Medigene AG / Medigene Reports Outcome of Annual General Meeting . Ad hoc announcement according to § 15 WpHG. Processed and transmitted by Thomson Reuters ONE. The issuer is solely responsible for the content of this announcement.

  • Shareholders approve all resolutions with a high majority
  • Reduction of share capital by consolidation of shares at a ratio of 4:1 approved
  • New Supervisory Board elected

Martinsried/Munich, 17 July 2013. Medigene AG (MDG, Frankfurt, Prime Standard) announces the results of the Annual General Meeting held yesterday. By a majority of 93%, the shareholders of Medigene AG decided to reduce the company's share capital by consolidation of shares at a ratio of 4:1. This will enhance the transaction capacity of Medigene. Moreover, the shareholders voted for a reduction of the Supervisory Board from six to three members by a majority of 97%, and elected Prof. Horst Domdey, Dave Lemus, and Dr. Yita Lee to the Supervisory board by a majority of approximately 90% each. The members of Medigene's Executive and Supervisory Board were discharged for the fiscal year 2012 by a majority of 96% and 97%, respectively.

Dr. Frank Mathias, Chief Executive Officer of Medigene AG, comments: "On behalf of the Executive Board, I thank the shareholders of Medigene AG for their confidence and also the Supervisory Board members resigning from office for many years of valuable cooperation. We are pleased that a top-class international Supervisory Board with Prof. Horst Domdey, Dave Lemus, and Dr. Yita Lee will stand at our side. Medigene will benefit from their outstanding expertise and many years of experience."

Peter Llewellyn-Davies, Chief Financial Officer of Medigene AG, comments: "The approved measures, in particular the reduction of share capital, will enhance Medigene's scope of action and support our company strategy which we are currently implementing, one step at a time."

As described in the invitation to the annual general meeting on 5 June 2013, Medigene's share capital will be reduced by EUR 29,616,417.00 to EUR 9,872,139.00 by consolidation of the issued no-par value shares in a ratio of 4:1 from 39,488,556 to 9,872,139 shares, pursuant to §§ 222 ff. of the German Stock Corporation Act. This measure does not affect the value of the company. Being an accounting measure, the reduction will result in a transfer from subscribed capital to capital reserves on the shareholders' equity side of the balance sheet of Medigene AG. Thereby the price of the shares shall be significantly increased above the nominal value of one Euro therefore increasing the transaction capacity of Medigene AG in respect of the minimum issue price according to § 9, par. 1 of the German Stock Corporation Act. However, no specific measures are currently planned.  

Prof. Dr. Domdey is a co-founder of Medigene AG and managing director of BioM Biotech Cluster Development GmbH, Martinsried, Germany. Mr. Lemus is Chief Executive Officer of Sigma-Tau Pharmaceuticals Inc., Gaithersburg, USA and previously served as Chief Financial Officer of Morphosys AG, Martinsried, Germany. Dr. Lee is Chief Scientific Officer of the Sinphar Group, Taipei, Taiwan.

Further information on the annual general meeting of Medigene AG is accessible at the company website at http://www.medigene.com/annual-general-meeting/2013.

Medigene AG (Frankfurt: MDG, Prime Standard) is a publicly listed biotech company headquartered in Martinsried/Munich, Germany. Medigene focuses on clinical research and development of novel drugs against cancer and autoimmune diseases. Medigene is the first German biotech company to generate revenues from a marketed product (Veregen®), which is distributed by partner companies. Medigene also has two drug candidates undergoing clinical trials, EndoTAG®-1 und RhuDex®, and is developing an innovative vaccine technology. For further details, please visit www.medigene.com

This press release contains forward-looking statements representing the opinion of Medigene as of the date of this release. The actual results achieved by Medigene may differ significantly from the forward-looking statements made herein. Medigene is not bound to update any of these forward-looking statements. Medigene®, EndoTAG®, RhuDex® and Veregen® are registered trademarks of Medigene AG. Polyphenon E® is a trademark of Mitsui Norin Co., Ltd. These trademarks may be owned or licensed in select locations only.

Contact
Julia Hofmann, Claudia Burmester
Investor & Public Relations
Tel.: +49 - 89 - 20 00 33 - 33 01
Email: investor@medigene.com

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Source: Medigene AG via Thomson Reuters ONE
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