Racura Oncology (RAC) AGM 2024 summary

Opening remarks and agenda

• Meeting opened with confirmation of quorum and proper constitution, followed by introductions of the board, management, and auditor, with the Executive Chair welcoming shareholders and highlighting FY24 progress and RC220 focus.

• Agenda included the chair's address, formal business, and a CEO presentation.

Financial performance review

• Financial report for the year ended 30 June 2024 was presented, with the auditor available for questions.

• Cash at bank as of 30 September 2024 was $14.62m, with no debt and a market capitalisation of $251.88m as of 22 November 2024.

• $5m was raised via a bonus option issue in June 2024, with potential for an additional $25m from piggyback options by May 2026.

• Share price recovered from below AUD 0.70 to around AUD 1.50, with prudent capital management and successful capital raise.

Board and executive committee updates

• Board renewal included retirement of Mary Harney and Phil Lynch, appointment of Peter Smith as Executive Chair, and Dr. Serge Scrofani joining as Non-Executive Director.

• Dr. Daniel Tillett became CEO and Managing Director, reflecting his integral role.

• Strengthened scientific and clinical advisory boards with notable appointments, including Associate Professor Erin Howden and Professor Daniel Von Hoff.