AJ Lucas Group annual report 2007-08

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31. KEY MANAGEMENT PERSONNEL DISCLOSURES (cont) Other key management personnel transactions with the Company or its controlled entities A number of key management persons, or their related parties, hold positions in other entities that result in them having control or significant influence over the financial or operating policies of those entities. A number of these entities transacted with the Company or its subsidiaries in the reporting period. The terms and conditions of the transactions with management persons and their related parties were no more favourable than those available, or which might reasonably be expected to be available, on similar transactions to unrelated entities on an arm’s length basis. The aggregate amounts recognised during the year relating to key management personnel and their related parties, were as follows: Key management persons Transaction Note 2008 $ 2007 $ Allan Campbell Executive director services (i) 483,483 406,359 Ian Stuart-Robertson Quantity surveyors (ii) 190,036 143,907 Garry O'Meally Business expenses (iii) 8,214 16,967 (i) Mr Campbell’s services are provided through Argyll Capital Partners Pty Limited. Such services were provided in the ordinary course of business and on normal terms and conditions. The amount payable for these services is shown in the Remuneration Report. (ii) Mr Stuart-Robertson is a director of John Hollis & Partners which provided quantity surveying services. Amounts were charged at normal market rates for such services and were due and payable under normal payment terms. (iii) Mr O’Meally was reimbursed for expenses incurred conducting business on behalf of the Group. Equity holdings and transactions The movement during the reporting period in the number of ordinary shares of the Company held directly, indirectly or beneficially by each key management person, including their related parties, is as follows: Held at 1 July 2007 Received on exercise of rights Received as part of compensation Net other change Held at 30 June 2008 2008 Directors Allan Campbell 10,140,083 — — — 10,140,083 Ian Stuart-Robertson 1,386,750 — — — 1,386,750 Andrew Lukas 6,204,833 — — — 6,204,833 Martin Green 125,000 — — — 125,000 Garry O’Meally 189,180 — — 30,000 219,180 Executives Ian Redfern — — — — — Kevin Lester 570 180,000 — — 180,570 Mark Summergreene — — — — — Brian Burden 570 — — — 570 Brett Tredinnick 60,570 — — 19,000 79,570 Mark Tonkin 120,000 — — 218,317 338,317 2007 Held at 1 July 2006 Received on exercise of rights Received as part of Compensation Purchases Held at 30 June 2007 Directors Allan Campbell 10,056,750 83,333 — — 10,140,083 Ian Stuart-Robertson 1,386,750 — — — 1,386,750 Andrew Lukas 6,121,500 83,333 — — 6,204,833 Martin Green 75,000 — 50,000 — 125,000 Garry O’Meally 139,180 — 50,000 — 189,180 Executives Tim Herlihy (resigned 31/12/06) 100,000 — — — 100,000 Kevin Lester 570 — — — 570 Brian Burden 570 — — — 570 Mark Tonkin 120,000 — — — 120,000 64 LUCAS group
Options and rights over equity instruments granted as compensation The movement during the reporting period in the number of rights or options over ordinary shares in the Company held directly, indirectly or beneficially, by each key management person, including their related parties, is as follows: Held at 1 July 2007 Cancelled Exercised Granted as compensation Held at 30 June 2008 Vested during the year Vested and exercisable at 30 June 2008 2008 Directors Allan Campbell 250,000 — — 110,000 360,000 110,000 110,000 Ian Stuart-Robertson 150,000 — — 70,000 220,000 70,000 70,000 Andrew Lukas 150,000 — — 70,000 220,000 70,000 70,000 Executives Ian Redfern 75,000 — — 129,811 204,811 34,239 109,239 Kevin Lester 180,000 — (180,000) 89,357 89,357 20,543 20,543 Mark Summergreene — — — 82,209 82,209 18,900 18,900 Brian Burden 30,000 — — 80,422 110,422 18,489 