Voting Outcome at Profound Medical's Annual Meeting Revealed
Voting Results from Profound Medical's Annual Meeting
Profound Medical Corp. (TSX: PRN; NASDAQ: PROF) has shared the results of its recent Annual General and Special Meeting of Shareholders. During this important event, the company welcomed shareholders and provided insights into its future direction and governance.
At this meeting, an impressive total of 20,587,011 common shares were represented, which constitutes 68.5% of the company’s outstanding shares. This level of participation signifies a solid commitment from shareholders regarding the decisions on various matters as outlined in the management information circular.
Director Elections at the Meeting
A major highlight of the meeting was the election of the Board of Directors. Shareholders voted to elect all six nominees, ensuring a strong leadership team is in place as Profound Medical continues its growth. The following are the voting results for each nominee:
- Arun Menawat: 11,147,209 votes (94.536% in favor)
- Brian Ellacott: 11,048,084 votes (93.695% in favor)
- Cynthia Lavoie: 11,438,299 votes (97.005% in favor)
- Murielle Lortie: 11,291,509 votes (95.760% in favor)
- Arthur Rosenthal: 10,899,784 votes (92.438% in favor)
- Kris Shah: 11,040,268 votes (93.629% in favor)
The overwhelming approval illustrates shareholders’ confidence in these directors, who are set to guide Profound Medical through its innovative advancements in the medical device sector.
Additional Matters Approved by Shareholders
In addition to the board election, shareholders also approved the appointment of PricewaterhouseCoopers LLP as the company's auditor until the next annual meeting. This appointment reflects a strong endorsement of the firm's capabilities and integrity in overseeing Profound Medical’s financial practices.
Moreover, an ordinary resolution supporting all unallocated options under the company’s share option plan was also approved. Such approvals empower the company to maintain a competitive edge in attracting and retaining top talent.
About Profound Medical
Profound Medical is a pioneering medical device company dedicated to developing advanced, incision-free therapies for targeting and treating diseased tissue. Central to its offerings is the TULSA-PRO® technology, which uniquely integrates real-time MRI guidance, AI-driven planning, and innovative thermal ablation techniques. This approach not only enhances precision but also significantly contributes to preserving patient quality of life by minimizing collateral damage during treatment.
The TULSA-PRO® system has emerged as a novel treatment for various prostate conditions, including prostate cancer and benign prostatic hyperplasia (BPH). Unlike traditional methods, TULSA is a non-invasive procedure that can be performed in a single session, ensuring quicker recovery times and significantly reducing the need for hospitalization.
Furthermore, the company is marketing Sonalleve®, a cutting-edge platform for treating uterine fibroids and providing palliative care for patients with bone metastases. The versatility of Sonalleve® exhibits Profound’s commitment to expanding its reach into new therapeutic areas, thereby addressing diverse patient needs across medical landscapes.
Frequently Asked Questions
What were the key outcomes of the meeting?
The meeting resulted in the successful election of all six board nominees and the appointment of PricewaterhouseCoopers LLP as the auditor.
How many shares were represented at the meeting?
A total of 20,587,011 common shares were represented, accounting for 68.5% of the outstanding shares.
What technologies does Profound Medical develop?
Profound Medical focuses on incision-free therapies like TULSA-PRO® and Sonalleve®, which target diseased tissues minimally invasively.
What is the significance of the TULSA-PRO® procedure?
TULSA-PRO® provides a non-invasive treatment option with real-time MRI guidance and minimal recovery time, enhancing patient outcomes.
Who can benefit from the Sonalleve® treatment?
Patients suffering from uterine fibroids or bone metastases can benefit from the non-invasive approach of the Sonalleve® technology.
About The Author
Contact Addison Perry privately here. Or send an email with ATTN: Addison Perry as the subject to contact@investorshangout.com.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.