Fennec Shareholders OK Equity Plan Amendment at AGM

Fennec Pharmaceuticals shareholders voted to re-elect the company's director slate, approve the auditor appointment, back executive compensation, and amend the 2020 Equity Incentive Plan at the annual meeting held online June 10.

Auditor Haskell & White LLP received 99.64% support. The say-on-pay resolution on compensation for named executive officers passed with 85.50% of votes cast. The amendment to the company's existing equity plan, which increases the share reserve and extends the term, was approved by 91.27% of shareholders; excluding shares held by insiders eligible to participate in the plan, the approval rate was 88.01%.

Fennec relied on an exemption under Section 602.1 of the TSX Company Manual, which allows the TSX to waive its standards for certain transactions involving eligible interlisted issuers on a recognized exchange such as Nasdaq. The company's shares trade on both the Nasdaq Capital Market under the ticker FENC and on the Toronto Stock Exchange under FRX.

Robert Andrade, Fennec's chief financial officer, is the contact for further information. The meeting was conducted virtually, and detailed voting results were filed with regulators.