FINANCIAL REPORT (cont.) Notes to the Financial Statements (cont.)
22. DIRECTORS AND KEY MANAGEMENT PERSONNEL COMPENSATION The board of directors approves on an annual basis the amounts of compensation for directors and key management personnel with reference to the Group’s performance and general compensation levels in equivalent companies and industries. (a) Remuneration of Directors and Key Management Personnel 2023 $ 2022 $ Short-term employee benefits 1,794,800 1,481,281 Post-employment benefits 83,997 71,227 Share-based payments 156,117 146,232 Total remuneration of directors and key management personnel 2,034,914 1,698,740 The names of and positions held by the key management are set out in the Remuneration Report on page 42. Further details of the remuneration of key management are disclosed in the Remuneration Report. (b) Other Transactions with Key Management Personnel There were no transactions with directors and other key management personnel apart from those disclosed in this note.
(c) Directors’ and Key Management Equity Holdings Refer to the table in the Remuneration Report on page 42. 23. SUBSIDIARIES Details of the Group’s material subsidiaries at the end of the reporting period are as follows.
Proportion of ownership interest and voting power held by the Group 2023 2022
Place of incorporation and operation
Name of Subsidiary
Principal activity Bridge construction and maintenance
Saunders Civilbuild Pty Ltd
Australia
100%
100%
Saunders Property (NSW) Pty Ltd
Real property investments Maintenance
Australia
100%
100%
Saunders Asset Services Pty Ltd
Australia
100% 100%
100% 100%
Saunders PNG Limited
Tank construction and maintenance
PNG
Saunders PlantWeave Pty Ltd
Industrial automation
Australia
100%
100%
Saunders International (NZ) Ltd
Tank construction and maintenance
New Zealand
100%¹
-
Automation IT Pty Ltd
Industrial automation
Australia
100% 2
-
1 Saunders International (NZ) Ltd was incorporated on 1 June 2023 2 Saunders acquired Automation IT Pty Ltd with effect from 1 April 2023.
Annual Report 2023 88
Made with FlippingBook - Online Brochure Maker