Page 32 - Bauxite Resources Annual Report 2013
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Directors’ Report
cont.
E
Additional information
DIRECTORS’ MEETINGS
During the year the Company held 11 meetings of directors. The attendance of directors at meetings of the Board were:
Directors Meetings
A
*
B
**
Robert Nash – (Appointed Chairman 9 August 2013)
9
11
Peter Canterbury – Chief Executive Officer (Appointed 20 May 2013)
1
1
Luke Atkins
9
11
Ding Feng (Resigned 11 September 2013)
1
0
11
Yan Jitai (Resigned 2 September 2013)
2
1
11
Neil Lithgow
3
10
11
John Sibly
10
11
Barry Carbon – Chairman (Resigned 9 August 2013)
3
11
11
Scott Donaldson – Chief Executive Officer (Resigned 16 November 2012)
4
4
John Sibly
10
11
Notes
A
*
– Number of meetings attended.
B
**
– Number of meetings held during the period as a director during the year.
1. Mr Ding’s appointed alternate director Mr Yang attended 3 Board meetings.
2. Mr Yan’s appointed alternate director Mr Zhan attended 3 Board meetings.
3. During the year there were two audit committee meetings with Mr Carbon and Mr Lithgow (members of the audit committee) both attending both
of the meetings.
SHARES UNDER OPTION
As at 30 June 2013 there were 2,000,000 options issued which remain outstanding:
Number of options
Beginning of the financial year
6,000,000
Exercised, cancelled or expired during the year:
- Exercisable at 40 cents, on or before 31 January 2016
(3,000,000)
- Exercisable at 20 cents, on or before 30 January 2017
(1,000,000)
End of the financial year
2,000,000
As at 30 June 2013 there were 1,500,000 performance rights issued which remain outstanding.
INSURANCE OF DIRECTORS AND OFFICERS
During or since the financial year, the Company has paid premiums insuring all the directors of Bauxite Resources Limited against
costs incurred in defending proceedings for conduct involving:
(a) a wilful breach of duty; or
(b) a contravention of sections 182 or 183 of the Corporations Act 2001,
as permitted by section 199B of the
Corporations Act 2001
. The total amount of insurance contract premiums paid is $54,907
(2012: $57,932).
NON-AUDIT SERVICES
The following non-audit services were provided by the entity's auditor, Moore Stephens or associated entities. The directors are
satisfied that the provision of non-audit services is compatible with the general standard of independence for auditors imposed
by the
Corporations Act 2001
. The directors are satisfied that the provision of non-audit services by the auditor, as set out below,
did not compromise the auditor independence requirements of the
Corporations Act 2001
for the following reasons:
All non-audit services have been reviewed by the audit committee to ensure they do not impact the impartiality and objectivity of
the auditor;
None of the services undermine the general principles relating to auditor independence as set out in APES 110
Code of Ethics for
Professional Accountants
.
Moore Stephens received or are due to receive the following amounts for the provision of non-audit services:
2013
2012
$
$
Taxation services
25,545
32,323
30
Bauxite Resources
Annual Report 2013
