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Notes to the consolidated fnancial statements (continued)
for the year ended 30 June 2011
29. Key management personnel disclosures (continued)
29.3 Movement in shares (continued)
Movements in the number of Convertible Preference Shares held directly, indirectly or benefcially by each key management personnel, including their related parties, are noted in the table below:
Balance Balance Balance 1 July 2009 Other changes 30 June 2010 30 June 2011
Non-executive directors
Dr C Hirst AO 1 100 (100) – – Senior Executives
D Foster 2 90 – 90 90
Notes
1 Retired on 16 April 2010. Shares held upon retirement are shown in ‘Other changes’. 2 There were no movements during the 2010 and 2011 fnancial years.
29.4 Other key management personnel transactions
Financial instrument transactions
Financial instrument transactions (other than loans and shares disclosed within this report) between the Suncorp Group and directors, executives and their related parties during the fnancial year were in the nature of normal personal banking, investment and deposit transactions. These transactions were on commercial terms and conditions no more favourable than those given to other employees or customers and are trivial or domestic in nature. Transactions other than fnancial instrument transactions
No director has entered into a material contract with the Company or the Suncorp Group since the end of the previous fnancial year and there were no material contracts involving directors’ interests existing at year end. Other transactions with directors, executives and their related parties are conducted on arm’s length terms and conditions, and are deemed trivial or domestic in nature. These transactions are in the nature of personal investment, general insurance and life insurance policies.
30. Other related party disclosures
30.1 Identity of related parties
The Suncorp Group has a related party relationship with its associates and joint venture entities (see note 17.2) and its key management personnel (see note 29).
30.2 Related party transactions with associates and joint venture entities
Transactions between the Suncorp Group and associates and joint venture entities consisted of fees received and paid for information technology services, investment management services, overseas management services, property development fnance facilities and reinsurance arrangements. All these transactions were on a normal commercial basis.
CONSOLIDATED
2011 2010 $000 $000
The aggregate amounts included in the determination of proft before tax that resulted from transactions with related parties are: Other income received or due and receivable:
Associates 995 1,230 Joint ventures 9,397 96,476 Other expenses paid or due and payable
Associates 5,268 6,553 Joint ventures 5,074 4,000 Aggregate amounts receivable from, and payable to, each class of related parties at balance date: Receivables:
Associates 52 7,529 Joint ventures 85,030 83,551 Payables:
Associates 8 – Joint ventures – 1
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