Quipt Home Medical enters cooperation agreement with Kanen Wealth Management

Quipt Home Medical (QIPT) has entered into a cooperation agreement with David Kanen, Philotimo Fund and Kanen Wealth Management, under which Kanen has agreed to withdraw its notice of its intent to solicit proxies in support of four director candidates at the Company’s upcoming 2025 annual general meeting of shareholders in opposition to the director candidates recommended by the Company. As part of the Agreement, the Company’s Board of Directors has granted Kanen certain Board access rights for as long as Kanen maintains aggregate beneficial ownership of at least 3.5% of the Company’s outstanding shares. These access rights include the right to request and conduct quarterly discussions with either the Chairman of the Board or another non-executive director designee of the Board. Under the Agreement, the Company agreed to establish a new committee of the Board to review and provide analysis and non-binding recommendations to the Board pertaining to Kanen’s previously communicated recommendations related to corporate governance and other areas related to the Company’s operations. Pursuant to the Agreement, Kanen has also agreed to a customary standstill, a voting commitment and other provisions.