We all must be fools this is pathetic! Interesting to note that HR is sole shareholder of Butmall P/L.
Email sent from Richard Hill on 8 March 2011:
"Dear Sir,
I refer to our telephone conversation this morning and as discussed, I provide you with details of payments made to Butmall Pty Ltd relating to the year ended 30th June 2010 and the six months ended 31st December 2010.
Year ended 30th June 2010
Total payments $337,727
Comprising
Bonuses received relating to services of Howard Renshaw 2 years
Payment under service agreement for staff members with provision of administration, accounting, secretarial and other backoffice support
Office rental, computers, office equipment, etc
Other
126,000
159,000
42,000
10,727
$337,727
31st December 2010
Payment to Butmall 6 months to 31/12/2010 $180,000
Comprising
Management fee ? services of Howard Renshaw
Service agreement- staff members, computers, etc
110,000
70,000
$180,000
We confirm that as disclosed in the Annual Report, Butmall Pty Ltd is a related party to QMC."
healthy bonus of $126,000 for hr!
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