Proteome Sciences (LSE:PRM) — Annual General Meeting

0:00 Good afternoon, and welcome to the PROTEOME SCIENCES PLC Annual General Meeting Proceedings. Throughout this recorded presentation, meeting attendees will be in listen only mode. Questions are encouraging to be submitted anytime via the q and a tab situated on the right hand corner of your screen. Simply click q and a, scroll to the bottom, type your question, and press send. The company may not be in a position to answer every question submitted today. However, all questions will be reviewed with responses published on the Investor Me company platform where it's appropriate to do so. I'd now like to hand you over to Christopher Pierce, Chairman. Good afternoon, sir. Thank you very much, Paul. Thank you for the introduction. Ladies and gentlemen, thank you for attending our annual general meeting today. For those who don't know me, I'm Christopher Pierce, the chairman, and I shall be chairing the meeting today. I apologize. We're running about two minutes late, but, I don't think it's a a big deal. If I may, I would like to introduce my colleagues on the board who are actually attending the meeting. If I can, on my right for the first time, we have Mario de Sungen, our CEO, coming over to a meeting here, and she's delighted to be meeting shareholders and to be addressing you. To her right is Ursula Ney, one of our nonexecutive directors.

1:07 To my left, Richard Dennis, the chief operate chief commercial officer, correction, and to his left is Ian Pipe, chief scientific officer. And we have basically Martin Diggle, one of our nonexecutive directors, who is actually joining us online as we're speaking. And I have profuse apologies, from one of our other directors, Roger McDowell, who sadly is not able to, join us today, and he sent his apologies. The quorum for this annual general meeting is two members. As there are more than two members present, I declare the meeting open. I will read you a short AGM statement that will be released on RNS. Questions relating to the AGM statement may be asked before moving on to the formal business of the meeting.

1:59 Right. The AGM statement that's being released With continuous business growth and a particularly good performance in our services business, we recorded a small profit and an adjusted EBITDA of 1,350,000 compared naught point $72,000,000 in 2020 for the year ending 12/31/2021. We're able to gain a record number of contracts, including a substantial order in excess of £1,000,000. Also, our TMT revenues remained strong underlying the USP we have in the proteomics field with these reagents. Based on the strategic process we ran in 2021, we decided to add a high value, high demand service to our portfolio, single cell proteomics, and to increase our USP of proprietary tags by developing new innovative reagents.

2:57 The progress over the last three years has created an excellent platform for the further development of the company. Strong order book, cash position, and strategic plan provided basis to grow all aspects of our business in 2022. We started, strategic investments in staff and instruments in 2021 and continue to do so in 2022. The board has increased confidence of profits growth in 2022. That concludes the statement. We now move to the formal part of the meeting. From the proxies received today, totaling 42,000,000 shares, 99.9% of the votes cast are in favor of all the resolutions one to six.

3:52 For this reason, I do not intend to read out the proxy results after each resolution. Unless a poll is demanded, each of the resolutions will be voted on a show of hands. This being the case, can I just remind those present on a show of hands each member and appointed proxy has one vote? The notice convening the meeting has been in your hands for the statutory period. With your permission, I will take the notice as read. Resolution one. The first resolution in the notice is to receive the financial statements and the reports of the directors and auditor for the year ended 12/31/2021. If you will turn to pages 25 to 28 of the financial statements, you'll find the director's report and the auditor's report is on pages 29 to 36.

4:47 With your permission, I will take these reports as read. Before I propose the first resolution formally, are there any questions? There being no questions, I now propose as an ordinary resolution receipt of the financial statements and reports. May I call upon you by a show of hands to indicate first those in support of the resolution?

5:14 Thank you. Those against? Thank you. I now declare the resolution carried. The second resolution is the reappointment of Ian Pike as a director. The second res resolution, the notice concerns his reappointment as a director. He retires in accordance with article 109 b of the company's articles of association, which requires one third of the directors to retire each AGM. Doctor Pike has stated his willingness to continue in an office. Before the resolution is put to the vote, are there any questions? I now propose as an ordinary resolution resolution two as set out in the notice to report Ian Pike as the director.

