COVENTRY GROUP LIMITED - Annual Report 2008

COVENTRY GROUP LTD

^_k= PT= MMU= STM= NMO

C O N C I S E A N N U A L R E P O R T

ifh=ebob=clo=`lkqbkqp

FIVE YEAR FINANCIAL OVERVIEW

				AIFRS1				AGAAP1
YEAR ENDED 30 JUNE		2008	2007	% Change		2006	2005	2004
oÉîÉåìÉÑêçãë~äÉçÑÖççÇë	EAjF	448.8	QSUKP	QKO	▼	RMOKM	QTMKU	QPPKV
mêçÑáíÄÉÑçêÉí~ñO	EAjF	8.4	NKV	PQOKN	▲	NQKT	OQKN	ONKV
mêçÑáíLEäçëëF~ÑíÉêí~ñP	EAjF	6.9	ENKOF	STRKM	▲	VKS	NTKT	NRKO
kÉí~ëëÉíë	EAjF	172.9	NSUKN	OKV	▲	NSSKQ	NSUKR	NSVKV
pÜ~êÉÜçäÇÉêëÛÉèìáíóQ	EAjF	170.2	NSRKP	PKM	▲	NSPKS	NSRKR	NSTKM
b~êåáåÖëLEäçëëFéÉêëÜ~êÉR	EÅÉåíëF	16.6	EPKUF	RPSKU	▲	OSKN	QUKV	QOKR
aáîáÇÉåÇëéÉêëÜ~êÉS	EÅÉåíëF	-	NT	NMMKM	▼	PR	PS	PQ
kÉíí~åÖáÄäÉ~ëëÉíëéÉêëÜ~êÉ	EAF	3.24	PKON	MKV	▲	PKNN	PKTR	QKNR
léÉê~íáåÖÅ~ëÜÑäçï	EAjF	11.8	NMKM	NUKM	▲	OKN	NOKR	OMKO
oÉíìêåçåÉèìáíóT	EBF	4.4	UKM	QRKM	▼	UKN	UKT	UKV
kÉíáåíÉêÉëíÄÉ~êáåÖÇÉÄí	EAjF	45.8	TRKR	PVKP	▼	TSKQ	NQKM	NOKR
dÉ~êáåÖEåÉíÇÉÄííçÉèìáíóF	EBF	26.5	QQKV	QNKM	▼	QRKV	UKP	TKP
fåíÉêÉëíÅçîÉê	EíáãÉëF	2.5	QKV	QVKM	▼	TKN	NQKO	ONKM
pÜ~êÉéêáÅÉEPMgìåÉF	EAF	1.91	QKRM	RTKS	▼	QKOM	RKUM	RKTO
j~êâÉíÅ~éáí~äáë~íáçåEPMgìåÉF	EAjF	75.3	NTTKP	RTKS	▼	NRNKM	OMRKT	OMMKT

1 OMMR=Ó=OMMU=êÉëìäíë=Ü~îÉ=ÄÉÉå=éêÉé~êÉÇ=ìåÇÉê=^fcop=~åÇ=íÜÉ=OMMQ=êÉëìäíë=Ü~îÉ=ÄÉÉå=éêÉé~êÉÇ=ìåÇÉê=^d^^m
2 ÄÉÑçêÉ=ãáåçêáíó=áåíÉêÉëí
3 ~ÑíÉê=ãáåçêáíó=áåíÉêÉëí
4 ÉñÅäìÇÉë=ãáåçêáíó=áåíÉêÉëí
5 Ä~ëáÅ

About Coventry Group

çîÉåíêó=dêçìé=iíÇ=ï~ë=áåÅçêéçê~íÉÇ=áå=NVPS=~åÇ=Ü~ë ÄÉÉå=äáëíÉÇ=çå=íÜÉ=^ìëíê~äá~å=píçÅâ=bñÅÜ~åÖÉ=ëáåÅÉ=NVSS E^pu=çÇÉW=`vdFK==tÉ=Éãéäçó=~êçìåÇ=NITQM=éÉçéäÉ=~åÇ çéÉê~íÉ=íÜêçìÖÜçìí=^ìëíê~äá~=~åÇ=kÉï=wÉ~ä~åÇ=ïáíÜ=~= åÉíïçêâ=çÑ=NNV=äçÅ~íáçåëK

lìê=éêáåÅáé~ä=~ÅíáîáíáÉë=~êÉW

ÇáëíêáÄìíáçå=çÑ=áåÇìëíêá~ä=éêçÇìÅíëX=
Ó
ÇáëíêáÄìíáçå=çÑ=~ìíçãçíáîÉ=é~êíë=~åÇ=~ÅÅÉëëçêáÉëX=~åÇ
Ó

ã~åìÑ~ÅíìêÉ=çÑ=~ìíçãçíáîÉ=~åÇ=áåÇìëíêá~ä=Ö~ëâÉíëK

	Contents
	vÉ~êáå_êáÉÑ	N
	lîÉêîáÉïçÑ_ìëáåÉëëråáíë	O
	bñÉÅìíáîÉ`Ü~áêã~åÛëoÉéçêí	Q
	_ç~êÇçÑaáêÉÅíçêë	U
	`çåÅáëÉcáå~åÅá~äoÉéçêíJaÉí~áäÉÇfåÇÉñ fåÇÉéÉåÇÉåí^ìÇáíçêÛëoÉéçêí	V RU
	iÉ~Ç^ìÇáíçêÛëfåÇÉéÉåÇÉåÅÉaÉÅä~ê~íáçå	RV
	pÜ~êÉÜçäÇÉêfåÑçêã~íáçå	SM
	`çêéçê~íÉaáêÉÅíçêó	SN

6 ÉñÅäìÇÉë=ëéÉÅá~ä=ÇáîáÇÉåÇë
7 ÄÉÑçêÉ=ëáÖåáÑáÅ~åí=áíÉãë

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

2008 YEAR IN BRIEF

FINANCIAL

√ êÉîÉåìÉ=çÑ=AQURKR=ãáääáçå= EOMMT=J=AROSKQ=ãáääáçåF
√ åÉí=éêçÑáíLEäçëëF=~ÑíÉê=í~ñ=çÑ=ASKV=ãáääáçå EOMMT=J=AENKOF=ãáääáçåF
√ É~êåáåÖëLEäçëëF=éÉê=ëÜ~êÉ=çÑ=NSKS=ÅÉåíë EOMMT=J=EPKUF=ÅÉåíëF
√ åçêã~äáëÉÇ=éêçÑáí=ÄÉÑçêÉ=áåíÉêÉëí=~åÇ=í~ñG çÑ=ANMKN=ãáääáçå=EOMMT=J=AOQKP=ãáääáçåF
√ åçêã~äáëÉÇ=éêçÑáí=~ÑíÉê=í~ñ=çÑ= ATKS=ãáääáçå=EOMMT=J=ANPKQ=ãáääáçåF
√ åçêã~äáëÉÇ=É~êåáåÖë=éÉê=ëÜ~êÉ=çÑ= NUKP=ÅÉåíë=EOMMT=J=PR=ÅÉåíëF
√ åç=ÇáîáÇÉåÇ=é~áÇ=EOMMT=J=NT=ÅÉåíëF
normalised profit before interest and tax excludes net gain on sale of businesses of $1.5 million (2007 - $3 million), net gain on sale of “ bitumen ” land and buildings of $7 million (2007 - nil); relocation costs of distribution centre in Western Australia of
$3.4 million (2007 - nil); additional stock provisions of $4.2 million (2007 - nil); costs of restructuring of $1.9 million (2007 - $0.7 million); impairment of nil (2007 - $8.8 million); writedown of Company IT systems and related expenses of nil (2007 - $10.4 million) and executive termination payment of nil (2007 - $0.5 million).

OPERATIONS

√ ë~äÉ=çÑ=~ìíçãçíáîÉ=çéÉê~íáçåë=áå nìÉÉåëä~åÇ
√ ë~äÉ=çÑ=~ìíçãçíáîÉ=çéÉê~íáçåë=áå kçêíÜÉêå=qÉêêáíçêó
√ ÇáîÉëíãÉåí=çÑ=ëìêéäìë=ÑêÉÉÜçäÇ=éêçéÉêíó ~ëëçÅá~íÉÇ=ïáíÜ=íÜÉ=ÑçêãÉê=ÄáíìãÉå ÄìëáåÉëë
√ Éñé~åëáçå=çÑ=íÜÉ=`ççéÉê=cäìáÇë=póëíÉãë Çáîáëáçå=áåíç=pçìíÜ=^ìëíê~äá~=~åÇ=sáÅíçêá~

Basic earnings per share (cents)

==> picture [126 x 60] intentionally omitted <==

----- Start of picture text -----

2004 42.5
2005 48.9
2006 26.1
2007 (3.8)
2008 16.6
----- End of picture text -----

Revenue ($ million)

2004	433.9
2005	470.8
2006	502.0
2007	468.3
2008	448.8
	Return on equity(%)
2004	8.9
2005	8.7
2006	8.1
2007	8.0
2008	4.4
	Profit/(loss) after tax($ million)
2004	15.2
2005	17.7
2006	9.6
2007	(1.2)
2008	6.9

==> picture [32 x 32] intentionally omitted <==

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

OVERVIEW OF BUSINESS UNITS

INDUSTRIAL

Principal Activities

√ ÇáëíêáÄìíáçå=~åÇ=ã~êâÉíáåÖ=çÑW
- áåÇìëíêá~ä=~åÇ=ÅçåëíêìÅíáçå=Ñ~ëíÉåÉêë=áåÅäìÇáåÖ=ÄçäíëI åìíë=~åÇ=ëÅêÉïëX=~åÇ
Ó
- ÖÉåÉê~ä=áåÇìëíêá~ä=éêçÇìÅíëK
Ó
√ ÇáëíêáÄìíáçåI=ÇÉëáÖå=~åÇ=áåëí~ää~íáçå=çÑ=äìÄêáÅ~íáçå=~åÇ ÜóÇê~ìäáÅë=ÑäìáÇ=ëóëíÉãëI=ÜçëÉ=~åÇ=ÑáííáåÖë=éêçÇìÅíëK

AUTOMOTIVE

Principal Activities

√ ÇáëíêáÄìíáçå=~åÇ=ã~êâÉíáåÖ=çÑW
Ó ~ìíçãçíáîÉ=é~êíë=~åÇ=~ÅÅÉëëçêáÉëI=íççäëI=ïçêâëÜçé ÉèìáéãÉåíX
Ó ãáåáåÖ=~åÇ=ÖÉåÉê~ä=áåÇìëíêá~ä=Åçåëìã~ÄäÉëX=~åÇ
- ëéÉÅá~äáëÉÇ=íê~åëéçêí=~åÇ=ÜÉ~îó=Ü~ìä~ÖÉ=éêçÇìÅíëK
Ó

GASKETS

Principal Activities

√ ã~åìÑ~ÅíìêÉ=~åÇ=ÇáëíêáÄìíáçå=çÑ=~ìíçãçíáîÉ=~åÇ= áåÇìëíêá~ä=Ö~ëâÉíëK
√ áãéçêí~íáçåI=ÇáëíêáÄìíáçå=~åÇ=ã~êâÉíáåÖ=çÑ=Ü~êÇï~êÉI ÅçãéçåÉåíë=~åÇ=ÑáåáëÜÉÇ=éêçÇìÅíë=íç=íÜÉ=ÇçãÉëíáÅ=~åÇ ÅçããÉêÅá~ä=ÑìêåáíìêÉI=Å~ÄáåÉí=ã~âáåÖI=àçáåÉêó=~åÇ=ëÜçé ÑáííáåÖ=áåÇìëíêáÉëX=çÑÑáÅÉ=ÅÜ~áê=ÅçãéçåÉåíëK

