On page 37 of IDA's Annual 2024 Accounts, Note 20: Contingent Liabilities & Assets, it clearly states that Bronwyn Barnes was awarded a success fee of US$ 1,350,000.00 (~ A$2,000,000.00 million).
I have no issue with this Fee other than, from my reading it was only disclosed once within an ASX Announcement on 7 February 2020.
Why has this not been disclosed when other rewards have been given? Note: one example (notwithstanding multiple other share options rewards), the current 2024 accounts show Bronwyn Barnes was paid a Bonus of $180,000.00 - Double Dipping?
It is unclear to me if such fee US$ 1,350,000.00 has already been paid in full or only 1.5% of the US$ 35,000,000.00 received to date has been.
My questions are simple and are:
1. Why was this US$1,350,000.00 (or more to the point the 1.5% Succuss Fee Arrangement) not disclosed in last years EGM, when there was a vote for millions of Indiana Options to Bronwyn Barnes.
2. Why have past Annual Reports not disclosed this 1.5% Success Fee, as a Material Contingent Liability (probably the same reason as why the past Company Secretary and Current CFO never had her Ownership of Obsidian & Target noted ?
All very very "Smelly to me".
Further, the Accounts show a Contingent Liability to Patron which is "Incorrect".
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