Waz #6632

Can you please explain why under key information, financial figures are provided that pertain to the Fric Family Trust, not the Fric Management Group Pty Ltd. Please clarify who is the borrower, what the is  relationship is between these two entities, and whether the loan to the Fric Management Group Pty Ltd is secured or otherwise against the assets of the Fric Family Trust.

Thank you.

 

 

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Fric Management Group Pty Ltd ACN 091429560 #6634

Certainly Waz
The Fric Family Trust is the unit holder in the parent company that I own equity in. Fric Family Trust receives and accounts for all the profits received from the parent company. The Fric Management Group is the trustee vehicle, my personal operating company and the recipient of profits from the Trust. The structure has been in place for 17 years and operates to protect my personal assets and minimise tax. As the operating company Fric Management Group is the vehicle that is taking out the loan as no profits are ever kept in the Trust. The loan in this offering is personally guaranteed.
I hope this helps

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