Cellmid 2018 Annual Report

DIRECTORS’

REPORT

CONTINUED

Events since the end of the ﬁnancial year

There have been no signiﬁcant events, other than those noted above, since the closing of the 2018 ﬁnancial year.

Likely developments and expected results of operations

The Group is focused on developing both its Consumer Health and Midkine Businesses in the coming year. Maximizing market

penetration for the Groups’ FGF5 inhibitor hair loss products in Australia and internationally will be the focus of the Consumer

Health business. The Group will also continue to progress its midkine assets in its dedicated wholly owned subsidiaries,

Lyramid and Kinera.

Environmental regulations

The Group’s operations are not regulated by any signiﬁcant environmental law of the Commonwealth or of a state or territory

of Australia, Japan or the United States.

Proceedings on behalf of the Company

No person has applied to the Court under section 237 of the Corporations Act 2001 for leave to bring proceedings on behalf

of the Group, or to intervene in any proceedings to which the Group is a party, for the purpose of taking responsibility on

behalf of the Group for all or part of those proceedings.

Indemniﬁcation and insurance of ofﬁcers and auditors

During the ﬁnancial year, the Group paid a premium to insure the Directors and ofﬁcers of the Group. The liabilities insured

are legal costs that may be incurred in defending civil or criminal proceedings that may be brought against the ofﬁcers in their

capacity as ofﬁcers of the Group, and any other payments arising from liabilities incurred by the ofﬁcers in connection with

such proceedings. This does not include such liabilities (other than legal costs) that arise from conduct involving a wilful breach

of duty by the ofﬁcers or the improper use by the ofﬁcers of their position or of information to gain advantage for them or

someone else or to cause detriment to the Company. It is not possible to apportion the premium between amounts relating to

the insurance against legal costs and those relating to other liabilities.

During or since the end of the ﬁnancial year, the Group has given an indemnity or entered into an agreement to indemnify, or

paid or agreed to pay insurance premiums in favour of its Directors as follows:

• right to access certain Board papers of the Group during the period of their tenure and for a period of seven years after that

tenure ends;

• subject to the Corporations Act 2001, an indemnity in respect of liability to persons other than the Company and its related

bodies corporate, that they may incur while acting in their capacity as an ofﬁcer of the Company or a related body corporate,

except for speciﬁed liabilities where that liability involves a lack of good faith or is for legal costs for defending certain legal

proceedings; and

• the requirement that the Group maintain appropriate directors’ and ofﬁcers’ insurance for the ofﬁcer.

No liability has arisen under these indemnities as at the date of the report.

There is no indemnity cover in favour of the auditor of the Group during the ﬁnancial year.