Ladies and gentlemen, thank you for standing by, and welcome to the Cipher Pharmaceuticals' Annual Shareholder Meeting of 2020. Now, my pleasure to introduce your host, Craig Mull. Please go ahead.
Good morning, ladies and gentlemen, and welcome to Cipher's annual meeting of shareholders. My name is Craig Mull, and I am the Chairman and Interim Chief Executive Officer of Cipher Pharmaceuticals, Inc., and I will act as Chairman of the meeting. As this meeting is being held virtually by way of live webcast, we think it is necessary to set out a few rules for orderly conduct of the meeting. First, questions in respect of a motion can be submitted by any registered shareholder or duly appointed proxy holder using the instant messaging service of the virtual interface. Two, when asking a question, please indicate your name, which entity you represent, if any, and confirm that you are a registered shareholder or a duly appointed proxy holder.
Thirdly, general questions will be addressed at the end of the meeting, provided that questions regarding the procedural matters or directly related to the motions before the meeting may be addressed during the meeting. Fourth, for the purposes of the meeting today, voting on all matters will be conducted by electronic ballot. Registered shareholders and duly appointed proxy holders will be asked to vote on each item of business after the presentation of all items of business. Each shareholder of the company is entitled to one vote for each share held by him or her as of the record date. When you are asked to vote, you will receive a message on the virtual interface requesting you to register your votes. You will only have a certain amount of time to do so when the polls are open.
Only registered shareholders and duly appointed proxy holders are able to ask questions and vote. Beneficial shareholders and guests will not be able to ask questions or vote. Prior to proceeding with the formal business of the meeting, I would like to take a moment to introduce our directors, including our new director nominee. Our board currently consists of Dr. John Mull, Harold Wilkin, Christian Godin, Arthur DeBock, and myself, and at this meeting, the company is recommending the election of a new director nominee, Cathy Steiner. Cathy is a principal and healthcare lead at Origin Merchant Partners. With that, and without further delay, I would like to officially begin the meeting by addressing the formal business of the day. The annual meeting of shareholders of Cipher will now come to order. Scott Langille, Cipher's Chief Financial Officer and Secretary, will act as Secretary of the meeting.
Computershare Investor Services Inc., through its representatives, will act as scrutineer of the meeting. To expedite matters, I will move and second all motions. The preliminary scrutineer's report on attendance at the meeting is as follows. A quorum has been met with 44.6% of all outstanding shares being represented at the meeting. I declare that the requisite quorum of shareholders is present and that the meeting is properly constituted for the transaction of business. I direct that the scrutineer's report on attendance be annexed to the minutes of the meeting. With respect to mailing of materials to shareholders, I have a statutory declaration attesting to the due service of the notice of the meeting, the company's Management Information Circular, and the form of proxy, and I direct that this statutory declaration be annexed to the minutes of the meeting.
The agenda for motions to be submitted to shareholders' action with respect to the matters that are to be dealt with at the meeting are contained in the notice of meeting that shareholders receive prior to this meeting. As noted earlier, voting will take place at the end of all motions. The first item of business concerns the consolidated financial statements of Cipher for the year ended December 31st, 2019. On behalf of the directors, I now place before the meeting the consolidated financial statements and report of the auditors hereon for the year ended December 31st, 2019. Our interim financial statements for the period ended June 30th, 2020, are also available on SEDAR. We will now proceed with the election of directors. The board of directors has fixed the number of directors to be elected at the meeting at six.
The management information circular prepared in connection with the meeting sets out the six individuals who have been nominated by the company for election as directors. The nominees are Dr. John Mull, Harold Wilkin, Christian Godin, Arthur DeBock, and Cathy Steiner, and myself. On behalf of the company, I would like to thank the directors for agreeing to stand for election and to serve as directors of Cipher. As the company did not receive notice of any director nominations in connection with this meeting in accordance with its bylaws, the only persons eligible to be nominated for election to the board are the management nominees. Since there can be no other nominations, I will move and second a motion to elect the six named directors. Unless there are any questions, I move to the next item of business. We will now proceed with the appointment of the auditor.
Ernst & Young has served as the auditors of Cipher since their appointment effective March 20th, 2019. The board has approved, subject to shareholder confirmation, the appointment of Ernst & Young as Auditors of the company. I move and second that Ernst & Young be appointed as auditors of the company until the next annual meeting of shareholders and that the board be authorized to fix their remuneration. Unless there are any questions, I move to the voting portion of the meeting. As we mentioned, voting today will be conducted by electronic ballot. I will now take a moment to ask that the balloting be opened to registered shareholders and duly appointed proxy holders.
The polls are now open, and at this point, all registered shareholders and duly appointed proxy holders who have properly logged in with their control numbers or username and wish to vote will be able to see on the screen all motions before the meeting. Please register your votes by accessing the voting page. We will provide registered shareholders and duly appointed proxy holders approximately one more minute to complete the electronic ballots. Once the electronic balloting closes, the voting will disappear and your votes will automatically be submitted. I would ask the scrutineer to compile the report regarding the results of voting on all business matters. I have been advised by the scrutineers that the ballots and the proxies deposited for the meeting have been voted in favor of each of the matters considered today at this meeting. The formal results will be published on SEDAR.
I direct that the results be included with the minutes of this meeting. The formal items of business as set out in the notice of meeting have now been dealt with. I move and second a motion that this meeting now be terminated. As there are no further business to come before the meeting, I declare that the formal part of the meeting to be concluded. We will now accept questions from shareholders and proxy holders. I ask that all registered shareholders and duly appointed proxy holders who would like to ask a question use the instant messaging feature of the virtual interface to do so. We will answer as many questions as time permits. When asking your question, please state your name, the entity you represent, if any, and confirm you are a registered shareholder or duly appointed proxy holder.
Please limit your questions to topics relating to today's subject matter. We will now give attendees a moment to type any questions. As there are no questions, we will now conclude today's meeting. Thank you for joining us today, and we thank you for your continued support. And I'll turn the meeting back over to the organizer.
Thank you. Ladies and gentlemen, this concludes today's conference call. Thank you for your participation. You may now disconnect. Everybody, have a great day.