Financial Report 2008 - Leighton Holdings

Notes to the Financial Statements continuedfor the year ended 30 June 200835. RELATED PARTY DISCLOSURES CONTINUEDDirectors’ transactionsThe terms and conditions of transactions with Directors and their Director-related entities were no more favourable than thoseavailable, or which might reasonably be expected to be available, on similar transactions to non-Director related entities on anarm’s length basis.During the year dividends were paid to Directors on their shareholdings on the same basis as other shareholders.D. S. Adamsas is the principal of Frenjune Pty Limited which provided the Group with strategic consultancy services during theperiod at a cost of $1,828,978. Following advice received from independent expert consultants, the terms of the consultingcontract were approved by the Board as reasonable in the circumstances and no more favourable than if the Company and MrAdamsas were dealing at arm’s length.DP Robinson is a principal in the firm of chartered accountants, Harveys, which receives fees from Hochtief Australia HoldingsLimited for services provided to that company, which is a related party.R Seidler is a partner in the law firm Blake Dawson Waldron which provided legal services to the Company in relation toremuneration and employment conditions and in relation to Mr Seidler's membership of Board committees. Fees totalling$58,008 (2007: $27,000) were billed based on normal market rates for such services and, in relation to membership ofcommittees, an amount equivalent to fees paid to other committee members was charged. Fees were due and payable undernormal payment terms.Prior to being appointed a director of the Company from 1 June 2007, I Macfarlane received consultancy fees for servicesprovided to the Board. Total fees paid by the Company during the period for these consultancy services was nil (2007:$24,525).Leighton Holdings Limited Financial Report 2008 NOTES TO THE FINANCIAL STATEMENTS 56