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$1.07 southern cross payments ltd

Ann: Appendix 4E and 2021 Financial Statements, page-22

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859 Posts.

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01/03/22

11:54

Post #: 59895595
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Originally posted by JoeGambler: ↑

"Loans to/from related partiesDuring the period,
the company funded $593,693 in legal fees for the then Managing Director, Mr Karantzis. The Company funded these fees in the short term as the Board of Directors believed it was in the best interest of the Company to support the then Managing Director to resolve his legal issues, so that he could relocate overseas, where the main business of the pre-merger Group was located. All such legal fees were offset by the then Managing Director’s remuneration and other payments, which were via ISX Financial EU Plc. As such, no expenses have been recorded by the Company for the year ended 31 December 2021 for these fees. The Company has charged the then Managing Director above market interest rates on these payments totalling $20,584."

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....All such legal fees were offset by the thenManaging Director’s remuneration and other payments…..

Umm, what other payments?

ISX Price at posting: $1.07 Sentiment: None Disclosure: Not Held
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