Medicenna shares win director backing and share consolidation plan

Medicenna Therapeutics Corp. said shareholders at its annual general and special meeting on 1 October 2026 elected all four director nominees, reappointed MNP LLP as auditor and approved a special resolution on a possible share consolidation.

Each nominee was elected with more than 97% of the votes cast by shareholders present at the meeting or represented by proxy. Mr. Albert Beraldo received 27,751,517 votes for, or 97.42%, against 736,191 votes, or 2.58%. Mr. Richard Sutin received 27,779,927 votes for, or 97.52%, against 707,781 votes, or 2.48%.

Mr. Angelos Georgakis received 27,779,495 votes for, or 97.51%, against 708,213 votes, or 2.49%. Dr. Fahar Merchant received 27,715,844 votes for, or 97.29%, against 771,864 votes, or 2.71%.

The company said shareholders also approved the re-appointment of MNP LLP as auditor. Medicenna added that 31.82% of its issued and outstanding common shares were represented in person and by proxy at the meeting.

Shareholders further approved a special resolution authorising the consolidation of the company’s issued and outstanding common shares, with the ratio to be decided by the board within a range of one post-consolidation share for every 2 to 20 pre-consolidation shares. The board can also decide not to proceed.

Medicenna said the consolidation may be undertaken as part of its evaluation of available strategic opportunities, including, if appropriate, to support compliance with the listing requirements of a major U.S. stock exchange. If the board decides to proceed, the company said it will announce the ratio and effective date after receiving required regulatory approvals.

The company said a consolidation is not a guarantee that it will satisfy all major U.S. stock exchange listing requirements or that its shares will be accepted for listing.