3 questions lodged at 2025 Finder Energy hybrid AGM
August 20, 2025
Below is the text of the 3 written questions submitted at the 20 minute Finder Energy (FDR) virtual EGM held via Automic/Zoom at 2pm Perth time on August 20, 2025 to approve 2 share issue resolutions. See notice of meeting. Market cap $31.2m on EGM day. No early disclosure of the proxies and there were no protest votes. Gave them a pat on the back at the end for running a good meeting.
Q1 on Resolution 1: Controlling shareholder Longreach wasn't able to vote on this resolution. What sort of proxy solicitation campaign did we run to get out the vote and how many of our circa 600 shareholders actually voted by proxy on this resolution? What proportion of the register did this represent and are you happy with the level of shareholder voting participation achieved?
Answer: Watch video of exchange via Twitter, plus this additional detailed response from CEO Damon Neaves who probably took it a little too seriously given the overwhelming support.
Q2. on Resolution 2: Why didn't you offer your circa 600 retail shareholders a chance to participate on the same terms as the big end of town investors in the recent $6 million placement through a share purchase plan? Will the chair commit to arranging a board discussion about the possibility of launching a make-good SPP for retail investors ahead of the upcoming AGM? It is unfair to dilute and disrespect your retail shareholders like this.
Answer: The chair Brownyn Barnes partly read a scripted response but also made some reasonable points on the fly about issues with past raisings. Watch video of exchange via Twitter.
Q3. Why was there a 6% fee to JP Equity Holdings on tranche 1 and a 2% fee on tranche 2? Who owns JP Equity Holdings, was this job put out to competitive tender, how much did we pay in total for the $6 million raise and does the chair believe this represents good value?
Answer: The CEO Damon Neaves said JP Equities had been with them since the IPO and the fees were pretty standard at the small end of the market. Watch video of exchange via Twitter, plus these additional comments providing useful colour on how these small capital raisings work. The chair Brownyn Barnes then weighed in pointing out that JP Equities supported them when they were getting blackballed by others for being a fossil fuels company.
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