MPI - Notice to convene extraordinary general meeting

2017-02-07

Notice to convene EXTRAORDINARY General Meeting
Indkaldelse til EKSTRAORDINÆR Generalforsamling

Der indkaldes herved til EKSTRAORDINÆR generalforsamling i Medical Prognosis Institute A/S ("Selskabet"):
Notice is hereby given that aN EXTRAORDINARY general meeting of Medical Prognosis Institute A/S (the "Company") will be held on:

22. februar 2017, kl. 17.30
February 22nd 2017 at 5:30 pm CET

Generalforsamlingen afholdes hos:
The general meeting will be held at:

Medical Prognosis Institute A/S, Venlighedsvej 1, 2970 Hørsholm, Danmark

Dagsorden for generalforsamlingen er som følger:
The agenda for the annual general meeting is as follows:

1. Valg af generalforsamlingens dirigent
Election of Chairman of the Meeting

2. Beslutning om vedtagelse af retningslinjer for incitamentsaflønning af bestyrelsen og direktionen i Selskabet
Resolution to adopt guidelines regarding the application of incentive schemes to the Board of Directors and the executive management of the Company

3. Eventuelt
Any other business


 

Fuldstændige forslag
Complete Proposals

Re 1
Bestyrelsen foreslår, at advokat Lars Lüthjohan Jensen vælges som dirigent på generalforsamlingen.
The Board of Directors proposes that attorney-at-law Lars Lüthjohan Jensen is elected as chairman of the general meeting.

Re 2
Bestyrelsen foreslår at retningslinjerne vedhæftet som bilag 1 vedtages som Selskabets retningslinjer for incitamentsaflønning af bestyrelsen og direktionen i Selskabet i overensstemmelse med Selskabslovens § 139.
The Board of Directors proposes that the guidelines attached hereto as schedule 1 is adopted as the Company's guidelines regarding the application of incentive schemes to the Board of Directors and the executive management of the Company in accordance with the Danish Companies Act section 139.

Begrundelsen for forslaget er, at Selskabets bestyrelse ved bestyrelsesmøde den 14. juni 2016 konstaterede, at warrants udstedt af bestyrelsen til Selskabets direktion og bestyrelse den 14. december 2014 og den 18. februar 2016 var ugyldige, idet Selskabet forinden udstedelsen skal have vedtaget og godkendt retningslinjer på generalforsamlingen for incitamentsaflønning i henhold til selskabslovens § 139. Formålet med vedtagelsen af vedhæftede retningslinjer er at muliggøre generalforsamlingens udstedelse af warrants af samme antal og på samme vilkår som de ugyldige warrants.

The reason for the proposal is that the Board of Directors on June 14th 2016 resolved that warrants issued by the Board of Directors to the executive management board and the Board of Directors of the Company on respectively December 14th 2014 and February 18th 2016 were invalid as the Company prior to such issuance duly must adopt and obtain approval of incentive guidelines from the general meeting pursuant to the Danish Companies Act Section 139. The purpose of the adoption of the guidelines attached is to enable the general meeting to resolve an issue of an equal number of warrants on equal terms to the invalid warrants.   

-oo0oo-
Vedtagelseskrav:
Voting requirements for adoption:
Der gælder følgende vedtagelseskrav for forslagene, der skal være opfyldte for, at forslagene kan anses som vedtaget:
The following voting requirements apply to the adoption of the proposals:
                     
Forslagene under punkt 1 og 2 kan vedtages med simpelt flertal.
The proposals in item 1 and 2 require simple majority of the votes cast.

Information:
Information:
Denne indkaldelse indeholdende dagsorden og de fuldstændige forslag vil være fremlagt på selskabets kontor til eftersyn og vil være tilgængelige på Selskabets hjemmeside www.medical-prognosis.com fra dags dato.
This notice including agenda and the complete proposals will be available for review the Company's premises as well as on the Company's web page www.medical-prognosis.com from today.

