Sareum (SAR) AGM 2025 summary

Opening remarks and agenda

• Meeting opened with a welcome, confirmation of quorum, and outline of agenda, including formal business, a research update, and Q&A sessions for both in-person and online attendees.

• Board members and their roles were introduced, and the notice of the AGM was confirmed as properly issued.

Financial performance review

• Fixed annual costs estimated at around £900,000, excluding potential new executive hires.

• Company eligible for EIS funding, supporting investment incentives.

• Remuneration benchmarking shows non-executive and executive pay at or below industry medians, with bonuses only awarded for exceptional performance.

• 2024 bonus was 25% of base salary, considered low for the sector, and future bonuses will require exceptional achievement.

Board and executive committee updates

• Board prioritizing recruitment of a Chief Medical Officer over a CEO, with preference for experienced consultants to manage costs.

• Contingency plans in place for key personnel risks, including insurance and consultant support.