Page 35 - Bauxite Resources Annual Report 2014

Annual Report 2014 Bauxite Resources | 33
DIRECTORS’ REPORT
Directors’ Report cont.
33 Bauxite Resources Annual Report 2014
H Other transactions with key management personnel
Robert Nash provided legal services to Bauxite Resources Limited during the year under an agreement and was paid a retainer
fee of $155,000 (2013: $165,000). This amount paid was on arms length commercial terms and is included as part of the
compensation.
I Additional information
DIRECTORS’ MEETINGS
During the year the Company held 9 meetings of directors. The attendance of directors at meetings of the Board were:
Directors Meetings
A* B **
Robert Nash – Chairman 9 9
Peter Canterbury – Chief Executive Officer 9 9
Luke Atkins 9 9
Cunliang Lai (Appointed 7 March 2014) 2 3
Neil Lithgow 8 9
John Sibly 7 9
Zhaozhong Wang (Appointed 31 March 2014) 2 3
Barry Carbon (Resigned 9 August 2013) - -
Chenghai Yang (Appointed 11 September 2013, Resigned 31 March 2014) 4 5
Feng Ding (Resigned 11 September 2013) - 1
Jitai Yan (Resigned 2 September 2013) - 1
Qingwei Zhan (Appointed 2 September 2013, Resigned 7 March 2014) 2 5
Notes
A* - Number of meetings attended.
B** - Number of meetings held during the period as a director during the year.
During the year there were two audit committee meetings with Mr Lithgow (Chairman) and Mr Nash (Member) attending both meetings, and Mr
Sibly (Member) attending one meeting.
During the year there was one remuneration committee meeting where Mr Atkins (Chairman), Mr Nash and Mr Lithgow (Members) all attended.
SHARES UNDER OPTION
As at 30 June 2014 there were 2,000,000 options on issue to Mr John Sibly which are exercisable at 40 cents, on or before 22
February 2016. There were no new options issued, cancelled or expired during the year.
As at 30 June 2014 there were the 7,590,000 performance rights on issue with 7,090,000 being issued during the year and
1,000,000 expiring during the year.
Subsequent to year end 414,200 staff performance rights have converted into fully paid ordinary shares after meeting
performance hurdles. At the date of this report 7,175,800 performance rights were still on issue.
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 $42,559
(2013: $54,907).
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