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2009

2008

2009

2008

Note

$

$

$

$

(i)

600,000

600,000

(ii)

58,615

50,966

(iii)

6,000,000

7,000,000

(iv)

2,627,091

2,884,929

2,627,091

2,884,929

(v)

21,879,577

21,879,577

Notes to the Financial Statements

For the year ended 30 June 2009

  • 33.

    RELATED PARTY DISCLOSURES (continued)

    • (e)

      ransactions with related parties

Consultancy fees paid Reimbursement of sundry expenses Debt forgiven Value of shares issued pursuant to DRP Value of shares issued pursuant to Rights Issue

Consolidated

Parent

  • (i)

    Consultancy fees paid to SC Global Developments Limited at $50,000 per month (2008: $50,000 per month).

  • (ii)

    Overseas airfares reimbursed for Herman Hochstadt and Bobby Chin to attend Board meetings in Australia, and domestic accommodation and

travel costs reimbursed for Jerome Rowley to attend meetings.

  • (iii)

    Debt forgiven by AVJennings Properties Limited, a controlled entity.

  • (iv)

    Value of shares issued to Directors, either directly, indirectly or beneficially, pursuant to the DRP.

  • (v)

    Value of shares issued to Directors, either directly, indirectly or beneficially, pursuant to the Rights Issue.

(f) Joint ventures in which related entities in the Consolidated Entity are venturers Joint ventures in which the Consolidated Entity has an interest are set out in notes 17 and 20.

(g) Terms and conditions of transactions with related parties Transactions with related parties are made at arm’s length both at normal market prices and on normal commercial terms.

Outstanding balances at year-end are unsecured, interest free, at call and settlement occurs in cash.

AVJennings Limited ABN 44 004 327 771 77

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