Deltagelse og stemmerettigheder
Participation and voting rights

En aktionærs ret til at deltage i og stemme på den ekstraordinære generalforsamling fastlægges på baggrund af de aktier, som aktionæren besidder på dagen for generalforsamlingen i henhold til selskabets ejerbog. Selskabets ejerbog føres af VP Securities A/S. Aktier skal være noteret på navn i ejerbogen ført af VP Securities A/S eller være noteret på navn hos Euroclear Sweden AB. Aktionærer der ejer aktier gennem en depotbank skal koordinere med depotbanken, at aktionæren bliver noteret på navn hos Euroclear Sweden AB forud for generalforsamlingen.
The right of a shareholder to attend and vote at the extraordinary general meeting is determined by the shares held by the shareholder at the date of the general meeting according to the shareholder register kept by VP Securities A/S. The shareholder must be recorded by name in the shareholder register kept by VP Securities A/S or by Euroclear Sweden AB. Shareholders who hold shares through a depositary bank shall coordinate with their depositary bank that the shareholder is duly registered by name with Euroclear Sweden AB prior to the general meeting. 

Afgivelse af fuldmagt
Aktionærer kan stemme ved fuldmagt. Som bilag til denne indkaldelse er indeholdt en fuldmagtsblanket, som kan anvendes såfremt aktionærer ønsker at give fuldmagt til bestyrelsen.
For the general meeting, shareholders may vote by proxy. A proxy form is attached to this notice and may be used if the shareholder wishes to give proxy to the Board of Directors.

Brevstemmer:
Aktionærer er berettigede til - som alternativ til at give møde og stemme på selve generalforsamlingen - at brevstemme, dvs. afgive skriftlig stemme før afholdelsen af generalforsamlingen. Aktionærer, der ønsker at brevstemme, skal sende deres brevstemme til Selskabet således at denne er modtaget af selskabet senest kl. 12.00 den 21. februar 2017. Brevstemmer kan ikke tilbagekaldes. Vær opmærksom på at breve undertiden kan være flere dage undervejs.
Shareholders may - instead of voting in person at the ordinary general meeting - choose to vote by mail, i.e. voting in writing prior to the general meeting. Any shareholder who chooses to vote by mail shall send the absentee vote to the Company so that the has Company receives the votes at the latest on February 21st 2017 at 12:00 am. Votes delivered by mail cannot be revoked. Please take into account that mail can be several days in transfer.

-oo0oo-
February 7th, 2017
On behalf of the Board of Directors


BILAG 1

SCHEDULE 1

 

GENERAL GUIDELINES FOR INCENTIVE PAY FOR BOARD MEMBERS AND EXECUTIVES OF MEDICAL PROGNOSIS INSTITUTE A/S

Under the Companies Act § 139 the board of directors of a listed company before entering a specific agreement on incentive pay with a member of the Board of Directors or executive officers must have general guidelines for incentive payment of board members and executive officers. The general guidelines must be considered and approved at a General Meeting and published on the company website.
Medical Prognosis Institute A/S has since its inception in 2004 used a combination of fixed remuneration and variable remuneration and share-based payments in the form of cash bonuses and warrants as a supplement. Terms of issued warrants are described in the company's articles of association. The Board believes that the Company is dependent on being able to attract and retain competent directors and executive management skills at a high level. Furthermore, the board believes that incentive remuneration of directors and executives is essential to create further incentive for these to create value for shareholders of the Company. Incentive Remuneration of directors and executive officers will be designed to attract, retain and motivate such members.
To provide incentives to achieve short-term goals the Board may agree a bonus scheme to the Executive Board with predetermined annual milestones.
Warrant grant 2017
On June 14th 2016 the board of directors resolved that 696,220 warrants in total issued by the board of directors to the executive management board and the board of directors of the Company on respectively December 14th 2014 and  February 18th 2016 were invalid as the Company had not prior to such issues duly adopted and obtained approval from the general meeting of incentive remuneration guidelines pursuant to the Danish Companies Act Section 139. Consequently, in order to compensate holders of the cancelled warrants and subject to approval from the general meeting, the company expects to grant a number of warrants to each holder of the cancelled warrants corresponding to the cancelled warrants. The estimated Black-Scholes value of this warrant grant to members of the board of directors and members of the executive management is DKK 16,013,060.

