DIRECTORS’ REPORT The following table sets out the number of directors’ meetings held during the Financial Year and the number of meetings attended by each director whilst they were a director of the Company. During the Financial Year, 12 board meetings were held. The only board committee, the audit committee, met twice during the Financial Year. DIRECTORS’ MEETINGS As at the date of this report, directors’ interests in shares and options of the Company are as follows: DIRECTORS’ SHAREHOLDINGS The Board reviews the remuneration packages of all directors and executive officers on an annual basis. Remuneration packages may contain as key elements: DIRECTORS’ REMUNERATION The table immediately below sets out the total remuneration of directors of the Company. No options have been issued to directors pursuant to the Employee Option Plan. a. Salary; b. Benefits - including the provision of motor vehicle and superannuation; and c. Incentive Schemes - including share options under the Employee Option Plan. Directors Board Meetings Audit Committee Meetings Held Attended Held Attended A G Birchmore 12 12 2 2 J H Carver 12 9 - - D A Dillon 12 12 - - J A S Mews 12 9 2 2 Directors Shares Share Options Total Direct Indirect Indirect A G Birchmore - 13,679,300 47,000 13,906,300 M F Bradley - - - - J H Carver 13,631,300 - 20,000 13,651,300 D A Dillon - 1,510,000 - 1,510,000 J A S Mews - 1,500,000 - 1,500,000 R M Reid - - - - Name Office Salary Other (i) Total $ $ $ A G Birchmore Chairman 144,231 4,846 149,077 J H Carver Executive Director 184,615 21,484 206,099 D A Dillon Executive Director 149,999 12,201 162,200 J A S Mews Non-Executive Director 28,846 2,019 30,865 (i) ‘Other’ includes superannuation, provision of motor vehicles and related fringe benefits tax 32