Cue Energy Resources Limited Notes to the financial statements 30 June 2024 52 Note 15. Key management personnel disclosures and related party disclosures Directors The following persons were directors of Cue Energy Resources Limited during the financial year: Alastair McGregor (Non-executive Chairman)* Andrew Jefferies (Non-Executive Director)* Peter Hood AO (Non-Executive Director) Richard Malcolm (Non-Executive Director) Rod Ritchie (Non-Executive Director) Samuel Kellner (Non-Executive Director)* Marco Argentieri (Non-Executive Director)* * Commencing 1 July 2023, the Directors' fees are invoiced by Echelon and paid on a quarterly basis. The Directors’ fees are retained by Echelon and not personally received by the Directors. Director Fee Details $ Total directors' fees for the year ended 30 Jun 2024 528,496 Invoiced - Paid in relation to FY 2023 53,698 Invoiced - Paid in relation to FY 2024 528,496 Amount invoiced but not paid - During the financial year, Echelon provided technical and legal services to the Group under consulting agreements. The arrangements are on normal commercial terms. As at 30 June 2024, $0.07 million was accrued for services rendered from the immediate parent company and directors (30 June 2023: $0.16 million). During the year ended 30 June 2024, the consolidated entity repaid the remaining $4.00 million in outstanding unsecured loan to Echelon (the carrying amount of which is $3.95 million at 30 June 2023) and in respect of which $0.16 million in finance costs have been incurred (30 June 2023: $0.70 million). Key management personnel The following person also had the authority and responsibility for planning, directing and controlling the major activities of the Consolidated Entity, directly or indirectly, during the financial year: Matthew Boyall (Chief Executive Officer) Total remuneration payments and equity issued to Directors and key management personnel are summarised below. Elements of Directors and executives remuneration includes: • Short term employment benefits, including non-monetary benefits and consultancy fees • Post-employment benefits – superannuation and long service leave entitlements • Long term employee benefits Consolidated 30 June 2024 30 June 2023 Short term employment benefits (including non-monetary benefits) 941,899 612,015 Cash bonuses 87,051 90,180 Deemed short term benefits - 283,198 Long term benefits (951) 27,021 Post-employment benefits 38,845 41,460 Share-based payments 54,243 50,688 Total employee benefits 1,121,087 1,104,562 Other related party transactions Repayment of amounts owing to the Company as at 30 June 2024 and all future debts due to the Company, by the controlled entities are subordinated in favour of all other creditors. The Company has agreed to provide sufficient financial assistance to the controlled entities as and when it is needed to enable the controlled entities to continue operations. 66 Cue Energy Resources Limited Annual Report 2024
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