Telesat announces results of 2026 Annual General Meeting of shareholders
Rhea-AI Summary
Telesat (Nasdaq/TSX: TSAT) released the voting results of its 2026 annual general meeting held virtually on June 3, 2026. Shareholders approved all items of business, including appointing Deloitte LLP as auditors and electing all ten director nominees, each receiving over 46 million votes in favour.
Positive
- None.
Negative
- None.
News Market Reaction – TSAT
In the Jun 5 session, TSAT declined 18.97%, reflecting a significant negative market reaction. Argus tracked a peak move of +11.7% during that session. Argus tracked a trough of -10.9% from its starting point during tracking. Our momentum scanner triggered 78 alerts that day, indicating high trading interest and price volatility. Trading volume was very high at 3.1x the daily average, suggesting heavy selling pressure.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 05 | Q1 2026 earnings | Negative | -1.7% | Revenue and EBITDA declines with sizeable net loss and Lightspeed spending. |
| Apr 21 | Earnings call scheduling | Neutral | -4.1% | Announcement of timing and access details for Q1 2026 call. |
| Apr 02 | Lightspeed contract win | Positive | +15.6% | Multi-year Lightspeed deal with Northwestel for Northern Canada broadband. |
| Mar 17 | 2025 results update | Negative | +19.3% | Full-year revenue and EBITDA declines with continued heavy Lightspeed capex. |
| Mar 17 | Mil-Ka enhancement | Positive | +19.3% | Addition of 500 MHz Mil‑Ka capacity to initial 156 Lightspeed satellites. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent news has produced mixed reactions: weak earnings often led to declines, while Lightspeed-related strategic wins drew strong gains. There are both aligned and divergent moves, indicating investors react sharply to capital structure and LEO progress, not just headline direction.
Over the past six months, Telesat has balanced heavy investment in its Lightspeed LEO program with pressure in its GEO business. Earnings releases on Mar 17, 2026 and May 5, 2026 highlighted revenue declines and sizable net losses, and the stock reacted negatively once and positively once. In contrast, contract wins and Mil‑Ka enhancements for Lightspeed on Mar 17 and Apr 2, 2026 drove gains of 15.62% and 19.27%. Today’s AGM voting results fit into this governance and capital-structure backdrop rather than shifting fundamentals.
Key Terms
chartered professional accountants financial
sedar+ regulatory
edgar regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
OTTAWA, Ontario, June 04, 2026 (GLOBE NEWSWIRE) -- Telesat Corporation (Nasdaq and TSX: TSAT) (“Telesat” or the “Company”), one of the world’s largest and most innovative satellite operators, today announced the voting results from its annual general meeting of shareholders held on June 3rd virtually via live audio webcast.
Shareholders of Telesat voted in favour of all items of business, including the appointment of Deloitte LLP Chartered Professional Accountants as auditors of the Company and the election of each of the director nominees as follows:
| Director Nominee | Votes For | Votes Withheld | |
| (a) | Michael Boychuk | 47,065,688 | 378,951 |
| (b) | Jane Craighead | 46,234,918 | 1,209,721 |
| (c) | Richard Fadden | 47,326,278 | 112,361 |
| (d) | Daniel S. Goldberg | 47,325,708 | 118,931 |
| (e) | Henry (Hank) Intven | 46,632,946 | 811,693 |
| (f) | David Morin | 47,121,302 | 323,337 |
| (g) | Dr. Mark H. Rachesky | 46,122,864 | 1,321,775 |
| (h) | Guthrie Stewart | 46,230,246 | 1,214,393 |
| (i) | Michael B. Targoff | 47,326,802 | 117,837 |
| (j) | Janet Yeung | 47,325,092 | 119,547 |
Final voting results on all matters voted on at the meeting will be filed on SEDAR+ at https://www.sedarplus.ca/ and on EDGAR at https://www.sec.gov/.
About Telesat
Backed by a legacy of engineering excellence, reliability and industry-leading customer service, Telesat (Nasdaq and TSX: TSAT) is one of the largest and most innovative global satellite operators. Telesat works collaboratively with its customers to deliver critical connectivity solutions that tackle the world’s most complex communications challenges, providing powerful advantages that improve their operations and drive profitable growth.
Continuously innovating to meet the connectivity demands of the future, Telesat Lightspeed, the company’s Low Earth Orbit (LEO) satellite network, has been optimized to meet the rigorous requirements of telecom, government, maritime and aeronautical customers. Telesat Lightspeed will redefine global satellite connectivity with ubiquitous, affordable, high-capacity, secure and resilient links with fibre-like speeds. For updates on Telesat, follow us on LinkedIn, X, or visit www.telesat.com.
Investor Relations contact:
James Ratcliffe
+1 613 748 8424
ir@telesat.com
