HOW MUCH DOES YOUR BOSS GET PAID?
EXECUTIVE SALARIES AT COAST’S BIGGEST COMPANIES
THERE are 20 ASX-listed companies which are either based on the Gold Coast, or have significant interests in the city. As results season winds up for the past financial year, Kathleen Skene examines how the companies performed – and how much those in charge of them were paid – in order of each company’s value. 1. THE STAR ENTERTAINMENT GROUP LTD (SGR)
THE listed operator of The Star Gold Coast is one of the city’s largest non-government employers. Its Gold Coast interests include The Star at Broadbeach, where it has a $2 billion redevelopment program under way. The Star is also owner of the beachfront Sheraton Grand Resort at Main Beach. Profit was down 44 per cent last financial year, partly due to its opening of new Gold Coast hotel The Darling.
Financial result 2017-18: Net profit $148.1 million.
Market capitalisation: $4.94 bllion.
Share price YoY: down 2 per cent.
Dividends/distributions: 20.5c franked.
Total executive and board remuneration: $7,708,472.
EXECUTIVES:
Managing director and CEO Matt Bekier: $1,695,000 salary, $1,098,360 cash bonus plus share-based incentives that took his total remuneration to $4,375,845.
Group CFO Chad Barton: $770,372 salary, $324,481 cash bonus plus share-based incentives that took his total remuneration to $1,257,093.
Star Sydney MD Greg Hawkins: $1,260,000 salary, $352,800 cash bonus plus share-based incentives that took his total remuneration to $1,789,200.
Queensland MD Geoff Hogg: $635,250 salary, $203,280 cash bonus plus share-based incentives that took his total remuneration to $1,270,828.
NON-EXECUTIVE DIRECTORS:
Chairman John O’Neill: $475,000.
Gerard Bradley: $250,417.
Greg Hayes (retired October 26): $76,667. Katie Lahey: $225,000.
Sally Pitkin: $227,500.
Richard Sheppard: $230,000.
Zlato Todorcevski (appointed May 23): $162,292
Ben Heap (appointed May 23): $105,000.
2. G8 EDUCATION (GEM)
G8 is the largest listed company based on the Gold Coast – and it’s had a challenging year. The sector has been transitioning to a Federal Government childcare funding package and has been depressed due to oversupply in some markets. The company’s half-year results, released in
August, saw its pretax earnings plummet 21 per cent, due to higher wage costs and government-mandated staff to student ratios. The bottom fell out of G8’s share price last financial year, and the company lost nearly $450 million of its market capitalisation in a single day. Last October the company was worth more than $2 billion. G8 reports on the calendar year instead of the financial year, so the results below are for the year ending December 2017, with additional information drawn from the 2018 halfyearly results.
Financial result calendar 2017: net profit $80.58m.
Market capitalisation: $947.76m.
Share price YoY: down 4 per cent in year to December 31 (down 35.46 per cent in year to June 30).
Dividend: 18c franked (10c franked interim dividend paid March 23, 2018).
Total executive and board remuneration 2017: $2,558,000.
EXECUTIVES 2017:
Managing director Gary Carroll: $743,188 fixed salary plus $50,000 bonus for total remuneration of $793,188.
Former executive director Chris Scott (left the company in May 2017): $371,031 plus bonus of $157,926, termination payment of $282,934 for total remuneration of $811,891.
CFO Sharyn Williams (commenced February 2017): $388,280 fixed salary.
GM operations Jason Ball (commenced June 2017): $209,928 fixed salary.
GM operations Terry King (resigned April 2017): $95,462 salary plus $149,428 termination pay for total remuneration of $244,890.
NON-EXECUTIVE DIRECTORS 2017:
Chairman Mark Johnson: $246,3375.
Brian Bailison: $147,825.
Susan Forrester: $139,065.
David Foster: $141,718.
Julie Cogin (appointed September 2017): $43,101.
Margaret Zabel (appointed September 2017): $39,842.
Matthew Reynolds: (resigned August 2017): $87,465.
3. ARDENT LEISURE GROUP (AAD)
ARDENT is the owner and operator of Dreamworld, WhiteWater World and Skypoint on the Gold Coast. The company has been battered by deserting shareholders and customers in the past two years since four people died on Dreamworld’s Thunder River Rapids ride. The company’s theme parks division was the major driver of the latest results, with that division alone recording a loss in earnings of $91.1 million.
