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Finexia Financial Group Limited (ASX:FNX)

ALERT: Price-sensitive ASX Announcement for FNX
Current share price for FNX : $0.180 0.035 (24.14%)+
Announcement
Release
29 Aug 2025 5:11PM
Price at Release
$0.145
Full Release
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Summary
Finexia Financial Group Limited announced a restatement of its FY24 financial accounts due to a material error in the under-accrual of interest and operating expenses, which led to an understatement of expenses in the 2024 financial year. The error was corrected in the 2025 financial statements. Additionally, following a review of the Stay Company Income Fund (Stayco), a write-down of $4,013,463 was implemented, revising its carrying value to $16,053,854 as of 30 June 2025. These actions reflect Finexia's commitment to transparency and governance.
Key Points
  • Restatement of FY24 accounts due to under-accrual of expenses.
  • Material understatement of expenses corrected in FY25 statements.
  • Write-down of Stayco investment by $4,013,463.
  • Revised valuation of Stayco at $16,053,854 as of 30 June 2025.
  • Finexia's engagement with Lumina to identify errors and enhance controls.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.