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Coffee couple loses Vic Park lease fight

A Perth couple with a struggling coffee franchise has learnt a tough business lesson after they took legal action that involved property developer Finbar Group, listed engineering company Monadelphous and commercial property agent Knight Frank.

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Has corporate governace been upheld this case? Is the sub let of space leased to John Ribino's daughter been set at Markets rates and is there arms lenght in this dealing? Otherwise shareholders are footing the bill for his daughters profits.

It is simply another case of people in power favouring their own. Would the 'level 3 coffee service' have been established if the owner was not the chairmans daughter?

I think Monadelphous need to inform their shareholders of the exact nature of the business arrangements it has with John Ribino's daughter and her coffee service. I also think property agent Frank Knight should have been aware of this other coffee service before they signed up Caffissimo.

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Finbar Group (FRI)

Share Price

Closing price for the last 90 trading days
Source: Morningstar

BN30 Index

Index = 100 as of 4 Jan 2016
Source: Morningstar

Total Shareholder Return as at 31/01/18

1 year TSR5 year TSR
356thFinbar Group16%3%
398thBWP Trust9%11%
564thSwick Mining Services-19%-6%
612thVeris-26%8%
709 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

13/09/17
$203k Issued
18/04/17
$40k Bought
22/03/17
$43k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

36th-BWP Trust$152.5m
37th↑Swick Mining Services$130.0m
38th↑Finbar Group$125.8m
39th↑Veris$107.9m
40th↓Quintis$97.4m
234 listed industrial companies ranked by revenue.
Source: Morningstar

Remuneration from Finbar Group

84thDarren Pateman$876k
111thJohn Chan$751k
312thRonald Chan$416k
Ranked by total remuneration from all listed WA companies

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