mdg-annual-report-2013

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112 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSGeographic or regional segmentsThe Group operates in Europe, Asia and the USA.REVENUE WITH EXTERNAL CUSTOMERSIN € K 2013 2012UK 0 5,000USA 3,246 2,115Other 963 1,269Total 4,209 8,384Information about segment revenue is arranged according to the relevant customer’s location.The major portion of non-current assets is held in Germany. In addition, a shareholding is held in an associate in theUSA (Catherex, Inc.).(56) Legal disputes and appealsIn June 2010, a third party opposed the granting of European Patent No. EP 1530465 to Medigene AG. The patentrelates to the manufacturing process for EndoTAG ® -1 and to compositions that can be manufactured using this process.In December 2011, the European Patent Office decided in a first-instance ruling that the patent is upheld to anextent which continues to protect the product EndoTAG ® -1. In the course of opposition proceedings, Medigene AGhad restricted its patent claims to the features that are relevant to EndoTAG ® -1. The opponent filed a notice of appealagainst the decision of the European Patent Office. A decision in this appeal procedure is not expected until2015. Medigene continues to assume that the patent will be upheld with a scope that remains to protect the EndoTAG® -1 product.The European Patent EP2108362 was granted in May 2013 from a divisional application of the above-mentionedpatent. The patent refers to specific liposomal compositions comprising taxanes with a specific stability. In February2014, an opposition against this patent was filed as well. The first decision in this opposition proceedings is not expecteduntil mid-2015. The risk situation for the in intellectual property rights position for EndoTAG ® -1 remains basicallyunchanged compared to the preceding year, by the opposition to the newly issued patend EP2108362 filed.In the past twelve months, no judicial disputes that could have a major influence on the Company’s or its subsidiariesfinancial situation have been pending, nor is there currently a threat of any such dispute.Further judicial disputes cannot be ruled out in the future.
MEDIGENE AG ANNUAL REPORT 2013 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 113(57) German Corporate Governance CodeMedigene AG’s Executive Board and Supervisory Board confirmed in their declaration of compliance of 16 December2013 that Medigene AG complies with the recommendations of the German Corporate Governance Code in the versionsdated 15 May 2012 and 13 May 2013, with the exceptions mentioned in the declaration of compliance. Therecommendations of the Code which Medigene AG does not implement are explained in detail and justified in the declarationof compliance pursuant to Section 161 of the German Stock Corporation Act (AktG). This statement is permanentlymade available in English and German on the Medigene AG website at http://www.medigene.com/mediainvestors/corporate-governance.(58) Auditing feesThe auditors and Group auditors received the following fees for the fiscal year ended:AUDITING FEESIN € K 2013 2012Audit services 128 143Audit related services (review of quarterly reports) 7 ‒Tax services 6 ‒Other services (transaction support services) 145 28Total 286 171I) EXECUTIVE BOARD AND SUPERVISORY BOARD(59) Executive BoardRemuneration of the Executive BoardRemuneration of the members of the Executive Board totaled €1,030 k in the fiscal year ended (2012: €1,035 k),including pension expenses of €48 k (2012: €52 k) and vehicle leasing costs for company cars of €29 k (2012: €31 k).In addition, stock options with a fair value of €31 k (2012: €34 k) were issued to the Executive Board.In fiscal year 2013, Medigene made a payment of €6 k (2012: €6 k) to the benevolent fund in connection with a pensioncommitment to a former member of the Executive Board.Pursuant to point 2.2.1 (II) of the German Corporate Governance Code, the Annual General Meeting may pass a resolutionto approve the remuneration system for Executive Board members. The resolution approving the current remunerationsystem was passed at the Annual General Meeting on 11 May 2010. A majority of 96% of the share capitalrepresented adopted the remuneration system for Executive Board members.Report on the remuneration system for members of the Executive Board of Medigene AGThe full Supervisory Board is responsible for setting the remuneration of Medigene AG’s Executive Board members. Itis regularly reviewed, taking into account the provisions relating to the Supervisory Board as per section 87 (I) and (II)of the German Stock Corporation Act (AktG) and the recommendations of the German Corporate Governance Code.
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Medigene AG Annual report 2013 Kapi
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Page 61 and 62: CONTENTCONSOLIDATED FINANCIAL STATE
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