Financial result 2017-18: $88.6 million net loss.
Market capitalisation: $870.67m. Share price YoY: up 4.8 per cent.
Dividend: 8.5c unfranked.
Total executive and board remuneration: $4,744,170.
EXECUTIVES:
Former Dreamworld CEO Craig Davidson (resigned July 3, 2018): paid $611,654 last year, including $384,808 base salary, $177,000 termination pay and $49,846 in vested equity in the company.
Ex Group CEO Simon Kelly, who was less than six months in the job: paid $300,000 severance on top of the salary he earned, totalling $880,075 for the stint.
His predecessor Deborah Thomas, who left on the first day of the financial year: received 12 months salary in lieu of notice and was paid $731,291 in FY18.
Former group CEO and interim CFO Geoff Richardson (employed July 3, 2017-June 15, 2018): received a base salary of $846,700.
Former CFO Richard Johnson (left July 14, 2017): base salary of $27,697, deferred equity of $62,578 and a termination payment of $246,998 for total remuneration of $337,273.
Former bowling and entertainment CEO Nicole Noye (left that role December 27): base salary of $212,052, a cash bonus of $204,988, termination payment of $17,958 for a total of $434,998. Ms Noye has since been re-employed as acting CEO of the theme parks division.
Former US entertainment centres CEO Charlie Keegan
(left November 24, 2017): US$270,048 base salary, deferred equity of US$62,259, long-term incentive vested of US$191,958, termination payment of US$294,375 for total pay of US$818,640.
Incoming US-based president and CEO of Main Event Chris Morris: received US$161,538 for the months he was in the role, on top of a US $450,000 sign-on payment. His ongoing base salary is US$600,000.
New US-based group CFO Darin Harper: was paid US$121,917 last financial year, including salary and vested equity in the company, and has an ongoing salary of US$420,000.
NON-EXECUTIVE DIRECTORS:
Chairman Dr Gary Weiss (effective September 3, 2017): declined payment.
David Haslingden: $129,292. Don Morris: $126,375.
Randy Garfield (effective August 14, 2017): $138,425.
Brad Richmond (effective September 3, 2017): $133,757.
Former chairman George Venardos (resigned September 29, 2017): $38,656.
Roger Davis (resigned August 17, 2018): $134,167.
Melanie Willis (resigned September 8, 2017): $14,583.
4. VILLAGE ROADSHOW LIMITED (VRL)
VILLAGE Roadshow operates Movie World, Sea World, Wet ‘n’ Wild, Paradise Country and Top Golf on the Gold Coast, as well as a number of cinemas and the Oxenford film studios. That company has suffered collateral financial damage of the Dreamworld tragedy, but managed to turn a slim profit after selling off assets including its Sydney Wet ‘n’ Wild theme park, land under its Gold Coast parks and a stake in its Singapore operations. Executive directors of Village Roadshow agreed to a 25 per cent reduction in their base pay for FY18, while non-executive directors also agreed to a 25 per cent reduction in their fees. However, a remuneration report is yet to be released. Full accounts expected in its annual report, due on October 19.
Financial result 2017-18: preliminary $200,000 net profit.
Market capitalisation: $430.37m.
Share price YoY: down 42 per cent. Dividend: $0. Total executive and board remuneration: FY18 not yet reported, FY17 was $8,157,346.
EXECUTIVES (FY17):
Co-executive chairman and co-CEO (now executive chairman) Robert Kirby: total salary and benefits of $1,585,978.
Then co-executive chairman and co-CEO (now CEO) Graham Burke: $1,411,035. Finance director Julie Raffe: $755,112 salary, $349,699 cash bonus, plus other benefits and allowances for total remuneration of $1,321,143.
COO Clark Kirby: $635,888 salary, $291,593 cash bonus, plus other benefits and allowances for total remuneration of $1,148,925.
General counsel Simon Phillipson: $607,364 salary, $283,620 cash bonus, plus other benefits and allowances for total remuneration of $970,910.
CFO Alistair Bennallack: $507,776 salary, $257,472 cash bonus, plus other benefits and allowances for total remuneration of $924,276.
