EINDHOVEN, the Netherlands, May 02, 2024 (GLOBE NEWSWIRE) -- ONWARD Medical N.V.
(Euronext: ONWD), a medical technology company creating innovative spinal cord
stimulation therapies to restore movement, function, and independence in people
with spinal cord injury (SCI), today has convened the 2024 Annual General
Meeting of Shareholders (AGM), which will include consideration of the
resolutions to be submitted for adoption at the AGM, which will be held in
Amsterdam, the Netherlands, on June 13, 2024.
The resolutions, proposed by the Board, to be submitted for adoption at the AGM,
are as follows:
* Adoption of the Company's statutory annual accounts for the financial year
ended December 31, 2023, prepared in accordance with International Financial

    Reporting Standards (IFRS-EU). The 2023 statutory accounts were filed with
    the Netherlands Authority for the Financial Markets (AFM) on April
    25, 2024, and are posted on the Company's website (www.ir.onwd.com
    (https://ir.onwd.com/)) and the AFM's website (afm.nl
    (https://www.afm.nl/en/sector/registers/meldingenregisters/financiele-
    verslaggeving/details?id=A2304-04125)).
  * Implementation of the compensation policy over the financial year 2023
    (advisory non-binding voting item).
  * Release from liability of the members of the Board with respect to the
    performance of their duties during the financial year 2023.
  * Instruction to Ernst & Young Accountants LLP for the external audit of the
    Company's annual accounts for the financial year 2024.
  * Re-appointment of Mr. Jan Koch Øhrstrøm as non-executive director of the
    Board for a four-year term expiring at the end of the 2028 AGM.
  * Re-appointment of Mr. John Paul de Koning as non-executive director of the
    Board for a four-year term expiring at the end of the 2028 AGM.
  * Delegation of the authority of the Board to issue ordinary shares and to
    grant rights to subscribe for ordinary shares in the capital of the Company
    for 10% of the Company's issued share capital and to limit or exclude pre-
    emptive rights in connection therewith.
  * Delegation of the authority of the Board to issue ordinary shares and to
    grant rights to subscribe for ordinary shares in the capital of the Company
    for 50% of the Company's issued share capital and to limit or exclude pre-
    emptive rights in connection with one or more potential capital raises, or
    strategic purposes.
  * Authorization of the Board to acquire ordinary shares in the Company's
    capital.
  * Amendment of the Company's articles of association.

The record date for all shareholders to participate at the AGM will be May
16, 2024. The convening notice, the complete agenda, and all relevant detailed
information concerning the 2024 AGM, as well as all related AGM materials, are
available on the Company's website in the financial information of the Investors
section (www.ir.onwd.com (https://ir.onwd.com/)) and made available to
shareholders in compliance with legal requirements as of May 2, 2024.
To learn more about ONWARD Medical's commitment to partnering with the SCI Community to develop innovative solutions for restoring movement, function, and independence after spinal cord injury, please visit ONWD.com.
*All ONWARD Medical devices and therapies, including but not limited to ARC-
IM(®), ARC-EX(®), ARC-BCI((TM)), and ARC Therapy((TM)), alone or in combination with a
brain-computer interface (BCI), are investigational and not available for
commercial use.
About ONWARD Medical
ONWARD(®) Medical is a medical technology company creating therapies to restore
movement, function, and independence in people with spinal cord injury (SCI) and
movement disabilities. Building on more than a decade of scientific discovery,
preclinical, and clinical research conducted at leading hospitals,
rehabilitation clinics, and neuroscience laboratories, the Company has developed
ARC Therapy((TM)), which has been awarded ten Breakthrough Device Designations from
the US Food and Drug Administration (FDA).
ONWARD ARC Therapy, which can be delivered by external ARC-EX(®) or implantable
ARC-IM(®) systems, is designed to deliver targeted, programmed spinal cord
stimulation. Positive results were presented in 2023 from the Company's pivotal
study, called Up-LIFT, evaluating the ability for transcutaneous ARC Therapy to
improve upper extremity strength and function. The Company has submitted its
regulatory application to the FDA for clearance of the ARC-EX System in the US
and is preparing for regulatory submission in Europe. In parallel, the Company
is conducting studies with its implantable ARC-IM Therapy, which demonstrated
positive interim clinical outcomes for improved blood pressure regulation
following SCI. Other ongoing studies include use of ARC-IM Therapy to address
mobility after SCI and gait challenges in Parkinson's disease as well as using
the ARC-BCI platform to restore thought-driven movement of both upper and lower
limbs after SCI.
Headquartered in Eindhoven, the Netherlands, ONWARD Medical has a Science and
Engineering Center in Lausanne, Switzerland and a US office in Boston,
Massachusetts. The Company is listed on Euronext Brussels and Amsterdam (ticker:
ONWD).
For more information, visit ONWD.com, and connect with us on LinkedIn and
YouTube.
For Media Inquiries:
Aditi Roy, VP Communications
media@onwd.com (mailto:media@onwd.com)
For Investor Inquiries:
Khaled Bahi, Interim CFO
investors@onwd.com (mailto:investors@onwd.com)
Disclaimer
Certain statements, beliefs, and opinions in this press release are forward-
looking, which reflect the Company's or, as appropriate, the Company directors'
current expectations and projections about future events. By their nature,
forward-looking statements involve several risks, uncertainties, and assumptions
that could cause actual results or events to differ materially from those
expressed or implied by the forward-looking statements. These risks,
uncertainties, and assumptions could adversely affect the outcome and financial
effects of the plans and events described herein. A multitude of factors
including, but not limited to, changes in demand, competition, and technology,
can cause actual events, performance, or results to differ significantly from
any anticipated development. Forward-looking statements contained in this press
release regarding past trends or activities should not be taken as a
representation that such trends or activities will continue in the future. As a
result, the Company expressly disclaims any obligation or undertaking to release
any update or revisions to any forward-looking statements in this press release
as a result of any change in expectations or any change in events, conditions,
assumptions, or circumstances on which these forward-looking statements are
based. Neither the Company nor its advisers or representatives nor any of its
subsidiary undertakings or any such person's officers or employees guarantees
that the assumptions underlying such forward-looking statements are free from
errors nor does either accept any responsibility for the future accuracy of the
forward-looking statements contained in this press release or the actual
occurrence of the forecasted developments. You should not place undue reliance
on forward-looking statements, which speak only as of the date of this press
release. All ONWARD Medical devices and therapies referenced here, including but
not limited to ARC-IM(®), ARC-EX(®), ARC-BCI((TM)) and ARC Therapy((TM)), are
investigational and not available for commercial use.
Â