Invitation to the ordinary general meeting AC Immune SA
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Category: Notifications issued to company members Sub-category: Invitation to the General Meeting Publication date: SHAB 01.06.2022 Expected expiry date: 01.06.2023 Publication number: UP04-0000004407 Publishing entity Bär & Karrer AG, Brandschenkestrasse 90, 8002 Zürich Invitation to the ordinary general meeting AC Immune SA Organisation concerned: AC Immune SA CHE-109.878.825 EPFL Innovation Park, bâtiment B 1015 Lausanne General meeting details: 24.06.2022, 14:30 Uhr, EPFL Innovation Park, Building B 1015 Lausanne Switzerland Invitation/Agenda: Please refer to the PDF attachment (Invitation to the Annual General Meeting 2022 of AC Immune SA) with respect to the agenda items and the proposals as well as for further information. Additional legal info: Due to the extraordinary situation in connection with the Covid-19 pandemic, the Annual General Meeting will be held without personal participation of the shareholders. Based on article 27 of the Swiss Federal Council's "Ordinance 3 on Measures to Combat the Coronavirus (COVID-19)" of 19 June 2020, as subsequently amended, the Board of Directors resolved that the shareholders can exercise their rights exclusively through the independent proxy Reymond & Associés, Avenue de la Gare 1, case postale 7255, 1002 Lausanne, Switzerland.
To the shareholders of AC Immune SA The Board of Directors proposes the approval of
the total maximum amount of non-performance-
Invitation to the Annual General related cash compensation for the Executive
Meeting 2022 Committee, of CHF 1’498K (cash-based
Date: 24 June 2022, at 14:30 Central compensation, excluding employer social security
European Time and pension contributions) from 1 July 2022 to 31
Place: AC Immune SA, EPFL December 2022.
Innovation Park, Building B, 4.3 Binding vote on Total Variable Compensation
1015 Lausanne, Switzerland for Members of the Executive Committee for
the current year 2022
AGENDA ITEMS AND PROPOSALS OF THE The Board of Directors proposes the approval of
BOARD OF DIRECTORS the total maximum amount of variable
1. 2021 IFRS Consolidated Financial Statements, compensation for the Executive Committee of
2021 Statutory Annual Report and 2021 CHF 1’158K (cash-based compensation,
Compensation Report excluding employer social security and pension
contributions) for the current year 2022.
1.1 Approval of 2021 IFRS Consolidated Financial
Statements and 2021 Statutory Annual Report 4.4 Binding vote on Equity for Members of the
The Board of Directors proposes to approve the Executive Committee from 1 July 2022 to
2021 IFRS Consolidated Financial Statements 31 December 2022 (transition period)
and the 2021 Statutory Annual Report and to take The Board of Directors proposes the approval of
note of the Reports of the Auditors. the maximum grant of equity or equity linked
instruments for the Executive Committee with a
1.2 Advisory vote on the 2021 Compensation maximum value of CHF 1’839K (equity or equity
Report linked instruments at grant value, excluding
The Board of Directors proposes that the 2021 employer social security and pension
Compensation Report be endorsed (non-binding contributions) from 1 July 2022 to 31 December
advisory vote). 2022.
2. Appropriation of Loss 4.5 Binding vote on Maximum Aggregate
The Board of Directors proposes the following Compensation for Members of the Executive
appropriation: Committee for the calendar year 2023
The Board of Directors proposes the approval of
In CHF K the total maximum compensation for the
Executive Committee with maximum value of
Accumulated profit (loss) at Jan. 1, 2021 (119’975) CHF 7’895K (cash-based compensation, variable
compensation, and equity or equity linked
instruments at grant value, excluding employer
Net profit (loss) for the year 2021 (75’204)