NON-EXECUTIVE DIRECTORS (FY17):
Deputy chairman John Kirby: $130,725.
David Evans: $202,708.
Robert Le Tet: $150,186.
Timothy Antonie: $171,464.
Jennifer Fox Gambrell: $139,996.
5. PWR HOLDINGS (PWH)
THIS Ormeau company supplies electronic cooling systems for race cars in Australia, Europe and the United States. It is also behind exciting research and development projects in the sector, has enjoyed healthy growth in recent years and recently expanded its operations into a second building beside its existing premises. The company booked an 7.8 per cent increase in revenue last financial year.
Financial result 2017-18: net profit $11m.
Market capitalisation: $333m.
Share price YoY: up 15.3 per cent.
Dividend: 7.3c franked.
Total executive and board remuneration: $2,682,044.
EXECUTIVES:
Managing director and CEO Kees Weel: salary of
$350,000, cash bonus of $175,816 and other allowances and performance rights taking total remuneration to $621,152.
CFO Stuart Smith (appointed November 13): salary $153,846, cash bonus of $50,233 plus other benefits taking total remuneration to $237,469.
General manager, engineering Matthew Bryson: salary of $250,000, cash bonus of $75,350 plus other benefits taking total remuneration to $405,848.
General manager, Europe, Andrew Burton: salary of $111,584, cash bonus of $22,842 plus other benefits taking total remuneration to $140,945.
General manager, USA, Jim Ryder: salary of $96,451, cash bonus $21,834 plus other benefits for total remuneration of $127,513.
Former CFO Adam Purss (resigned November 12, 2017): salary of $76,923, termination pay of $59,944 plus other benefits for total remuneration of $144,175.
Former general manager Marshall Vann (resigned February 6, 2018): salary of $159,520, termination pay of $69,060 plus other benefits for total remuneration of $244,942.
NON-EXECUTIVE DIRECTORS
Chairwoman Teresa Handicott: $170,000.
Jeffrey Forbes: $115,000.
Roland Dane: $95,000.
6. VILLA WORLD LIMITED (VLW)
THIS Broadbeach-based development company bills itself as Australia’s largest housing provider and has profitable projects on the Gold Coast and in Victoria. The company enjoyed a healthy profit last financial year, up 15 per cent on the previous year.
Financial result 2017-18: $43.6m net profit.
Market capitalisation: $260.2m.
Share price YoY: down 1.3 per cent.
Dividend: 10.5c franked.
Total executive and board remuneration: $4,043,558.
EXECUTIVES:
CEO and managing director Craig Treasure: $725,000 base salary including
superannuation, cash bonus of $278,000, plus other benefits taking total remuneration to $1,535,999.
COO Michael Vinodolac: $370,000 base salary including superannuation, cash bonus of $87,500, plus other benefits taking total remuneration to $596,569.
CFO Lorelei Nieves (appointed April 18, 2018): salary of $41,069, plus other benefits taking total remuneration to $46,764. Ms Nieves has an ongoing base salary including superannuation of $250,000.
General manager sales and marketing Robyn Valmadre: $340,000 base salary including superannuation, cash bonus of $66,000 plus other benefits taking total remuneration to $494,638. Former acting CFO Brett Delaney (July 2017-April 2018): salary of $236,250.
Former CFO Paulene Henderson (left July 3, 2017): salary of $68,879, termination pay of $269,446 plus other benefits taking total remuneration to $343,337.
NON-EXECUTIVE DIRECTORS:
Chairman Mark Jewell: $175,000.
David Rennick: $110,000.
Donna Hardman: $110,000.
7. SUNLAND GROUP LIMITED (SDG)
THE veteran development company has the majority of its interests on the Gold Coast, including The Lakes development at Mermaid Waters, a project at the former Greenmount Resort and an ultra-luxurious tower for Hedges Avenue. Profit for the company fell 11 per cent year-on-year, due to falling revenue from property sales.
Financial result 2017-18: $31.3m net profit.
Market capitalisation: $258.61m.
Share price YoY: up 2.25 per cent.
Dividend: 11c franked.
Total executive and board remuneration: $2,052,765.
