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14. Related Party Transactions

(a) Key management personnel compensation

Disclosures relating to ANI's key management personnel are set out below:

June 2020

June 2019

$

$

Short-term employee benefits

2,659,810

2,575,926

Post-employment benefits

137,576

147,384

Other long-term benefits

20,207

49,492

2,817,593

2,772,802

Detailed remuneration disclosures are provided in the REMUNERATION REPORT

(b) Directors

The following were directors of the Company during the whole of the financial year:

  • Lucio Di Bartolomeo
  • Peter Iancov
  • Janice van Reyk
  • Jeremy Schultz
  • Alan (Jim) Whalley

The following were directors of the Company for part of the financial year:

  • David Knox (retired 3 April 2020)
  • Andrew Seaton (appointed 6 April 2020)

(c) Other related parties

(i) Australian Government Ministers

There have been no transactions with any Australian Government Ministers during the financial year.

(ii) Shareholders

The following transactions occurred with related parties:

June 2020

June 2019

$

$

Equity injections

Equity injections from the Commonwealth Government

320,750,000

301,450,000

(d) Loan from the Commonwealth of Australia and its related parties

June 2020

June 2019

$

$

Deferred purchase obligation

Balance at beginning of period

15,412,644

15,743,591

Fair value adjustment

Finance (income) / expense

(17,053)

487,424

Remeasurement of financial liability

(2,277,985)

(818,371)

(2,295,038)

(330,947)

Closing balance at end of period

13,117,606

15,412,644

Refer to Note 7(e)(i) in 7. Financial Assets and Financial Liabilities for further background on this financial liability.