6:07 May I call upon you by a show of hands to indicate first those in support of the resolution?

6:12 Thank you. Those against? Fine. I now declare that resolution carried, and welcome you back to the Thank you very much. Thank you very much. Resolution three, is basic the reappointment of Martin Diggle. Martin, as we said, is unable to be with us here. He's actually attending the meeting, through the screen, and Martin has basically he retires in accordance with article one zero nine b of the company's articles association, which requires one third of the directors to retire at each AGM. Martin Diggle has stated his willingness to continue in office before the resolution is put to the vote. Are there any questions? Fine.

6:58 I now propose as an ordinary resolution, resolution three, as set out in the notice to reappoint Martin Digger as a director. May I call upon you by a share of hands to indicate first those in support of the resolution? Thank you. Those against, again, unanimous, Martin. I now declare the resolution carried and welcome having you back as the non executive director. Thank you, Christopher. Reappointment to the auditors. The fourth resolution in the notice is to reappoint BDO LLP as the company's orders auditors and to authorize directors to authorize the remuneration. Before the resolution is put to the vote, are there any questions? I now propose as an ordinary resolution the reappointment of BDO LLP as auditors of the company until the conclusion of the next annual general meeting and to authorize the directors to fix their remuneration.

7:57 May I call upon you again by a share of hands to indicate first those in support of the resolution? Thank you. Those against? Again, I now declare the resolution carried. Resolution five is the director's authority to allot shares. Fifth resolution, the notice of the meeting is an ordinary resolution to authorize the directors to allot shares in terms of section five five one of the company's act 2,006 up to the limit as set out in resolution six of the notice. Before the resolution is put to the vote, are there any questions? No, mister chairman. Please do. Reasons why you want that authority? For a small company, we require having the ability to be able to issue shares clearly under a controlled limitation in what we're doing.

8:49 As you know, we have not issued many shares over a long period of time. And, clearly, we are very conscious that we don't want any unnecessary dilution, but at the same time, it gives us an extra flexibility if we should need to go and move fairly quickly. It's for the flexibility? It's the flexibility, and it makes it much easier for us. I now propose as an ordinary resolution, resolution five, as set out in the notice of the meeting. May again, I call upon you by a show of hands to indicate first those in support of the resolution. Thank you. Those against, I now declare the resolution carried. Resolution six is the disapplication of preemption rights.

9:35 The sixth resolution in the notice of the meeting is a special resolution to disapply shareholders' statutory preemption rights in relation to the issue of shares subject to certain defined limits set out in the notice. The full text of the resolution and the applicable limits are set out in resolution six of the notice. I now propose as a special resolution resolution six set out in the notice of the meeting. May I call upon you by a show of hands to indicate first those in support of the resolution? Those against? Thank you very much. I now declare the resolution carried. This now completes the formal business of the meeting. Are there any further questions?

10:26 If there aren't, I would very much like to thank you for attending the AGM. I declare the meeting closed, but clearly, the board, the executives will be here to talk to shareholders and anything we can discuss now. And any further questions that may have been raised over the course of the meeting, we will endeavor, to again look at and come back if appropriate on those. So once again, thank you very much attending our first meeting in several years, and it's very nice to have you here. Thank you all. Paul, I need to hand you back. Fantastic. That's wonderful. That concludes the AGM. Thank you indeed for updating attendees today. Can I please ask attendees not to close the session? It should be automatically redirected to provide your feedback in order the board can better understand your views and expectations.

11:12 This will only take a few moments to complete and is greatly valued by the company. On behalf of the board of PROTEOME SCIENCES PLC, we'd like to thank you for attending today's annual general meeting. That concludes today's session. Thank you. Thank you for setting it up. Thank you.