EXECUTIVES:
Managing director Sahba Abedian: $704,798 in salary, fees and superannuation, plus a short-term employee benefit of $23,228 for total remuneration of $728,026.
CFO Grant Harrison: $320,433 in salary, fees and superannuation, plus a shortterm employee benefit of $23,228 for total remuneration of $343,661.
NON-EXECUTIVE DIRECTORS:
Chairman Soheil Abedian: $750,433 in salary, fees and superannuation, plus a shortterm employee benefit of $23,228 for total remuneration of. Mr Abedian salary sacrificed his salary to the Abedian Foundation.
Ron Eames: $80,000 in salary, fees and superannuation.
Craig Carracher: $80,000 in salary, fees and superannuation.
Christopher Freeman: $80,000 in salary, fees and superannuation.
Rebecca Frizelle (appointed January 15, 2018): $37,101 in salary, fees and superannuation.
8. NATIONAL VETERINARY CARE LTD (NVL)
THIS Ormeau veterinary company boosted its profit by a barking mad 41 per cent off the back of an ongoing acquisitions spree. NVL reported a 26 per cent boost to its statutory revenue to $84.2 million after buying 13 additional veterinary businesses in 12 months, taking its total number to 66 clinics by June 30. The spree has continued in the months since, with the group now operating 92 clinics.
Financial result 2017-18: $6.237m net profit.
Market capitalisation: $138.65m.
Share price YoY: up 12.29 per cent.
Dividend: 3c franked.
Total executive and board remuneration: $1,246,422.
EXECUTIVES:
Managing director and CEO Tomas Steenackers: $329,491 salary and fees, $237,094 cash bonus plus other benefits bringing total remuneration to $794,884.
CFO Jason Beddow (appointed July 3, 2017): $211,538 in salary, fees and superannuation.
NON-EXECUTIVE DIRECTORS:
Chairwoman Susan Forrester: $120,000.
Dr Stephen Coles: $60,000.
Kaylene Gaffney: $60,000.
9. ASF GROUP LIMITED (AFA)
FORMER Gold Coast casino proponent ASF Group turned a profit last financial year, off the back of its property developments and investments in mining exploration projects. The group recorded consolidated profit after tax and non-controlling interest of $1.456 million, compared to a loss of $19.53 million during the previous financial year.
The group’s bottom line was boosted by a $9.08 million payout from the Queensland Government, which axed its plans for an integrated resort and casino on the Gold Coast Spit at Main Beach.
Financial result 2017-18: $1.456 million net profit.
Market capitalisation: $88.05m.
Share price YoY: down 11.76 per cent.
Dividend: $0.
Total executive and board remuneration: FY18 not yet reported, FY17 was $1,431,467.
EXECUTIVE DIRECTORS (FY17):
Chairwoman Min Yang:
$268,123. David Fang: $167,113.
Geoff Baker: $311,113.
Xin Zhang (retired November 25, 2016): $21,900.
Yong Jiang: $89,632.
William Kuan: $185,741.
Louis Chien: $387,845.
10. RETAIL FOOD GROUP LIMITED (RFG)
ONCE a billion-dollar company, Southport-based RFG has endured a horrifying year after widely publicised accusations of damaging its own franchisees with an unsustainable business model. Last month the company behind Donut King, Gloria Jean’s, Pizza Capers and more unveiled a loss more than three times what their guidance said it would be and flagged closure of 250 of its stores. New CEO Richard Hinson has embarked on an ambitious and aggressive turnaround strategy, which seems to have gained some traction with franchises. However, the company faces steep challenges in meeting its debt obligations and its ongoing viability is uncertain.
Financial result 2017-18: $306.7m net loss. Market capitalisation: $84.06m
Share price YoY: down 88.51 per cent
Dividend: $0
Total executive and board remuneration: $4,342,363
EXECUTIVES:
Former managing director Andre Nell (left May 29, 2018): $737,003 salary and fees, $100,000 cash bonus, $750,000 termination payment plus other benefits bringing total remuneration to $1,654,013.
CEO Richard Hinson (appointed in that role May 29, 2018): $219,617 plus other benefits bringing total remuneration to $230,437.
Global head of coffee Darren Dench (appointed in that role December 4, 2017): salary, fees and other benefits for total remuneration of $185,990.