Year In Brief

√ ëíêçåÖ=Ñáå~åÅá~ä=éÉêÑçêã~åÅÉ=Äó=ÑäìáÇë=ÄìëáåÉëëK
√ Éñé~åëáçå=çÑ=ÑäìáÇë=ÄìëáåÉëë=áåíç=p^=~åÇ=sf`K
√ ëíêçåÖ=Ñáå~åÅá~ä=éÉêÑçêã~åÅÉ=Äó=Ñ~ëíÉåÉêë=áå=t^I=nia ~åÇ=kwK
√ êÉîáëÉÇ=ã~å~ÖÉãÉåí=ëíêìÅíìêÉ=ïáíÜ=åÉï=dÉåÉê~ä j~å~ÖÉê=Ñçê=Ñ~ëíÉåÉêë=~åÇ=ÑäìáÇë=Çáîáëáçåë=éêçãçíÉÇ Ñêçã=ïáíÜáå=íÜÉ=`çãé~åóK
√ ìåë~íáëÑ~Åíçêó=íê~ÇáåÖ=éÉêÑçêã~åÅÉ=Äó=íÜÉ=Å~ÄáåÉí=~åÇ ÑìêåáíìêÉ=Ü~êÇï~êÉ=ÇáîáëáçåX=ÄìëáåÉëë=åçï=áåíÉÖê~íÉÇ ïáíÜ=åÉï=Äê~åÇáåÖ=Ó=^êíá~K

Year In Brief

√ ÇáîÉëíãÉåí=çÑ=~ìíçãçíáîÉ=çéÉê~íáçåë=áå=nia=~åÇ=kqK
√ ìåë~íáëÑ~Åíçêó=çîÉê~ää=íê~ÇáåÖ=éÉêÑçêã~åÅÉ=ã~áåäó= ÅçåíêáÄìíÉÇ=Äó=íÜÉ=t^=Çáîáëáçå=çÑ=`çîÉåíêóëK
√ áãéêçîÉÇ=éÉêÑçêã~åÅÉ=çå=íÜÉ=éêáçê=óÉ~ê=Äó=íÜÉ=p^= ÇáîáëáçåI=jçíçê=qê~ÇÉêëK
√ êçääJçìí=çÑ=lê~ÅäÉ=áåÑçêã~íáçå=íÉÅÜåçäçÖó=éä~íÑçêã ÅçãéäÉíÉÇK

Year In Brief

√ áãéêçîÉÇ=éêçÑáí~Äáäáíó=~ÅÜáÉîÉÇK √ ëíêçåÖ=Åçëí=Åçåíêçä=ã~áåí~áåÉÇK √ áãéêçîÉÇ=ÅçãéÉíáíáîÉ=éçëáíáçåK
√ êçääJçìí=çÑ=lê~ÅäÉ=áåÑçêã~íáçå=íÉÅÜåçäçÖó=éä~íÑçêã ä~êÖÉäó=ÅçãéäÉíÉÇ=ïáíÜ=çåäó=íÜÉ=ÑäìáÇë=Çáîáëáçå=~åÇ=kw= êÉã~áåáåÖK

Financial

Financial[1]

Financial

2008 2007 % Change p~äÉëEAjF OTOKT ORUKS HRKR b_fqJåçêã~äáëÉÇEAjF ONKQ OOKV JSKS b_fqLp~äÉëj~êÖáåEBF TKU UKV JNOKQ `~éáí~äbãéäçóÉÇEAjF<br>NNMKT<br>NMTKU<br>HOKT<br>oÉíìêåçå`~éáí~ä bãéäçóÉÇEBFN NVKP ONKO JVKM Nb_fqL~ëëÉíëäÉëëÅêÉÇáíçêë~åÇéêçîáëáçåë bãéäçóÉÉë VUS EáåÅäìÇáåÖNRMáåkwF páíÉë UP EáåÅäìÇáåÖNSáåkwF	2008 2007 % Change p~äÉëEAjF NSUKP OMPKS JNTKP b_fqJåçêã~äáëÉÇEAjF EUKSF OKU JQMTKN b_fqLp~äÉëj~êÖáåEBF ERKNF NKQ JQSQKP `~éáí~äbãéäçóÉÇEAjF<br>RPKS<br>RRKO<br>JOKV<br>oÉíìêåçå`~éáí~ä bãéäçóÉÇEBFO ENSKMF RKN JQNPKT NbñÅäìÇÉëÇáëÅçåíáåìÉÇçéÉê~íáçåëOb_fqL~ëëÉíëäÉëëÅêÉÇáíçêë~åÇéêçîáëáçåë bãéäçóÉÉë TRM páíÉë PQ	2008 2007 % Change
		p~äÉëEAjF NNKS NNKN HQKR
		b_fqEAjF OKM NKO HSSKT
		b_fqLp~äÉëj~êÖáåEBF NSKV NMKT HRTKV
		`~éáí~äbãéäçóÉÇEAjF UKV VKM JNKN
		oÉíìêåçå`~éáí~ä bãéäçóÉÇN ONKV NPKP HSQKT
		Nb_fqL~ëëÉíëäÉëëÅêÉÇáíçêë~åÇéêçîáëáçåë bãéäçóÉÉë SM EáåÅäìÇáåÖNMáåkwF páíÉë O EáåÅäìÇáåÖNáåkwF

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

EXECUTIVE CHAIRMAN’S REPORT

aÉ~ê=pÜ~êÉÜçäÇÉê

lå=ÄÉÜ~äÑ=çÑ=óçìê=ÇáêÉÅíçêë=f=éêÉëÉåí=íÜÉ=`çîÉåíêó=dêçìéÛë OMMU=^ååì~ä=oÉéçêíK

Financial Performance

cçê=íÜÉ=Ñìää=óÉ~ê=íÜÉ=dêçìé=êÉÅçêÇÉÇ=~=åÉí=éêçÑáí=çÑ=ASKV ãáääáçå=Åçãé~êÉÇ=íç=~=äçëë=çÑ=ANKO=ãáääáçå=Ñçê=íÜÉ=éêáçê óÉ~êK==eçïÉîÉêI=íÜáë=êÉëìäí=ï~ë=áãé~ÅíÉÇ=Äó=~=åìãÄÉê=çÑ ã~íÉêá~ääó=ëáÖåáÑáÅ~åí=áíÉãëI=å~ãÉäóI=Ö~áå=çå=íÜÉ=ë~äÉ=çÑ= ëìêéäìë=ä~åÇ=~åÇ=ÄìáäÇáåÖë=çÑ=AT=ãáääáçåI=éêçÑáí=çå=ë~äÉ=çÑ ~ìíçãçíáîÉ=ÄìëáåÉëëÉë=áå=nìÉÉåëä~åÇ=~åÇ=kçêíÜÉêå qÉêêáíçêó=çÑ=ANKR=ãáääáçåI=Åçëíë=~ëëçÅá~íÉÇ=ïáíÜ=íÜÉ= êÉäçÅ~íáçå=çÑ=íÜÉ=tÉëí=^ìëíê~äá~å=ÇáëíêáÄìíáçå=ÅÉåíêÉ=çÑ= APKQ=ãáääáçåI=~ÇÇáíáçå~ä=ëíçÅâ=éêçîáëáçåë=çÑ=AQKO=ãáääáçå=~åÇ Åçëíë=çÑ=ÅäçëìêÉLÉñáíáåÖ=ÄìëáåÉëëÉë=çÑ=ANKV=ãáääáçåK

^ÑíÉê=~ääçïáåÖ=Ñçê=íÜÉëÉ=ëáÖåáÑáÅ~åí=áíÉãë=íÜÉ=ìåÇÉêäóáåÖ çéÉê~íáåÖ=éêçÑáí=ÄÉÑçêÉ=áåíÉêÉëí=~åÇ=í~ñ=ï~ë=~å= ìåë~íáëÑ~Åíçêó=çìíÅçãÉ=çÑ=ANOKT=ãáääáçå=Åçãé~êÉÇ=íç AOQKQ=ãáääáçå=Ñçê=íÜÉ=éêáçê=óÉ~ê=EÄ~ëÉÇ=çå=ÅçåíáåìáåÖ= çéÉê~íáçåëFK==qÜáë=çìíÅçãÉ=ï~ë=ã~áåäó=áãé~ÅíÉÇ=Äó=íÜÉ ~ÇîÉêëÉ=íê~ÇáåÖ=êÉëìäí=çÑ=íÜÉ=~ìíçãçíáîÉ=ÄìëáåÉëë=ìåáíI=ïÜáÅÜ êÉÅçêÇÉÇ=~=NTKPB=Çêçé=áå=êÉîÉåìÉ=~ÑíÉê=~ääçïáåÖ=Ñçê=íÜÉ ë~äÉ=çÑ=íÜÉ=nìÉÉåëä~åÇ=~åÇ=kçêíÜÉêå=qÉêêáíçêó=çéÉê~íáçåëK

póëíÉã=áãéäÉãÉåí~íáçå=éêçÄäÉãë=~åÇ=éêçÅÉëë=áëëìÉë=~í=íÜÉ åÉï=tÉëí=^ìëíê~äá~å=ÇáëíêáÄìíáçå=ÅÉåíêÉ=ïÜáÅÜ=áå=íìêå= åÉÖ~íáîÉäó=áãé~ÅíÉÇ=ëÉêîáÅÉ=äÉîÉäë=ïÉêÉ=íÜÉ=âÉó=Ñ~Åíçêë Å~ìëáåÖ=íÜÉ=Ñ~ää=áå=êÉîÉåìÉ=Ñçê=íÜÉ=~ìíçãçíáîÉ=ÄìëáåÉëëK qÜÉ=áåÇìëíêá~ä=ÄìëáåÉëë=ìåáíI=é~êíáÅìä~êäó=íÜÉ=ÑäìáÇë=ÇáîáëáçåI êÉÅçêÇÉÇ=~=ëíêçåÖ=éÉêÑçêã~åÅÉK==qÜÉ=Ö~ëâÉíë=ÄìëáåÉëë=~äëç ~ÅÜáÉîÉÇ=~=ÖççÇ=êÉëìäí=ïáíÜ=~=ëáÖåáÑáÅ~åíäó=áãéêçîÉÇ=éêçÑáíK

aìêáåÖ=íÜÉ=óÉ~ê=ïÉ=åÉÖçíá~íÉÇ=íç=Éñáí=ÄìëáåÉëëÉë=ïÜáÅÜ ïÉêÉ=äçëë=ã~âáåÖ=çê=éÉêÑçêãáåÖ=ã~êÖáå~ääóK==^ë=~= ÅçåëÉèìÉåÅÉ=ïÉ=~ÅÜáÉîÉÇ=íÜÉ=ÇáîÉëíãÉåí=çÑ=íÜÉ nìÉÉåëä~åÇ=~åÇ=kçêíÜÉêå=qÉêêáíçêó=~ìíçãçíáîÉ=ÄìëáåÉëëÉë ïÜáÅÜ=êÉëìäíÉÇ=áå=~=ëã~ää=åÉí=Ö~áå=íç=çìê=Äççâ=Å~êêóáåÖ= î~äìÉëK

qÜÉ=êçää=çìí=çÑ=íÜÉ=lê~ÅäÉ=áåÑçêã~íáçå=íÉÅÜåçäçÖó=éä~íÑçêã áë=åçï=ä~êÖÉäó=ÅçãéäÉíÉÇ=ïáíÜ=~=ã~àçê=ÇáîáëáçåI=çìê= Ñ~ëíÉåÉêë=ÄìëáåÉëë=áå=nìÉÉåëä~åÇI=ÄÉáåÖ=ëìÅÅÉëëÑìääó= áåíÉÖê~íÉÇ=áå=^ìÖìëí=OMMU=~åÇ=çåäó=íÜÉ=kÉï=wÉ~ä~åÇ=~åÇ ÑäìáÇë=ÄìëáåÉëëÉë=êÉã~áåáåÖ=íç=ÄÉ=ÅçåîÉêíÉÇK