social security and pension contributions) from
1 January 2023 to 31 December 2023.
Accumulated losses brought forward (195’179)
5. Re-elections
Under IFRS accounting standards, the consolidated 5.1 Re-election of Members of the Board of
net loss for the business year 2021 amounted to Directors
CHF 72’996K. The Board of Directors proposes that each of the
following persons be re-elected as directors for a
term of office until the end of the Annual General
3. Discharge of the Board of Directors and of the
Meeting 2023:
Executive Committee
The Board of Directors proposes that all members 5.1.a Douglas Williams as Member of the Board
of the Board of Directors and of the Executive of Directors and Chairman
Committee be discharged from their liabilities for
their activities in the financial year 2021. And as Members of the Board of Directors:
5.1.b Monika Bütler
4. Compensation for the Members of the Board of
Directors and the Executive Committee 5.1.c Alan Colowick
4.1 Binding vote on Maximum Aggregate 5.1.d Tom Graney
Compensation for Members of the Board of 5.1.e Carl June
Directors from 1 July 2022 to 30 June 2023
5.1.f Werner Lanthaler
The Board of Directors proposes the approval of
the total maximum amount of compensation for 5.1.g Andrea Pfeifer
the Board of Directors of CHF 1’242K (cash-based 5.1.h Monica Shaw
and equity or equity linked instruments at grant
value, excluding employer social security and 5.1.i Roy Twyman
pension contributions) covering the period from 5.2 Re-election of Members of the Compensation,
1 July 2022 to 30 June 2023. Nomination & Corporate Governance
4.2 Binding vote on Total Non-Performance- Committee
Related Compensation for Members of the The Board of Directors proposes that:
Executive Committee from 1 July 2022 to 5.2.a Tom Graney
31 December 2022 (transition period)5.2.b Roy Twyman Article 3a, paragraph 2:
5.2.c Douglas Williams The Board of Directors shall Le conseil d'administration fixe
determine the time of the la date d'émission, le prix
be re-elected as Members of the Compensation, issuance, the issue price, the d'émission, la manière de
Nomination & Corporate Governance Committee manner in which the new libérer les nouvelles actions
for a term of office until the end of the Annual registered shares have to be nominatives, la date à partir de
General Meeting 2023. paid up, the date from which laquelle les actions
the registered shares carry the nominatives donnent droit à un
5.3 Re-election of the Statutory Auditors right to dividends, the dividende, les conditions pour
The Board of Directors proposes that conditions for the exercise of l'exercice des droits de
PricewaterhouseCoopers SA, in Pully, the preemptive rights and the souscription préférentiels et
Switzerland, be re-elected as Statutory Auditors allotment of preemptive rights l'attribution des droits de
for a term of office of one year. that have not been exercised. souscription préférentiels qui
The Board of Directors may n'ont pas été exercés. Le
5.4 Re-election of the Independent Proxy allow the preemptive rights that conseil d'administration peut
The Board of Directors proposes that Reymond & have not been exercised to autoriser que des droits de
Associés, Lausanne, Switzerland, which will be expire, or it may place with souscription préférentiels qui
represented by any of their attorneys for this third parties such rights or n'ont pas été exercés expirent
purpose, be re-elected as Independent Proxy for registered shares, the ou attribuer à des tiers ces
preemptive rights of which droits ou actions nominatives,
a term of office until the end of the Annual General
have not been exercised, at dont les droits de souscription
Meeting 2023. market conditions or use them préférentiels n'ont pas été
6. Changes to the Articles of Association otherwise in the interest of the exercés, aux conditions du
The Board of Directors is proposing to the Company. marché ou les utiliser
autrement dans l'intérêt de la
Shareholders to accept certain changes to the
société.
Company’s Articles of Association on three topics:
• Creation of Authorized Share Capital Article 3a, paragraph 3:
• Increase of the Conditional Capital for bonds The Board of Directors is Le conseil d'administration est
and similar debt instruments authorized to withdraw or limit autorisé à retirer ou à limiter
the preemptive rights of the les droits préférentiels de
• Increase of the Conditional Capital for shareholders and to allot them souscription des actionnaires
Employee benefit plans to third parties: et à les attribuer à des tiers:
6.1 Authorized Share Capital a) if the issue price of the new a) si le prix d'émission des
The Board of Directors proposes to add registered shares is nouvelles actions nominatives
determined by reference to the est déterminé avec une
authorized share capital to enable the Board of
market price (with a customary référence au prix de marché
Directors to issue up to 20’000’000 new registered discount); or (avec un rabais usuel); ou
common shares of CHF 0.02 nominal value each
until 24 June 2024, and, accordingly, to introduce b) for the acquisition of an b) pour l'acquisition d'une
a new article 3a (Authorized Capital Increase of enterprise, part of an entreprise, part d'entreprise ou
enterprise or participations, or participation, ou pour le
Share Capital) into the Articles of Association, as
for the financing or refinancing financement ou le
follows: of any of such acquisition, or in refinancement de ladite
Article 3a, paragraph 1: the event of share placement acquisition, ou en cas de
for the financing or refinancing placement d'actions pour le
The Board of Directors is Le conseil d'administration est of such placement; or financement ou le
authorized to increase the autorisé à augmenter le refinancement dudit
share capital, in one or several capital-actions, en une ou c) for raising of capital placement; ou
steps, until 24 June 2024, by a plusieurs étapes jusqu'au (including private placements)
maximum amount of 24 juin 2024, d'un montant in a fast and flexible manner c) pour lever des capitaux (y
CHF 400’000 by issuing a maximum de CHF 400'000 par which probably could not be compris des placements
maximum of 20'000'000 l'émission d'un nombre reached without the exclusion privés) dans un délai rapide et
registered shares with a par maximum de 20'000'000 of the statutory pre-emptive flexible, ce qui ne pourrait
value of CHF 0.02 each, to be actions nominatives d'une right of the existing probablement pas être réalisé
fully paid up. An increase of valeur nominale de CHF 0.02 shareholders. sans l'exclusion du droit
the share capital (i) by means chacune, à libérer préférentiel de souscription
of an offering underwritten by a entièrement. Une statuaire des actionnaires
financial institution, a syndicate augmentation de capital (i) par existants.