CFO Peter McGettigan: salary and fees of $451,598, cash bonus $55,000 and other benefits for total remuneration of $560,809.
Director corporate services Anthony Mark Connors: salary and fees of $307,266, cash bonus of $46,800 and other benefits for total remuneration of $391,998.
Former chief executive international Michael Gilbert (left September 12, 2018): salary and fees of $342,405, cash bonus of $45,000 and other benefits for total remuneration of $413,283.
Former CEO Gary Alford (left July 3, 2017): salary and fees of $147,847 and other benefits for total remuneration of $165,144.
NON-EXECUTIVE DIRECTORS:
Chairman Colin Archer: $237,462
Jessica Buchanan: $115,461
Stephen Lonie: $140,000 (Ms) Kerry Ryan $120,000
Russell Shields: $120,000
Former non-independent, non-executive director Tony Alford (resigned July 3, 2017): $7766
11. P2P TRANSPORT LTD (P2P)
THIS group listed on the ASX in December and two weeks later bought about half the taxis on the Gold Coast during an acquisition spree that saw its revenue grow by 267 per cent. The costs of those acquisitions, and of its initial public offering,
saw its post a net loss of $37.9 million. P2P is a fleet management company that does not directly own taxi plates or licences, instead leasing them and renting its vehicles. Financial result 2017-18: $37.9m net loss. Market capitalisation: $74.9m. Share price YoY: newly listed. Dividend: $0. Total executive and board remuneration: not reported.
EXECUTIVES:
Executive director and CEO Thomas Varga: not reported. Executive director Harry Katsiabanis: not reported.
NON-EXECUTIVE DIRECTORS:
Chairman Matthew Reynolds (appointed November 22):
not reported.
Chip Beng Yeoh (appointed November 22, 2017): not reported.
Peter Cook (appointed November 22, 2017): not reported.
12. EUREKA GROUP HOLDINGS LIMITED (EGH)
THE Gold Coast retirement village operator announced it was set to limp away from its investment in South Stradbroke Island’s Couran Cove, a move that will cost it $2.89 million in writedowns and contributed to its loss for FY18. The sting was a 104 per cent negative turnaround from the
$6.5 million profit the previous year. It came on the back of a fall in revenue of 11.6 per cent to $23.4 million while earnings crashed 71 per cent to $2.7 million. Financial result 2017-18: $276,000 net loss. Market capitalisation: $57.51m. Share price YoY: down 24.3 per cent. Dividend: $0. Total executive and board remuneration: $1,444,907.
EXECUTIVES:
Executive chairman Murray
Boyte (since April 30, 2018. Previously independent, non-executive chairman): $94,616.
CFO Paul Cochrane: $278,779 salary and fees, $77,568 cash bonus plus other benefits for total remuneration of $394,268. Jeff Weigh (retired May 31, 2018): $143,432 in salary, superannuation and fees.
NON-EXECUTIVE DIRECTORS:
Former non-executive chairman and former nonexecutive director Robin Levison (chaired board until November 23, 2017): $70,000.
Lachlan McIntosh: $60,000. Nirmal Hansra: $60,000.
Sue Renkin (appointed November 24, 2017): $38,846.
13. SMILES INCLUSIVE LIMITED (SIL)
TOTALLY Smiles listed on the ASX as Smiles Inclusive in April after a $35 million initial public offering. Net practice revenue during its first year of operation was $6.055 million, well under the $10.34 million flagged in its forecast, after sales settlements for its 52-practice portfolio took longer than expected. Smiles operates under a partnership model with dentists — individual dentists who sell their clinics remain investors in the business. Financial result 2017-18: $4.987m net loss. Market capitalisation: $57.35m. Share price YoY: newly listed. Dividend: $0. Total executive and board remuneration: $768,561.
EXECUTIVES:
Executive director and CEO Mike Timoney: $247,946 in salary, fees and superannuation.
Executive director and deputy CEO Tracy Penn:
$180,029 in salary, fees and superannuation.
CFO Paul Innes: $206,036 in salary, fees and superannuation. Non-executive directors: Chairman David Herlihy: $81,000. David Usasz: $53,550.
