Jump to content

Home
Five Year Summary
Corporate Directory
Directors Report
Remuneration Report
Auditors Independence Declaration
Corporate Governance Statement
Income Statement
Balance Sheet
Statement of Changes in Equity
Statement of Cash Flows
Notes to the Financial Statements
Directors Declaration
Independent Audit Report
Shareholder Information
Table of Important Dates

 

NOTE 36: RELATED PARTIES (cont.)
(a) Key management personnel shareholdings (cont.)
OTHER KEY MANAGEMENT PERSONNEL
Held
31 July 2007
Granted as
Remuneration
Net change
Other
Shares
Disposed of
Held
31 July 2008
ORDINARY SHARES
Mr A. Payne
Mr D. Fitzharris
Mr P. Scott
Ms M. Kublins
Mr D. Millington
Mr D. Willmot
Mr I. Thompson
S
101,008
49,728
40,620
39,609
8,074
8,747
12,029
S
20,924
7,216
10,823
11,906
6,087
-
1,803
S
1,041
209
-
291
208
(8,747
208
S
------
(6,284)
S
122,973
57,153
51,443
51,806
14,369
-
7,756
Shareholdings shown above reflect all direct, indirect and beneficial holdings by key management personnel.
All share transactions by key management personnel were on normal terms and conditions on the Australian Stock Exchange.
There were no other transactions with key management personnel during the period.
(b) Summary of key management personnel remuneration
CONSOLIDATED PARENT ENTITY
31 JULY 08 31 JULY 07 31 JULY 08 31 JULY 07
$000 $000 $000 $000
Short term employee benefits 4,794 4,748 2,863 2,739
Post-employment benefits 276 264 168 154
Other long-term employee benefits - - - -
Termination benefits 246 - - -
Share based payment benefits 982 742 570 453
6,298 5,754 3,601 3,346
(c) Other related party transactions
During the year material transactions took place with the following related parties:
Various intercompany loans are in existence between the Parent entity and some of its wholly owned subsidiaries. The carrying
value of these loans in the Parent is identified in note 9 (Receivables) and note 19 (Payables). The loans are unsecured, interest
free and have no fixed terms for repayment.
Property transactions with various trusts (Iisted in note 29) which are jointly owned by the Brickworks Group and Goodman
International Group. The sale of land held for resale by the Brickworks Group to these trusts resulted in revenue of $4.0 million
and profit of $3.4 million. The sale of land classified as Property, Plant and Equipment to these trusts resulted in profit on disposal
of property, plant and equipment of $31.0 million. All transactions were at arms length values.
Purchase of telecommunications services from SP Telemedia Ltd (SOT), an associated entity of Washington H Soul Pattinson &
Co. Ltd, on terms no more favourable than to unrelated parties, totalling $1.3 million (2007 $1.1 million). Mr R.D. Millner and Mr
M.J. Millner are directors of SOT.
Directors and their director-related entities are able, with all staff members, to purchase goods produced by the Brickworks group
on terms and conditions no more favourable than those available to other customers.
NOTE 37: EVENTS OCCURING AFTER BALANCE DATE
On 9 September 2008, Brickworks announced it would buy back all of the Preferred Adjustable Variable Exchangeable Resettable
Shares (PAVERS) on issue, at their issue price of $100 per PAVERS on the reset date of 1 December 2008. The total amount
of the buy-back is to be $165.0 million, in accordance with the terms of issue of the PAVERS. The buy-back is to be primarily
funded using the third tranche of the unsecured variable interest rate facility referred to in note 31(f) above. The impact of this
transaction has not been reflected in the financial report as at 31 July 2008.
On 17 July 2008, New Hope Coal Ltd (NHC), a 61% owned subsidiary of Washington H. Soul Pattinson & Co Ltd, announced an
agreement to sell its New Saraji Coal Project to BHP Billiton Mitsubishi Alliance for $2.45 billion, subject to regulatory approvals.
On 10 September 2008, New Hope announced the completion of that sale. The impact of this transaction has not been reflected
in the financial report as at 31 July 2008.
There have been no other events subsequent to balance date that could materially affect the financial position and performance
of Brickworks Ltd or any of its controlled entities.

 

Go to top