Michael Kelly

·      14 April 2023 Direct 101,966 CDIs price ~$1.51 per CDI (~$153,968.66)

·     15 March 2023 Direct 210,000 CDIs Price ~$1.148 per CDI (~$241,080)

·     10 March 2023 Direct 768,591 CDIs price $1.322 per CDI ($1,016,077.30)

Director Buying

Michael Kelly

·      10 March 2023 Direct 768,591 CDIs price $1.322 per CDI ($1,016,077.30)

William Mullaney

·      10 March 2023 Direct 10,000 CDIs price $1.20 per CDI ($12,000)

Founder and CEO Michael Kelly Summary On-market Purchases this year

Indirect buy purchase are by Jacquel Investments in which Michael Kelly holds a 50% interest in (assumption the other 50% is owned by his wife).

Total Value 1,405,449 CDIs ~$2,732,574 for average buy price $1.944 CDI

Direct              98,589 CDIs     (~$166,714)

Indirect            1,306,860 CDIs (~$2,565,860)

Breakdown On-market Trades for 2022 (up to 23 Oct 2022)

6 – 11 October            57,588 Indirect           $1.2499 – $1.30 per CDI (~$71,979)

30 September             207,953 Indirect         $1.348 - $1.442 per CDI (~$290,094)

27 May – 2 June          98,589 Direct              $1.575 - $1.807 per CDI (~$166,714)

                                    190,979 Indirect         $1.575 - $1.807 per CDI (~$322,946)

12 – 13 May                209,740 Indirect         $1.747 0 $1.86 per CDI (~$378,267)

27 – 28 April                230,000 Indirect         $2.1377 - $2.2520 per CDI (~504,816)

10 March                    410,600*                     $2.43 per CDI  ($997,758)

*On market trade and subsequent off-market transfer to personal holding 

Barriers to Entry

• Mission Critical Software
• Strong reputation
• Regulator approvals 
• Switching costs: the cost of switching between software providers can be significant as a result of the upfront investment required to integrate core system software into existing IT infrastructure, as well as the cost and risk associated with transitioning data to a new platform 

• Guidewire software (NYSE: GWRE)
•  EIS Group
•  vitech
• Majesco
• FAST
• Oracle
• DXC Technology
• Claim Vantage

FINEOS is a leading vendor of core software to the life, accident & health insurance industry. 

FINEOS is headquartered in Dublin, Ireland, where it undertakes product and technology R&D. 

FINEOS has clients, as well as sales, service, product development and support offices in Australia, New Zealand, Sweden, the Netherlands, Spain, Poland, Ireland, the United Kingdom (UK), Canada, the United States (US) and Hong Kong.