14. INCENTIAPAY LIMITED (INP)
THE company behind Bartercard got a new CEO and changed its name from BPS Technology in the past 12 months, and focused on growing its loyalty and payment services, particularly in the Chinese visitor market. Its eyewatering financial report, featuring an eye-watering $62.2 million loss, was described as “not strong” by chairman Murray d’Almeida, who cited impairments and restructuring for hitting the bottom line. The company is yet to release its full-audited financials and remuneration report. Full accounts are expected in its annual report. Financial result 2017-18: preliminary $62.2m net loss. Market capitalisation: $37.65m. Share price YoY: down 66.22 per cent. Dividend: $0. Total executive and board remuneration: not reported for FY18 but was $2,431,000 in FY17.
EXECUTIVES (FY17):
CEO and managing director Iain Dunstan (appointed September 2017): not reported.
Former CEO Trevor Dietz (left September 2017): $465,000.
Former CFO and executive director Antonie Wiese: $465,000.
Executive director Entertainment Publications Heidi Halson: $298,000. Then-CTO Andrew McIntyre: $236,000.
Then-general manager Susan Minnekeer: $151,000. Then-general manager mobile payments Philip Scott: $153,000.
NON-EXECUTIVE DIRECTORS (FY17):
Chairman Murray d’Almeida:
$109,000. Anthony Lally (resigned November 2016): $62,000. Garth Barrett (appointed February 2017): $27,000. Brian Hall (appointed February 2017): $465,000.
15. COPPERMOLY LIMITED (COY)
THIS gold and copper explorer is yet to release its full-year results for the 2017-18 financial year. Its half-year accounts revealed a net loss of $236,969, which was 14.3 per cent better than the prior corresponding period, but mostly down to written-off expenditure from the previous year. It logged a net loss of $1,395,240 for FY17 with a working capital deficit of $1,236,492. Coppermoly has three exploration licences in Papua New Guinea. Financial result 2017-18: full-year not reported; half year net loss of $236,969. Market capitalisation: $12.4m. Share price YoY: down 60 per cent. Dividend: $0. Total executive and board remuneration: not yet reported for FY18 but totalled $163,800 in FY17.
NON-EXECUTIVE DIRECTORS:
Dr Wanfu Huang: $40,000. Jincheng Yao: $40,000. Kevin Grice: $43,800. Zule Lin: $8858.
16. ICON ENERGY LIMITED (ICN)
THE Broadbeach Waters energy company chose the day of a Federal leadership challenge to release its full-year results, which contained a multimillion-dollar spill for shareholders. The gas explorer has posted losses for at least the past five years, with the $7.8 million sale of its Broadbeach office failing to pull it into the black for 2017-18. The company had to cease all exploration of its tenements in Victoria after that State Government banned fracking to extract gas. During the year, the board reduced the fees paid to non-executive directors by 20 per cent and restricted executive salary increases to CPI. Financial result 2017-18: $4.037 million loss. Market capitalisation: $11.95m. Share price YoY: down 28 per cent. Dividend: $0. Total executive and board remuneration: $1,840,830.
EXECUTIVES:
Managing director Ray
James: salary and fees of $542,755, car allowance of $45,000, plus other benefits for total remuneration of $649,022. CFO Kevin Jih: salary and fees of $413,744, car allowance of $40,000 plus other benefits for total remuneration of $500,083. Exploration manager Martin Berry: salary and fees of $323,963 plus other benefits for total remuneration of $357,147.
NON-EXECUTIVE DIRECTORS:
Chairman Stephen Barry:
$104,463.
Keith Hilless: $77,362. Derek Murphy: $83,768. Howard Lu: $68,985.
17. FRONTIER RESOURCES LIMITED (FNT)
THIS company is newly relevant to the Gold Coast, since the developers of the $1.3 billion Spirit tower, Forise, invested more than $6 million in the mining company. Frontier has interests in two mining exploration projects in Papua New Guinea. Forise took a 67 per cent stake in June and the ASX issued the company with a please-explain over its future operations. Another entity linked to Forise, ACH Investments, bought an additional 9.58 per cent slice of Frontier the same day. The stock exchange queried speculation over a “change of activities” for the mining explorer, which said “exploration work at its projects in Papua New Guinea is unchanged.” Financial result 2017-18: not reported. Market capitalisation: $5.87m. Share price YoY: down 53.5 per cent. Dividend: $0. Total executive and board remuneration: not reported.
