Not a good look...

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Frontier Digital Ventures Limited (ASX: FDV or "the Company") requests a trading halt of its securities pursuant

to Listing Rule 17.1 effective immediately.

The Company requests the trading halt to investigate the apparent misappropriation of funds relating to its

Colombian business (trading as Fincaraiz) which was discovered during the weekend. At this stage, the total

amount of the apparent misappropriation of funds is approximately US$430,000. The Company is in the process

of fully investigating these matters.

The Company expects the trading halt to remain in place until the earlier of commencement of trading on

Wednesday, 20 August 2025 and when the Company makes an announcement regarding the above.

The Company is not aware of any reason why the the trading halt should not be granted or of any other

information necessary to inform the market about the trading halt.

3 June 2025

CEO Resignation and Chairman Appointment

Frontier Digital Ventures Limited (ASX: FDV) (“FDV” or “the Company”) advises that Mr. Shaun Di

Gregorio has tendered his resignation as Chief Executive Officer and Managing Director of the

Company, effective 30 November 2025. The Board extends its sincere appreciation to Mr. Di Gregorio

for his leadership and contribution since the Company’s inception.

As founder and CEO of FDV, Mr. Di Gregorio has built FDV’s global portfolio of online marketplaces

and guided the Company through multiple stages of growth. He has taken the business from an idea

to a digital marketplace group operating across 17 countries, with positive free cashflows and a

powerful platform for growth.

The Board will immediately commence a process to identify a new Chief Executive Officer.

Separately, the Company advises that Mr. Anthony Klok will step down as Chairman of the Board, and

Mr. Patrick Grove has been appointed as the new Chairman, effective immediately.

Mr. Grove is a co-founder of FDV and was appointed as a Non-Executive Director on 10 April 2025. He

brings extensive experience in building and scaling digital businesses across emerging markets and will

provide strategic leadership as the Company enters its next phase of growth.

In accordance with the announcement made by the Company on 10 April 2025 in relation to Board

renewal, Mr. Klok will remain a Non-Executive Director until such time as a new independent director

is appointed.

The Board thanks Mr. Klok for his leadership as Chairman.

The Company will provide further updates to the market as appropriate.

Authorised for release by the Board of Directors of Frontier Digital Ventures Limited.

This is one of those names that has been left for dead, and was subject to a sharp sell-off early in the trading session today. It is probably safe to attribute the severe drawdown to a popular research service and long-time backer of the company finally capitulating.

Sure enough, the shares are already up significantly from the intra-day low, and closed down only 3.57%. I blinked and missed it, but perhaps that is the capitulatory bottom that was needed for an attractive looking trade, especially with profitability metrics inflecting (EBITDA positivity only, but still), and the business looking to be up for sale too with the recent Strategic Review.

Ah, the dreaded "Strategic Review". The cat's out of the bag with their response to the ASX Aware query.

The market seems to be taking it positively though, front-loading a pretty decent gain over the past week or so.

The merits and risks of the business have been well laid-out previously, but if the price action over the long term is any indication, raising additional capital with the share price sitting close to multi-year lows (after a big drawdown from its 2021 highs) is not a great look. Thankfully it isn't a particularly large raise.

With Shaun and co. still seemingly keen on acquisitions and cash flow positivity not yet achieved, it does seem to be that there is a decent chance any future acquisitions will be funded with a capital raising. Just something to keep in mind.