MCN Adjourns Special Meeting of Shareholders Until August 26, 2026

Rhea-AI Summary

XAI Madison Equity Premium Income Fund (NYSE: MCN), managed by XA Investments, adjourned its Special Meeting of Shareholders due to a lack of quorum. The meeting, called to vote on approving a new sub-advisory agreement for the Fund, will reconvene on Thursday, August 26, 2026, at 8:45 a.m. Central Time at XA Investments’ offices, 321 N Clark St #2430, Chicago.

According to XA Investments, shareholders of record as of June 2, 2026 remain entitled to vote. Votes can be cast by internet, phone, or mail using the proxy card. The Fund’s Board of Trustees recommends voting “FOR” the proposal and urges shareholders to review the proxy statement available at https://www.okapivote.com/MCN/.

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CHICAGO, July 31, 2026 (GLOBE NEWSWIRE) -- XA Investments, LLC, manager of XAI Madison Equity Premium Income Fund (MCN) (the “Fund”) announced it has adjourned the Fund’s Special Meeting of Shareholders (the “Meeting”) due to a lack of quorum. Shareholders are urged to please submit their votes on the proposal to approve a new sub-advisory agreement for the Fund as soon as possible. The Meeting will reconvene on Thursday, August 26, 2026, at 8:45 a.m. Central Time, at the offices of XA Investments, LLC at 321 N Clark St #2430, Chicago, Illinois.

Shareholders of record of the Fund as of the close of business on June 2, 2026, are entitled to vote at the Meeting. Whether or not shareholders plan to attend the Meeting, it is important that their shares be represented and voted at the Meeting.

How to Vote

Use one of the following options to vote:

• By Internet: Visit the website listed on your proxy card, enter your control number and follow the simple on-screen instructions.
  
• By Phone: Call the toll-free number listed on your proxy card.
  
• By Mail: Sign and return the proxy card in the enclosed postage-paid envelope.
  

If shareholders do not have their proxy card and need assistance voting their shares or if they have any questions, please contact the Fund’s proxy solicitation firm, Okapi Partners LLC, toll-free at (855) 305-0855 or by email at XAI@OkapiPartners.com.

The Board of Trustees of the Fund believes the sub-advisory agreement is in the best interests of the Fund and recommends that shareholders vote “FOR” the proposal.

The proxy statement contains important information regarding the vote and shareholders of the Fund are urged to read the proxy statement and accompanying materials carefully. The proxy statement is also available at https://www.okapivote.com/MCN/.

About XA Investments

XA Investments LLC is a Chicago-based firm founded by XMS Capital Partners in 2016. XAI serves as the investment adviser for two listed closed-end funds and an interval closed-end fund. In addition to investment advisory services, the firm also provides investment fund structuring and consulting services focused on registered closed-end funds to meet institutional client needs. XAI offers custom product build and consulting services, including product development and market research, marketing and fund management. XAI believes that the investing public can benefit from new vehicles to access a broad range of alternative investment strategies and managers. For more information, please visit www.xainvestments.com.

This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

NOT FDIC INSURED	NO BANK GUARANTEE	MAY LOSE VALUE

Media Contact: 
Kimberly Flynn, President
XA Investments LLC
Phone: 888-903-3358
Email: KFlynn@XAInvestments.com
www.xainvestments.com

FAQ

Why was the XAI Madison Equity Premium Income Fund (MCN) special meeting adjourned on July 31, 2026?

The MCN special meeting was adjourned because a quorum of shareholders was not reached. According to XA Investments, the meeting will reconvene on August 26, 2026, so shareholders can still vote on the proposed new sub-advisory agreement for the Fund.

When will the rescheduled MCN (XAI Madison Equity Premium Income Fund) special meeting take place?

The reconvened MCN special meeting is scheduled for August 26, 2026, at 8:45 a.m. Central Time. According to XA Investments, it will be held at 321 N Clark St #2430, Chicago, and shareholders of record as of June 2, 2026, may vote.

What are MCN shareholders voting on at the August 26, 2026 special meeting?

MCN shareholders are voting on a proposal to approve a new sub-advisory agreement for the Fund. According to the Fund’s Board of Trustees, this agreement is considered in the best interests of the Fund, and the Board recommends shareholders vote “FOR” the proposal.

Who is eligible to vote at the August 26, 2026 MCN special meeting and how can they vote?

Shareholders of record as of the close of business on June 2, 2026 are eligible to vote. According to XA Investments, investors can vote by internet, phone, or mail using their proxy card, with assistance available from Okapi Partners if needed.

How can MCN shareholders vote online, by phone, or by mail for the 2026 special meeting?

Shareholders can vote online using the website and control number on their proxy card, by calling the listed toll-free phone number, or by mailing the signed proxy card. According to XA Investments, Okapi Partners can help if proxy materials are missing or questions arise.

Where can investors find the proxy statement for the MCN sub-advisory agreement vote in 2026?

The proxy statement for the MCN sub-advisory agreement vote is available at https://www.okapivote.com/MCN/. According to XA Investments, shareholders should read this document and accompanying materials carefully before voting on the proposal at the reconvened special meeting.