EXECUTIVES:
Not reported. Actual fees for non-executive directors are not yet reported but the company has said it had fixed director fees at $30,000 per annum plus superannuation. Directors include Gold Coast lawyer Tony
Hickey, Forise Investment Australia CEO Yunwei Fenix
Dong and Forise International
boss Fei Peng.
18. AQUIS ENTERTAINMENT LIMITED (AQS)
AQUIS Entertainment is the ASX-listed arm of Aquis Australia, the group which runs Aquis Farm at Canungra, is partner in the prime Surfers Paradise development site that used to host the Vomatron ride, and is also developing a $440 million hotel on the Surfers beachfront. The listed Aquis Entertainment is operator of a casino in Canberra, where it is progressing a $330 million upgrade. AQS reports on the calendar year instead of the financial year. Financial result calendar 2017: $13.81m loss. Market capitalisation: $5.18m. Share price YoY: down 30 per cent. Dividend: $0. Total executive and board remuneration: $1,451,682.
EXECUTIVES (FY17):
Executive director and CEO Jessica Mellor (resigned
August 21, 2018): $368,754 salary, $112,500 bonus, plus other benefits for total remuneration of $578,366. Former vice president and general manager Rhiannon Bach: $250,000 salary, $62,500 bonus plus other benefits for total remuneration of $384,273. Former CFO Garry Gill (resigned May 2017):
$107,787 salary, plus other benefits for total remuneration of $126,699. Executive director Allison Gallaugher (appointed March 24, 2017): $114,423 salary, $18,862 bonus, plus other benefits for total remuneration of $144,155.
NON-EXECUTIVE DIRECTORS (FY17):
Chairman Tony Fung: $0. Former vice chairman Raymond or Ching Fai (resigned December 31, 2017): $0.
Justin Fung: $0.
Alex Chow: $104,583. Russell Shields: $$113,606.
19. RAPTIS GROUP LIMITED (RPG)
THE listed entity of Jim Raptis’s development operations carries out a small portion of the developer’s projects, booking a $529,200 net profit, after selling $25 million worth of units at Springwood. Mr Raptis is locked in a court battle with the Queensland building regulator, which is seeking to cancel his builder licence, which Mr Raptis told the court would jeopardise $47 million worth of projects. Raptis Group, however, has told shareholders they have nothing to worry about as those projects aren’t relevant to them. Financial result 2017-18: $529,200 preliminary net profit. Market capitalisation: $4.44m. Share price YoY: 16.67 per cent. Dividend: $0. Total executive and board remuneration: not reported for FY18 and $0 reported in FY17.
EXECUTIVES:
Chairman, managing director
CEO James Raptis: not reported for FY18 and $0 reported in FY17.
CFO Malcolm Cory: not reported for FY18 and $0 reported in FY17.
NON-EXECUTIVE DIRECTOR:
Helen Raptis: not reported for FY18 and $0 reported in FY17.
20. AEERIS LTD (AER)
THIS software company logged a $2.04 million loss in 2016-17, so its $50,254 profit for the past financial year is a comparatively good result. Aeeris undertook a business review mid-2017, stripping $100,000/month of costs and focusing on stabilising operations. The company is behind the Early Warning Network, which monitors and communicates potential natural disasters for customers including government agencies and councils.
Financial result 2017-18: $50,254 net profit. Market capitalisation: $2.95m. Share price YoY: up 33.33 per cent. Dividend: $0. Total executive and board remuneration: $196,463. EXECUTIVES:
Executive chairman and CEO Kerry Plowright: $116,500 salary and $15,000 in shares for total of $131,500.
Executive director Ben Loiterton (resigned): $14,463 salary and $15,000 in shares for total of $29,463.
NON-EXECUTIVE DIRECTORS:
Bryce Reynolds: $12,000 in fees and $15,000 in shares for total of $27,000. Nahan Young: $8500. This data is taken from company documents lodged with the ASX and on company websites. As different companies express their results differently, care must be taken when interpreting comparisons. Market capitalisation correct as of market open on Monday, September 10, 2018.