10 Icon Energy Annual Report 2024 Directors' Report for the year ended 30 June 2024 MEETINGS OF DIRECTORS During the financial period, fourteen meetings of Directors and six committee meetings were held. Attendances at these meetings by each Director were as follows: Directors Meetings Audit and Risk Management Committee Meetings Remuneration Nominations and Succession Committee Meetings Held Attended Held Attended Held Attended R S James 14 14 2 2 1 1 S M Barry 3 3 – – 3 3 J Marvin 14 14 – – 3 3 P Wilson 11 11 2 2 1 1 ENVIRONMENTAL REGULATION The Consolidated Entity’s operations are subject to various environmental regulations. Further information on the Group’s environmental performance can be found in the Sustainability section of the 2024 Annual Report. During the year, Icon Energy obtained a determination from the Queensland Treasury regarding the surety required for ATP 855 and its Estimated Rehabilitation Coast (ERC). During the year, the Company has also lodged an ERC application with the Department of Environment and Science (DES) for its determination of the ERC. In August 2024, a decision was received that increased the ERC amount by $8,711. Icon paid the additional amount in August 2024. PROCEEDINGS ON BEHALF OF THE COMPANY No person has applied to the Court under section 237 of the Corporations Act 2001 for leave to bring proceedings on behalf of the Company, or to intervene in any proceedings to which the Company is a party for the purpose of taking responsibility on behalf of the Company for all or any part of those proceedings. No proceedings have been brought or intervened in on behalf of the company with leave of the Court under section 237 of the Corporations Act 2001. DIRECTORS AND AUDITORS’ INDEMNIFICATION The Directors and Company Secretary are indemnified by the Company against any liability incurred in their capacity as an officer of the Company or a related body corporate to the maximum extent permitted by law. The Company has not paid any premiums in respect of any contract insuring the Directors of the Company against a liability for legal costs. The company has not, during or since the end of the financial year, indemnified or agreed to indemnify the auditor of the company or any related entity against a liability incurred by the auditor. During the financial year, the company has not paid a premium in respect of a contract to insure the auditor of the company or any related entity. Details of the nature of the liabilities covered in respect of Directors’ and Officers’ insurance policies are not disclosed as such disclosure is prohibited under the terms of the contracts. The total premium expense for the year was $87,162 (30 June 2023: $74,088).
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