Ann: FEX: Fenix Bidder's Statement, page-42

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readyaimfire

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26/02/25

14:20

Post #: 78036258
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Originally posted by Alejandro1 ↑

I will also note that 3 top men at FEX have a combined shareholding of 90M shares in FEX not including performance rights, which add up to 30M. After the proposed equity acquisition of CZR, their interest will be about 10% of SOI. CFO has 380K ordinary shares but 2.2M performance rights. I think this is good since you want the financial guys interest to be aligned with the financial performance of the company. This depends on the vesting conditions of said rights. I will note that their share-based payments are equal to cash payments.

This to me is a strong signal of alignment and probable cause of recent strong performance and shareholder return at FEX over the last few years. Addition of Creasy to the executive board with this interest in Robe would strengthen FEX overall, if they don't clash heads.

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Giving performance and such rights DOES NOT align management interests with other shareholders interests. THERE is no downside risk for management. Performance rights are one of the great fallacies of listed entities.

CZR Price at posting: 26.5¢ Sentiment: None Disclosure: Held
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(20min delay)
Last 22.5¢		Change -0.015(6.25%)		Mkt cap ! $53.26M

Open	High	Low	Value	Volume
24.0¢	24.0¢	22.5¢	$744	3.209K

Buyers (Bids)

No.	Vol.	Price($)
3	19278	22.5¢

Sellers (Offers)

Price($)	Vol.	No.
23.0¢	8497	1

View Market Depth

No.	Vol.	Price($)
3	19278	0.225
2	8000	0.220
1	13068	0.205
1	5000	0.200
1	4000	0.175

Price($)	Vol.	No.
0.230	8497	1
0.240	39846	2
0.245	50000	1
0.250	54428	3
0.255	40000	1

Last trade - 11.25am 16/06/2025 (20 minute delay)

CZR (ASX) Chart

Ann: FEX: Fenix Bidder's Statement, page-42

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