Download - AHG Limited

2012 Annual Report
For the year ended June 2012
The consolidated financial statements incorporate the assets, liabilities and results of the above subsidiaries
in accordance with the accounting policy described in note 1(c). All controlled entities are either directly
controlled by AHG or wholly-owned within the consolidated entity, have ordinary class shares and are
incorporated in Australia or New Zealand. The Deed of Cross Guarantee (refer note 33) relieves whollyowned
entities from lodging financial reports under Class Order 98/1418 (as amended) issued by ASIC.
Ultimate Parent
The parent entity in the wholly-owned group is Automotive Holdings Group Limited.
Transactions with related parties
During the year to 30 June 2012, entities within the wholly-owned Group paid rent on premises to:
2012
$’000
Consolidated
Orient Holdings Pty Ltd - 212
2011
$’000
Auto Management Pty Ltd - 444
Expense attributable to the ordinary equity holders of AHG - 656
The rental agreements are under terms and conditions no more favourable than those which it is
reasonable to expect would have applied if the transactions were at arm’s length. Robert Branchi is
a director of Orient Holdings Pty Ltd and Auto Management Pty Ltd, and was a director of AHG until
19 November 2010. The above transactions are for the period which he was a director of AHG.
Transactions of directors and director related entities concerning shares
Transactions relating to ordinary shares and subscriptions for new ordinary shares were on the same terms
and conditions that applied to other shareholders.
Other transactions of directors and director related entities
Subsidiaries may, from time to time, sell motor vehicles, parts and servicing of motor vehicles for use to
directors of entities in the Consolidated Entity or their director-related entities on terms and conditions
consistent with a normal employee relationship.
Detailed remuneration disclosures in relation to key management personnel are provided in the Directors’
Report under the heading ‘Remuneration Report’.
Guarantee by executive directors
Vehicle registration requirements in Queensland require a personal guarantee and indemnity be granted
by the directors of the relevant operating company. The nature of the obligation is to indemnify the State
of Queensland against any loss and damage it may suffer as a result of AHG subsidiaries’ failure to comply
with relevant vehicle licensing requirements connected to AHG’s automotive business. This personal
obligation (provided by the executive directors) is indemnified by AHG Limited under the terms of the
Access Indemnity and Insurance Deed (“AIID”) entered into between AHG and those individuals in their
capacity as director and officer of AHG Limited and all its group entities.
28. Company details
AHG’s registered office and principal place of business is 21 Old Aberdeen Place, West Perth, WA 6005.
29. Key management personnel
Key management personnel compensation
2012
$’000
Consolidated
2011
$’000
Short-term employee benefits 5,812 5,496
Long-term employee benefits (116) 33
Share-based payments 667 802
Termination benefits 229 811
Post-employment benefits 318 334
6,910 7,475
Refer to note 30 for further details on share-based payments scheme with key management personnel.
Automotive Holdings Group 109