Moscow, September 27, 2013– Pharmstandard OJSC (LSE: PHST LI, RTS: PHST RU) (the “Company” or “Pharmstandard” announces the results of its extraordinary general meeting of shareholders (“EGM”) held on September 27, 2013.
On September 27, 2013 Pharmstandard held an EGM to decide on the reorganization of the Company by spin-off of a new public joint-stock company (“Reorganization”) and to elect the Board of Directors of the company formed in the result of spin-off.
Taken together, the attending shareholders who took part in the EGM through a collective meeting with attendance by the shareholders to discuss the agenda issues and to make a resolution on the issues put to vote, owned 33 366 951 votes or 88.2896% of the Company’s voting shares.
The result of the voting on the Reorganization is as follows: 31 665 581 votes (or 94.9010% of the shares owned by the voters) in favor, 857 641 votes (or 2.5703% of the shares owned by the voters) against, 843 711votes (or 2.5286% of the shares owned by the voters) abstained, 17 votes were invalid, 2 of quorum did not vote.
4 425 652 (11.7104 %) of the voting shares failed to vote.
As a result of the EGM, the Reorganization was approved and the Board of Directors was elected.
The full name of the newly created company was defined as Public Joint Stock Company “OTCPharm” (“PJSC “OTCPharm””). The Authorized capital of the PJSC “OTCPharm” shall be 15 117 041.20 rubles and shall consist of 151 170 412 ordinary registered shares with par value of 10 kopecks each. Mednikova Olga, Deputy General Director for marketing and promotion of JSC “Pharmstandard”, was appointed General Director of PJSC “OTCPharm”.
The following persons were elected as members of the Board of Directors of PJSC “OTCPharm”:
- Ageeev Sergey - Manager of the department for marketing of over-the-counter gynecological medicines of JSC “Pharmstandard”
- Bakhturina Irina - Head of Investor Relations of JSC “Pharmstandard”
- Kalinina Svetlana – Independent Director
- Mednikova Olga– Deputy General Director for marketing and promotion of JSC “Pharmstandard”
- Reshetnikov Stanislav – Manager of the Department for marketing of over-the-counter therapeutic and preventive medicines of JSC “Pharmstandard”
“The Management of Pharmstandard would like to thank all of the shareholder who took part in the EGM and voted – the quorum is quite significant 88.29%. We also greatly appreciate and value the fact that our active minorities have supported the decision and this strategic initiative overall. As always, we will do our best to justify your trust”, the CEO of Pharmstandard, Igor Krylov commented earlier.
All additional information is available on our website in section “Reorganisation” (http://pharmstd.com/page_51.html) and in section “Disclosure” (http://pharmstd.ru/page_39.html).
Head of Investor Relations
+7 495 970 00 30 ext.2824