Zealand Pharma A/S - Passing of Ordinary General Meeting

Zealand Pharma A/S 

25.04.2012 16:27

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The issuer is solely responsible for the content of this announcement.

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Copenhagen, 2012-04-25 16:27 CEST (GLOBE NEWSWIRE) -- Company Announcement

No. 13/2012

 -- Resolution to elect Michael J. Owen as new member to the Board of Directors
                    and to re-elect all other board members

 -- Board constitution: Jørgen Lindegaard as new Chairman, Daniël Jan Ellens as
                                new Vice Chairman



Copenhagen, 25 April 2012 - At Zealand Pharma A/S' Ordinary General Meeting
held earlier today, all proposals from the Board of Directors were adopted. 

The report by the Board of Directors and Executive Management was adopted and
the audited Annual Report for 2011 was approved. 



It was decided that the consolidated profit of DKK 13,377,089.95 is carried
forward to next year. 



All general meeting elected members of the Board of Directors were up for
election and were re-elected. Additionally, Michael J. Owen was elected as new
board member. 



Hence, the Board of Directors comprises:



  -- Jørgen Lindegaard
  -- Daniël Jan Ellens
  -- Peter Benson
  -- Alain Munoz
  -- Florian Reinaud
  -- Jutta af Rosenborg
  -- Michael J. Owen
  -- Christian Thorkildsen (employee representative)
  -- Helle Størum (employee representative)
  -- Hanne Heidenheim Bak (employee representative)



After the Ordinary General Meeting, the Board of Directors constituted itself
with Jørgen Lindegaard as new Chairman and Daniël Jan Ellens as new Vice
Chairman. Jutta af Rosenborg continues as Chairman of the Audit Committee and
Jørgen Lindegaard is new Chairman of the Remuneration Committee and the
Nomination Committee. 



PricewaterhouseCoopers, Statsautoriseret Revisionspartnerselskab, was
re-elected as the Company's auditor. 



The general meeting granted the Board of Directors an authorization until the
company's next ordinary general meeting to acquire the company's own shares for
up to 10 per cent of the company's share capital at any time, provided that the
acquisition, in accordance with the Danish Companies Act section 197, can be
financed by the funds that may be distributed as extraordinary dividends. The
payment may not divide with more than 10 per cent from the stock price at
NASDAQ OMX Copenhagen A/S at the time of purchase. 



The general meeting approved the remuneration policy proposed by the Board of
Directors as well as the new general guidelines for incentive remuneration to
the management. 



The fee to the Board of Directors for the financial year 2012 was approved.
Consequently, each board member will receive a fixed cash fee of DKK 150,000,
while the chairman will receive DKK 450,000 and the vice chairman DKK 300,000.
Further, the chairman of the Audit committee will receive DKK 300,000. 



                                      # # #



For further information, please contact:

David Horn Solomon, President and Chief Executive Officer

Tel: +45 22 20 63 00



Hanne Leth Hillman, Vice President for IR & Corporate Communication

Tel: +45 50 60 36 89, email: hlh@zealandpharma.com





About Zealand Pharma

Zealand Pharma A/S is a public (NASDAQ OMX: ZEAL) biotechnology company based
in Copenhagen, Denmark with a mature clinical pipeline of innovative peptide
drugs. The company's lead invention is lixisenatide (Lyxumia(R) 1)), a once-daily
GLP-1 agonist licensed to Sanofi for the treatment of Type 2 diabetes. In
October, Sanofi submitted a marketing authorization application (MAA) for
lixisenatide in Europe and submission for regulatory approval in the United
States is expected in Q4 2012. Zealand Pharma also has a collaboration with
Boehringer Ingelheim covering dual acting glucagon/GLP-1 agonists, including
ZP2929, for the treatment of diabetes and obesity, and a license agreement with
Helsinn Healthcare on elsiglutide, a clinical stage GLP-2 drug for the
prevention of chemotherapy-induced diarrhea. 

Zealand Pharma specializes in the discovery, optimization and development of
novel peptide drugs, and all drug candidates in its pipeline have been
identified through the company's own drug discovery activities. Zealand
Pharma's products target disease areas where existing treatments fail to
adequately serve patient needs and where the market potential for improved
treatments through the use of peptide drugs is high. For further information:
www.zealandpharma.com. 

Note 1) Lyxumia(R) is the intended trademark for lixisenatide. Lixisenatide is
not currently approved or licensed anywhere in the world.
News Source: NASDAQ OMX



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Language:     English
Company:      Zealand Pharma A/S
              
               
              Denmark
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         DK0060257814
WKN:          
 
End of Announcement                             DGAP News-Service
 
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