Sheffield Resources Limited Annual Report 2023

CONTENTS FINANCIAL STATEMENTS YEAR IN REVIEW DIRECTORS’ REPORT CORPORATE DIRECTORY SHAREHOLDER INFORMATION 19. Related parties Loans to subsidiaries Loans made by Sheffield to its controlled entities are made to meet required expenditure. The loans are payable on demand and are not interest bearing. Transactions with other related parties Farview Solutions Limited (Farview) provides consultancy services to the Group. Mr Griffin is a director and controlling shareholder of Farview and also serves as Executive Chair of Sheffield. The total amount paid to Farview during the year was $395,000 (2022: $300,000). The payment was disclosed in the Remuneration of Key Management Personnel table, which forms part of the Directors’ Report. Ozscot Trust (Ozscot) provides general consultancy services and workshop participation to the Group. Mr Cowe is a director of Ozscot and also serves as Non-Executive Director of Sheffield. The total amount paid to Ozscot during the year was $40,000 plus GST (2022: $43,000). The payment was disclosed in the Remuneration of Key Management Personnel table, which forms part of the Directors’ Report. 20. Key management personnel The key management personnel of the Group are as follows: Name Position Non-Executive Directors John Richards Lead Independent Director Ian Macliver Non-Executive Director Gordon Cowe Non-Executive Director Vanessa Kickett Non-Executive Director Senior Executives Bruce Griffin Executive Chair Mark Di Silvio Chief Financial Officer and Company Secretary The aggregate compensation made to the key management personnel of the Group is as follows: 2023 $ 2022 $ Short-term employee benefits 1,254,428 1,073,921 Post-employment benefits 52,700 58,956 Share-based payments expenses 830,567 687,174 2,137,695 1,820,051 Other key management personnel transactions with the company There were no other key management personnel transactions with the Company other than the fees paid to Farview Solutions Limited and Ozscot Trust as detailed in Note 19. Loans to key management personnel No loans were granted to key management personnel during the year. 57 Sheffield Resources Limited Annual Report 2023

RkJQdWJsaXNoZXIy MjE2NDg3