Communiqué from Extraordinary General Meeting
Communiqué from Extraordinary General Meeting
At the Extraordinary General Meeting on Friday January 30, 2009 shareholders in Oasmia Pharmaceutical AB (publ), organization no 556332-6676 adopted the proposal of the Board of Directors concerning guidelines for deciding salaries and other remunerations for the CEO and other senior managers. The guidelines refer to the time from the Annual General Meeting 2008 to the Annual General Meeting 2009.
Salaries and other benefits
Remuneration for the CEO and other senior managers shall be constituted by a fixed salary. In addition to fixed salaries no other benefits or pension payments shall be made.
Period of notice and severance pay
If notice is given from the company, the period of notice for the CEO shall be at most 24 months. If notice is given from the CEO the period of notice shall be at most six months. For other senior managers the period of notice shall be six months if notice is given from the company, and three months if notice is given from the manager. No special severance pay shall be paid out.
Incentive programs
Decisions of possible share and share price related incentive programs directed towards senior managers shall be made by the Annual General Meeting.
Remuneration committee
The Board of Directors has not established a remuneration committee. The Board itself considers that it can perform the tasks which otherwise would have been the duty of a remuneration committee. The principles for salary setting concerning the CEO and other senior managers shall be found in a policy established by the Board of Directors.
Deviation in a specific case
The Board of Directors has the right to deviate from these guidelines if there are special circumstances. If such circumstances exist, information about it and the reason for the deviation shall be disclosed to the next Annual General Meeting.
Uppsala, February 2, 2009
Oasmia Pharmaceutical AB (publ.)
The Board of Directors
About Oasmia
Oasmia Pharmaceutical AB develops second and third generation cancer drugs based on nanotechnology for human and veterinary use. The broad portfolio is focused on oncology and contains several promising products in clinical and pre-clinical phase. Oasmia cooperates with leading universities and other biotech companies to discover and optimize substances with a favourable safety profile and better efficacy. The company was founded in 1998 and is based in Uppsala, Sweden.
The press release is available in PDF-format here.
