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BBS-Bioactive Bone Substitutes Plc, Company Announcement, March 30th, 2023 at 4.45 p.m. (EEST)

BBS-Bioactive Bone Substitutes Plc: Decisions of the Annual General Meeting 2023

BBS-Bioactive Bone Substitutes Plc’s Annual General Meeting (AGM) was held on Thursday, March 30th, 2023 from 2:00 p.m. (EEST) in Oulu.

The AGM confirmed the financial statements for the financial year 2022, discharged the Board of Directors and the CEO from liability.

The AGM decided that the company will not pay dividends for the financial year 2022.

The Board of Directors and the Auditor

The AGM decided that the number of Board members will be five (5). Jarmo Halonen, Pekka Jalovaara, Seppo Nevalainen, Kirk Andriano, and Ahti Paananen were elected as board members for the term ending at the close of the next AGM.

The AGM decided that the chairman of the board be paid EUR 1,500 per meeting and EUR 1000 per meeting for other members. No compensation will be paid for e-mail meetings.

Ernst & Young Oy was re-elected as the company’s auditor, and Jari Karppinen, KHT, will act as the company’s principal auditor. The auditor is paid a fee according to a reasonable invoice approved by the company.

Authorizations

The AGM decided to authorize the Board of Directors to decide in one or more instalments on share issues and on the issuance of option rights and other special rights entitling to shares referred to in Chapter 10, Section 1 of the Finnish Limited Liability Companies Act as follows:

• The maximum number of shares to be issued pursuant to the authorization shall not exceed 6,000,000 shares.
• The Board of Directors decides on all terms and conditions for issuing shares, options and other special rights entitling to shares. Share issues and the issuance of option rights and other special rights entitling to shares may take place in deviation from the shareholders' pre-emptive subscription right (directed issue) if there is a weighty financial reason for the company to do so. The authorization applies to the transfer of both new shares and own shares held by the company.
• In the company's share issue, shares may be transferred either in exchange for payment or free of charge. A directed share issue may be free of charge only if there is a particularly significant financial reason for the company and it is in the interests of all its shareholders.
• The authorization is valid until June 30th, 2024, and it revokes the authorization granted by the Annual General Meeting on March 17th, 2022, as it enters into force.

Minutes of the meeting

The minutes of the AGM will be available on the Company’s website www.bbs-artebone.fi no later than April 13th, 2023.

For more information:

Ilkka Kangasniemi, CEO,
tel. +358 40 708 0307, e-mail: ilkka.kangasniemi@bbs-artebone.fi

Certified Advisor:
Nordic Certified Adviser AB, tel. +46 70 551 67 29, info@certifiedadviser.se

BBS in brief

BBS-Bioactive Bone Substitutes Plc is a Finnish orthobiology company whose core competence is the development, commercialization and manufacture of easy-to-use bone implants that promote bone formation and healing. Bone substitutes, i.e. implants, are intended for the treatment of various bone damage, bone healing problems and bone diseases instead of autologous and bank bone grafts. BBS aims to become one of the leading players in the field of bioactive implants intended for bone healing problems. The company's head office is located in Oulu, and it employs 20 people.

BBS was founded in 2003, and the company has been listed on Nasdaq First North Growth Market Finland since February 2018.