Valby, Denmark, 23 March 2021 - H. Lundbeck A/S (Lundbeck) announced today that the report by the Board of Directors was adopted and the annual report and the remuneration report was approved at the annual general meeting.
The proposal to distribute a dividend of 31% of the net profit for the accounting year 2020, corresponding to DKK 2.5 per share, or a total dividend of DKK 498 million, was adopted.
The proposal from the Board of Directors to increase the maximum number of board members elected to the Board of Directors by the general meeting to eight members and thereby amend article 5.1 of the Articles of Association, was adopted.
Lars Søren Rasmussen, Lene Skole-Sørensen, Lars Erik Holmqvist, Jeremy Max Levin and Jeffrey Berkowitz were re-elected to the Board of Directors and Santiago Arroyo and Dorethea Wenzel were elected as new members of the Board of Directors. Immediately after the general meeting, the Board of Directors elected Lars Søren Rasmussen as Chairman and Lene Skole-Sørensen as Deputy Chairman of the Board of Directors.
The Board of Directors of Lundbeck will hereafter comprise:
- Lars Søren Rasmussen (Chairman)
- Lene Skole-Sørensen (Deputy Chairman)
- Lars Erik Holmqvist
- Jeremy Max Levin
- Jeffrey Berkowitz
- Santiago Arroyo
- Dorothea Wenzel
- Ludovic Tranholm Otterbein (employee representative)
- Henrik Sindal Jensen (employee representative)
- Rikke Kruse Andreasen (employee representative)
After having elected its Chairman and Deputy Chairman, the Board of Directors appointed members for the Audit Committee, the Remuneration and Nomination Committee and the Scientific Committee.
Dorothea Wenzel (chairman), Lars Søren Rasmussen and Lars Erik Holmqvist were elected as members of the Audit Committee. Lars Søren Rasmussen (chairman), Lene Skole-Sørensen and Jeffrey Berkowitz were elected as members of the Remuneration and Nomination Committee. Jeremy Max Levin (chairman), Lene Skole-Sørensen, Jeffrey Berkowitz and Santiago Arroyo were elected as members of the Scientific Committee.
The general meeting approved the remuneration for the Board of Directors for the year 2021.
PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab was elected as the company's auditor.
The proposal to give the Board of Directors authorization until the next annual general meeting to let the company acquire treasury shares of a total nominal value of up to 10% of the share capital was adopted. The purchase price for the relevant shares may not deviate by more than 10% from the price quoted on NASDAQ Copenhagen A/S at the time of the acquisition.
The proposal from the Board of Directors to adopt the Remuneration Policy for the Board of Directors and Executive Management was adopted.
The proposal from the Board of Directors to authorize the Board of Directors to assemble future general meetings to be held as completely electronic and thereby to include a new Article 7.5 to the Articles of Association was adopted.
The proposal from the Board of Directors to (a) adopt English as the corporate language of the group, (b) authorize the Board of Directors to decide whether future general meetings will be conducted in Danish or English, (c) prepare the documents to be used by or in connection with the general meeting in English and, if so decided by the Board of Directors, in Danish, and (d) issue company announcements in English and, if so decided by the Board of Directors, in Danish, and thereby adopting new Articles 1.2, 7.6, 7.7 and 17 was adopted.
The Chairman of the general meeting was authorized to file for registration of the resolutions passed at the general meeting with the Danish Business Authority.
No other business was on the agenda at the annual general meeting.
The Board of Directors
|Palle Holm Olesen||Juliane Lenzner|
|Vice President, Investor Relations||Vice President, Corporate Communication|
|+45 30 83 24 26||+45 36 43 40 00|
About H. Lundbeck A/S
H. Lundbeck A/S (LUN.CO, LUN DC, HLUYY) is a global pharmaceutical company specialized in brain diseases. For more than 70 years, we have been at the forefront of neuroscience research. We are tirelessly dedicated to restoring brain health, so every person can be their best.
Millions of people worldwide live with brain diseases, and far too many suffer due to inadequate treatment, discrimination, a reduced number of working days, early retirement, and other unnecessary consequences.
Our approximately 5,800 employees in more than 50 countries are engaged in the entire value chain throughout research, development, production, marketing, and sales. Our pipeline consists of several R&D programs, and our products are available in more than 100 countries. We have research centers in Denmark and the US, and our production facilities are located in Denmark, France, and Italy. Lundbeck generated revenue of DKK 17.7 billion in 2020 (EUR 2.4 billion; USD 2.7 billion).
For additional information, we encourage you to visit our corporate site www.lundbeck.com, and connect with us on Twitter at @Lundbeck and via LinkedIn.
Safe Harbor/Forward-Looking Statements
This corporate release contains forward-looking statements that provide our expectations or forecasts of future events such as new product introductions, product approvals and financial performance. Forward looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words like "believe", "anticipate", "expect", "estimate", "intend", "plan", "project", "will be", "will continue", "will result", "could", "may", "might", or any variations of such words or other words with similar meanings. All statements other than statements of historical facts included in this presentation, including, without limitation, those regarding our financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to our products), are forward looking statements.
Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. Factors that may affect future results include, among others, interest rate and currency exchange rate fluctuations, delay or failure of development projects, production or distribution problems, unexpected contract breaches or terminations, government-mandated or market-driven price decreases for Lundbeck's products, introduction of competing products, Lundbeck's ability to successfully market both new and existing products, exposure to product liability and other lawsuits, changes in reimbursement rules and governmental laws and related interpretation thereof, and unexpected growth in costs and expenses.
The forward-looking statements in this document and oral presentations made on behalf of Lundbeck speak only as at the date of this presentation. Lundbeck does not undertake any obligation to update or revise forward-looking statements in this presentation or oral presentations made on behalf of Lundbeck, nor to confirm such statements to reflect subsequent events or circumstances after the date of the presentation or in relation to actual results, unless otherwise required by applicable law or applicable stock exchange regulations.
H. Lundbeck A/S
Ottiliavej 9, 2500 Valby, Denmark
+45 3630 1311