5 questions lodged at 2026 Imugene (IMU) hybrid EGM
August 20, 2026
Below is the text of the 5 written questions submitted at the 18 minute Imugene (IMU) 9am AEST hybrid EGM in Sydney and via the Automic platform on August 19, 2026 to approve 4 capital raising items. See notice of meeting. Market cap $40.6m on EGM day. The proxies were not disclosed early as no formal addresses were lodged with the ASX. The biggest protest was 12% against the share placement to executive chair Paul Hopper, who was a disappointing no show due to travel commitments. Also, see 4 questions lodged at 2025 AGM.
Q1. Why weren't retail shareholders given a chance to participate in the latest capital raising via a share purchase plan and will you offer one before the November AGM?
Answer: The acting chair, American Jakob Dupont, defended the lack of any SPP after their latest $11m placement on the grounds that the previous two raises did include SPPs which weren't well supported. Fair enough. They have blown up around $400m and investors are fatigued about chasing their losses with raise after raise. Watch video of exchange via Twitter.
Q2. It is good to see executive chair Paul Hopper participating in this latest capital raising. Could he please briefly summarise his history of dealing in our shares. Has he spent more money buying our shares over than years than he has realised from selling them?
Answer: Lodged this before the meeting was told executive chair Paul Hopper was a no show due to travel commitments. They were therefore able to dodge this question asking for his share trading history over the journey which has now cost Imugene shareholders about $400m in total. They promised a subsequent email response which is yet to arrive. Watch video of exchange via Twitter.
Q3. A cash fee of 6% to Bell Potter on this latest $11m placement seems exorbitant. Did we run a limited tender for the role and what is our history with Bell Potter? Did they ask for some form of equity payment as well as this happens in far too many small cap raisings on the ASX with Bell Potter a leading player in this practice? Have we ever paid Bell Potter with equity or has it always been cash?
Answer: The acting chair, American Jakob Dupont, defended the 6% as a market rate and said they always pay Bell Potter in cash. Watch video of exchange via Twitter.
Q4. Why are we still issuing placement shares to Leslie Chong when she recently resigned as CEO? What are the lock up provisions on her equity in the company or is she free to sell the lot at any time?
Answer: After an 11 year run, Imugene CEO Leslie Chong quit for personal reasons in July but this question wasn't really answered. However, executive Darren Keamy did say she's free to sell all her equity whenever she likes. Watch video of exchange via Twitter.
Q5. There were substantial protest votes at last year's AGM. The share price has more than halved since. Have the shareholders voted against any of today's resolutions in substantial numbers again today? Did we have any direct engagement with major shareholders about their concerns before today's meeting?
Answer: Was the only Imugene shareholder asking questions at the 18 minute hybrid EGM but it was a poor effort to ignore this 5th and final question just because it was lodged as a “general question" via the Automic platform. It was still relevant to all 4 resolutions. Turns out the biggest protest was 12% against the share placement to executive chair Paul Hopper. Watch video of meeting close via Twitter.
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