Fennec Announces Results of Annual Meeting

Rhea-AI Summary

Fennec Pharmaceuticals (NASDAQ:FENC) held its Annual General and Special Meeting on June 3, 2025, in New York. All six nominated directors were successfully elected with strong shareholder support, receiving approval rates between 93.62% and 97.84%. Shareholders also approved key proposals including: the appointment of Haskell & White LLP as auditors (99.64% approval), executive compensation (85.50% approval), and amendments to the 2020 Equity Incentive Plan (91.27% approval, or 88.01% excluding insider shares). The company noted its reliance on TSX Company Manual Section 602.1 exemption for the equity plan amendments, applicable to Nasdaq-listed companies.

Positive

• High approval rates for all directors with over 93% support
• Strong shareholder support (99.64%) for auditor appointment
• Successful passage of all proposed amendments and compensation plans

Negative

• None.

RESEARCH TRIANGLE PARK, N.C., June 03, 2025 (GLOBE NEWSWIRE) -- Fennec Pharmaceuticals Inc. (the “Company”) (NASDAQ:FENC) (TSX:FRX) today announced that the nominees listed in the management proxy circular dated April 25, 2025 were elected as directors of the Company at the Annual General and Special Meeting of Shareholders held in New York, New York on June 3, 2025.

Detailed results of the vote for the election of directors are set out below:

Name of Nominee	Votes For	% Votes For	Votes Withheld	% Votes Withheld
Dr. Khalid Islam	13,858,131	97.84%	304,760	2.15%
Mr. Chris A. Rallis	13,808,792	97.49%	354,099	2.50%
Mr. Marco Brughera	13,807,501	97.49%	355,390	2.50%
Dr. Jodi Cook	13,259,894	93.62%	902,997	6.37%
Mr. Rostislav Raykov	13,432,561	94.84%	730,330	5.15%
Mr. Jeff Hackman	13,495,309	95.28%	667,582	4.71%

Shareholders voted 99.64% in favor of appointing Haskell & White LLP as auditors and authorizing the directors to fix the auditor remuneration, 85.50% in favor of the compensation paid to the Company’s named executive officers, and 91.27% (88.01% after subtracting shares held by insiders eligible to participate in the Company’s 2020 Equity Incentive Plan) in favor of certain amendment to the Company’s 2020 Equity Incentive Plan.

The Company has relied on the exemption set forth in Section 602.1 of the TSX Company Manual, which provides that the TSX will not apply its standards to certain transactions involving eligible interlisted issuers on a recognized exchange, such as Nasdaq, in the approval of the amendments to its 2020 Equity Incentive Plan.

For further information, please contact:

Robert Andrade
Chief Financial Officer
Fennec Pharmaceuticals Inc.
Tel: 919-246-5299

FAQ

Who are the directors elected to Fennec Pharmaceuticals (FENC) board in 2025?

The elected directors are Dr. Khalid Islam, Mr. Chris A. Rallis, Mr. Marco Brughera, Dr. Jodi Cook, Mr. Rostislav Raykov, and Mr. Jeff Hackman.

What was the voting result for Fennec Pharmaceuticals' 2020 Equity Incentive Plan amendments?

The amendments received 91.27% approval overall, and 88.01% approval after excluding shares held by insiders eligible to participate in the plan.

Who received the highest and lowest shareholder approval among Fennec's directors?

Dr. Khalid Islam received the highest approval at 97.84%, while Dr. Jodi Cook received the lowest at 93.62%.

What was the shareholder approval rate for Fennec's executive compensation?

Shareholders voted 85.50% in favor of the compensation paid to the company's named executive officers.