4 questions lodged at 2025 Finder Energy virtual AGM
November 17, 2025
Below is the text of the 4 written questions submitted at the 42 minute Finder Energy (FDR) 2pm Perth time virtual AGM via the Automic platform. Stock has soared to market cap of $189m by AGM day as its Timor Sea oil aspirations progress well. See notice of meeting and voting results. The proxies were disclosed early in the formal addresses. Only has 751 shareholders and Longreach Capital is the major shareholder with 51%. It founded the business 25 years ago and floated the company in 2022.
Q1. Who are the main people we deal with at Longreach Capital, what is their history with the company and what do we know about their intentions to remain the controlling shareholder in the short term? Are the chair and CEO confident the shareholding situation will be similar at next year's AGM?
Answer: The chair Bronwyn Barnes scoffed a bit as if to suggest she couldn't possibly speculate on how the register would look in 12 months but then CEO Damon Neaves came through with some useful history including that Longreach Capital was a private company which founded Finder 25 years ago before floating it in 2022. It has participate in both capital raisings post-float, never selling a single share. Great answer. Watch video of exchange via Twitter.
Q2. There are often substantial 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 they like, 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? Have we ever done a placement without an SPP for retail shareholders?
Answer: The chair Bronwyn Barnes threw to CEO Damon Neaves who provided some good history including that they have done two capital raisings, one was a standalone placement and the other was a pro-rata offer where they ended up placing the shortfall. No SPP but at least retail were included in the pro-rata offer. Watch video of exchange via Twitter.
Q3. What is the CEO's history in terms of past vesting of incentive grants?
Answer: The chair Bronwyn Barnes was leaning towards the old “look it up yourself” response then good on Damon Neaves for stepping up with useful detail including that some of his IPO incentives had vested but there are others on foot linked to things the time he spends running the company. He's an impressive guy with an exciting new Timor Sea oil field to bring on. Watch video of exchange via Twitter.
Q4. Will you disclose the headcount data in the poll results revealing how many shareholders voted for & against so today's outcome is not just dominated by Longreach & retail shareholders who bothered to vote will be able to see where they sat relative to other retail shareholders. Many companies, including ASX, Qantas, Myer & Computershare already do this voluntarily.
Answer: The chair Bronwyn Barnes rejected the suggestion as if it was only a big company thing and then confused shares with shareholders in her response. But let's see if share registry provider Automic deliver the data. It should be their standard recommendation. Watch video of exchange via Twitter.
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