TruScreen Group (TRU) AGM 2025 summary

Opening remarks and agenda

• Board members and key executives introduced, including new and outgoing directors.

• Hybrid meeting format adopted to comply with stock exchange requirements, allowing both in-person and online participation.

• Quorum confirmed and notice of meeting distributed in compliance with extended 28-day notice for enhanced governance.

• Agenda included board presentations, six shareholder resolutions, and a consolidated Q&A session at the end.

• Meeting covered FY2025 highlights, key market activities, FY2026 strategy, revenue outlook, and team updates.

Financial performance review

• FY25 sales were NZ$1.7m, down from NZ$2.1m in FY24, mainly due to program delays in Zimbabwe, Vietnam, Indonesia, and Uzbekistan.

• Total FY25 revenue was NZ$2.1m, with EBITDA at -NZ$2.2m and a net loss of -NZ$2.2m.

• Cash at year-end was NZ$0.4m, with net assets of NZ$1.0m.

• FY26 sales are forecast to exceed NZ$2.8m, with expected monthly cash flow positivity by March 2026.

• Capital raise of NZD 4 million completed, oversubscribed with strong support from Asian investors.

Board and executive committee updates

• Juliette Hull resigned after five years; Christine Pears nominated as incoming director for her distribution expertise.

• Tony Ho re-elected as Independent Non-Executive Chairman.

• Board includes experienced professionals in finance, healthcare, and medical device engineering.

• Executive team led by CEO Martin Dillon, with expertise in global commercial operations, finance, and medical affairs.

• Hall Chadwick, New Zealand, formally appointed as new auditors.