Recce Pharmaceuticals (RCE) AGM 2024 summary

Opening remarks and agenda

• Meeting opened at 1:30 P.M. in Sydney with a quorum present, introductions of board, executives, CFO, auditor, and company secretary, and virtual participation enabled for shareholders.

• CEO James Graham delivered the main presentation, outlining progress and future direction.

• Instructions provided for online participation, question submission, and voting procedures, with emphasis on moderation and amalgamation of questions for efficiency.

• Agenda included CEO's presentation on achievements and trading update, followed by Q&A and formal business resolutions.

Financial performance review

• Market capitalization reported at AUD 105 million, with a share price of AUD 0.45 and cash at bank of AUD 6.33 million.

• Top 20 shareholders hold about 50% of shares, reflecting increased support since the last AGM.

• Australian government awarded AUD 54.95 million R&D guarantee, supporting global research activities and extending cash runway.

• Proprietary anti-infectives portfolio addresses large markets: DFI ($5.2B), sepsis ($4.6B), and broader anti-infectives ($136.9B).

Board and executive committee updates

• Board includes Dr John Prendergast (Chairman), James Graham (CEO), Dr Alan Dunton, Michele Dilizia, Dr Justin Ward, and Alistair McKeough.

• Board and executive team introduced, highlighting expertise in pharmaceuticals, research, commercialization, regulatory affairs, and quality control.

• Notable personal investments by executives and ongoing commitment to company growth.