Annual Report 2008 Alliance Group Annual Report 2008

ALLIANCE GROUP LIMITED ANNUAL REPORT 2008The remuneration paid to D J Mackenzie includes a payment approved by the board of $13,600 for specialist advice on a number of mattersassociated with the PricewaterhouseCoopers Report and the proposed merger of Alliance Group Ltd and PPCS Ltd, that was over and abovethe normal duties expected of a director of the company.Employee RemunerationDuring the year, the numbers of employees of the group who received remuneration including benefits, of $100,000 or more were:Remuneration No. of Employees Remuneration No. of Employees$100,000-$110,000 9 $220,000-$230,000 1$110,000-$120,000 7 $240,000-$250,000 1$120,000-$130,000 9 $250,000-$260,000 1$130,000-$140,000 7 $260,000-$270,000 3$140,000-$150,000 2 $420,000-$430,000 1$170,000-$180,000 1 $550,000-$560,000 1$190,000-$200,000 1The above details include 11 employees employed by the company’s UK‐based subsidiary, New Zealand Farmers Ltd.Insurance and IndemnitiesUnder the provisions of Section 162 of the Companies Act 1993, the company has entered into deeds of indemnity with each of its directors andhas effected directors’ and officers’ liability insurance to indemnify them against liabilities and costs associated with claims made against themin their capacity as directors of the company.Co-operative StatusAs required by Section 10 of the Co-operative Companies Act 1996, the following resolution was passed by the board on 6 November 2008. Alldirectors present voted in favour of the resolution:“It was the opinion of the board that Alliance Group Ltd has, throughout the year ended 30 September 2008, been a co‐operative companywithin the meaning of the Co-operative Companies Act 1996 on the following grounds:(a) the company carries on, as its principal activity, a co-operative activity as that term is defined in the Co‐operative Companies Act 1996;(b) the constitution of Alliance Group Ltd states its principal activities as being co‐operative activities;(c) not less than 60% of the voting rights of Alliance Group Ltd were held by Transacting Shareholders as that term is defined in the CooperativeCompanies Act 1996.”DirectorsThe names of persons holding office as directors of the company as at 30 September 2008 are listed in the directory on the inside of the backcover.Mr O D Buckingham and Mr J A Lindsay retire by rotation and being eligible have offered themselves for re‐election. As no further nominationshave been received, Mr Buckingham and Mr Lindsay will be declared re-elected at the annual meeting of shareholders.AuditorsUnder Section 200 of the Companies Act 1993 KPMG, Chartered Accountants, continue in office as auditors.Company’s AffairsThe directors consider the state of the company’s affairs to be satisfactory. Details of the year under review, including material changes in thenature of the business of the company or any of its subsidiaries, are included in the Chairman’s and Chief Executive’s Review and the financialstatements of the company accompanying this report.On behalf of the BoardG O PooleDirectorO D BuckinghamDirectorDated 11 November 200827