In my third of my series of “Let's do the AGH numbers” I now...

In my third of my series of “Let's do the AGH numbers” I now turnto the “enablers”
Noting in my first episode we saw that CEO JoshFegan’s take home salary was $905,205 or 6% of the market cap of AGH.

And my second episode revealed that CEO Josh Fegan has alsotaken home over $512,000 for “relocation costs” over the past 3 years (he mustbe relocating a lot!)….

Someother HC posts have made reference to the “enablers”, so it is now time to takea look at them.

Thisepisode of “Let's do the AGH numbers” focuses onlong term CFO Robert Meissner.

CFO Robert Meissner’s total take home salary in FY2023, let's add it up(direct from the Annual Report) was -
$342,500 + $27,500 = $542,500 Salary +Superannuation
+ $51,054 Leave accrued
+ $21,670 STI paid in cash
+ $31,345 LTI (not lapsed)

$474,069TAKE HOME IN CASH.....so basically half a mil!!! Yes, half a mil take home fora CFO of a company with a market cap of $15.18 million.

I'll let that sink in, while we look at that asa percentage of market cap
$474,069 / $15,180,000 market cap - sohe is taking home 3.2% of the company in cash in the year that AGH lost $13.75million, or more than $1.1 million a month

If you add CFO Robert Meissner’s $474,069 + CEOJosh Fegan’s take home salaries together they are taking home nearly 10% of theAGH’s market cap, let me say that again, between the two of them they take homenearly 10% of the AGH’s market cap annually.

One thing I can’t criticise Robert Meissner foras a CFO is his ability as add up the losses for AGH, let’s take a look at thenumbers –

FY19 Annual Report - $8,675,000 AGH loss

FY20Annual Report – $14,768,000 AGH loss

FY21Annual Report – $15,046,000 AGH loss

FY22 Annual Report– $12,124,000 AGH loss

FY23 Annual Report– $13,725,000 AGH loss

TOTAL LOSSES FY19-FY23 $64,338,000, yes, nevermade a profit, but lost $64,338,000 in 5 years since IPO………….wow, that numberis eye watering, that is a lot of shareholder funds

CFO Robert Meissner is certainly good at addingup all the losses, probably what he gets nearly half a mil, as it is a hugetask.

It seems like HC is liking my posts and analysis,so I’ll keep going, third in my series of “Let's do the AGH numbers” comingsoon!

I have three other senior people on my mindnext…….more to come!!!

Thoughts?