Not kidding. Thought this was interesting:23. KEY MANAGEMENT...

Not kidding. Thought this was interesting:

23. KEY MANAGEMENT PERSONNEL (continued)
The results for the year include the following expenses that resulted from transactions with Directors of the
Company and their personally related entities.
2012 2011
$ $
1. Rents paid or payable to Mr McCrae and his director-related
entities. 224,941 213,571
2. Salary and on costs paid to Ms Deborah Holmes, partner of Mr
Hutchison (Ms Deborah Holmes was employed as the
Administration Manager of the Cloncurry office). 32,702 66,500
3. Consulting fees paid to Mr G. Lambert’s director-related entity 7,800 -
There were no balances due to Directors and Director Related Entities at period end.
Other Transactions with Key Management Personnel
In the 2012 financial year the Consolidated Entity: -
a. acquired from a company associated with W. McCrae, an office complex situated in Cloncurry for
$1.25 Million. The purchase price was based on an independent valuation of the property and there
was no amount owing at year end;
b. acquired plant and equipment from a company associated with W. McCrae for $220,000. The
purchase price was based on an independent valuation of the equipment and there was no amount
owing at year end; and
c. acquired land and buildings in Cloncurry from P. Hutchison for $450,000. The purchase price was
based on an independent valuation of the property. All furniture and fittings on the property was also
acquired for $24,000, being its assessed market value at the date of purchase and there was no
amount owing at year end;