IntelGenx Announces Voting Results on Election of Directors

Rhea-AI Summary

IntelGenx Technologies Corp. announces that shareholders voted in favor of all items of business at the annual meeting. The meeting was held virtually and had a majority of shareholders present. The voting results for the election of directors were also provided.

SAINT LAURENT, Quebec, July 06, 2023 (GLOBE NEWSWIRE) -- IntelGenx Technologies Corp. (TSX: IGX) (OTCQB: IGXT) (the “Company” or “IntelGenx”) announces that, at the annual meeting of shareholders of the Company held on May 9, 2023 (the “Annual Meeting”), shareholders voted in favour of all items of business put forth by the Company, including the election of the directors, by a majority of the votes cast by shareholders present or represented by proxy.

The Annual Meeting was held in a virtual-only format, for those who were shareholders of the Company at the close of business on March 13, 2023 (the “Record Date”), pursuant to notice and proxy materials duly communicated to them. As of the Record Date, there were 174,646,197 shares outstanding of the Company’s common stock at $0.00001 par value (the “IntelGenx Common Stock”). Shareholders as of the Record Date holding 106,501,774 shares (60.98%) of the IntelGenx Common Stock were present at the Annual Meeting or per proxy. Each such shareholder was entitled to one vote for each share of the IntelGenx Common Stock held on the Record Date.

At the Annual Meeting, the following matters were submitted to votes of the Company’s shareholders:

(i)	the election of eight directors;
(ii)	the ratification of Richter LLP as the Company’s independent auditors for the fiscal year ending December 31, 2023; and
(iii)	the advisory vote on executive compensation.

Detailed voting results on the election of directors are as follows:

Name of Nominee	For		Against		Abstain
	Number	%	Number	%	Number	%
Horst G. Zerbe, Ph.D.	71,602,807	95.42	2,761,460	3.68	676,418	0.90
J. Bernard Boudreau	72,376,711	96.45	2,491,221	3.32	172,753	0.23
Bernd J. Melchers	72,287,990	96.33	2,377,942	3.17	374,753	0.50
Clemens Mayr	72,446,692	96.54	2,219,240	2.96	374,753	0.50
Mark Nawacki	72,591,001	96.74	2,076,921	2.77	372,763	0.50
Frank Stegert	72,882,192	97.61	1,785,240	2.39	373.253	0.00
Srinivas Rao, Ph.D.	73,069,942	97.37	1,794,490	2.39	176,253	0.23
Monika Trzcinska, Ph.D.	73,225,531	97.58	1,637,901	2.18	177,253	0.24

About IntelGenx

IntelGenx is a leading drug delivery company focused on the development and manufacturing of pharmaceutical films.

IntelGenx’s superior film technologies, including VersaFilm^®, DisinteQ™, VetaFilm^® and transdermal VevaDerm™, allow for next generation pharmaceutical products that address unmet medical needs. IntelGenx’s innovative product pipeline offers significant benefits to patients and physicians for many therapeutic conditions.

IntelGenx’s highly skilled team provides comprehensive pharmaceuticals services to pharmaceutical partners, including R&D, analytical method development, clinical monitoring, IP and regulatory services. IntelGenx’s state-of-the-art manufacturing facility offers full service by providing lab-scale to pilot- and commercial-scale production. For more information, visit www.intelgenx.com.

Forward-Looking Information and Statements

This document may contain forward-looking information about IntelGenx’s operating results and business prospects that involve substantial risks and uncertainties. Statements that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. These statements include, but are not limited to, statements about IntelGenx's plans, objectives, expectations, strategies, intentions or other characterizations of future events or circumstances and are generally identified by the words ”may,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “could,” “would,” and similar expressions. All forward-looking statements are expressly qualified in their entirety by this cautionary statement. Because these forward-looking statements are subject to a number of risks and uncertainties, IntelGenx’s actual results could differ materially from those expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed under the heading “Risk Factors” in IntelGenx’s annual report on Form 10-K, filed with the United States Securities and Exchange Commission and available at www.sec.gov, and also filed with Canadian securities regulatory authorities at www.sedar.com. IntelGenx assumes no obligation to update any such forward-looking statements.

Source: IntelGenx Technologies Corp.

For more information, please contact:

Stephen Kilmer
Investor Relations
(647) 872-4849
stephen@kilmerlucas.com

Or

Ingrid Zerbe
Corporate Secretary
IntelGenx Technologies Corp.
ingrid@intelgenx.com

FAQ

What is the company name that held the annual meeting?

The company that held the annual meeting is IntelGenx Technologies Corp.

When was the annual meeting held?

The annual meeting was held on May 9, 2023.

How was the annual meeting conducted?

The annual meeting was held in a virtual-only format.

What was the record date for the annual meeting?

The record date for the annual meeting was March 13, 2023.

What was the total number of shares outstanding at the record date?

There were 174,646,197 shares outstanding at the record date.

What percentage of shareholders were present at the annual meeting?

60.98% of shareholders holding 106,501,774 shares were present at the annual meeting or per proxy.

What were the matters submitted to votes of the shareholders?

The matters submitted to votes of the shareholders were the election of directors, the ratification of Richter LLP as independent auditors, and the advisory vote on executive compensation.

Who were the nominees for the election of directors?

The nominees for the election of directors were Horst G. Zerbe, Ph.D., J. Bernard Boudreau, Bernd J. Melchers, Clemens Mayr, Mark Nawacki, Frank Stegert, Srinivas Rao, Ph.D., and Monika Trzcinska, Ph.D.

What were the voting results for the election of directors?

The voting results for the election of directors are provided in the press release.

Who was ratified as the independent auditors?

Richter LLP was ratified as the company's independent auditors.

What was the percentage of votes in favor for each nominee for the election of directors?

The press release provides the detailed voting results for each nominee.

What was the percentage of votes against for each nominee for the election of directors?

The press release provides the detailed voting results for each nominee.

Were there any abstentions for the election of directors?

Yes, there were abstentions for the election of directors.

What was the purpose of the advisory vote on executive compensation?

The purpose of the advisory vote on executive compensation was to seek shareholders' input on the company's executive compensation practices.