Icon Energy Limited Annual Report 2016

ICON ENERGY LIMITED AND ITS CONTROLLED ENTITIES FOR THE YEAR ENDED 30 JUNE 2016 NOTE 4 - KEY MANAGEMENT PERSONNEL REMUNERATION 30 June 2016 30 June 2015 $ $ (a) • 1,787,492 2,146,738 • 25,952 23,035 • 159,119 263,627 • - 487,846 • - 208,109 1,972,563 3,129,355 (b) (c) Transactions with Directors and Director Related Entities 30 June 2016 30 June 2015 $ $ 1,710 4,230 440 488 2,451,005 8,748,031 2,451,446 8,748,520 Current Prepayments for deferred exploration and evaluation expenditure 34,225 - 45,186 111,360 79,411 111,360 Performance rights holdings Long term benefits Details of performance rights granted as remuneration, together with their terms and conditions, can be found in the remuneration report. Post employment benefits NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Apart from the details disclosed in this note, no Director has entered into a material contract with the Company or consolidated entity since 1 July 2015 and there were no material contracts involving Directors' interests existing at year end. Refer to the remuneration report contained in the directors' report for details of the remuneration paid or payable to each member of the entity's key management personnel (KMP) for the year ended 30 June 2016. CONSOLIDATED ENTITY Key management personnel compensation CONSOLIDATED ENTITY There were no options held by Key Management Personnel during the period ended 30 June 2016 (30 June 2015: Nil). Termination payments Performance rights provided as remuneration Share-based payments Legal fees paid in the ordinary course of business to CKB Associates Lawyers, a firm with which Mr. S Barry is associated. NOTE 6 - TRADE AND OTHER RECEIVABLES Trade and other receivables are not past due and are not impaired at 30 June 2016. All amounts are expected to be received in less than 12 months. Cash on hand Other receivables Cash at Bank All services provided by the director-related entities were at normal commercial terms and conditions. NOTE 5 - CASH AND CASH EQUIVALENTS The numbers of performance rights granted under the executive short-term and long-term incentive scheme that were held during the financial year by each director of Icon and other key management personnel of the group are set out in the remuneration report contained in the directors' report. Short term employee benefits NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the year ended 30 June 2016 FINANCIAL REPORT 45 ICON ENERGY ANNUAL REPORT 2016