FGR

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Ann: Notice of Annual General Meeting/Proxy Form, page-10

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BlackBeak

405 Posts.

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25/10/21

18:52

Post #: 57058227
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Originally posted by spid81: ↑

IMO, I think we all should vote against the bonuses and the remuneration report.

Reasons.

FGR already has offtake agreements with ALT - pools and Steel blue (boots), Newgen (bucket liners) and planartech (masks)

ALT was reported to needing 3-5 tonnes pa of graphene, = $600-$1mil
Steel blue required 1-2 tonnes $200k+
Planartech - unknown now they are not manufacturing masks
Spacemats - Unknown volume.

Then we have this beauty from September (newGen)

"The Deed of Variation has been executed. It ensures a minimum phased
commitment to FGR of 4,800 kgs of PureGRAPH® over 3 years. The Deed of
Variation terms are worth between $1,200,000 to $1,440,000 in revenue for FGR."

Either management are taking us all for muppets where they performance bonuses are all based on our existing sales, or they have mislead shareholders with their previous asx announcement.

IMO this should not be rewarded for setting such a low target,

What happened to the other 70 customers who were looking at securing graphene supply, or the forecast where FGR would need to build a production facility in Europe to meet demand, "The existing 100 tpa plant at Henderson is just the beginning. Market research undertaken by the Company suggests it could be fully utilised within the next 12-24 months, particularly if UK sales live up to expectations. "

Neill Armstrong has managed to secure sales into marine and the surfboards, He has only been working with FGR for a few years. Yet our UK team have been with us for much longer where they have been unable to secure any sales. What is FGR's UK team and GEIC doing to achieve sales? I am fairly certain GEIC has been open for 2-3 years now.

Expand

Oh good point, I didn't tally our existing sales contracts. So it seems this does firmly fall in the category "the goals are something the company is already doing". Shame, I'll be voting against it.

FGR Price at posting: 21.0¢ Sentiment: Hold Disclosure: Held
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Last 4.8¢		Change 0.000(0.00%)		Mkt cap ! $31.88M

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