Gearing and Cash Flow

qÜÉ=ÑçääçïáåÖ=í~ÄäÉ=ëÜçïë=âÉó=Ç~í~=êÉä~íáåÖ=íç=íÜÉ=dêçìéÛë ÖÉ~êáåÖ=~åÇ=Å~ëÜ=ÑäçïW

Year Ended	30 June 2008	30 June 2007
léÉê~íáåÖ`~ëÜcäçïEAjF kÉífåíÉêÉëí_É~êáåÖaÉÄíEAjF kÉíaÉÄíLbèìáíóEBF	NNKU QRKU OSKR	NMKM TRKR QQKV
fåíÉêÉëí`çîÉêEíáãÉëF	OKR	QKV

aìêáåÖ=íÜÉ=óÉ~ê=~=ëáÖåáÑáÅ~åí=êÉÇìÅíáçå=EPVBF=áå=íÜÉ dêçìéÛë=åÉí=ÇÉÄí=ï~ë=~ÅÜáÉîÉÇK==qÜáë=ï~ë=ã~áåäó=~ííêáÄìíÉÇ íç=íÜÉ=ë~äÉ=çÑ=~=åìãÄÉê=çÑ=dêçìé=~ëëÉíëK

tÉ=~êÉ=ÅìêêÉåíäó=ìåÇÉêí~âáåÖ=~=ã~àçê=êÉîáÉï=çÑ=çìê ~ÅÅçìåíë=êÉÅÉáî~ÄäÉ=éêçÅÉëëÉë=~åÇ=ïÉ=~åíáÅáé~íÉ=íÜ~í=íÜáë ëÜçìäÇ=Ñ~îçìê~Ääó=áãé~Åí=íÜÉ=Å~ëÜ=Ñäçï=éçëáíáçåK==tÉ=~êÉ ~äëç=éìêëìáåÖ=íÜÉ=ë~äÉ=çÑ=~=åìãÄÉê=çÑ=ÑêÉÉÜçäÇ=éêçéÉêíáÉëI Éå~ÄäáåÖ=íÜÉ=dêçìé=íç=ÑìêíÜÉê=êÉÇìÅÉ=ÇÉÄí=áå=íÜÉëÉ= ìåëÉííäÉÇ=Ñáå~åÅá~ä=íáãÉëK

Dividend

qÜÉ=ÇáêÉÅíçêë=Ü~îÉ=ÇÉÅáÇÉÇ=íÜ~í=åç=Ñáå~ä=ÇáîáÇÉåÇ=ÄÉ ÇÉÅä~êÉÇ=Ñçê=íÜÉ=OMMTLMU=Ñáå~åÅá~ä=óÉ~ê=áå=äáÖÜí=çÑ=íÜÉ=éççê íê~ÇáåÖ=êÉëìäíëK==qÜÉ=ÇáêÉÅíçêë=êÉã~áå=ãáåÇÑìä=çÑ=íÜÉ=ä~êÖÉ AOMKV=ãáääáçå=Ñê~åâáåÖ=~ÅÅçìåí=Ä~ä~åÅÉ=~åÇ=áåíÉåÇ=íç êÉëìãÉ=é~óáåÖ=ÇáîáÇÉåÇë=~ë=ëççå=~ë=éê~ÅíáÅ~ÄäÉK

Board Composition

^ë=éêÉÑ~ÅÉÇ=áå=ä~ëí=óÉ~êÛë=êÉéçêíI=jê=oçëë=jÅiÉ~å=êÉíáêÉÇ Ñêçã=íÜÉ=_ç~êÇ=~í=íÜÉ=OMMT=^djK==qÜÉ=Å~ëì~ä=î~Å~åÅó=ï~ë ÑáääÉÇ=ïáíÜ=íÜÉ=~ééçáåíãÉåí=çÑ=jê=gçÜå=káÅâëçå=~ë=~=åçåJ ÉñÉÅìíáîÉ=ÇáêÉÅíçêK==jê=káÅâëçå=Ü~ë=ëáÖåáÑáÅ~åí=ÉñéÉêáÉåÅÉ áå=íÜÉ=Ñáå~åÅá~ä=ëÉêîáÅÉë=ëÉÅíçê=Ü~îáåÖ=ïçêâÉÇ=Ñçê=íÜÉ ã~àçêáíó=çÑ=Üáë=Å~êÉÉê=ïáíÜ=g_tÉêÉ=~åÇ=dçäÇã~å=p~ÅÜë g_tÉêÉK==eÉ=ÄêáåÖë=ëíêçåÖ=Å~éáí~ä=ã~êâÉíë=ÉñéÉêíáëÉ=íç=íÜÉ _ç~êÇK==aìêáåÖ=íÜÉ=óÉ~ê=íÜÉ=åìãÄÉê=çÑ=ÇáêÉÅíçêë=áåÅêÉ~ëÉÇ Ñêçã=Ñçìê=íç=ÑáîÉ=ïáíÜ=íÜÉ=~ééçáåíãÉåí=çÑ=jê=sáåÅÉ pÅáÇçåÉ=~ë=~å=ÉñÉÅìíáîÉ=ÇáêÉÅíçêK==jê=pÅáÇçåÉ=áë=íÜÉ=dêçìé dÉåÉê~ä=j~å~ÖÉê=çÑ=íÜÉ=`çãé~åóÛë=áåÇìëíêá~ä=éêçÇìÅíë ÄìëáåÉëë=ìåáí=~åÇ=Ü~ë=ëìÅÅÉëëÑìääó=äÉÇ=íÜáë=ÄìëáåÉëë=ëáåÅÉ NVVSK

qÜÉ=Åçãéçëáíáçå=çÑ=íÜÉ=Äç~êÇ=áë=êÉîáÉïÉÇ=çå=~å=çåÖçáåÖ Ä~ëáë=íç=ÉåëìêÉ=íÜÉ=ëáòÉ=~åÇ=ëâáää=ãáñ=áë=~ééêçéêá~íÉ=Ñçê=íÜÉ `çãé~åóK

få=~ÅÅçêÇ~åÅÉ=ïáíÜ=íÜÉ=`çãé~åóÛë=ÅçåëíáíìíáçåI=jÉëëêë káÅâëçå=~åÇ=pÅáÇçåÉ=ïáää=êÉíáêÉ=~í=íÜÉ=ÑçêíÜÅçãáåÖ=^djK _çíÜ=~êÉ=ÉäáÖáÄäÉ=Ñçê=êÉJÉäÉÅíáçå=~åÇ=íÜÉó=éìí=íÜÉãëÉäîÉë Ñçêï~êÇK==qÜÉ=êÉã~áåáåÖ=Äç~êÇ=ãÉãÄÉêë=Ü~îÉ=ëíêçåÖäó= êÉÅçããÉåÇÉÇ=íÜÉáê=êÉJÉäÉÅíáçåK

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

EXECUTIVE CHAIRMAN’S REPORT (CONTINUED)

Operations Review

Industrial Products Distribution

oÉîÉåìÉ=Ñçê=íÜÉ=áåÇìëíêá~ä=éêçÇìÅíë=ÄìëáåÉëë=ìåáí=áåÅêÉ~ëÉÇ RKRB=íç=AOTOKT=ãáääáçåK==mêçÑáí=ÄÉÑçêÉ=áåíÉêÉëí=~åÇ=í~ñ=çÑ AOMKV=ãáääáçå=ï~ë=Ççïå=UKRB=çå=íÜÉ=éêÉîáçìë=óÉ~êK

qÜÉ=ÑäìáÇë=ÄìëáåÉëë=êÉÅçêÇÉÇ=~=ëíêçåÖ=Ñáå~åÅá~ä=êÉëìäí=~ë=~ ÅçåëÉèìÉåÅÉ=çÑ=íÜÉ=Äìçó~åí=ãáåáåÖ=~åÇ=êÉëçìêÅÉë=ëÉÅíçêë áå=tÉëíÉêå=^ìëíê~äá~=~åÇ=kçêíÜ=nìÉÉåëä~åÇK==aìêáåÖ=íÜÉ óÉ~êI=íÜÉ=ÄìëáåÉëë=ïÜáÅÜ=íê~ÇÉë=~ë=`ççéÉê=cäìáÇ=póëíÉãëI Éñé~åÇÉÇ=áíë=~ÅíáîáíáÉë=íç=pçìíÜ=^ìëíê~äá~=~åÇ=sáÅíçêá~=~åÇ åçï=êÉéêÉëÉåíë=ëìÄëí~åíá~ääó=~=å~íáçå~ä=çéÉê~íáçåK

qÜÉ=Ñ~ëíÉåÉê=ÄìëáåÉëë=~ÅÜáÉîÉÇ=ÖççÇ=éÉêÑçêã~åÅÉë=áå tÉëíÉêå=^ìëíê~äá~=~åÇ=nìÉÉåëä~åÇK==eçïÉîÉêI=~=ëçÑíÉåáåÖ áå=íÜÉ=ÅçåëíêìÅíáçå=ã~êâÉí=êÉëìäíÉÇ=áå=çìíÅçãÉë=íÜ~í=ïÉêÉ ÄÉäçï=ÉñéÉÅí~íáçåë=Ñçê=íÜÉ=çíÜÉê=pí~íÉëK==lîÉê~ää=íÜÉ= ÄìëáåÉëë=áå=kÉï=wÉ~ä~åÇ=éÉêÑçêãÉÇ=ïÉää=ÖáîÉå=íÜÉ=ÖÉåÉê~ä ïÉ~âåÉëë=áå=íÜÉ=ÉÅçåçãóK

qÜÉ=áåíÉÖê~íáçå=çÑ=íÜÉ=Å~ÄáåÉí=ÑìêåáíìêÉ=~åÇ=Ü~êÇï~êÉ= Çáîáëáçå=ï~ë=ÅçãéäÉíÉÇ=ïáíÜ=íÜÉ=ä~ìåÅÜ=çÑ=áíë=åÉï= Äê~åÇáåÖ=Ó=^êíá~K==qÜÉ=Çáîáëáçå=Ü~Ç=~=ÇáëêìéíÉÇ=óÉ~ê=~ë=áí ÅçåíáåìÉÇ=íç=ÄÉÇ=Ççïå=ï~êÉÜçìëáåÖ=~åÇ=äçÖáëíáÅë=áëëìÉë ïÜáÅÜ=áå=íìêå=áãé~ÅíÉÇ=ÅìëíçãÉê=ëÉêîáÅÉK

páåÅÉ=íÜÉ=ÉåÇ=çÑ=íÜÉ=OMMTLMU=Ñáå~åÅá~ä=óÉ~êI=íÜÉ=áåÇìëíêá~ä ÄìëáåÉëë=Ü~Ç=~=êÉëíêìÅíìêÉ=çÑ=íÜÉ=pÉåáçê=j~å~ÖÉãÉåí qÉ~ã=ïáíÜ=íÜÉ=~ééçáåíãÉåí=çÑ=åÉï=ÖÉåÉê~ä=ã~å~ÖÉêë=Ñçê íÜÉ=Ñ~ëíÉåÉê=~åÇ=ÑäìáÇë=ÇáîáëáçåëI=áå=ÄçíÜ=Å~ëÉë=Äó=éêçãçJ íáçå=Ñêçã=ïáíÜáå=íÜÉ=`çãé~åóK

táíÜ=ëäçïáåÖ=ÉÅçåçãáÉë=áå=^ìëíê~äá~=~åÇ=kÉï=wÉ~ä~åÇ íÜÉêÉ=ïáää=ÄÉ=~=ëíêçåÖ=ÑçÅìë=çå=êÉÇìÅáåÖ=Å~éáí~ä=ÉãéäçóÉÇ ïáíÜ=áåáíá~íáîÉë=ëìÅÜ=~ë=êÉîáÉïáåÖ=íÜÉ=Äê~åÅÜ=åÉíïçêâ ïÜáÅÜ=Ü~ë=~äêÉ~Çó=ÅçããÉåÅÉÇK

