Speciality Metals International Limited Annual Report 2019

Page | 25 DIRECTORS’ REPORT (b) Key Management Personnel The following persons were Key Management Personnel of the Speciality Metals International Limited Group during the financial year: Position Appointment Resignation Directors R.H. Krause Non-Executive Chairman Executive Chairman 30 June 2013 14 November 2017 - S. Layton Non-Executive Director 14 November 2017 - R.W. Nice Non-Executive Director 30 June 2013 12 August 2019 Executives A.M. Wing Company Secretary 1 February 2019 - D.W. Clark Chief Financial Officer and Company Secretary 17 April 2014 10 July 2014 31 January 2019 31 January 2019 (c) Details of Remuneration Directors are entitled to remuneration out of the funds of the Company, but the remuneration of the Non-executive Directors may not exceed in any year the amount fixed by the Company in general meeting for that purpose. The aggregate remuneration of the Non-executive Directors has been fixed at a maximum of $200,000 per annum to be apportioned among the Non-executive Directors in such a manner as they determine. Directors are also entitled to be paid reasonable travelling, accommodation and other expenses incurred in consequence of their attendance at Board Meetings and otherwise in the execution of their duties as Directors. Details of the nature and amount of each element of the remuneration of each of the Directors of Speciality Metals International Limited and the Key Management Personnel of the Company and the consolidated entity during the year ended 30 June 2019 are set out in the following tables: Following approval by shareholders at the General Meeting held on 22 June 2018, the Company granted 25,000,000 Performance Rights to Mr Russell Krause, Mr Stephen Layton and Mr Roland Nice in accordance with the terms approved by shareholders. See (e) (ii) below for further information. 2018 Short-term employee benefits – cash salary and fees $ Post- employment Super- annuation $ Long – term employee benefits $ Share-based payments Total $ % Performance Based Shares $ Performance Rights and Options $ Directors R.H. Krause 97,500 - - - 2,263 99,763 2.3% S. Layton 30,000 - - - 754 30,754 2.5% R.W. Nice 48,000 - - - 754 48,754 1.5% A.J. Morgan 1 88,667 - - - - 88,667 0.0% Executives D.W. Clark 2 64,425 - - - - 64,425 0.0% Total key management personnel compensation 328,592 - - 3,771 332,363