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AstraZeneca PLC (LSE/STO/NASDAQ: LON:AZN) disclosed today the outcomes of its Annual General Meeting (AGM), with shareholders approving all resolutions by poll vote. The AGM, which took place today, saw the passage of resolutions 9 through 12 as special resolutions, while the rest were approved as ordinary resolutions.
The company, a global biopharmaceutical entity engaged in the development and commercialization of prescription medicines, reported a nearly unanimous vote in favor of receiving the company's accounts and the strategic report for the year ended December 31, 2024. The resolution garnered 99.89% of the votes cast.
Shareholders also confirmed the interim dividends for 2024 with 99.91% approval and re-appointed PricewaterhouseCoopers LLP as the company's auditor. The directors were authorized to set the auditor's remuneration with a 99.91% majority vote. Notably, InvestingPro data shows that AstraZeneca (NASDAQ:AZN) has maintained dividend payments for 33 consecutive years, demonstrating strong commitment to shareholder returns.
The AGM also involved the election and re-election of board members. Michel Demaré, Pascal Soriot, Aradhana Sarin, and other directors received strong backing, with all receiving over 99% support for their respective positions.
In resolutions concerning the company's governance and financial flexibility, shareholders authorized limited political donations and the allotment of shares. They also approved the directors' authority to disapply pre-emption rights and further disapply them for acquisitions and specified capital investments.
A significant 99.24% of votes favored the authorization for AstraZeneca to purchase its own shares. Additionally, a resolution to reduce the notice period for general meetings was approved with 92.81% of the vote.
The AGM saw the retirement of Deborah DiSanzo and Andreas Rummelt from the board. They will receive their pro-rata entitlement to non-executive director fees for April 2025, with no other remuneration or payment for loss of office.
The resolutions passed at the AGM, other than those concerning ordinary business, will be made available for inspection at the National Storage Mechanism.
The number of issued shares as of April 9, 2025, was 1,550,636,615, with each share entitling the holder to vote at the AGM. This announcement is based on a press release statement from AstraZeneca PLC. Currently trading near its 52-week low, InvestingPro's Fair Value analysis suggests the stock may be undervalued. Investors can access the comprehensive Pro Research Report, available for AstraZeneca and 1,400+ other top stocks, for detailed insights and actionable intelligence.
In other recent news, AstraZeneca has announced several significant developments. The European Union has approved AstraZeneca's drug Imfinzi, in combination with chemotherapy, for treating a specific form of lung cancer, following the AEGEAN Phase III trial results. This approval marks a new treatment regimen for patients with resectable non-small cell lung cancer, offering a 32% reduction in the risk of disease recurrence. Additionally, AstraZeneca's Enhertu received EU approval for treating a specific type of metastatic breast cancer, with the DESTINY-Breast06 Phase III trial showing improved progression-free survival compared to chemotherapy. AstraZeneca owes Daiichi Sankyo a $125 million milestone payment due to this approval.
Furthermore, AstraZeneca's experimental drug AZD0780 demonstrated promising results in a Phase IIb trial for reducing LDL cholesterol levels, potentially offering a new oral treatment option for patients. The Committee for Medicinal Products for Human Use of the European Medicines Agency also recommended AstraZeneca's Calquence for approval as a first-line treatment for mantle cell lymphoma, based on the ECHO Phase III trial results. In compliance with regulatory requirements, AstraZeneca reported its total voting rights, confirming 1,550,623,487 ordinary shares in issue. These recent developments reflect AstraZeneca's ongoing efforts in advancing treatment options across various therapeutic areas.
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