Automotive Parts Distribution

qÜÉ=~ìíçãçíáîÉ=é~êíë=ÄìëáåÉëë=êÉÅçêÇÉÇ=~=äçëë=ÄÉÑçêÉ= áåíÉêÉëí=~åÇ=í~ñ=çÑ=ANVKS=ãáääáçå=Åçãé~êÉÇ=íç=~=äçëë=çÑ AUKO=ãáääáçå=Ñçê=íÜÉ=éêáçê=óÉ~êK==oÉîÉåìÉ=çÑ=AOMNKM=ãáääáçå ï~ë=Ççïå=NSBK==aìêáåÖ=íÜÉ=óÉ~ê=íÜÉ=nìÉÉåëä~åÇ=~åÇ kçêíÜÉêå=qÉêêáíçêó=~ìíçãçíáîÉ=ÄìëáåÉëëÉë=ïÉêÉ=ëçäÇK==qÜÉ tÉëíÉêå=^ìëíê~äá~å=çéÉê~íáçåë=çÑ=`çîÉåíêóë=ÅçåíáåìÉ=íç=ÄÉ ~ÇîÉêëÉäó=áãé~ÅíÉÇ=Ñçê=íÜÉ=êÉ~ëçåë=~äêÉ~Çó=ëí~íÉÇ=Äìí=çìê éÉêÑçêã~åÅÉ=áë=åçï=áãéêçîáåÖK==qÜÉ=pçìíÜ=^ìëíê~äá~å= çéÉê~íáçåëI=ïÜáäëí=ÄÉäçï=ÉñéÉÅí~íáçåëI=Ü~Ç=~å=áãéêçîÉÇ êÉëìäí=çå=íÜÉ=éêáçê=óÉ~êK

j~å~ÖÉãÉåíÛë=ÑçÅìë=ÖçáåÖ=Ñçêï~êÇ=ïáää=ÄÉ=íç=äáÑí=íê~ÇáåÖ éÉêÑçêã~åÅÉ=~åÇ=êÉÇìÅÉ=çéÉê~íáåÖ=ÅçëíëK

Gasket Manufacturing

^^=d~ëâÉíë=míó=iíÇI=íÜÉ=dêçìéÛë=ÅçåíêçääÉÇ=ÉåíáíóI=~ÅÜáÉîÉÇ ~=ÖççÇ=éÉêÑçêã~åÅÉ=ïáíÜ=êÉîÉåìÉ=çÑ=ANNKS=ãáääáçå= Åçãé~êÉÇ=íç=ANNKN=ãáääáçå=íÜÉ=éêáçê=óÉ~ê=Ó=ìé=QKRBK==mêçÑáí ÄÉÑçêÉ=áåíÉêÉëí=~åÇ=í~ñ=áåÅêÉ~ëÉÇ=STB=íç=AOKM=ãáääáçåK==^ Ñ~îçìê~ÄäÉ=íê~ÇáåÖ=ÉåîáêçåãÉåí=ÅçìéäÉÇ=ïáíÜ=ëíêçåÖ=Åçëí Åçåíêçä=ÅçåíêáÄìíÉÇ=íç=íÜÉ=ëçäáÇ=íê~ÇáåÖ=êÉëìäí=çÑ=íÜÉ= ÄìëáåÉëëK

People

tÉ=Ü~îÉ=ÄÉåÉÑáíÉÇ=Ñêçã=íÜÉ=ÉÑÑçêíë=çÑ=ã~åó=ÖççÇ=éÉçéäÉ áå=çìê=çãé~åó=~åÇ=íÜÉ=~êêáî~ä=çÑ=~=åìãÄÉê=çÑ=åÉï= éÉçéäÉK==få=nìÉÉåëä~åÇ=~åÇ=tÉëíÉêå=^ìëíê~äá~I=ïÉ=Ü~îÉ ÉñéÉêáÉåÅÉÇ=íÜÉ=ëíêçåÖÉëí=àçÄ=ã~êâÉíë=f=Ü~îÉ=ÉîÉê=ëÉÉå=~åÇ íÜáë=Ü~ë=êÉëìäíÉÇ=áå=ëí~ÑÑ=íìêåçîÉê=ïÜáÅÜ=áë=ï~ó=íçç=ÜáÖÜ ~åÇ=áí=áë=~=ëáÖåáÑáÅ~åí=Åçëí=íç=çìê=çãé~åóK

lÑ=é~êíáÅìä~ê=áãéçêí~åÅÉ=áë=íÜÉ=dêçìéÛë=éêÉÑÉêÉåÅÉ=íç= áÇÉåíáÑóI=ÇÉîÉäçé=~åÇ=éêçãçíÉ=í~äÉåí=Ñêçã=ïáíÜáå=íÜÉ= ÄìëáåÉëë=~åÇ=ÇìêáåÖ=íÜÉ=óÉ~ê=íÜÉêÉ=ï~ë=~=ëáÖåáÑáÅ~åí= åìãÄÉê=çÑ=áåíÉêå~ä=ëÉåáçê=ã~å~ÖÉãÉåí=~ééçáåíãÉåíë ã~ÇÉ=~ë=~=êÉëìäí=çÑ=íÜÉëÉ=ÑçÅìëÉÇ=ÉÑÑçêíë=áå=í~äÉåí= ã~å~ÖÉãÉåí=~åÇ=ëìÅÅÉëëáçå=éä~ååáåÖK

^=ÅçJçêÇáå~íÉÇ=ÑçÅìë=çå=íê~áåáåÖ=~åÇ=ÇÉîÉäçéáåÖ=çìê=ëí~ÑÑ ÅçåíáåìÉÇ=íç=Ö~áå=ãçãÉåíìã=ÇìêáåÖ=íÜÉ=óÉ~ê=ïáíÜ=~= åìãÄÉê=çÑ=ÖÉåÉê~ä=~åÇ=í~áäçêÉÇ=íê~áåáåÖ=éêçÖê~ãë= ëìÅÅÉëëÑìääó=áãéäÉãÉåíÉÇ=~Åêçëë=íÜÉ=dêçìéK==iÉ~ÇÉêëÜáé ÇÉîÉäçéãÉåíI=ëóëíÉãë=ëâáääë=~åÇ=éêçÇìÅí=âåçïäÉÇÖÉ=êÉã~áå âÉó=ÑçÅìë=~êÉ~ë=Ñçê=íÜÉ=ÄìëáåÉëë=íç=ÉåëìêÉ=çìê=ëí~ÑÑ=~êÉ= ëìáí~Ääó=ÉèìáééÉÇ=íç=ãÉÉí=ÄìëáåÉëë=~åÇ=ÅìëíçãÉê= ÉñéÉÅí~íáçåëK

p~ÑÉíó=êÉã~áåë=~í=íÜÉ=ÑçêÉÑêçåí=çÑ=íÜÉ=dêçìéÛë=çéÉê~íáçåë ~åÇ=áë=íÜÉ=çîÉêJêáÇáåÖ=éÜáäçëçéÜó=áå=ÉåëìêáåÖ=íÜ~í=~ää= ~ÅíáîáíáÉë=~êÉ=ÅçåÇìÅíÉÇ=áå=~=ã~ååÉê=ïÜÉêÉÄó=íÜÉ=ÜÉ~äíÜI ë~ÑÉíó=~åÇ=ïÉää=ÄÉáåÖ=çÑ=ëí~ÑÑI=Åçåíê~Åíçêë=~åÇ=ÅìëíçãÉêë êÉã~áåë=Ñêçåí=çÑ=ãáåÇK==lìê=ÄÉííÉê=íÜ~å=áåÇìëíêóÒ=ë~ÑÉíó= éÉêÑçêã~åÅÉ=ÅçåíáåìÉÇ=ÇìêáåÖ=íÜÉ=óÉ~ê=ïáíÜ=áãéêçîÉãÉåíë åçíÉÇ=áå=íÜÉ=ëÉîÉêáíó=çÑ=áåàìêáÉë=êÉÅçêÇÉÇK==^=åìãÄÉê=çÑ íê~áåáåÖ=áåáíá~íáîÉë=ëéÉÅáÑáÅ=íç=ë~ÑÉ=ïçêâ=éê~ÅíáÅÉë= ÅçããÉåÅÉÇ=ÇìêáåÖ=íÜÉ=óÉ~ê=~åÇ=ïáää=ÅçåíáåìÉ=~Åêçëë=íÜÉ dêçìéK

==> picture [32 x 32] intentionally omitted <==

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

EXECUTIVE CHAIRMAN’S REPORT (CONTINUED)

Outlook

cçê=íÜÉ=OMMULMV=Ñáå~åÅá~ä=óÉ~ê=íÜÉ=éçëëáÄáäáíó=çÑ=ÜáÖÜÉê áåÑä~íáçåI=ÅìêêÉåÅó=îçä~íáäáíó=~åÇ=ïçêäÇ=ÉÅçåçãáÅ=ìåÅÉêí~áåíó ïáää=éêÉëÉåí=ÅÜ~ääÉåÖÉë=Ñçê=íÜÉ=dêçìéK

qÜÉ=çìíäççâ=Ñçê=íÜÉ=dêçìéÛë=áåÇìëíêá~ä=ÄìëáåÉëë=ëÜçìäÇ=ÄÉ ÖÉåÉê~ääó=Ñ~îçìê~ÄäÉI=ÉëéÉÅá~ääó=Ñçê=íÜÉ=Çáîáëáçåë=íÜ~í=~êÉ çéÉê~íáåÖ=áå=íÜÉ=ãçêÉ=Äìçó~åí= ‘ êÉëçìêÅÉë=ëí~íÉë ’ çÑ tÉëíÉêå=^ìëíê~äá~=~åÇ=nìÉÉåëä~åÇK==qÜÉ=çíÜÉê=ëí~íÉë= éêÉëÉåí=ìåÅÉêí~áå=íê~ÇáåÖ=ÅçåÇáíáçåë=ïÜáäëí=íÜÉ=kÉï wÉ~ä~åÇ=ÉÅçåçãó=áë=ÉñéÉÅíÉÇ=íç=ÄÉ=éççêK==qÜÉ=kÉï wÉ~ä~åÇ=ÄìëáåÉëëÉë=~êÉ=ïÉää=ã~å~ÖÉÇ=~åÇ=êÉéêÉëÉåí=TB=çÑ dêçìé=êÉîÉåìÉK

qÜÉ=~ìíçãçíáîÉ=ÇáîáëáçåÛë=éÉêÑçêã~åÅÉ=ïáää=ÄÉ=ÇÉéÉåÇ~åí çå=ÅçåíáåìÉÇ=áãéêçîÉãÉåí=çÑ=áåíÉêå~ä=éêçÅÉëëÉë=~åÇ=íÜÉ äÉîÉä=çÑ=ÅçåëìãÉê=ÅçåÑáÇÉåÅÉ=íÜ~í=Å~å=ÄÉ=~ÅÜáÉîÉÇ=~ë=íÜÉ ÄìëáåÉëë=ÇÉäáîÉêë=ÄÉííÉê=ëÉêîáÅÉ=äÉîÉäëK

fí=áë=çìê=áåíÉåíáçå=íç=Öêçï=íÜÉ=`çãé~åóI=êÉÖ~êÇáåÖ=~í=~ää íáãÉë=íÜÉ=éêáã~Åó=çÑ=~ÅÜáÉîáåÖ=ëìéÉêáçê=î~äìÉ=Ñçê=çìê= ëÜ~êÉÜçäÇÉêëK==få=ÇçáåÖ=íÜáë=ïÉ=ïáää=~äëç=ãÉÉí=íÜÉ= êÉ~ëçå~ÄäÉ=ÉñéÉÅí~íáçåë=çÑ=çìê=çíÜÉê=íïç=ã~àçê= ëí~âÉÜçäÇÉêëI=å~ãÉäóI=çìê=ÅìëíçãÉêë=~åÇ=çìê=ÉãéäçóÉÉëK

cáå~ääó=f=êÉÅçêÇ=ãó=~ééêÉÅá~íáçå=~åÇ=íÜ~åâë=Ñçê=íÜÉ=ÉÑÑçêíë ã~ÇÉ=Äó=ÉãéäçóÉÉë=~Åêçëë=íÜÉ=dêçìé=~ë=ïÉää=~ë=íÜÉ= ëìééçêí=f=Ü~îÉ=êÉÅÉáîÉÇ=Ñêçã=ãó=ÑÉääçï=ÇáêÉÅíçêëK