or another third party or third souscription d'actions par une Article 3a, paragraph 4:
parties, followed by an offer to institution financière, un
the then-existing shareholders syndicat ou un tiers ou des The acquisition of registered L'acquisition d'actions
of the Company and (ii) in tiers, suivie par une shares out of authorized capital nominatives dans le cadre
partial amounts, shall also be souscription d'actions par les increase of share capital for d'une augmentation autorisée
permissible. actionnaires de la société alors general purposes and any du capital-actions à des fins
existants et (ii) par montants transfers of registered shares générales et les transferts
partiels, est également shall be subject to the d'actions nominatives sont
autorisée. restrictions specified in Article soumis aux restrictions
4 of the Articles of Association. prévues à l'article 4 des
statuts.6.2 Conditional Capital Increase for Bonds and Availability of Statutory Annual Report and
Similar Debt Instruments Compensation Report for 2021
The Board of Directors proposes to increase the
The Annual Statutory Financial Statements and
conditional capital for bonds and similar debt
the IFRS Consolidated Financial Statements, the
instruments in the maximum amount of CHF
Compensation Report as well as the Reports of
100’000 by allowing the issuance of 5'000’000
the Auditors for 2021 may be downloaded from the
registered shares of CHF 0.02 nominal value
Company’s website at
each, and, accordingly, to amend article 3b
https://ir.acimmune.com/events/agm or you may
(Conditional Share Capital Increase for Bonds and
order a printed copy via email at
Similar Debt Instruments), paragraph 1, of the
agm@acimmune.com indicating your mailing
Company's Articles of Association, as follows:
address. Please note that the Annual Report is
The share capital of the Le capital-actions de la société only available in English.
Company shall be increased peut être augmenté d'un
by a maximum amount of montant maximum de CHF Exercise of voting rights and representation
CHF 100’000 through the issue 100’000 par l'émission d'un Due to Coronavirus restrictions, Shareholders are
of a maximum of 5'000’000 maximum de 5'000’000 actions
registered shares, payable in nominatives, d'une valeur
not permitted to attend the Annual General
full, each with a nominal value nominale de CHF 0.02 Meeting of 24 June 2022 (AGM) in person. Based
of CHF 0.02 through the chacune, à libérer on article 27 of the Swiss Federal Council's
exercise of conversion and/or entièrement, suite à l'exercice "Ordinance 3 on Measures to Combat the
option or warrant rights granted de droits de conversion et/ou Coronavirus (COVID-19)" of 19 June 2020, as
in connection with bonds or d'option ou de bons de amended by the Swiss Federal Council on
similar instruments, issued or souscription accordés en 27 October 2021, the Board of Directors resolved
to be issued by the Company relation avec des obligations that the Shareholders may exercise their rights at
or by subsidiaries of the ou d'instruments similaires, the AGM exclusively through the Independent
Company, including convertible émis ou devant être émis par
debt instruments. la société ou par des filiales de
Proxy: Reymond & Associés Attorneys,
la société, y compris les Lausanne, Switzerland.
instruments d'emprunt Only Shareholders holding shares as of
convertibles.
