Apparently, the directors get paid just by sitting in BoD.
Plus, they get paid if they do any additional work and invoice it to their private companies. My question is genuine and naive. is this a normal practice?
Quarterly Report 24/10/22
For the purpose of Listing Rule 5.3.5, the company confirms that $117,525 in directors’ fees was
paid in the quarter (inclusive of $11,025 statutory superannuation and $1,500 GST). Payments
to related parties of the Company and their associates during the quarter totalled $191,672
(including $17,425 GST) – this included $9,900 (including $900 GST) paid to Holihox Pty Ltd (a
related party of Mr Phillip Jackson) for corporate consulting; $146,049 (including $13,277 GST)
paid to Nexus Bonum Pty Ltd (a related party of Geoff Laing) for technical consulting fees; and
$35,723 (including $3,248 GST) was paid to Grange Consulting Pty Ltd (a related party of Phil
Warren) for company secretarial and corporate advisory services. These amounts are included
at Item 6 of the Appendix 5B.
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