General principles

These guidelines provide the general rules for incentive schemes for the Board of Directors and Management Board.
The guidelines apply to incentive pay to the members of MPI's Board of Directors and Management Board and for members of the Board of Directors and Management Board in MPI's subsidiaries if these also have space in MPI's board of directors.

The incentive scheme consists of Warrants. The theoretical market value of the year's total grant of Warrants - calculated on the date of grant in accordance with the International Financial Reporting Standards 2 (IFRS 2) on basis of the Black-Scholes model containing customary, market-consistent prerequisites - may not exceed DKK 5 million a year.

The allocation of the Warrants may be dependent on achieving certain goals, but need not be. The Board's decision on the allocation of Warrants is based on the Boards best assessment of the board member or executive and the quality, which makes such a reward earned and with due respect to the Company's economy.
Specifically regarding Warrants
The Board shall decide exercise price and the other terms of the Warrants issued, except as provided by these guidelines.
Each Warrant entitles the holder to buy one share of nominally DKK 0.05 of the Company at a fixed exercise price.
When warrants are exercised, the Company will issue new shares pursuant to the Articles of Association in all respects to be issued with the same rights as existing shares in the Company. The issuance of warrants shall be without pre-emptive rights for existing shareholders.
The issued Warrants may have a maturity of up to 10 years and the exercise of the Warrants may be subject to a vesting period of up to 4 years. The Board can when granting determine specified periods within which utilization is possible (so-called "windows"). The Board has the right in its sole discretion to determine whether the Warrants may be exercised earlier (accelerated vesting), such as, but not limited to, in the event of a change of control, merger, liquidation or similar.

Repayment of variable components

In case of serious breach, or in case of grant, based on accounts found to be seriously flawed, the Company may cancel or revoke unused Warrants.

Publication and entry into force

The company's articles of association contain a provision that the General Assembly has adopted guidelines for incentive pay to the Board of Directors and Management pursuant to the Companies Act. § 139. The guidelines are published on the Company's website (www.medical-prognosis.com).
These guidelines apply until the General Assembly have adopted amended guidelines, after which the revised guidelines as soon as possible will be published on the Company's website, specifying the date of the revised guidelines.
These guidelines have been reviewed and approved at the general meeting on [DATE]
Existing incentive agreements
The Company has entered into incentive remuneration agreements prior to the listing of the Company's shares. These existing incentive agreements include both warrant and cash bonus remuneration.


Fuldmagt
PROXY

Undertegnede giver hermed:
The undersigned hereby:

(Tick)   (angiv navn på den du giver fuldmagt)
(write the name of the person you give power of attorney)
   

 
 
     

Bestyrelsen i Medical Prognosis Institute A/S
The Board of Directors at Medical Prognosis Institute A/S

Fuldmagt til at repræsentere og afgive stemme for min samlede aktiebeholdning på den ekstraordinære generalforsamling i Medical Prognosis Institute A/S, 22. Februar 2017

Power of attorney to represent and vote on all my shares at the Extraordinary General Meeting of Medical Prognosis Institute A / S, February 22nd 2017
 
 
 

Navn på aktionær
Name of shareholder
 
 

Adresse
Address
 
 

Antal aktier
Number of shares
 

Dato:
Date:

____________________________
Navn:
Name:

Returnér denne fuldmagt underskrevet og dateret til Medical Prognosis Institute A/S, venlighedsvej 1, DK - 2970 Hørsholm.
Please return the power of attorney signed and dated to Medical Prognosis Institute A/S, Venlighedsvej 1, DK - 2970 Hoersholm.