==> picture [168 x 52] intentionally omitted <==

Roger B Flynn

bñÉÅìíáîÉ=`Ü~áêã~å

qÜÉ=Ö~ëâÉíë=ÄìëáåÉëë=áë=ïÉää=éçëáíáçåÉÇ=íç=ÅçåíáåìÉ=íç áãéêçîÉ=çå=áíë=ÅçãéÉíáíáîÉ=ã~êâÉí=éçëáíáçå=~åÇ=~åíáÅáé~íÉë ~=Ñ~îçìê~ÄäÉ=íê~ÇáåÖ=ÉåîáêçåãÉåíK

tÉ=ÉñéÉÅí=íç=ÅçåíáåìÉ=íç=êÉÇìÅÉ=çìê=ÇÉÄí=íÜêçìÖÜ= éêçéÉêíó=ë~äÉë=~åÇ=ÄÉííÉê=ïçêâáåÖ=Å~éáí~ä=ìíáäáë~íáçåI=ÖáîáåÖ ìë=íÜÉ=çééçêíìåáíó=íç=éìêëìÉ=áåáíá~íáîÉë=íç=Öêçï=çìê=ÄÉííÉê éÉêÑçêãáåÖ=ÇáîáëáçåëK

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

BOARD OF DIRECTORS

==> picture [69 x 69] intentionally omitted <==

Roger Flynn

==> picture [69 x 69] intentionally omitted <==

Joe Boros

==> picture [69 x 69] intentionally omitted <==

Barry Nazer

==> picture [69 x 69] intentionally omitted <==

John Nickson

==> picture [69 x 69] intentionally omitted <==

Vince Scidone

Roger Baden Flynn KbåÖ=EeçåëFI=j^I=cfb=E^ìëíFI=c^fa bñÉÅìíáîÉ=Ü~áêã~åX=

`Ü~áêã~å=çÑ=åçãáå~íáçå=ÅçããáííÉÉI=~ÖÉ=RU

jê=cäóåå=ï~ë=~ééçáåíÉÇ=~=ÇáêÉÅíçê=çÑ=íÜÉ=çãé~åó áå=lÅíçÄÉê=OMMNK==eÉ=ÄÉÅ~ãÉ=Ü~áêã~å=áå kçîÉãÄÉê=OMMS=~åÇ=áå=^éêáä=OMMT=jê=cäóåå ~ëëìãÉÇ=íÜÉ=êçäÉ=çÑ=bñÉÅìíáîÉ=Ü~áêã~å=çÑ=íÜÉçãé~åóK==jê=cäóåå=Ü~ë=Ü~Ç=Äêç~Ç=ëÉåáçê= ã~å~ÖÉãÉåí=ÉñéÉêáÉåÅÉ=áå=éêáã~êáäó=ãÉí~ä=Ä~ëÉÇ áåÇìëíêáÉë=áå=íÜÉ=rpI=^ìëíê~äá~=~åÇ=^ëá~=~åÇ=Ü~ë ïçêâÉÇ=Ñçê=_em=~åÇ=^äÅç~K==eÉ=ï~ë=dÉåÉê~ä j~å~ÖÉê=çÑ=m~ÅáÑáÅ=aìåäçéÛë=läÉñ=^ìëíê~äá~=Å~ÄäÉ Çáîáëáçå=~åÇ=j~å~ÖáåÖ=aáêÉÅíçê=çÑ=páÇÇçåë=o~ãëÉí iáãáíÉÇ=Ñçê=T=óÉ~êë=ìåíáä=NVVVK==eÉ=áë=~äëç=~=ÇáêÉÅíçê çÑ=eáääë=fåÇìëíêáÉë=iáãáíÉÇK==eÉ=áë=~=ÑçêãÉê=ÇáêÉÅíçê=çÑ t~ííóä=iáãáíÉÇ=~åÇ=içåÖêÉ~ÅÜ=dêçìé=iíÇ=~åÇ=Ü~ë Ü~Ç=PR=Äç~êÇ=óÉ~êë=ÉñéÉêáÉåÅÉ çå=S=äáëíÉÇ= Åçãé~åáÉëK=

líÜÉê=äáëíÉÇ=Åçãé~åó=ÇáêÉÅíçêëÜáéë=ÜÉäÇ=ÇìêáåÖ=íÜÉ é~ëí=P=Ñáå~åÅá~ä=óÉ~êë=J=eáääë=fåÇìëíêáÉë=iáãáíÉÇ=Ñêçã OP=kçîÉãÄÉê=NVVV=íç=ÅìêêÉåíK

Joseph Boros c`m^I=c^f`a

fåÇÉéÉåÇÉåí=åçåJÉñÉÅìíáîÉ=ÇáêÉÅíçêX=

`Ü~áêã~å=çÑ=êÉãìåÉê~íáçå=ÅçããáííÉÉX=ãÉãÄÉê=çÑ íÜÉ=~ìÇáí=C=êáëâ=ÅçããáííÉÉ=~åÇ=åçãáå~íáçå= ÅçããáííÉÉI=~ÖÉ=SP

jê=_çêçë=ï~ë=~ééçáåíÉÇ=~=ÇáêÉÅíçê=çÑ=íÜÉ=`çãé~åó áå=j~êÅÜ=OMMQK=eÉ=Ü~ë=Ü~Ç=QM=óÉ~êë=ÉñéÉêáÉåÅÉ=áå íÜÉ=Ü~êÇï~êÉ=~åÇ=ÄìáäÇáåÖ=áåÇìëíêó áå=Ñáå~åÅá~ä=~åÇ ÖÉåÉê~ä=ã~å~ÖÉãÉåí=êçäÉëK==jê=_çêçë=ï~ë j~å~ÖáåÖ=aáêÉÅíçê=çÑ=íÜÉ=^äÅç=dêçìé=ïÜÉå=áí=ï~ë ~ÅèìáêÉÇ=Äó=_ìååáåÖë=áå=NVVM=~åÇ=ï~ë=íÜÉå ~ééçáåíÉÇ=j~å~ÖáåÖ=aáêÉÅíçê=çÑ=_ìååáåÖë=_ìáäÇáåÖ pìééäáÉë=íç=ãÉêÖÉ=íÜÉ=íïç=ÄìëáåÉëëÉëK==eÉ=ï~ë=~äëç ~ééçáåíÉÇ=~=aáêÉÅíçê=çÑ=_ìååáåÖë=iíÇI=~=äáëíÉÇ=éìÄäáÅ Åçãé~åó=~í=íÜ~í=íáãÉ=ìé=ìåíáä=áíë=~Åèìáëáíáçå=Äó tÉëÑ~êãÉêëK

aìêáåÖ=Üáë=NP=óÉ~ê=íÉêã=~ë=ÜÉ~Ç=çÑ=_ìååáåÖëI=íÜÉ ÄìëáåÉëë=ÖêÉï=Ñêçã=~=t^I=ëí~íÉ=Ä~ëÉÇ=ÉåíÉêéêáëÉ=íç ~=å~íáçå~ä=çéÉê~íáçå=ïáíÜ=~=íìêåçîÉê=ÉñÅÉÉÇáåÖ=AP Äáääáçå=~åÇ=ÉãéäçóáåÖ=OMIMMM=ëí~ÑÑK

jê=_çêçë=áë=~äëç=~=ÇáêÉÅíçê=çÑ=tÉëíëÅÜÉãÉ=míó=iíÇ ~åÇ=~=ÑçêãÉê=ÇáêÉÅíçê=çÑ=íÜÉ=Ü~ãÄÉê=çÑ=çããÉêÅÉ ~åÇ=fåÇìëíêó=çÑ=tÉëíÉêå=^ìëíê~äá~=~åÇ=ï~ë=~= êÉéêÉëÉåí~íáîÉ=çÑ=íÜÉ=oÉí~áä=pÜçéë=^Çîáëçêó `çããáííÉÉK

eÉ=ÜÉäÇ=åç=çíÜÉê=äáëíÉÇ=Åçãé~åó=ÇáêÉÅíçêëÜáéë= ÇìêáåÖ=íÜÉ=é~ëí=P=Ñáå~åÅá~ä=óÉ~êëK

Barry Frederick Nazer __ìëI=cm^I=ccáåI=^kwffc=EcÉääçïFI c^fa

fåÇÉéÉåÇÉåí=åçåJÉñÉÅìíáîÉ=ÇáêÉÅíçêX= `Ü~áêã~å=çÑ=~ìÇáí=C=êáëâ=ÅçããáííÉÉX=ãÉãÄÉê=çÑ åçãáå~íáçå=ÅçããáííÉÉI=~ÖÉ=SM

jê=k~òÉê=ï~ë=~ééçáåíÉÇ=~ë=~=ÇáêÉÅíçê=çÑ=íÜÉ çãé~åó=áå=pÉéíÉãÄÉê=OMMPK==eÉ=áë=ÅìêêÉåíäó=ÜáÉÑ cáå~åÅá~ä=lÑÑáÅÉê=çÑ=tÉëÄÉ~ã=eçäÇáåÖë=iáãáíÉÇI=~å ìåäáëíÉÇ=éìÄäáÅ=Åçãé~åó=ïÜáÅÜ=çéÉê~íÉë=~=ä~ãáå~íÉÇ îÉåÉÉê=äìãÄÉê=ã~åìÑ~ÅíìêáåÖ=Ñ~ÅáäáíóK==eÉ=áë=~äëç=~ ÇáêÉÅíçê=çÑ=íÜÉ=j=d=h~áäáë=dêçìéK

eÉ=ï~ë=ÜáÉÑ=cáå~åÅá~ä=lÑÑáÅÉê=~åÇ=çãé~åó pÉÅêÉí~êó=çÑ=tbpcf=iáãáíÉÇI=~=ã~àçê=ÉåÖáåÉÉêÉÇ ïççÇ=éêçÇìÅíë=ã~åìÑ~ÅíìêÉê=~åÇ=ÇáëíêáÄìíçêI=Ñêçã ^ìÖìëí=NVVV=ìåíáä=áíë=ë~äÉ=áå=OMMNK==eÉ=éêÉîáçìëäó ëéÉåí=çîÉê=NM=óÉ~êë=~í=íÜÉ=ÉñÉÅìíáîÉ=äÉîÉä=çÑ tÉëíÉêå=^ìëíê~äá~Ûë=ä~êÖÉëí=Ñáå~åÅá~ä=áåëíáíìíáçåI=~åâ çÑ=tÉëíÉêå=^ìëíê~äá~=iáãáíÉÇ=E~åâtÉëíFI=áåÅäìÇáåÖ ~äãçëí=V=óÉ~êë=~ë=`ÜáÉÑ=cáå~åÅá~ä=lÑÑáÅÉêK==

eÉ=ÜÉäÇ=åç=çíÜÉê=äáëíÉÇ=Åçãé~åó=ÇáêÉÅíçêëÜáéë= ÇìêáåÖ=íÜÉ=é~ëí=P=Ñáå~åÅá~ä=óÉ~êëK=eçïÉîÉê=ëáåÅÉ=íÜÉ ÉåÇ=çÑ=íÜÉ=OMMTLMU=Ñáå~åÅá~ä=óÉ~êI=jê=k~òÉê=Ü~ë ÄÉÉå=~ééçáåíÉÇ=~=ÇáêÉÅíçê=çÑ=íÜÉ=äáëíÉÇ=Åçãé~åó saj=dêçìé=iáãáíÉÇK

