3 questions lodged at 2025 Recce Pharmaceuticals hybrid AGM
November 5, 2025
Below is the text of the 3 written questions submitted at the Recce Pharmaceuticals (RCE) 9.30am hybrid AGM at the Automic Sydney office and using the Automic online platform on November 5, 2025. Market cap $120m on AGM day after a flat year. See notice of meeting and voting results. The proxies were not disclosed early in these formal addresses. Cripes, there was a huge 80%+ rem strike at Recce Pharmaceuticals AGM today, plus 25% against chair's re-election. And the issue that really mattered: two placement capacity resolutions were narrowly defeated. The shareholders are revolving!
Q1. How many full time equivalent staff do we currently have and is this likely to fall over the coming 12 months with the rapid roll out of AI? Which parts of our business and operations are the most prospective for AI productivity gains and how energetically are we embracing those opportunities?
Answer: The chair... Watch video of exchange via Twitter.
Q2. Did any of the proxy advisers issue a report ahead of this AGM and were there any material protest votes on any of today's resolutions, including this remuneration report item? If so, what reasons did the give? Also, thank you for offering a best practice hybrid AGM but could you please disclose the proxy votes to the ASX along with the formal addresses next year so I don't have to ask questions like this one and we can have a more fully informed debate.
Answer: The chair... Watch video of exchange via Twitter.
Q3. There are often big protest votes against resolutions like this because it is not good practice to selectively place up to 25% of the company's shares to anyone you like over a 12 month period, diluting existing shareholders without compensation for lost property rights. What is our history of doing placements, why are we asking for this authority and has there been a protest vote? Placements favour big end of town investors at the expense of your 4500 retail holders. Will you commit to doing an SPP next time you do a placement?
Answer: The chair... Watch video of exchange via Twitter.
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