Hi All,
Looking at Prospectus QBL registered office is 24 Birriga Rd Bellevue Hill NSW 2023. I know someone has raised this before regarding home-office. Rent in Prospectus is $145,000 plus GST ($54,000 2017 & $91,000 2018).
24 Birriga Rd, Bellevue Hill NSW 2023 = 20A Benelong Cres, Bellevue Hill NSW 2023. I believe this is misleading information as there no seprate title for 24 Birriga Road. This address is used so we don't see actual rent we are paying for luxury house. See below searches from LRS. I think Shareholders Paying rent for 5 Bedroom, 5 Bathroom with pool.
In annual report it's says AGMPL provides services offices I love to have this kind of services office with pool & view. Amount of rent of we paying is it really for service office? Not concern about Rent payment but misleading information that's what I can't stand. I haven't done company search for the property owner but we all know if we dig down who will be beneficial owner house!!!!
Is it really office space or We shareholders paying someone personal rents!!!!!! Guess our previous registered office!!! Scroll Down
Previous registered office was
67 Penkivil Street Bondi, NSW, 2026
Again so called service office with 5 bedroom & 3 bathroom. Any idea who owned this property!!! Feldman sold out in Nov 2016 and may be moved to Bellevue Hill NSW 2023 with rent increase of almost 27.78%.
My concern is there is a pattern of using shareholders money to pay for rent which may be for the private use. Being loss making company we are already paying enough fees to directors. It's misleading to charge rent at commercial rent for those big house which is also used for private purpose at the expense of shareholders who trust director that they will use company money in best interest of shareholders.
This is just my view.
Thanks