John Harold Nickson _KbÅI=m^I=c^fa fåÇÉéÉåÇÉåí=åçåJÉñÉÅìíáîÉ=ÇáêÉÅíçêX= jÉãÄÉê=çÑ=~ìÇáí=C=êáëâ=ÅçããáííÉÉ=~åÇ= êÉãìåÉê~íáçå=ÅçããáííÉÉI=~ÖÉ=SQ

jê=káÅâëçå=ï~ë=~ééçáåíÉÇ=~=ÇáêÉÅíçê=çÑ=íÜÉ `çãé~åó=áå=kçîÉãÄÉê=OMMTK==eÉ=Ü~ë=çîÉê=QP=óÉ~êë ÉñéÉêáÉåÅÉ=áå=íÜÉ=Ñáå~åÅÉ=áåÇìëíêóI=áåÅäìÇáåÖ=PR óÉ~êë=~í=dçäÇã~å=p~ÅÜë=g_tÉêÉ=EÑçêãÉêäó=g=_=tÉêÉ ~åÇ=pçåF=ìåíáä=êÉíáêáåÖ=áå=OMMQK==eÉ=ï~ë=~=aáêÉÅíçêL m~êíåÉê=Ñçê=çîÉê=OM=óÉ~êëK

cçê=OU=óÉ~êë=jê=káÅâëçå=ëéÉÅá~äáëÉÇ=áå=Åçêéçê~íÉ ~ÇîáÅÉ=~åÇ=Ñáå~åÅÉI=ïçêâáåÖ=ÅäçëÉäó=ïáíÜ=~=ïáÇÉ ê~åÖÉ=çÑ=äáëíÉÇ=~åÇ=íç=ÄÉ=äáëíÉÇ=Åçêéçê~íáçåëI=ÄçíÜ éìÄäáÅ=~åÇ=éêáî~íÉI=ã~åó=áå=tÉëíÉêå=^ìëíê~äá~K==eÉ=áë ~=ÇáêÉÅíçê=çÑ=~=åìãÄÉê=çÑ=éêáî~íÉ=Åçãé~åáÉë=~åÇ=~ ÅçããáííÉÉ=ãÉãÄÉê=çÑ=~=åìãÄÉê=çÑ=ÅÜ~êáíáÉë=~åÇ íêÉ~ëìêÉê=çÑ=~=ëéçêíáåÖ=ÅäìÄK

eÉ=ÜÉäÇ=åç=çíÜÉê=äáëíÉÇ=Åçãé~åó=ÇáêÉÅíçêëÜáéë= ÇìêáåÖ=íÜÉ=é~ëí=P=Ñáå~åÅá~ä=óÉ~êëK

Vince Scidone __ìëI ^c^fj bñÉÅìíáîÉ=ÇáêÉÅíçêI=~ÖÉ=QR

jê=pÅáÇçåÉ=ï~ë=~ééçáåíÉÇ=~å=ÉñÉÅìíáîÉ=ÇáêÉÅíçê=çÑ íÜÉ=çãé~åó=áå=cÉÄêì~êó=OMMUK==eÉ=àçáåÉÇ=íÜÉçãé~åó=áå=NVVS=~ë=dêçìé=j~êâÉíáåÖ=j~å~ÖÉê ~åÇ=ï~ë=~ééçáåíÉÇ=íÜÉ=dêçìé=dÉåÉê~ä=j~å~ÖÉêI fåÇìëíêá~ä=áå=NVVTK==eÉ=Ü~ë=ëáåÅÉ=ëìÅÅÉëëÑìääó=äÉÇ=íÜÉ ÖêçïíÜ=çÑ=íÜ~í=ÇáîáëáçåK

jê=pÅáÇçåÉ=Ü~ë=~=ëíêçåÖ=Ä~ÅâÖêçìåÇ=áå=íÜÉ=ëíÉÉäI Ñ~ëíÉåÉê=~åÇ=áåÇìëíêá~ä=áåÇìëíêáÉë=Ü~îáåÖ=ïçêâÉÇ=Ñçê _em=píÉÉäI=bã~áä=iáãáíÉÇ=~åÇ=^à~ñ=c~ëíÉåÉêëK

eÉ=ÜÉäÇ=åç=çíÜÉê=äáëíÉÇ=Åçãé~åó=ÇáêÉÅíçêëÜáéë= ÇìêáåÖ=íÜÉ=é~ëí=P=Ñáå~åÅá~ä=óÉ~êëK

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

CONCISE FINANCIAL REPORT

Coventry Group Ltd For the year ended 30 June 2008

qÜÉ=ÅçåÅáëÉ=Ñáå~åÅá~ä=êÉéçêí=Ü~ë=ÄÉÉå=éêÉé~êÉÇ=áå= ~ÅÅçêÇ~åÅÉ=ïáíÜ=íÜÉ=`çêéçê~íáçåë=^Åí=OMMN=~åÇ ^ÅÅçìåíáåÖ=pí~åÇ~êÇ=^^p_=NMPV= Concise Financial Reports E^^p_=NMPVFK=qÜÉ=Ñáå~åÅá~ä=ëí~íÉãÉåíë=~åÇ=ëéÉÅáÑáÅ= ÇáëÅäçëìêÉë=êÉèìáêÉÇ=Äó=^^p_=NMPV=Ü~îÉ=ÄÉÉå=ÇÉêáîÉÇ=Ñêçã íÜÉ=dêçìéÛë=Ñìää=Ñáå~åÅá~ä=êÉéçêí=Ñçê=íÜÉ=Ñáå~åÅá~ä=óÉ~êK=líÜÉê áåÑçêã~íáçå=áåÅäìÇÉÇ=áå=íÜÉ=ÅçåÅáëÉ=Ñáå~åÅá~ä=êÉéçêí=áë= ÅçåëáëíÉåí=ïáíÜ=íÜÉ=dêçìéÛë=Ñìää=Ñáå~åÅá~ä=êÉéçêíK=qÜÉ= ÅçåÅáëÉ=Ñáå~åÅá~ä=êÉéçêí=ÇçÉë=åçíI=~åÇ=Å~ååçí=ÄÉ=ÉñéÉÅíÉÇ íç=éêçîáÇÉ=~ë=Ñìää=~å=ìåÇÉêëí~åÇáåÖ=çÑ=íÜÉ=Ñáå~åÅá~ä= éÉêÑçêã~åÅÉI=Ñáå~åÅá~ä=éçëáíáçå=~åÇ=Ñáå~åÅáåÖ=~åÇ=áåîÉëíáåÖ ~ÅíáîáíáÉë=çÑ=íÜÉ=dêçìé=~ë=íÜÉ=Ñìää=Ñáå~åÅá~ä=êÉéçêíK

qÜÉ=Ñìää=Ñáå~åÅá~ä=êÉéçêí=Å~å=ÄÉ=îáÉïÉÇ=çå=çê=Ççïåäç~ÇÉÇ Ñêçã=`çîÉåíêó=dêçìé=iíÇÛë=ïÉÄëáíÉ=J=ïïïKÅÖäKÅçãK~ì

^=Ü~êÇ=Åçéó=çÑ=íÜÉ=Ñìää=Ñáå~åÅá~ä=êÉéçêí=Å~å=ÄÉ=êÉèìÉëíÉÇ=Äó Åçåí~ÅíáåÖ=íÜÉ=`çãé~åó=pÉÅêÉí~êó=çå=EMUF=VQPS=RQMQK


Contents	Page
aáêÉÅíçêëÛoÉéçêíEáåÅäìÇáåÖoÉãìåÉê~íáçå
oÉéçêíçåé~ÖÉëNPíçOVF	NM
pí~íÉãÉåíçÑ`çêéçê~íÉdçîÉêå~åÅÉmê~ÅíáÅÉë	PO
fåÅçãÉpí~íÉãÉåí	QO
_~ä~åÅÉpÜÉÉí	QQ
pí~íÉãÉåíçÑ`Ü~åÖÉëáåbèìáíó	QS
pí~íÉãÉåíçÑ`~ëÜcäçïë	QT
kçíÉëíçíÜÉÅçåëçäáÇ~íÉÇÑáå~åÅá~äëí~íÉãÉåíë
NK _~ëáëçÑéêÉé~ê~íáçåçÑÅçåÅáëÉ
Ñáå~åÅá~äêÉéçêí	QU
OK ^ÅÅçìåíáåÖÉëíáã~íÉë~åÇàìÇÖÉãÉåíë	QU
PK pÉÖãÉåíêÉéçêíáåÖ	QV
QK fåÇáîáÇì~ääóã~íÉêá~äáíÉãëáåÅäìÇÉÇ
áåéêçÑáíÄÉÑçêÉí~ñ	RO
RK `~éáí~ä~åÇêÉëÉêîÉë	RP
SK aáëÅçåíáåìÉÇçéÉê~íáçåë	RR
aáêÉÅíçêëÛÇÉÅä~ê~íáçå	RT

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

DIRECTORS’ REPORT

qÜÉ=ÇáêÉÅíçêë=éêÉëÉåí=íÜÉáê=êÉéçêí=íçÖÉíÜÉê=ïáíÜ=íÜÉ=Ñáå~åÅá~ä=êÉéçêí=çÑ=çîÉåíêó=dêçìé=iíÇ=EíÜÉ=çãé~åóÒF=~åÇ=çÑ=íÜÉ=dêçìéI=ÄÉáåÖ=íÜÉ=`çãé~åó=~åÇ=áíë=ÅçåíêçääÉÇ=ÉåíáíáÉë=Ñçê=íÜÉ óÉ~ê=ÉåÇÉÇ=PM=gìåÉ=OMMUK

1. Directors

Information on Directors

qÜÉ=ÇáêÉÅíçêë=çÑ=íÜÉ=`çãé~åó=~í=~åó=íáãÉ=ÇìêáåÖ=çê=ëáåÅÉ=íÜÉ=ÉåÇ=çÑ=íÜÉ=Ñáå~åÅá~ä=óÉ~ê=~åÇ=ìé=íç=íÜÉ=Ç~íÉ=çÑ=íÜáë=êÉéçêí=~êÉW

Independent, non-executive directors

gçëÉéÜ=çêçë= oçëë=j~äÅçäã=jÅiÉ~åI=^j=EêÉëáÖåÉÇ=R=kçîÉãÄÉê=OMMTF ~êêó=cêÉÇÉêáÅâ=k~òÉê= gçÜå=e~êçäÇ=káÅâëçå=E~ééçáåíÉÇ=R=kçîÉãÄÉê=OMMTF

