GENEART Shareholders' Meeting Onboard for Continued Growth
- Shareholders fully approve the growth strategy pursued by the Board of Directors - Resolutions in favor of a capital increase out of capital reserves - Annual prognosis for 2007 supported by current business developments
Regensburg, July 24, 2007. Today at the GENEART AG Shareholders' Meeting in Regensburg, the shareholders adopted all agenda items by a large majority and expressed broad approval for the company's sustained growth strategy. The Board of Directors and the Supervisory Board had also proposed a capital increase using company funds. The Shareholders' Meeting adopted this proposal by resolution. The measure is similar to a stock split. GENEART will implement this resolution after registering it with the commercial registry. In all likelihood, this will be in the beginning of September 2007.
The Shareholders' Meeting also decided to grant formal approval for the actions of the Board of Directors and the Supervisory Board, to adapt the bylaws and to select the annual auditor for the business year 2007. The shareholders further confirmed the current Supervisory Board for five more years and set up new remuneration rules for the members of the controlling body.
In a presentation and later in a general debate with the shareholders, the GENEART AG Board of Directors expressed satisfaction with the business development in recent months and projected further strong growth in 2007. With yearly turnover growth rates of more than 70% since 2000 and a growing staff of now more than 120 coworkers the world market leader in the field of gene synthesis and specialist in the synthetic biology has emerged as one of the few profitable German biotechnology enterprises. The GENEART AG will publish its financial data for the first 6 months and the 2nd Quarter 2007 on August 9, 2007.
For further inquiries, please contact:
Bernd Merkl Frank Ostermair GENEART AG Haubrok Investor Relations GmbH Josef-Engert-Str. 11 Maximilianstraße 45 D-93053 Regensburg 80538 München Germany Germany Tel.: +49-(0)941-942 76 - 638 Tel: 089-21027-204 Fax: +49-(0)941-942 76 - 711 Fax: 089-21027-298 firstname.lastname@example.org email@example.com www.geneart.com
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Background information: About GENEART AG
GENEART was founded in 1999. Today, the company ranks as the leading global specialist in gene synthesis for research institutions, the pharmaceutical industry and for enterprises in biotechnology and chemistry. GENEART offers integrated product systems based on gene synthesis for the development of innovative drugs, in particular for DNA- and protein-based therapeutics and vaccines, and for the identification of improved industrial enzymes. Service offerings range from synthesizing artificial genes according to DIN EN ISO 9001:2000, via constructing gene libraries in the field of combinatorial biology, to the production and development of DNA-based active components. The team of more than 80 employees in Regensburg and with the subsidiary GENEART Inc. in Toronto/Canada reached break even in 2005. Since May 2006 GENEART AG is listed at the German Stock Exchange.