28
August 2024
PureTech Health
plc
Results of Annual General
Meeting on 13 June 2024 - Update Statement
In accordance with Provision 4 of
the UK Corporate Governance Code, PureTech
("PureTech" or the "Company") today
provides an update in respect of the results of its Annual General
Meeting (AGM) held on June 13, 2024. While all resolutions were
approved by shareholders, more than 20% of votes were cast against
Resolutions 2, 3, 4 and 8, relating to the Directors' Remuneration
Report, the revised Remuneration Policy, related changes to the
Performance Share Plan ("PSP"), and the re-election of John
LaMattina as a Director, respectively.
Consistent with the Company's
commitment to maintaining ongoing, transparent dialogue with its
shareholders, the Company has actively engaged with shareholders
throughout the year and in the lead up to the AGM, primarily as
part of finalizing a revised Remuneration Policy. Since the AGM,
the Board has taken further steps to understand the views of
shareholders. Specifically, the Company wrote to shareholders
representing more than 70% of the Company's issued share
capital[1] to offer engagement with the
Chair of the Board. Following that initial outreach, meetings were
held with shareholders representing more than 50% of issued share
capital1 during the months of July and August. While
there were a variety of topics discussed during these engagements,
there was broad recognition from shareholders regarding the
rationale for the changes made to the Remuneration Policy and the
implementation of the previous policy, particularly in relation to
the challenges the Company faces as a UK-listed business competing
for talent in the US where its operations are based.
The Board would like to thank the
shareholders who have engaged with the Company during this process.
The Board will continue to engage openly and constructively with
shareholders as it continues to develop the Company's approach to
governance, remuneration and reporting in the periods
ahead.
About PureTech Health
PureTech is a clinical-stage
biotherapeutics company dedicated to giving life to new classes of
medicine to change the lives of patients with devastating diseases.
The Company has created a broad and deep pipeline through its
experienced research and development team and its extensive network
of scientists, clinicians and industry leaders that is being
advanced both internally and through its Founded Entities.
PureTech's R&D engine has resulted in the development of 29
therapeutics and therapeutic candidates, including two that have
received both U.S. FDA clearance and European marketing
authorization and a third (KarXT) that has been filed for FDA
approval. A number of these programs are being advanced by PureTech
or its Founded Entities in various indications and stages of
clinical development, including registration enabling studies. All
of the underlying programs and platforms that resulted in this
pipeline of therapeutic candidates were initially identified or
discovered and then advanced by the PureTech team through key
validation points.
For more information,
visit www.puretechhealth.com or
connect with us on X (formerly Twitter) @puretechh.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains
statements that are or may be forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
All statements contained in this press release that do not relate
to matters of historical fact should be considered forward-looking
statements, including without limitation those related to our
future prospects, developments and strategies. The forward-looking
statements are based on current expectations and are subject to
known and unknown risks, uncertainties and other important factors
that could cause actual results, performance and achievements to
differ materially from current expectations, including, but not
limited to, those risks, uncertainties and other important factors
described under the caption "Risk Factors" in our Annual Report on
Form 20-F for the year ended December 31, 2023, filed with the SEC
and in our other regulatory filings. These forward-looking
statements are based on assumptions regarding the present and
future business strategies of the Company and the environment in
which it will operate in the future. Each forward-looking statement
speaks only as at the date of this press release. Except as
required by law and regulatory requirements, we disclaim any
obligation to update or revise these forward-looking statements,
whether as a result of new information, future events or
otherwise.
Contact:
PureTech
Public Relations
publicrelations@puretechhealth.com
Investor Relations
IR@puretechhealth.com
UK/EU Media
Ben Atwell, Rob Winder
+44 (0) 20 3727 1000
puretech@fticonsulting.com
US
Media
Nichole Bobbyn
+1 774 278 8273
nichole@tenbridgecommunications.com