Executive directors

oçÖÉê=_~ÇÉå=cäóåå=Ó=bñÉÅìíáîÉ=`Ü~áêã~å= sáåÅÉ=pÅáÇçåÉ=E~ééçáåíÉÇ=OO=cÉÄêì~êó=OMMUF

m~êíáÅìä~êë=çÑ=íÜÉáê=èì~äáÑáÅ~íáçåëI=ÉñéÉêáÉåÅÉ=~åÇ=ëéÉÅá~ä=êÉëéçåëáÄáäáíáÉë=~êÉ=ëÉí=çìí=çå=é~ÖÉ=U=çÑ=íÜÉ=^ååì~ä=oÉéçêíK

Directors’ Interests

^ë=~í=íÜÉ=Ç~íÉ=çÑ=íÜáë=êÉéçêí=é~êíáÅìä~êë=çÑ=íÜÉ=êÉäÉî~åí=áåíÉêÉëí=çÑ=É~ÅÜ=ÇáêÉÅíçê=áå=íÜÉ=ëÉÅìêáíáÉë=çÑ=íÜÉ=`çãé~åó=~êÉ=~ë=ÑçääçïëW

	kìãÄÉêçÑ	kìãÄÉêçÑ
	lêÇáå~êópÜ~êÉë	léíáçåëEìåäáëíÉÇF
o_cäóåå	SOINQS	RMMIMMM
g_çêçë	OTIPOM	J
gekáÅâëçå	ORIVTT	J
_ck~òÉê	SNINUO	J
spÅáÇçåÉ	NPIQVN	NMMIMMM

aìêáåÖ=íÜÉ=OMMTLMU=Ñáå~åÅá~ä=óÉ~ê=~åÇ=~ë=~í=íÜÉ=Ç~íÉ=çÑ=íÜáë=êÉéçêí=åç=ÇáêÉÅíçê=Ü~ë=ÇÉÅä~êÉÇ=~åó=áåíÉêÉëí=áå=~=Åçåíê~Åí=çê=éêçéçëÉÇ=Åçåíê~Åí=ïáíÜ=íÜÉ=çãé~åóI=íÜÉ=å~íìêÉ=çÑ=ïÜáÅÜ ïçìäÇ=ÄÉ=êÉèìáêÉÇ=íç=ÄÉ=êÉéçêíÉÇ=áå=~ÅÅçêÇ~åÅÉ=ïáíÜ=ëìÄëÉÅíáçå=PMMENNFEÇF=çÑ=íÜÉ=çêéçê~íáçåë=^Åí=OMMNI=ÉñÅÉéí=~ë=ÑçääçïëW

√ jê=o_=cäóååI=ïÜç=Ü~ë=~=ëÉêîáÅÉ=Åçåíê~Åí=ïáíÜ=íÜÉ=çãé~åó=ïÜáÅÜ=ÉåíáíäÉë=Üáã=íç=ÄÉåÉÑáíë=áå=íÜÉ=çãé~åó=~ë=ÇáëÅäçëÉÇ=áå=íÜÉ=oÉãìåÉê~íáçå=oÉéçêí=ëÉÅíáçå=çÑ=íÜáë=êÉéçêíK
√ jê=s=pÅáÇçåÉI=ïÜç=Ü~ë=~å=ÉãéäçóãÉåí=Åçåíê~Åí=ïáíÜ=íÜÉ=çãé~åó=ïÜáÅÜ=ÉåíáíäÉë=Üáã=íç=ÄÉåÉÑáíë=áå=íÜÉ=çãé~åó=~ë=ÇáëÅäçëÉÇ=áå=íÜÉ=oÉãìåÉê~íáçå=oÉéçêí=ëÉÅíáçå=çÑ=íÜáë=êÉéçêíK

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

DIRECTORS’ REPORT (CONTINUED)

1. Directors (continued)

Directors’ Meetings

qÜÉ=ÑçääçïáåÖ=í~ÄäÉ=ëÉíë=çìí=íÜÉ=åìãÄÉê=çÑ=ãÉÉíáåÖë=çÑ=íÜÉ=`çãé~åóÛë=Äç~êÇ=çÑ=ÇáêÉÅíçêë=~åÇ=É~ÅÜ=Äç~êÇ=ÅçããáííÉÉI=ÜÉäÇ=ÇìêáåÖ=íÜÉ=óÉ~ê=ÉåÇÉÇ=PM=gìåÉ=OMMUI=~åÇ=íÜÉ=åìãÄÉê=çÑ ãÉÉíáåÖë=~ííÉåÇÉÇ=Äó=É~ÅÜ=ÇáêÉÅíçêK

		Board of	Audit &	Risk	Remuneration	Remuneration	Nomination	Nomination
	Directors		Committee		Committee		Committee
	eÉäÇ	^ííÉåÇÉÇ	eÉäÇ	^ííÉåÇÉÇ	eÉäÇ	^ííÉåÇÉÇ	eÉäÇ	^ííÉåÇÉÇ
o_cäóåå	NT	NT	J	J	J	J	J	J
g_çêçë	NT	NR	Q	Q	R	R	J	J
ojjÅiÉ~å	S	S	O	O	Q	Q	J	J
_ck~òÉê	NT	NT	Q	Q	J	J	J	J
gekáÅâëçå	NN	NN	O	O	N	N	J	J
spÅáÇçåÉ	T	T	J	J	J	J	J	J

kçíÉW aáêÉÅíçêë=ã~ó=é~ëë=êÉëçäìíáçåë=áå=ïêáíáåÖ=ïáíÜçìí=~=Ñçêã~ä=ãÉÉíáåÖ=ÄÉáåÖ=ÅçåîÉåÉÇK==pìÅÜ=êÉëçäìíáçåë=~êÉ=ÇÉÉãÉÇ=Äó=íÜÉ=çãé~åóÛë=çåëíáíìíáçå=íç=ÄÉ=ãÉÉíáåÖëK==qÜÉ=~ÄçîÉ í~ÄäÉ=ÇçÉë=åçí=áåÅäìÇÉ=ëìÅÜ=ÇÉÉãÉÇ=ãÉÉíáåÖëK

2. Principal activities

qÜÉ=éêáåÅáé~ä=~ÅíáîáíáÉë=çÑ=íÜÉ=dêçìé=ÇìêáåÖ=íÜÉ=Ñáå~åÅá~ä=óÉ~ê=ïÉêÉW

Automotive Parts

Ó ÇáëíêáÄìíáçå=~åÇ=ã~êâÉíáåÖ=çÑ=~ìíçãçíáîÉ=é~êíë=~åÇ=~ÅÅÉëëçêáÉëI=íççäë=~åÇ=ïçêâëÜçé=ÉèìáéãÉåíX=ãáåáåÖ=~åÇ=ÖÉåÉê~ä=áåÇìëíêá~ä=Åçåëìã~ÄäÉëX=ëéÉÅá~äáëÉÇ=íê~åëéçêí=~åÇ=ÜÉ~îó Ü~ìä~ÖÉ=éêçÇìÅíëK

Industrial Products

Ó ÇáëíêáÄìíáçå=~åÇ=ã~êâÉíáåÖ=çÑ=áåÇìëíêá~ä=~åÇ=ÅçåëíêìÅíáçå=Ñ~ëíÉåÉêë=áåÅäìÇáåÖ=ÄçäíëI=åìíë=~åÇ=ëÅêÉïëX=ÖÉåÉê~ä=áåÇìëíêá~ä=éêçÇìÅíëK
Ó ÇáëíêáÄìíáçåI=ÇÉëáÖå=~åÇ=áåëí~ää~íáçå=çÑ=äìÄêáÅ~íáçå=~åÇ=ÜóÇê~ìäáÅ=ÑäìáÇ=ëóëíÉãëI=ÜçëÉ=~åÇ=ÑáííáåÖë=éêçÇìÅíëK
Ó áãéçêí~íáçåI=ÇáëíêáÄìíáçå=~åÇ=ã~êâÉíáåÖ=çÑ=Ü~êÇï~êÉI=ÅçãéçåÉåíë=~åÇ=ÑáåáëÜÉÇ=éêçÇìÅíë=íç=íÜÉ=ÇçãÉëíáÅ=~åÇ=ÅçããÉêÅá~ä=ÑìêåáíìêÉI=Å~ÄáåÉí=ã~âáåÖI=àçáåÉêó=~åÇ=ëÜçé=ÑáííáåÖ áåÇìëíêáÉëX=çÑÑáÅÉ=ÅÜ~áê=ÅçãéçåÉåíëK

Gasket Manufacturing

Ó ã~åìÑ~ÅíìêÉ=~åÇ=ÇáëíêáÄìíáçå=çÑ=~ìíçãçíáîÉ=~åÇ=áåÇìëíêá~ä=Ö~ëâÉíëK

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

DIRECTORS’ REPORT (CONTINUED)

3. Consolidated results

oÉëìäíë=çÑ=íÜÉ=dêçìé=Ñçê=íÜÉ=óÉ~ê=ÉåÇÉÇ=PM=gìåÉ=OMMU=ïÉêÉ=~ë=ÑçääçïëW

	2008	OMMT
	$000	AMMM
oÉîÉåìÉÑêçãë~äÉçÑÖççÇë	448,795	QSUIPPM
mêçÑáíÄÉÑçêÉí~ñ	6,998	UIRVQ
fåÅçãÉí~ñÉñéÉåëÉ	(1,443)	EOIVTNF
mêçÑáíÑêçãÅçåíáåìáåÖçéÉê~íáçåëÑçêíÜÉóÉ~ê	5,555	RISOP
mêçÑáíLEäçëëFÑêçãÇáëÅçåíáåìÉÇçéÉê~íáçåëEåÉíçÑáåÅçãÉí~ñF	1,366	ESITURF
mêçÑáíLEäçëëFÑçêíÜÉóÉ~ê~ííêáÄìí~ÄäÉíçW
ÓÉèìáíóÜçäÇÉêëçÑíÜÉ`çãé~åó	6,522	ENIQMVF
ÓãáåçêáíóáåíÉêÉëí	399	OQT
mêçÑáíLEäçëëFÑçêíÜÉóÉ~ê	6,921	ENINSOF

4. Dividends

qÜÉ=ÇáêÉÅíçêë=Ü~îÉ=åçí=ÇÉÅä~êÉÇ=~=Ñáå~ä=ÇáîáÇÉåÇ=Ñçê=íÜÉ=óÉ~ê=ÉåÇÉÇ=PM=gìåÉ=OMMUK==

^ë=åç=áåíÉêáã=ÇáîáÇÉåÇ=ï~ë=ÇÉÅä~êÉÇI=íÜáë=Ü~ë=êÉëìäíÉÇ=áå=åç=ÇáîáÇÉåÇë=ÄÉáåÖ=é~áÇ=Ñçê=íÜÉ=óÉ~ê=ÉåÇÉÇ=PM=gìåÉ=OMMUK=

5. Review of operations and results

^=êÉîáÉï=çÑ=íÜÉ=dêçìéÛë=çéÉê~íáçåë=Ñçê=íÜÉ=Ñáå~åÅá~ä=óÉ~ê=~åÇ=íÜÉ=êÉëìäíë=çÑ=íÜçëÉ=çéÉê~íáçåë=~êÉ=Åçåí~áåÉÇ=áå=é~ÖÉë=N=íç=S=çÑ=íÜÉ=çåÅáëÉ=^ååì~ä=oÉéçêí=~åÇ=áå=é~êíáÅìä~ê=áå=íÜÉ bñÉÅìíáîÉ=Ü~áêã~åÛë=oÉéçêí=ëÉÅíáçåK

6. Earnings per share

_~ëáÅ=É~êåáåÖë=éÉê=ëÜ~êÉ=Ñçê=íÜÉ=óÉ~ê=ÉåÇÉÇ=PM=gìåÉ=OMMU=ï~ë=NSKS=ÅÉåíëK==qÜáë=Åçãé~êÉë=íç=~=Ä~ëáÅ=äçëë=éÉê=ëÜ~êÉ=çÑ=PKU=ÅÉåíë=Ñçê=íÜÉ=éêÉîáçìë=óÉ~êK

