CHICAGO, July  31, 2026  (GLOBE NEWSWIRE) -- XA Investments, LLC, manager of XAI Madison Equity Premium Income Fund (MCN) (the &#34;Fund&#34;) announced it has adjourned the Fund’s Special Meeting of Shareholders (the

MCN Adjourns Special Meeting of Shareholders Until August 26, 2026

MCN Special Meeting Adjourned; Sub-Advisory Vote Rescheduled for Aug 26

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>CHICAGO, July  31, 2026  (GLOBE NEWSWIRE) -- XA Investments, LLC, manager of XAI Madison Equity Premium Income Fund (MCN) (the &amp;#34;Fund&amp;#34;) announced it has adjourned the Fund’s Special Meeting of Shareholders (the</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>XA Investments adjourned MCN&#039;s Special Meeting due to lack of quorum, with a reconvening date set for August 26, 2026. The vote concerns a new sub-advisory agreement for the Fund, which could affect management arrangements and fees. The board urges shareholders to vote FOR the proposal, making the outcome a near-term governance catalyst for MCN.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>MCN special meeting adjourned due to lack of quorum; reconvenes Aug 26, 2026.</li><li>Shareholders of record as of June 2, 2026 eligible to vote on sub-advisory change.</li><li>Board recommends voting FOR; proxy materials emphasize fund&#039;s best interests.</li><li>Voting logistics via internet, phone, or mail; Okapi Partners assisting.</li></ul>
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  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>XAI Madison Equity Premium Income Fund (MCN)</strong>: Subject of the governance vote on a new sub-advisory agreement; near-term price impact possible if terms change.</li><li><strong>XA Investments, LLC (N/A)</strong>: Fund manager; governance outcomes could influence management structure and fees.</li><li><strong>Okapi Partners LLC (N/A)</strong>: Proxy solicitation firm handling voting; facilitator of the process without direct price impact.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>Category fits Corporate Developments; the article covers a fund&#039;s governance event and voting logistics that can influence investor perception and potential fee implications for MCN.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Outcome of the Aug 26 vote on the sub-advisory could affect MCN&#039;s expense structure.</li><li>Adjournment signals governance sensitivity; potential for near-term trading interest around MCN.</li><li>No disclosed terms; investors will watch for any material changes in fees or management.</li><li>Proxy participation dynamics may influence liquidity around the meeting date.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Special Meeting adjourned for MCN due to lack of quorum.</li><li>Meeting reconvenes on Aug 26, 2026 at 8:45 a.m. CT.</li><li>Shareholders of record as of June 2, 2026 eligible to vote.</li><li>Vote concerns a new sub-advisory agreement for the Fund.</li><li>Board recommends voting FOR the proposal.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Approval on Aug 26 could lift MCN in the near term; rejection may weigh on sentiment.</p>
  </section>
</section>


