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Whitehaven Coal Limited : Annual Report 2008
Whitehaven Coal Limited - Annual Report 2008 NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2008 37. RELATED PARTIES (CONTINUED) Options and rights over equity instruments The movement during the reporting period in the number of options over ordinary shares in the Company held, directly, indirectly or beneficially, by each key management person and director related entities, including their related parties, is as follows: Held at Vested and Held at 1 July 2007 Director related entities Tony Haggarty Andy Plummer Executives Rob Stewart Leigh Whitton Tony Galligan 22,020,657 22,020,657 Granted – – 100,000 100,000 Held at 1 July 2006 Director related entities Tony Haggarty Andy Plummer Executives Leigh Whitton Tony Galligan Granted – 22,020,657 – 22,020,657 – – 100,000 100,000 Exercised – – – – – 3,000,000 – – Exercised 30 June 2008 Vested during the year exercisable at 30 June 2008 7,080,150 14,940,507 14,694,391 7,614,241 7,080,150 14,940,507 14,694,391 7,614,241 – 33,333 33,333 3,000,000 66,667 66,667 Held at 30 June 2007 22,020,657 22,020,657 100,000 100,000 No options held by key management personnel were vested but not exercisable at 30 June 2007. Changes in key management personnel in the period after the reporting date and prior to the date when the financial report is authorised for issue Mr Chris Burgess, General Manager new Projects resigned 15 August 2008. Mr Leigh Whitton, CFO has not accepted the offer to relocate to Sydney but has agreed to remain as the Chief Financial Officer and Joint Company Secretary until 31 March 2009. Other related party disclosures Parent The Company has loans payable totalling $148,037,000 to two subsidiaries at 30 June 2008 (2007: $142,994,000) in current liabilities on the balance sheet. The loans are interest free and repayable on demand but are not intended to be called by the subsidiaries during the next twelve months. Subsidiaries Loans are made by the Company to wholly owned subsidiaries for operating activities. Loans outstanding between the Company and its subsidiaries are repayable on demand and are non-interest bearing. During the financial year ended 30 June 2008, such loans to subsidiaries totalled $170,367,000 (2007: $1,318,000). – 33,333 33,333 Vested during the year – – – – – – – Vested and exercisable at 30 June 2007 – – – – 87
Annual Report 2009