IntelGenx Announces Voting Results on Election of Directors

Rhea-AI Summary

IntelGenx Technologies Corp. announced the voting results on the election of directors at their annual meeting, where shareholders voted in favor of all items of business. The meeting was held virtually, with the majority of votes cast in favor of the directors. Detailed results showed the election of eight directors and ratification of the independent auditors for the fiscal year 2024. Shareholders holding 62.79% of the common stock were present at the meeting.

SAINT LAURENT, Quebec, May 08, 2024 (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 7, 2024 (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 11, 2024 (the “Record Date”), pursuant to notice and proxy materials duly communicated to them. As of the Record Date, there were 174,658,096 shares outstanding of the Company’s common stock at $0.00001 par value (the “IntelGenx Common Stock”). Shareholders as of the Record Date holding 109,675,659 shares (62,794%) 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, 2024;
	(iii)	the advisory vote on executive compensation; and
	(iv)	the passing of a resolution to approve all unallocated PRSUs.

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.	75,711,268	96.96	1,982,893	2.54	388,516	0.50
Bernd J. Melchers	75,750,832	97.01	1,437,429	1.84	894,416	1.15
Clemens Mayr	76,121,283	97.49	1,469,578	1.88	491,816	0.63
Mark Nawacki	76,244,152	97.65	1,359,609	1.74	478,916	0.61
Monika Trzcinska, Ph.D.	76,447,263	97.91	1,157,118	1.48	478.296	0.61
Sahil Kirpekar, Ph.D.	76,298,523	97.71	1,255,347	1.61	528,807	0.68
Ryan Barrett.	76,142,943	97.52	1,378,427	1.76	561,307	0.72
Dwight Gorham	75,922,577	97.23	1,611,018	2.06	549,082	0.70

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.sedarplus.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
(514) 331-7440 ext 232
stephen@intelgenx.com

Or

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

FAQ

What was the outcome of the voting on the election of directors at IntelGenx's annual meeting?

Shareholders voted in favor of all items of business, including the election of eight directors.

How many shares were outstanding at the Record Date for IntelGenx?

There were 174,658,096 shares outstanding of the Company's common stock at $0.00001 par value.

What percentage of shareholders holding IntelGenx Common Stock were present at the Annual Meeting?

62.79% of shareholders holding IntelGenx Common Stock were present at the Annual Meeting.

Who were some of the directors elected at the annual meeting?

Some of the directors elected were Horst G. Zerbe, Bernd J. Melchers, Clemens Mayr, Mark Nawacki, Monika Trzcinska, Sahil Kirpekar, Ryan Barrett, and Dwight Gorham.

What were some of the items voted on at the Annual Meeting?

Some of the items voted on were the ratification of Richter LLP as the Company's independent auditors, advisory vote on executive compensation, and passing a resolution to approve all unallocated PRSUs.