<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p>CHICAGO, July  31, 2026  (GLOBE NEWSWIRE) -- XA Investments, LLC, manager of XAI Madison Equity Premium Income Fund (MCN) (the "Fund") announced it has adjourned the Fund’s Special Meeting of Shareholders (the "Meeting") due to a lack of quorum. Shareholders are urged to please submit their votes on the proposal to approve a new sub-advisory agreement for the Fund as soon as possible. The Meeting will reconvene on Thursday, August 26, 2026, at 8:45 a.m. Central Time, at the offices of XA Investments, LLC at 321 N Clark St #2430, Chicago, Illinois.</p>      <p>Shareholders of record of the Fund as of the close of business on June 2, 2026, are entitled to vote at the Meeting. Whether or not shareholders plan to attend the Meeting, it is important that their shares be represented and voted at the Meeting.</p>      <p><strong><u>How to Vote </u></strong></p>      <p>Use one of the following options to vote:</p>      <ul type="disc"><li><strong>By Internet: </strong>Visit the website listed on your proxy card, enter your control number and follow the simple on-screen instructions.<br></br></li><li><strong>By Phone: </strong>Call the toll-free number listed on your proxy card.<br></br></li><li><strong>By Mail:</strong> Sign and return the proxy card in the enclosed postage-paid envelope.<br></br></li></ul>      <p><strong>If shareholders do not have their proxy card and need assistance voting their shares or if they have any questions, please contact the Fund’s proxy solicitation firm, Okapi Partners LLC, toll-free at (855) 305-0855 or by email at </strong><a href="https://www.globenewswire.com/Tracker?data=BQjVreUuTaNV8u7SVGRPqn5iH65YA5s6ODpKvlqig_fIb4chBnRMXWXzTZUmKgz4F-rNpP2QnO_acPKlXZbRWh_KYUawN-0D_V2isx-HRSA=" rel="nofollow" target="_blank"><strong>XAI@OkapiPartners.com</strong></a><strong>. </strong></p>      <p><strong>The Board of Trustees of the Fund believes the sub-advisory agreement is in the best interests of the Fund and recommends that shareholders vote "FOR" the proposal.</strong></p>      <p>The proxy statement contains important information regarding the vote and shareholders of the Fund are urged to read the proxy statement and accompanying materials carefully. The proxy statement is also available at <a href="https://www.globenewswire.com/Tracker?data=33q7Wut5a0s47UfYhjQN5EWm_vBTFobLIhUisZGlS8ktgWtaBBNYcmHIgYAQ5pXQIZbvdNZL8hTVU5EaRCvG4EfQsYLjqyNa725k38jcnYpfxgNPB_wgmkS1Ru8mriHI" rel="nofollow" target="_blank">https://www.okapivote.com/MCN/</a>.</p>      <p><strong>About XA Investments</strong></p>      <p>XA Investments LLC is a Chicago-based firm founded by XMS Capital Partners in 2016. XAI serves as the investment adviser for two listed closed-end funds and an interval closed-end fund. In addition to investment advisory services, the firm also provides investment fund structuring and consulting services focused on registered closed-end funds to meet institutional client needs. XAI offers custom product build and consulting services, including product development and market research, marketing and fund management. XAI believes that the investing public can benefit from new vehicles to access a broad range of alternative investment strategies and managers. For more information, please visit <a href="https://www.globenewswire.com/Tracker?data=uhvxGE_ANx6SuWd1zGUvdC1YADw9598bHa95iXGdINX9_NVWFHa6q4tY4rVkDpxtDivCb6Q5rdhg4TBSmg8chNRoUO5Y2CzE33m4qh1k0wY=" rel="nofollow" target="_blank">www.xainvestments.com</a>.</p>      <p>This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.</p>   <table align="center" style="border-collapse: collapse; width:100%; border-collapse:collapse ;"><tr><td style="text-align: center ;  vertical-align: middle; vertical-align: top ; ">NOT FDIC INSURED</td><td style="text-align: center ;  vertical-align: middle; vertical-align: bottom ; ">NO BANK GUARANTEE</td><td style="text-align: center ;  vertical-align: middle; vertical-align: bottom ; ">MAY LOSE VALUE</td></tr><tr><td style="vertical-align: middle ; "> </td><td style="vertical-align: middle ; "> </td><td style="vertical-align: middle ; "> </td></tr></table>   <p><strong>Media Contact: </strong><br></br>Kimberly Flynn, President<br></br>XA Investments LLC<br></br>Phone: 888-903-3358<br></br>Email: <a href="https://www.globenewswire.com/Tracker?data=d49RO4GUJiYfoN7U92dNsaES7ObCUg9iNsmSj1cNUU7uQiTGTROKfyGrV3_FRhS696b3zuVhOhYpo75hsCnG0vyNKSgPSGy75zNNmIbu-R9OAC9xkCSngOpGIwduXM0S1v28sdGiIWtG9dFNCV9V0HshqZYRNBJ4zJStJ0LdlX_Qmt6N4ReMhbGwDvIaygi7SttPyYX97Y6Nf0B0y8LtH1uGkfxrwtJJchS17TLDi7Vxrj9kzom4Ckj3l-tTitsE3SrHHLnivDnEQzzFb8lwn8e71yzIPVJkxIl9EGB6V2I=" rel="nofollow" target="_blank">KFlynn@XAInvestments.com</a><br></br><a href="https://www.globenewswire.com/Tracker?data=uhvxGE_ANx6SuWd1zGUvdC1YADw9598bHa95iXGdINVLyKUtLm-tKlN-PDusheg68a-UF-xPLJiiYSZ1TEndTayAn9EyWUr37zkNx3U6UvPj_sLLs45QI0WGqGMcb4DMhVrZVzQbYTkcX-LFq8iPtPxA5_Oc21SK1P3NLULYsz4qHHsIyMSiScyh21jkMIsiNY5HoaDvrTx1-xxMV1y-gBLxUmCl8TUHnOm5yK-ut2AMF9WI3kmPD6-7IP-dwxj1c-2JF3uKtEKSP-BA3OD0SQ==" rel="nofollow" target="_blank">www.xainvestments.com</a></p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTgwMTYwNiM3NzUyNzkyIzUwMDEzMzQ5OQ=="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/MzI1ZmExNDktNGE5OC00MDI0LTllMDYtZjI2YTg4MWY2MGRiLTUwMDEzMzQ5OS0yMDI2LTA3LTMxLWVu/tiny/XAI-Madison-Equity-Premium-Inc.png" referrerpolicy="no-referrer-when-downgrade"></img><p><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/2621ea0f-b0c4-4df9-be5b-92eda8f7e70d"><img src="https://ml.globenewswire.com/media/2621ea0f-b0c4-4df9-be5b-92eda8f7e70d/small/image2-png.png" border="0" width="150" height="51" alt="Primary Logo"></img></a></p>

XA Investments adjourned MCN's Special Meeting due to lack of quorum, with a reconvening date set for August 26, 2026. The vote concerns a new sub-advisory agreement for the Fund, which could affect management arrangements and fees. The board urges shareholders to vote FOR the proposal, making the outcome a near-term governance catalyst for MCN.

News insight

MCN Adjourns Special Meeting of Shareholders Until August 26, 2026

AI summary

Sentiment rationale

Key facts

Corporate Developments