Medicenna shareholders back share consolidation plan

Medicenna Therapeutics Corp. said shareholders voted at its annual general and special meeting on 1 October 2026 to elect all of the nominees on its management circular, re-appoint MNP LLP as auditor and approve a special resolution for a possible consolidation of its common shares.

For a retail holder of the stock, the most relevant item is the consolidation proposal. The board has authority to choose a ratio within a range of one post-consolidation share for every 2 to 20 pre-consolidation shares, and it can also decide not to proceed.

The company said the move may be part of its review of strategic opportunities, including, if appropriate, support for compliance with the listing requirements of a major U.S. stock exchange. It also said a consolidation, if implemented, could increase the trading price per common share and help meet minimum bid price requirements, while potentially making the shares more attractive to U.S. institutional investors and others subject to minimum share-price rules.

Medicenna said the board will announce the consolidation ratio and effective date if it decides to proceed, subject to required regulatory approvals. The company also said the proposal is not a guarantee that any major U.S. stock exchange listing would be obtained or that its shares would meet all listing requirements.

All four nominees — Albert Beraldo, Richard Sutin, Angelos Georgakis and Dr. Fahar Merchant — were elected as directors with more than 97% of votes cast in each case. Shareholders also approved the re-appointment of MNP LLP as auditor.