REG - PureTech Health PLC - Results of AGM on 13 June 2024 – Update Statement

Puretech HealthAnnouncement

28/08/2024 07:00

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RNS Number : 8786B  PureTech Health PLC  28 August 2024

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 capital(1) 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
(http://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 (mailto:publicrelations@puretechhealth.com)

Investor Relations

IR@puretechhealth.com (mailto:IR@puretechhealth.com)

 

UK/EU Media

Ben Atwell, Rob Winder

+44 (0) 20 3727 1000

puretech@fticonsulting.com (mailto:puretech@fticonsulting.com)

 

US Media

Nichole Bobbyn

+1 774 278 8273

nichole@tenbridgecommunications.com
(mailto:nichole@tenbridgecommunications.com)

 

 1  Based on the issued share capital as of March 31, 2024.

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