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APN
annual report
2011
notes to the financial statements
APN News & Media Limited and Controlled Entities
27. RELATED PARTY INFORMATION
Unsecured and interest bearing loans
Loans from Directors of entities in the consolidated entity and their Director related entities, are disclosed in note 13.
2011
$’000
2010
$’000
Loan repayments – F Moniaga
331
180
Transactions with other related parties
The aggregate amounts recognised in respect of the following types of transactions and each class of related party involved were:
Transaction type
Class of other related party
2011
$’000
2010
$’000
Loan interest received
Associates
(i)
–
48
Consulting services received
Key management personnel
(ii)
55
62
Dividends paid
Other related parties
(iii)
20,112
17,239
Independent News & Media fees
Other related party
(iv)
1,115
1,115
Contractual payment
Other related party
(v)
–
1,750
Management fees receivable
Associates
(vi)
300
478
Associate company fee
Associates
(vii)
50
50
The above transactions were made on commercial terms and conditions and at market rates except where indicated.
(i) These loans are subject to interest.
(ii) Consultancy fees paid to a company associated with Peter Cosgrove for marketing services rendered.
(iii) Dividends paid to Independent News & Media (Australia) Limited and News & Media NZ Limited.
(iv) Payments to Independent News & Media PLC include reimbursements for services provided including travel and ancillary expenses, provision of unlimited live editorial
copy, services of directors and for advisory services on a range of matters including global media and advertising trends and product development.
(v) Contractual payment to Independent News & Media PLC relevant to the shortening of the secondment agreement with the Company’s outgoing Chief Executive.
(vi) Management fees received/receivable from associates.
(vii) Chairman’s fee paid to Peter Cosgrove by Adshel Street Furniture Pty Limited.