to sign for the Company by procuration.
14.1 Bestyrelsen ansætter en direktion bestående af mellem en og fire direktører. Hvis direktionen består af flere direktører, skal én af disse udnævnes til administrerende direktør.
Management Board
The board of directors shall employ at least one but not more than four managers to comprise the Company's management board. Where more than one manager is employed, one of them shall be appointed managing director.
15.1 Selskabet har udarbejdet overordnede retningslinjer for incitamentsaflønning af bestyrelsen og direktionen. Disse retningslinjer er forelagt og vedtaget af Selskabets generalforsamling. Retningslinjerne er offentligt tilgængelige på Selskabets hjemmeside.
16.1 Selskabet tegnes af bestyrelsens formand i forening med den administrerende direktør, eller af bestyrelsens formand i forening med et bestyrelsesmedlem, eller af en direktør i forening med to bestyrelsesmedlemmer, eller af den administrerende direktør i forening med en direktør eller af den samlede bestyrelse.
The Company has prepared a set of general guidelines for incentive pay to the board of directors and the management board. These guidelines have been presented to and adopted by the Company in general meeting. The guidelines are publicly available on the Company's website.
The Company shall be bound by the joint signatures of the chairman of the board of directors with the managing director; or the chairman of the board of directors jointly with one member of the board of directors; or one member of the board of managers jointly with two members of the board of directors; or the joint signatures of the managing director and one member of the board of managers; or all members of the board of directors jointly.
The Company's annual report shall be audited by a state-authorized public accountant.
The auditor shall be elected by the annual general meeting for one year at a time.
18.1 Selskabets regnskabsår er kalenderåret.
The financial year of the Company is the calendar year.
Schedule 8.1: Warrants (2010 employee incentive program), cf. article 8.1 of the Articles of Association.
Schedule 8.1a: Warrants (February 2011 employee incentive program), cf. article 8.1 of the Articles of Association.
Schedule 8.1b: Warrants (November 2011 employee incentive program), cf. article 8.1 of the Articles of Association.
Vedtaget på Selskabets generalforsamling den 2. november 2010 og ændret ved bestyrelsesmøder den 9. december 2010 og den 10. februar 2011 og den 24. februar 2011 og den 17. november 2011 og den 12. december 2011.
Approved at the Company's General Meeting held on 2 November 2010 and amended on board meetings dated 9 December 2010 and 10 february 2011 and 24 February 2011 and 17 November 2011 and 12 December 2011.
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