2013 Apr 15 Annual Report 2012 - Phosphagenics

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Notes to the consolidated fi nancial statements 18. RELATED PARTY DISCLOSURE The consolidated fi nancial statements include the fi nancial statements of Phosphagenics Limited and the subsidiaries listed in the following table. 2012 Equity Interest 2011 Equity Interest 2012 Investment $’000 2011 Investment $’000 Country of Entity Incorporation Vital Health Sciences Pty Ltd Australia 100% 100% 27,111 27,111 Preform Technologies Pty Ltd Australia 100% 100% - - Adoil Pty Ltd Australia 100% 100% - - Phosphagenics Inc. USA 100% 100% - - Phosphagenics have a 50% interest in Equine Ergogenics Australia Pty Ltd, for which no transactions have taken place. Other transactions with key management personnel The loss from operations includes no items of revenue and expense that resulted from transactions other than remuneration or equity holdings, with specifi ed directors or their personally-related entities. 102 Don Clarke is a partner of law fi rm Minter Ellison. Minter Ellison provided professional services to the Group totalling $31,542 (2011: $70,362) during the year. These services were provided on normal commercial terms. Performance Rights holdings of key management personnel Performance 2012 01 Jan 12 Balance No. Award date Rights awarded during the year No. Fair value per performance right at award date 31 Dec 12 Balance No. Not Vested No. % of Remuneration consisting of Performance rights Non Executive Directors Addison, J.L 750,000 1-May 2011 - $0.07 750,000 750,000 20.3% Clarke, D 350,000 1-May 2011 - $0.07 350,000 350,000 13.9% James, S 350,000 1-May 2011 - $0.07 350,000 350,000 13.9% Webb, S 350,000 1-May 2011 - $0.07 350,000 350,000 13.9% Executive Directors Rosen, H 2,000,000 1-May 2011 - $0.07 2,000,000 2,000,000 11.2% Ogru, E 2,000,000 1-May 2011 - $0.07 2,000,000 2,000,000 11.3% Key Management Personnel Alsop, H - 21-Mar-2012 750,000 - 750,000 750,000 12.0% Gavin, P 1,000,000 3-Oct-2011 - $0.07 1,000,000 1,000,000 11.5% Arnott, A 200,000 3-Oct-2011 - $0.07 200,000 200,000 5.8% Butala, D 1,000,000 3-Oct-2011 - $0.07 1,000,000 1,000,000 12.1% El-Tamimy, M 1,000,000 3-Oct-2011 1,000,000 1,000,000 13.5% Rosen, J - 21-Mar-2012 700,000 700,000 700,000 18.4% Kyriakou, K 750,000 3-Oct-2011 (750,000) $0.07 - - - Moses, G - - - - - - - Totals 9,750,000 700,000 - 10,450,000 10,450,000 All performance rights granted to key management personnel have been issued in accordance with the provisions of the Employee Conditional Rights Scheme (ECRS). PHOSPHAGENICS ANNUAL REPORT 2012
Notes to the consolidated fi nancial statements 18. RELATED PARTY DISCLOSURE (CONTINUED) Option holdings of key management personnel 2012 01 Jan 12 Balance No. Granted as remuneration No. Options Exercised No. Net other change No. 31 Dec 12 Balance No. Vested No. Not Vested No. Non Executive Directors Addison, J.L - - - - - - - Clarke, D - - - - - - - James, S 2,400,000 - - - 2,400,000 2,400,000 - Webb, S - - - - - - - Executive Directors Rosen, H - - - - - - - Ogru, E - - - - - - - Key Management Personnel Alsop, H - - - - - - - Gavin, P 400,000 - - - 400,000 400,000 - Arnott, A - - - - - - - Butala, D 250,000 - - - 250,000 250,000 - El-Tamimy, M 450,000 - - - 450,000 450,000 - Rosen, J - - - - - - - Kyriakou, K 1 - - - - - - - Moses, G - - - - - - - Totals 3,500,000 - - - 3,500,000 3,500,000 - 103 1 K Kyriakou is no longer a key management personnel due to her resignation on 7 August 2012. 01 Jan 11 Granted as Options Net other 31 Dec 11 Not Balance remuneration Exercised change Balance Vested Vested 2011 No. No. No. No. No. No. No. Non Executive Directors Addison, J.L - - - - - - - Clarke, D - - - - - - - James, S - - - 2,400,000 2,400,000 2,400,000 - Webb, S - - - - - - - Executive Directors Rosen, H - - - - - - - Ogru, E - - - - - - - Key Management Personnel Banti, F 1 2,650,000 - - (2,650,000) - - - Gavin, P 800,000 - - (400,000) 400,000 400,000 - Arnott, A - - - - - - - Butala, D 250,000 - - - 250,000 250,000 - Harrison, K - - - - - - - Kyriakou, K - - - - - - - Libinaki, R 650,000 - - (400,000) 250,000 250,000 - Totals 4,350,000 - - (1,050,000) 3,300,000 3,300,000 - 1 F Banti is no longer a key management personnel due to his resignation on 29 July 2011, although his options remain exercisable All options granted to key management personnel have been issued in accordance with the provisions of the Employee Share Option Plan (ESOP). NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
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20 12 Annual Report PHOSPHAGENICS P
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highlights March... April... May...
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03 Jonathan Addison Chairman & Inde
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COLLABORATIONS Strategic Collaborat
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The Phosphagenics Evolution THE STO
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“ We also reached agreement with
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Overview of our opioid development
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13 is branded as Butrans or Norspan
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Personal Care ASHLAND INC (FORMERLY
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BEAUTY IS MORE THAN SKIN DEEP 17 EL
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cellulite contour crème BioElixia
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Intellectual Property Title Countri
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2009 2008 2007 2006 6.8 7.8 22.2 23
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DR ESRA OGRU (AGED 37 YEARS) BSC (H
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Senior Management DR PAUL GAVIN Chi
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Phosphagenics Limited ABN 32 056 48
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Directors’ Report Your directors
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Directors’ Report continued Looki
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Directors’ Report continued Commi
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Directors’ Report continued REMUN
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Directors’ Report continued REMUN
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Directors’ Report continued Share
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Directors’ Report continued Share
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Exercise Price Expiry Date Net othe
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Exercise Price Expiry Date Net othe
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Fair value per performance right at
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Page 55 and 56: Auditors Independence Declaration 5
Page 57 and 58: Corporate Governance Statement cont
Page 67 and 68: Consolidated statement of fi nancia
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Page 71 and 72: Notes to the consolidated fi nancia
Page 73 and 74: Application date of standard Impact
Page 103: Notes to the consolidated fi nancia
Page 113 and 114: Independent Auditor’s Report 111
Page 115 and 116: Additional Shareholder Information
Page 117 and 118: Additional Shareholder Information
Page 119: corporate directory Phosphagenics L
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2013 Apr 15 Annual Report 2012 - Phosphagenics

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