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ANNUAL REPORT 2010

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Skip Navigation LinksFinancial Report > Notes to the Consolidated Financial Statements > Note 23. Key Management Personnel

note 23. key management personnel

(a) Details of Key Management Personnel

(i) Directors

Mr Rick Crabb  -   Chairman (Non-executive)

Mr John Borshoff  -   Managing Director/CEO

Mr Sean Llewelyn  -   Director (Non-executive)

Mr Ian Noble  -   Director (Non-executive)

Mr Donald Shumka  -   Director (Non-executive)

(ii) Executives

Ms Gillian Swaby  -  Company Secretary

Mr Mark Bolton  -  Acting Chief Financial Officer (Appointed 1 November 2008; Resigned 13 November 2009)

Mr Garry Korte  -  Chief Financial Officer (Appointed 16 November 2009)

Mr Wyatt Buck  -  Executive General Manager – Production

Mr Dustin Garrow  -  Executive General Manager – Marketing

Mr Simon Solomons  -  Executive General Manager – Operations Development

(b) Compensation of Key Management Personnel: compensation by category

CONSOLIDATED
2010
US$’000
2009
US$’000
Short-term4,6724,156
Post employment624108
Share-based payment4,1853,948
9,4818,212

Average exchange rate used for year to 30 June 2010, US$1 = AU$1.13652 (2009 US$1 = AU$1.36035).

(c) Option Holdings of Key Management Personnel (Consolidated and Parent Entity)

30-Jun-101-Jul-09Granted as renumerationOptions exercisedNet change other30-Jun-10Vested/
exercisable
Not vested/
not exercisable
Directors
Mr John Borshoff2,750,000---2,750,000-2,750,000
Executives
Ms Gillian Swaby333,785---333,785-333,785
Mr Wyatt Buck351,533---351,533-351,533
Mr Dustin Garrow344,769---344,769-344,769
Mr Simon Solomons600,000---600,000-600,000
Total4,380,087---4,380,087-4,380,087

No other Key Management Personnel held options during the year ended 30 June 2010.

30-Jun-091-Jul-08Granted as renumerationOptions exercisedNet change other30-Jun-10Vested/
exercisable
Not vested/
not exercisable
Directors
Mr John Borshoff2,750,000---2,750,000-2,750,000
Executives
Ms Gillian Swaby333,785---333,785-333,785
Mr Ron Chamberlain136,245--(136,245)#---
Mr Wyatt Buck1,351,533-(310,000)(690,000)351,533-351,533
Mr Dustin Garrow944,769-(600,000)-344,769-344,769
Mr Simon Solomons600,000---600,000-600,000
Mr Ross Glossop450,000--(450,000)#---
Total6,566,332-(910,000)(1,276,245)4,380,087-4,380,087

# Forfeited on resignation of employee

No other Key Management Personnel held options during the year ended 30 June 2009.

(d) Share Rights Holdings of Key Management Personnel (Consolidated and Parent Entity)

30-Jun-101-Jul-09Granted as renumerationVested as Shares30-Jun-10
Directors     
Mr John Borshoff-300,000 -300,000
Executives
Ms Gillian Swaby-180,000-180,000
Mr Garry Korte-90,000-90,000
Mr Dustin Garrow-200,000-200,000
Mr Wyatt Buck-160,000-160,000
Mr Simon Solomons-120,000-120,000
Total-1,050,000-1,050,000

No other Key Management Personnel held share rights during the year ended 30 June 2010.

(e) Shareholdings of Key Management Personnel (Consolidated and Parent Entity)

Shares held in Paladin Energy Ltd (number)

30-Jun-10Balance 1 July 2009On Exercise of OptionsNet Change OtherBalance 30 June 2010
Directors
Mr Rick Crabb4,581,528-300,0004,881,528
Mr John Borshoff21,591,394-286,00021,877,394
Mr Ian Noble21,000--21,000
Mr Sean Llewelyn100,000--100,000
Mr Donald Shumka50,000--50,000
Executives
Ms Gillian Swaby5,036,655-5,036,655
Mr Wyatt Buck96,350-13,650110,000
Mr Simon Solomons3,000--3,000
Total31,479,927-599,65032,079,577

No other Key Management Personnel held shares during the year ended 30 June 2010.

30-Jun-09Balance 1 July 2008On Exercise of OptionsNet Change OtherBalance 30 June 2009
Directors
Mr Rick Crabb5,581,528-(1,000,000)4,581,528
Mr John Borshoff21,591,394--21,591,394
Mr Ian Noble21,000--21,000
Mr Sean Llewelyn--100,000100,000
Mr Donald Shumka-50,00050,000
Executives
Ms Gillian Swaby5,091,140-(54,485)5,036,655
Mr Ron Chamberlain600,000-(600,000)#-
Mr Wyatt Buck16,350310,000(230,000)96,350
Mr Simon Solomons1,000-20003,000
Mr Dustin Garrow-600,000(600,000)-
Total32,902,412910,000(2,332,485)31,479,927

# No longer employed by Paladin so not required to disclose shareholdings.

No other Key Management Personnel held shares during the year ended 30 June 2009.

All equity transactions with Key Management Personnel other than those arising from the exercise of remuneration options have been entered into under terms and conditions no more favourable than those the Consolidated Entity would have adopted if dealing at arm’s length.

(f) Other Transactions and Balances with Key Management Personnel

Fees paid in the normal course of business in 2010 for company secretarial services totalling US$421,078 (2009: US$380,454) were paid/payable (balance outstanding at 30 June 2010 and included in trade creditors US$Nil (2009: US$Nil)) to a company of which Ms Gillian Swaby is a director and shareholder. All amounts are excluding GST.