20 June 2022 at 4:00 PM US Eastern Time, are
eligible to vote their shares. New shares acquired
The remaining paragraphs of article 3b of the between 21 June and 24 June 2022 do not qualify.
Articles of Association remain unchanged.
Invitation
6.3 Conditional Capital Increase for Employee
Shareholders who are registered with
Benefit Plans
Computershare Trust Company N.A.
The Board of Directors proposes to increase the
(“Computershare”) on 17 May 2022 will receive
conditional capital for the benefit plans of
their AGM invitation and a personalized Proxy
employees and individuals of comparable
Card from Computershare.
positions, in the maximum amount of CHF 96’000
by allowing the issuance of 4’800’000 registered Shareholders who hold their shares through their
common shares of CHF 0.02 nominal value each, broker or bank (“Beneficial Owners”), should
and, accordingly, to amend article 3c (Conditional receive these materials through their broker or
Share Capital Increase for Employee Benefit bank and should be able to vote on the
Plans), paragraph 1, of the Articles of Association, broker/bank portal.
as follows:
Shareholders who acquire their shares between
The share capital of the Le capital social de la société 18 May 2022 and 20 June 2022 can issue their
Company shall be increased sera augmenté d'un montant voting instructions using the model Proxy Card
by an amount not exceeding ne dépassant pas CHF 96'000 (see instructions in the next section).
CHF 96’000 through the issue par l'émission d'un maximum
of a maximum of 4'800'000 de 4’800'000 actions Voting: electronic voting or use of Proxy Card
registered shares, payable in nominatives, entièrement
full, each with a nominal value libérées, d’une valeur The Company recommends that registered
of CHF 0.02, in connection nominale de CHF 0.02 Shareholders vote electronically through the
with the exercise of option chacune, dans le cadre de Computershare portal with the individual
rights granted to any employee l'exercice de droits d'option Shareholder number or, for “Beneficial Owners”,
of the Company or a accordés à tout employé de la using the portal of their bank or broker.
subsidiary, and any consultant, Société ou d'une succursale,
members of the Board of et à tout consultant, aux Electronic voting instructions must be given no
Directors, or other person membres du conseil later than 22 June 2022 at 11:59 PM, US Eastern
providing services to the d'administration, ou à autres Time.
Company or a subsidiary. personnes fournissant des
services en faveur de la Shareholders who do not wish to vote
société ou d'une filiale. electronically may give their written instructions to
the Independent Proxy by sending them their filled
The remaining paragraphs of article 3c of the and signed Proxy Card at the email address
Articles of Association remain unchanged. independentproxy@acimmune.com or at the
postal address: Reymond & Associés Attorneys,
Avenue de la Gare 1, PO 7255, 1002 Lausanne,
ORGANIZATIONAL NOTES (INCLUDING ON Switzerland, for delivery no later than
24 June 2022 at 08:30 AM, US Eastern Time.
MEASURES DUE TO COVID-19)Shareholders who are “Beneficial Owners” on 20 June 2022 will be requested to attach to their signed Proxy Card (i) a declaration of honor, confirming that they have not voted via the Independent Proxy electronically, and (ii) a most recent bank statement establishing the number of shares in their nominal ownership. If for any reason Shareholders have not received an Invitation or their Proxy Card, they may download a model Proxy Card from the Company’s website at https://ir.acimmune.com/events/agm. Once received by the Independent Proxy, voting instructions may not be changed by Shareholders. Should the Independent Proxy receive voting instructions from Shareholders both electronically and in writing, only the electronic instructions will be taken into account. LEGAL NOTICE Shareholder motions Motions from Shareholders with regard to agenda items are only permissible if they are submitted before the Annual General Meeting by the respective Shareholders or by an individual proxy acting on their behalf. The Independent Proxy will not act as an individual proxy for this purpose. Publication of the Invitation Per AC Immune's Articles of Association, the official Invitation to the Annual General Meeting 2022 will be published in the Swiss Official Gazette of Commerce (“SOGC”) on or before 3 June 2022. Concurrently with the publication in the SOGC, AC Immune's website “Investors/Annual General Meeting 2022” on https://ir.acimmune.com/events/agm will display a copy of the publication and provide a link to the publication as soon as it is released in the SOGC. Ecublens, AC Immune SA On behalf of the Board of Directors Dr. Douglas Williams, Chairman of the Board of Directors
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