4 questions lodged at 2025 Fluence virtual AGM
May 28, 2025
Below is the text of the 4 written questions submitted at the Fluence Corp (FLC) virtual AGM at 10am Melbourne time on May 28, 2025 via this Zoom/Vistra link. See notice of meeting. Dropped a $9.5m last day loss which lifted accumulated losses to $224.4m. Net assets are $3.2m and the market cap is $107m.
Q1. I'm a relatively new shareholder. Could the chair or CEO please provide a quick summary of how we wracked up $224.4 million in accumulated losses. What mistakes do they believe were made over the journey?
Q2. This is the third virtual AGM I've been to this week where the company has said they are based at 100 Albert Rd. What is so special about 100 Albert Rd and why is our physical headquarters there? Could shareholders be invited there for a hybrid meeting, rather than this less accountable virtual AGM format?
Q3. Is this AGM being recorded and will be a copy of the recording be made available on our website for the benefit of shareholders who weren't able to participate live?
Q4. It is not good practice to allow a board to selectively place up to 25% of the company's shares to anyone they like over a 12 month period, diluting the existing shareholders without compensation for their lost property rights. What is our history of doing selective placements, why are we asking for this authority and has there been a substantial protest vote against this resolution? Placements favour big end of town investors at the expense of retail and even when retail are offered an SPP, the mast majority don't participate. The biggest victim in Australia's anything goes capital raising system is the retail shareholder who doesn't open the mail or email so please take this into account and do a pro-rata renounceable offer next time we do a capital raising?
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