by clicking the arrows at the side of the page, or by using the toolbar.
by clicking anywhere on the page.
by dragging the page around when zoomed in.
by clicking anywhere on the page when zoomed in.
web sites or send emails by clicking on hyperlinks.
Email this page to a friend
Search this issue
Index - jump to page or section
Archive - view past issues
Whitehaven Coal Limited : Annual Report 2013
162 Whitehaven Coal Limited Annual Report 2013 Notes to the Financial Statements 30 June 2013 Loans from key management personnel and their related parties There were no loans outstanding to key management personnel and their related parties, at any time in the current or prior reporting periods. Other key management personnel transactions Apart from the details disclosed in this note, no Director has entered into a material contract with the consolidated entity since the end of the previous nancial year and there were no material contracts involving Directors' interests existing at year-end A number of related parties and key management persons hold positions in other entities that result in them having control or signi cant in uence over the nancial or operating policies of those entities. These entities transacted with the Company or its subsidiaries in the reporting period. The terms and conditions of the transactions with management persons and their related parties were no more favourable than those available, or which might reasonably be expected to be available, on similar transactions to non-director-related entities on an arm's length basis. For all related parties disclosed below, there were no guarantees given or received, or provisions for doubtful debts over the outstanding balances at year end, nor were these balances secured against any assets of the consolidated entity. The aggregate amounts recognised during the year relating to key management personnel and their related parties were as follows: (i) During the year the Company paid legal fees of $13,388 relating to share and option rights granted to an entity associated with former Director, Allan Davies, on his becoming a Director of the Company in 2009 including in relation to the timing of the grant of those rights. (ii) The consolidated entity has previously held a sub-lease on normal commercial terms with XLX Pty Limited, a company of which Tony Haggarty, Andrew Plummer and Allan Davies are all Directors, for o ce space in Sydney. Fees in the prior year amounted to $107,341. The sub-lease agreement was completed during the prior year. (iii) The consolidated entity sells coal to and buys coal from Energy Coal Marketing Pty Ltd ('ECM'), a company formerly controlled by Hans Mende. During the prior year the Company made sales to ECM amounting to $52,505,015. These transactions were carried out on an arm's length basis at market rates. 33. RELATED PARTIES CONTINUED
Annual Report 2012