Medicenna shareholders back board and share consolidation plan

Medicenna Therapeutics Corp. said shareholders approved three items at its annual general and special meeting on October 1, 2026: all director nominees were elected, MNP LLP was re-appointed as auditor, and a special resolution cleared the way for a possible share consolidation.

The company said each of the four nominees received more than 97% of votes cast. Mr. Albert Beraldo got 27,751,517 votes for and 736,191 against, Mr. Richard Sutin got 27,779,927 for and 707,781 against, Mr. Angelos Georgakis got 27,779,495 for and 708,213 against, and Dr. Fahar Merchant got 27,715,844 for and 771,864 against.

The share consolidation would affect Medicenna’s issued and outstanding common shares if the board decides to proceed. The board would determine the ratio, within a range of one post-consolidation share for every 2 to 20 pre-consolidation shares, and it could also decide not to go ahead.

Medicenna said the consolidation may be considered as part of its review of strategic opportunities, including, if appropriate, support for compliance with the listing requirements of a major U.S. stock exchange. The company said that, if implemented, it could also increase the trading price per common share and potentially help attract U.S. institutional investors and others who face minimum share-price requirements.

The company said the consolidation is not a guarantee that it will meet all major U.S. stock exchange listing requirements or that its shares will be accepted for listing. It said any listing would still depend on meeting the relevant requirements and receiving approval from the exchange. Medicenna said 31.82% of its issued and outstanding common shares were represented at the meeting in person or by proxy.