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58 Independence Group NL
DIRECTORS’ REPORT
Directors' report
30 June 2016
(continued)
Remuneration report (continued)
Additional statutory information (continued)
(iv) Reconciliation of share rights shares held by KMP (continued)
1. The Company achieved shareholder return over the 3 year period to 30 June 2015 of greater than 115% of the S&P ASX 300 Metals
and Mining Index (Index) resulting in 100% vesting of the share rights attributable to shareholder return (75%).
2. The Company achieved less than 100% of average target Return on Equity (ROE) for the 3 year period to 30 June 2015 resulting in
0% vesting of the share rights attributable to ROE (25%).
3. Share rights vesting to Ms Retallack in the FY16 year relate to the grant of share rights prior to being a KMP and were based on a
combination of shareholder return and personal performance. The Company achieved shareholder return over the one year period to 30
June 2014 of greater than 115% of the Index resulting in 100% vesting of the share rights attributable to shareholder return (40%). Ms
Retallack's personal performance return for the year ended 30 June 2014 resulted in 60% vesting of the share rights attributable to
personal performance (60%).
4. Share rights forfeited following resignation of KMP during the year.
(v) Shareholdings of KMP
The number of ordinary shares in the Company held by each director and other KMP, including their personally related
entities, are set out below.
2016
Name
Balance at the
start of the
period
Received on vesting
of share rights
Other changes
during the
period
1
Balance at the
end of the
year
Directors of Independence Group NL
Peter Bilbe
20,000
-
-
20,000
Peter Bradford
250,000
-
345,680
595,680
Peter Buck
4,700
-
-
4,700
Geoffrey Clifford
-
-
-
-
Keith Spence
-
-
-
-
Neil Warburton
2
-
-
103,368
103,368
HEADER
Other key management personnel
Keith Ashby
-
-
53,885
53,885
Rob Dennis
-
-
16,644
16,644
Matt Dusci
9,900
-
-
9,900
Joanne McDonald
-
-
-
-
Sam Retallack
7,443
12,422
-
19,865
Scott Steinkrug
-
46,845
-
46,845
Brett Hartmann
40,000
50,493
(90,493)
-
Tony Walsh
-
-
-
-
Total
332,043
109,760
429,084
870,887
1. Shareholdings are reversed to show a zero balance at 30 June 2016 on resignation as a director or ceasing to be a KMP.
2. Other changes during the year include opening balances on becoming a KMP for the first time during the year.
(vi) Other transactions with KMP
During the current financial year, there were no other transactions with KMP or their related parties.
(vii) Voting of shareholders at last year's annual general meeting
Independence Group NL received more than 99% of “yes” votes on its remuneration report for the 2015 financial year.
The Company did not receive any specific feedback at the AGM or throughout the year on its remuneration practices.
Shares under option
At the reporting date, there were no unissued ordinary shares under options, nor were there any ordinary shares issued
during the year ended 30 June 2016 on the exercise of options.
Independence Group NL
29