At the annual general meeting of shareholders of the Human Stem Cell Institute (HSCI, MOEX: ISKJ), three important decisions were made: to rename the company to Artgen Biotech, to include independent directors on the Board of Directors, and to pay dividends for 2022.
Dividends will amount to RUB 1 per ordinary share. The date on which those entitled to receive dividends are determined is July 19.
Despite HSCI’s plans to invest in the development of a portfolio of drugs and platform solutions, the company will adhere to the adopted dividend policy and pay out part of its profits annually in the form of dividends. HSCI’s dividend policy is aimed at maintaining a balance of interests of shareholders, the company and increasing the company’s investment attractiveness.
HSCI’s official rebranding will begin in the 3rd quarter of 2023. Changing HSCI’s logo, corporate identity and renaming the company to Artgen Biotech will be aimed at making the company’s activities, strategy, and values clearer to a wide range of investors and the public.
The inclusion of independent directors in the Board of Directors will fulfill one of the conditions for listing the company’s shares as second-level securities on the Moscow Exchange in the future.
HSCI is a biotechnology company with a portfolio of innovative platform developments to implement in medical practice. The company was founded in 2003. Since 2009, it has been an issuer at the Moscow Exchange Innovation and Investment Market. The HSCI group includes companies at different development stages, from seed to early growth and maturity.
HSCI is developing an internal ecosystem to accelerate the group’s biotech companies and commercialize their developments. HSCI’s investment strategy is focused on the development and implementation of developments that increase the efficiency of health care and the quality of medical care.