Akumin Reports the Results of its Annual General and Special Meeting

Rhea-AI Summary

Akumin Inc. (NASDAQ: AKU) held its annual general and special meeting on June 30, 2022, with 52,829,002 shares represented, about 59.0% of outstanding shares. All director nominees were overwhelmingly approved, with Thomas Davies receiving 99.93% support. The appointment of Ernst & Young, LLP as external auditors was also approved. Notably, shareholders authorized a move of incorporation from Ontario, Canada, to Delaware, USA, and a reverse stock split of up to one new share for every four old shares, as detailed in the management proxy circular dated May 17, 2022.

Positive

• Shareholder approval for all director nominees, showing strong confidence in leadership.
• Appointment of Ernst & Young, LLP as external auditors, indicating commitment to financial integrity.
• Authorization for potential consolidation of shares may improve stock performance and investor sentiment.

Negative

• The proposed reverse stock split may lead to perceived dilution of shares.
• Change of incorporation jurisdiction could raise concerns among investors about regulatory environments.

PLANTATION, Fla., June 30, 2022 /PRNewswire/ - Akumin Inc. (NASDAQ: AKU) (TSX: AKU) (the "Company") held its annual general and special meeting of shareholders (the "Meeting") today, June 30, 2022, on a virtual meeting platform. A total 52,829,002 shares, representing approximately 59.0% of shares outstanding, were represented at the Meeting or by proxy at the Meeting.

Further to TSX reporting requirements, the voting in relation to the election of directors was conducted at the Meeting and the results were as follows:

Nominee	Vote For # (%)	Votes Withheld # (%)	Not Voted #
Thomas Davies	50,795,166 (99.93)	35,197 (0.07)	1,998,639
Stanley Dunford	50,795,366 (99.93)	34,997 (0.07)	1,998,639
Haichen Huang	50,549,811 (99.45)	280,552 (0.55)	1,998,639
Murray Lee	49,882,539 (98.14)	947,824 (1.87)	1,998,639
Paul Viviano	50,794,111 (99.93)	36,252 (0.07)	1,998,639
James Webb	50,795,366 (99.93)	34,997 (0.07)	1,998,639
James Wyper	50,794,366 (99.93)	35,997 (0.07)	1,998,639
Riadh Zine-El-Abidine	50,648,811 (99.64)	181,552 (0.36)	1,998,639

 

The appointment of Ernst & Young, LLP, as external auditors, as described in the Company's management proxy circular dated May 17, 2022 (the "Circular"), was duly approved by the requisite number of votes.

In addition, the shareholders passed two special resolutions with the requisite number of votes.  The first special resolution authorizes the Company's board of directors, in its sole discretion, to change the Company's jurisdiction of incorporation from the Province of Ontario, Canada, to the State of Delaware in the United States of America.  The second special resolution authorizes the Company's board of directors, in its sole discretion, to complete a consolidation, or reverse stock split, of all of the shares of the common stock of the Company on the basis of one new common share for up to every four old common shares.  Each such special resolution is more particularly described in the Circular.

About Akumin

Akumin is a national leader in comprehensive outpatient radiology and oncology solutions and a partner of choice for U.S. hospitals, health systems and physician groups.  Akumin provides fixed-site outpatient radiology and oncology services through a network of 234 owned and/or operated centers; as well as outpatient radiology and oncology solutions to approximately 1,000 hospitals and health systems across 48 states.  Akumin combines clinical and operational expertise with the latest advances in technology and information systems to deliver patient-centered innovation, service standardization and exceptional healthcare value to its patients and partners.  For more information, visit www.akumin.com.

View original content:https://www.prnewswire.com/news-releases/akumin-reports-the-results-of-its-annual-general-and-special-meeting-301579122.html

SOURCE Akumin Inc.

FAQ

What were the key outcomes of Akumin's annual meeting on June 30, 2022?

All director nominees were approved, and Ernst & Young, LLP was appointed as external auditors.

What significant resolutions did Akumin shareholders pass in 2022?

Shareholders authorized a change of incorporation to Delaware and a reverse stock split.

How many shares were represented at Akumin's annual meeting?

A total of 52,829,002 shares, approximately 59.0% of outstanding shares, were represented.

Who received the highest approval votes at Akumin's shareholder meeting?

Thomas Davies received 50,795,166 votes, or 99.93% approval.

What is the significance of the reverse stock split for Akumin?

It may enhance stock performance and appeal to investors by reducing the number of outstanding shares.