48,489 Brett Tredinnick — — — 73,202 73,202 16,829 16,829 Mark Tonkin — — — 57,353 57,353 10,742 10,742 Held at 1 July 2006 Cancelled Exercised Granted as compensation Held at 30 June 2007 Vested during the year Vested and exercisable at 30 June 2007 2007 Directors Allan Campbell 250,000 (166,667) (83,333) 250,000 250,000 — — Ian Stuart-Robertson — — — 150,000 150,000 — — Andrew Lukas 250,000 (166,667) (83,333) 150,000 150,000 — — Executives Ian Redfern 75,000 — — — 75,000 25,000 75,000 Kevin Lester 180,000 — — — 180,000 — 180,000 Brian Burden 30,000 — — — 30,000 — 30,000 32. NON-KEY MANAGEMENT PERSONNEL DISCLOSURES The Group has a related party relationship with its subsidiaries (see note 27) and joint ventures (see note 26). These entities trade with each other from time to time on normal commercial terms. Other than amounts owing to AJ Lucas (Hong Kong) Limited, on which interest is paid at 7.0% per annum, no interest is payable on inter-company balances. The aggregate amounts included in the profit from ordinary activities before income tax that resulted from transactions between entities in the Group are: 2008 2007 $’000 $’000 Interest expense 857 749 Receivables: Aggregated amount receivable from wholly owned entities of the Company: Coastal Sand Technologies Pty Limited 55 55 Less: Provision for doubtful loan (55) (55) — — AJ Lucas Joint Ventures Pty Limited 3,910 3,940 AJ Lucas Operations Pty Limited 24,314 14,386 Lucas Energy Pty Limited 15,047 4,552 AJ Lucas Coal Technologies Pty Limited 4,731 7,669 McDermott Drilling Pty Limited 1,846 1,207 Smart Electrical & Power Services Pty Limited 14 14 AJ Lucas (USA) Inc. 27 27 49,889 31,795 Payables: Aggregate amount payable to wholly owned entities of the Company: Lucas Stuart Pty Limited 14,643 5,537 AJ Lucas (Hong Kong) Limited 12,337 10,680 Geosearch Drilling Service Pty Limited 2,381 — 29,361 16,217 a year of milestones 65
Page 1 and 2:
AJ Lucas Group Limited Annual Repor
Page 3 and 4:
50 Years of Milestones Page 16 Fina
Page 5 and 6:
Chairman’s letter What a year! Lu
Page 7 and 8:
2.5 +220% 8.0 Construction & infras
Page 9 and 10:
The Brooklyn—Lara Gas Pipeline (l
Page 11 and 12:
Left: A coal seam gas well at Glouc
Page 13 and 14:
a year of milestones 11
Page 15 and 16: Hyundai Australia’s new HQ has an
Page 17 and 18: Three pipes this size in a trench i
Page 19 and 20: aj lucas group ltd financial report
Page 21 and 22: Company secretary Mr Nicholas Swan
Page 23 and 24: The Group has now appointed a numbe
Page 25 and 26: Indemnification and insurance of of
Page 27 and 28: Total $ Proportion of remuneration
Page 29 and 30: Analysis of share-based payments gr
Page 31 and 32: Lead auditor’s independence decla
Page 33 and 34: Statements of recognised income and
Page 35 and 36: statements of cash flows for the ye
Page 37 and 38: policies. Significant influence is
Page 39 and 40: Any subsequent period adjustments t
Page 41 and 42: The recoverable amount of an asset
Page 43 and 44: Secondary reporting—geographical
Page 45 and 46: 2008 Number 2007 Number Weighted av
Page 47 and 48: 15. Intangible Development assets G
Page 49 and 50: Assets Liabilities Net 2008 $’000
Page 51 and 52: (b) Bond facilities provided by sur
Page 53 and 54: 21. PROVISIONS Consolidated Company
Page 55 and 56: c) Employee share acquisition plan:
Page 57 and 58: Risk management policies are establ
Page 59 and 60: Market risk Market risk is the risk
Page 61 and 62: Carrying amount $’000 Consolidate
Page 63 and 64: Guarantees and surety bonds Bank gu
Page 65: 31. KEY MANAGEMENT PERSONNEL DISCLO
Page 69 and 70: DIRECTORS’ DECLARATION 157 Church
Page 71 and 72: AUSTRALIAN Securities EXCHANGE ADDI
Page 73 and 74: a year of milestones 71
Page 75 and 76: credits Writing & management Ad Ver
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AJ Lucas Group annual report 2007-08

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