RFG Annual Report 2007 - Retail Food Group

06/07
Annual Report
20
Retail Food Group Annual Report
Value of options issued to directors and executives
The following table summarises the value of options granted, exercised or lapsed during the annual reporting period to the identifi ed Directors
and executives:
Value of options granted
at the grant date (i)
Value of options exercised
at the exercise date
Value of options lapsed
at the date of lapse
$ $ $ $
Tony Alford 18,817 – – 18,817
Nigel Nixon 14,426 – – 14,426
John Cowley 12,545 – – 12,545
Colin Archer 8,960 – – 8,960
Gary Best 16,129 – – 16,129
Robert Sutherland 12,007 – – 12,007
Gavin Nixon 12,634 – – 12,634
Mark Connors 10,573 – – 10,573
Gary Alford 17,025 – – 17,025
Total
(i)
The value of options granted during the period is recognised in compensation over the vesting period of the grant, in accordance with
Australian accounting standards.
Proceedings on behalf of the Company
No person has applied for leave of a Court to bring proceedings on
behalf of the Company or intervene in any proceedings to which the
Company is a party for the purpose of taking responsibility on behalf
of the Company for all or any part of those proceedings.
The Company was not a party to any such proceedings during
the year.
Non-audit services
Details of amounts paid or payable to the auditor for non-audit
services provided during the year by the auditor are outlined in
note 36 to the fi nancial statements.
The directors are satisfi ed that the provision of non-audit services,
during the year, by the auditor (or by another person or fi rm on
the auditor’s behalf) is compatible with the general standard of
independence for auditors imposed by the Corporations Act 2001.
The directors are of the opinion that the services as disclosed in
note 36 to the fi nancial statements do not compromise the external
auditor’s independence, based on advice received from the Audit
Committee, for the following reasons:
• all non-audit services have been reviewed and approved to
ensure that they do not impact the integrity and objectivity
of the auditor, and
• none of the services undermine the general principles relating
to auditor independence as set out in Code of Conduct APES
110 Code of Ethics for Professional Accountants issued by
the Accounting Professional and Ethical Standards Board,
including reviewing or auditing the auditor’s own work, acting
in a management or decision-making capacity for the company,
acting as advocate for the company or jointly sharing economic
risks and rewards.
Auditor’s independence declaration
The auditor’s independence declaration is included on page 21 of the
fi nancial report.
Rounding off of amounts
The Company is a company of the kind referred to in ASIC Class
Order 98/0100, dated 10 July 1998, and in accordance with that
Class Order amounts in the Directors’ report and the fi nancial
report are rounded off to the nearest thousand dollars, unless
otherwise indicated.
Signed in accordance with a resolution of the Directors made pursuant
to s.298(2) of the Corporations Act 2001.
On behalf of the Directors
RETAIL FOOD GROUP LIMITED
A J (Tony) Alford
Managing Director and CEO
Southport, 27th September 2007