Investor Relations Program

Introduction

The key objectives and achievements of Investor Relations over the past five years are summarised below:

Approach

Investor Relations maintains open and interactive communications with shareholders. We are focused on assisting existing and potential shareholders and other stakeholders such as analysts, investment banks, financial planners, wealth managers and brokers, to understand the Company’s history, performance, strategy, business model, and progress towards key objectives. The vision of a diversified and sustainable biopharmaceutical group and the progress being made in product and clinical programs are central to our message.

Review of FY2024

The Investor Relations team conducted a wide variety of activities during FY2024, engaging a broader stakeholder group than ever before. In additional to presentations and participation at global investment conferences, the team hosted non-deal roadshows (NDRs) around these conferences, following the release of the Company’s half year and full year financial results, after the Annual General Meeting, and at other times in conjunction with our program of Investor Briefings. Webinars were also held on financial results with periodic webcasts on key issues, such as the Managing Director’s webcast on the share buy-back initiated in March 2024.
 
A number of new institutional shareholders entered the register during the year. They provided feedback that they were attracted by the Company’s record of revenues, profitability and build-up of cash reserves. They also value the pipeline of opportunities and overall, see CLINUVEL as good value in the current market. Existing institutional shareholders have also stepped-up their holding in CLINUVEL and some have done so after interacting with us at conferences and NDRs.
 
It was a successful year to increase the number of independent research analysts of CLINUVEL from four to a record high of seven. An eighth German research analyst was added after the reporting date. We now reach more investors across institutional and retail segments than ever before.
 
A major event for the year was the Capital Markets Briefing, held in Sydney in May. Professor Rosenfeld commenced the briefing with a Chair’s address, followed by several executives on the distribution of SCENESSE® and progress of clinical programs, including vitiligo. It was beneficial for the analysts and institutions who attended to hear from CLINUVEL’s executives on the depth of the product development and clinical pipeline. We appreciated the suggestions of analysts as we formed the agenda for the briefing and their engagement on the day. Webcasts on key presentations were issued following the event to communicate the briefing to a wider audience.
 
Investor Briefings are a non-traditional investor relations event in which CLINUVEL Executives brief multiple audiences on the Company. These briefings are delivered to a variety of audiences, including existing and potential institutional, family office and high net worth shareholders, analysts, bankers and brokers, advocates and influencers.
 
Two investor briefings stood out in FY2024:
  • the introduction of CLINUVEL to an audience of influencers and potential investors at the residence of Ms Stefani Germanotta (Lady Gaga) and Mr Michael Polansky in Malibu in the USA in February. This event facilitated a wider social media audience for our PhotoCosmetic products.
  • the investor briefing in Düsseldorf in March where attendees heard from EPP patients and doctors on the benefits of SCENESSE® treatment and provided encouraging feedback on CLINUVEL’s strategy and progress.
Also noteworthy is the NDR held in Germany and Switzerland in March which resulted in over 25 meetings with new potential investors across the institutional, family office and high net worth individual segments who continue to be engaged.
Objective Achievement
Increase institutional shareholding Increased from 25% March 2019 to 35% June 2024
Maintain diversity of geographical ownership Achieved: June 2024 holdings as % of issued capital:
  • Europe, 36%
  • Australia, 34%
  • USA, 28%
  • Other, 2%
Increase research analyst coverage Increased from one (in June 2019) to seven (in June 2024), with an eighth added post reporting date
Improve range, depth of communications and audiences Communications span conference presentations, non-deal roadshows, one-on-one and group meetings, investor briefings, webcasts and webinars, company communiqués, announcements and videos, and social media
Increase participation and votes at Annual General Meeting Nearly 10 million additional shares voted:
  • 29.8% of issued capital November 2018
  • 47.8% of issued capital October 2023

Expansion of the Investor Relations team

CLINUVEL’s Investor Relations team was formed in January 2019 with the appointment of Mr Malcolm Bull. Working closely with Dr Wolgen, Mr Hay and Mr Keamy, he has driven the achievements of the past five years.

Given the diversity of share ownership in key regions of the world, the Investor Relations team is expanding.

Mr Myles Clouston joined the Company in April 2024 to head investor relations in the United States. This is an important region for the Company given its activities are building through the distribution of SCENESSE® for EPP and the Phase III clinical studies needed to extend the use of SCENESSE® to the treatment of vitiligo. Based in New York, Mr Clouston is well positioned to extend and develop new relationships with institutional investors, investment banks, and analysts.
 
CLINUVEL’s highest concentration of shareholders is in Europe and the intention is to appoint a new European-based investor relations professional to support Mr Bull to maintain existing and gain new shareholder relationships, particularly in German speaking countries. We have also engaged investor relations consultants to assist us to build relationships with new potential investors in Europe.

Plans FY2025

The key objective in FY2025 is to tell our story to more shareholders and potential investors with a specific focus on institutional investors. Investor Relations will continue to be active on the ground in key geographic regions and communicate with stakeholders through a wide range of channels.

The first NDR of FY2025 will be on the results for FY2024 which will be conducted in Melbourne and Sydney (29-30 August) and then Switzerland and Germany (2-6 September). Another NDR is planned in Europe in March/ April 2025.

We will also work to enhance relationships with the custodians who hold shares on behalf of beneficial shareholders and encourage both new and ongoing analyst coverage
of CLINUVEL.
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