7. Significant change in the company’s affairs

qÜÉ=ÇáêÉÅíçêë=~êÉ=åçí=~ï~êÉ=çÑ=~åó=ëáÖåáÑáÅ~åí=ÅÜ~åÖÉ=áå=íÜÉ=dêçìéÛë=ëí~íÉ=çÑ=~ÑÑ~áêë=íÜ~í=çÅÅìêêÉÇ=ÇìêáåÖ=íÜÉ=Ñáå~åÅá~ä=óÉ~ê=åçí=çíÜÉêïáëÉ=ÇáëÅäçëÉÇ=áå=íÜáë=êÉéçêí=çê=íÜÉ=ÅçåëçäáÇ~íÉÇ ~ÅÅçìåíëK

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

DIRECTORS’ REPORT (CONTINUED)

8. Events subsequent to reporting date

qÜÉ=ÇáêÉÅíçêë=~êÉ=åçí=~ï~êÉ=çÑ=~åó=ã~ííÉê=çê=ÅáêÅìãëí~åÅÉ=Ü~îáåÖ=~êáëÉå=ëáåÅÉ=íÜÉ=ÉåÇ=çÑ=íÜÉ=Ñáå~åÅá~ä=óÉ~ê=~åÇ=íÜÉ=Ç~íÉ=çÑ=íÜáë=êÉéçêí=íÜ~í=Ü~ë=ëáÖåáÑáÅ~åíäó=~ÑÑÉÅíÉÇI=çê=ã~ó=ëáÖåáÑáÅ~åíäó ~ÑÑÉÅíW

E~F íÜÉ=dêçìéÛë=çéÉê~íáçåëX EÄF íÜÉ=êÉëìäíë=çÑ=íÜçëÉ=çéÉê~íáçåëX=çê EÅF íÜÉ=dêçìéÛë=ëí~íÉ=çÑ=~ÑÑ~áêë áå=ÑìíìêÉ=óÉ~êëK

9. Likely developments

qÜÉ=dêçìé=ïáää=ÅçåíáåìÉ=íç=Éî~äì~íÉ=~åÇ=äççâ=Ñçê=çééçêíìåáíáÉë=íç=Öêçï=áíë=ÄìëáåÉëëK==fí=ïáää=~ÅíáîÉäó=éìêëìÉ=ëíê~íÉÖáÅ=~Åèìáëáíáçåë=áÑ=íÜÉó=Ñáí=ïáíÜ=íÜÉ=ÅçêÉ=ÄìëáåÉëë=çÑ=íÜÉ=dêçìé=~åÇ=Ü~îÉ íÜÉ=éçíÉåíá~ä=íç=áåÅêÉ~ëÉ=~åÇ=ã~ñáãáëÉ=ëÜ~êÉÜçäÇÉê=ïÉ~äíÜK

få=íÜÉ=çéáåáçå=çÑ=ÇáêÉÅíçêë=áí=ïçìäÇ=ÄÉ=éêÉàìÇáÅá~ä=íç=íÜÉ=dêçìéÛë=áåíÉêÉëíë=áÑ=~åó=ÑìêíÜÉê=áåÑçêã~íáçå=çå=äáâÉäó=ÇÉîÉäçéãÉåíë=~åÇ=ÉñéÉÅíÉÇ=êÉëìäíë=çÑ=çéÉê~íáçåë=ï~ë=áåÅäìÇÉÇ=áå=íÜáë êÉéçêíK

10. Remuneration report

oÉãìåÉê~íáçå=áë=êÉÑÉêêÉÇ=íç=~ë=ÅçãéÉåë~íáçå=íÜêçìÖÜçìí=íÜáë=êÉãìåÉê~íáçå=êÉéçêíK=

qÜÉ=ÉåíáêÉ=êÉãìåÉê~íáçå=êÉéçêí=Ü~ë=ÄÉÉå=~ìÇáíÉÇ=Äó=íÜÉ=`çãé~åóÛë=ÉñíÉêå~ä=~ìÇáíçêI=hmjdK

10.1 Key Management Personnel (KMPs)

hjmë=Ü~îÉ=~ìíÜçêáíó=~åÇ=êÉëéçåëáÄáäáíó=Ñçê=éä~ååáåÖI=ÇáêÉÅíáåÖ=~åÇ=ÅçåíêçääáåÖ=íÜÉ=~ÅíáîáíáÉë=çÑ=íÜÉ=çãé~åó=~åÇ=íÜÉ=dêçìéK==qÜÉ=hjmë=áåÅäìÇÉ=íÜÉ=ÇáêÉÅíçêë=~åÇ=íÜÉ=R=ÉñÉÅìíáîÉë= ÉñÉêÅáëáåÖ=íÜÉ=ÖêÉ~íÉëí=Åçåíêçä=çîÉê=íÜÉ=dêçìéÛë=~ÅíáîáíáÉë=E~ë=êÉÑÉêêÉÇ=íç=áå=pÉÅíáçå=PMM^=çÑ=íÜÉ=çêéçê~íáçåë=^Åí=OMMNFK

qÜÉ=ÑçääçïáåÖ=ïÉêÉ=hjmë=çÑ=íÜÉ=dêçìé=~í=~åó=íáãÉ=ÇìêáåÖ=íÜÉ=êÉéçêíáåÖ=éÉêáçÇ=~åÇ=ìåäÉëë=çíÜÉêïáëÉ=áåÇáÅ~íÉÇ=ïÉêÉ=hjmë=Ñçê=íÜÉ=ÉåíáêÉ=éÉêáçÇW

Non-executive directors Executives g=_çêçë ^m=eçÅâäÉóI=ÜáÉÑ=cáå~åÅá~ä=lÑÑáÅÉê oj=jÅiÉ~åI=^j=EêÉëáÖåÉÇ=R=kçîÉãÄÉê=OMMTF j=oáÇäÉóI=ÜáÉÑ=fåÑçêã~íáçå=lÑÑáÅÉê _c=k~òÉê dk=táäíçåI=dêçìé=dÉåÉê~ä=j~å~ÖÉê=Ó=^ìíçãçíáîÉ=E~ééçáåíÉÇ=N=kçîÉãÄÉê=OMMTF ge=káÅâëçå=E~ééçáåíÉÇ=R=kçîÉãÄÉê=OMMTF g=çääáI=çãé~åó=pÉÅêÉí~êó= ag=_ÉáëäÉóI=dêçìé=dÉåÉê~ä=j~å~ÖÉê=Ó=^ìíçãçíáîÉ=EêÉëáÖåÉÇ=S=pÉéíÉãÄÉê=OMMTF mi=qçÇÇI=dêçìé=eo=j~å~ÖÉê=EêÉëáÖåÉÇ=PM=j~ó=OMMUF

Executive directors

o_=cäóååI=bñÉÅìíáîÉ=`Ü~áêã~å=

s=pÅáÇçåÉI=aáêÉÅíçê=~åÇ=dêçìé=dÉåÉê~ä=j~å~ÖÉê=Ó=fåÇìëíêá~ä=E~ééçáåíÉÇ=~=aáêÉÅíçê=çå=OO=cÉÄêì~êó=OMMUF

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

DIRECTORS’ REPORT (CONTINUED)

10. Remuneration report (continued)

10.2 Principles used to determine the nature and amount of compensation

Non-executive directors

cÉÉë=é~áÇ=íç=åçåJÉñÉÅìíáîÉ=ÇáêÉÅíçêë=êÉÑäÉÅí=íÜÉ=ÇÉã~åÇë=ïÜáÅÜ=~êÉ=ã~ÇÉ=çåI=~åÇ=íÜÉ=êÉëéçåëáÄáäáíáÉë=çÑI=íÜÉ=ÇáêÉÅíçêëK==kçåJÉñÉÅìíáîÉ=ÇáêÉÅíçêëÛ=ÑÉÉë=~êÉ=êÉîáÉïÉÇ=~ååì~ääó=Äó=íÜÉ oÉãìåÉê~íáçå=çããáííÉÉK==qÜÉ=oÉãìåÉê~íáçå=çããáííÉÉ=~äëç=ëÉÉâë=íÜÉ=~ÇîáÅÉ=çÑ=áåÇÉéÉåÇÉåí=êÉãìåÉê~íáçå=Åçåëìäí~åíë=íç=ÉåëìêÉ=åçåJÉñÉÅìíáîÉ=ÇáêÉÅíçêëÛ=ÑÉÉë=~êÉ=~ééêçéêá~íÉ=~åÇ=áå äáåÉ=ïáíÜ=íÜÉ=ã~êâÉíK==qÜÉ=bñÉÅìíáîÉ=`Ü~áêã~åÛë=ÑÉÉë=~êÉ=ÇÉíÉêãáåÉÇ=áåÇÉéÉåÇÉåíäó=íç=íÜÉ=ÑÉÉë=çÑ=åçåJÉñÉÅìíáîÉ=ÇáêÉÅíçêë=Ä~ëÉÇ=çå=Åçãé~ê~ÄäÉ=êçäÉë=áå=íÜÉ=ÉñíÉêå~ä=ã~êâÉíK==kçåJ ÉñÉÅìíáîÉ=ÇáêÉÅíçêë=Çç=åçí=êÉÅÉáîÉ=~åó=ÉèìáíóJÄ~ëÉÇ=ÅçãéÉåë~íáçåK

Directors’ fees

kçåJÉñÉÅìíáîÉ=ÇáêÉÅíçêëÛ=ÑÉÉë=~êÉ=ÇÉíÉêãáåÉÇ=ïáíÜáå=~å=~ÖÖêÉÖ~íÉ=ÇáêÉÅíçêëÛ=ÑÉÉë=éççä=äáãáíI=ïÜáÅÜ=áë=éÉêáçÇáÅ~ääó=êÉÅçããÉåÇÉÇ=Ñçê=~ééêçî~ä=Äó=ëÜ~êÉÜçäÇÉêëK==qÜÉ=íçí~ä=éççä=ÅìêêÉåíäó ëí~åÇë=~í=ARRMIMMM=éÉê=~ååìãI=ïÜáÅÜ=ï~ë=ä~ëí=~ééêçîÉÇ=Äó=ëÜ~êÉÜçäÇÉêë=áå=kçîÉãÄÉê=OMMQ=ïáíÜ=ÉÑÑÉÅí=Ñêçã=N=gìäó=OMMQK==qÜÉ=_ç~êÇ=ÇÉíÉêãáåÉë=íÜÉ=~ääçÅ~íáçå=çÑ=íÜÉ=ã~ñáãìã ~ãçìåí=~ééêçîÉÇ=Äó=ëÜ~êÉÜçäÇÉêë=~ãçåÖëí=íÜÉ=êÉëéÉÅíáîÉ=ÇáêÉÅíçêëI=Ü~îáåÖ=êÉÖ~êÇ=íç=íÜÉáê=ÇìíáÉë=~åÇ=êÉëéçåëáÄáäáíáÉëK==aáêÉÅíçêëÛ=ÑÉÉë=~êÉ=åçí=ÇáêÉÅíäó=äáåâÉÇ=íç=`çãé~åó=éÉêÑçêã~åÅÉ åçê=~êÉ=ÄçåìëÉë=é~áÇ=íç=åçåJÉñÉÅìíáîÉ=ÇáêÉÅíçêëK==qÜÉêÉ=áë=åç=éêçîáëáçå=Ñçê=êÉíáêÉãÉåí=~ääçï~åÅÉë=íç=ÄÉ=é~áÇ=íç=åçåJÉñÉÅìíáîÉ=ÇáêÉÅíçêëK

cçê=íÜÉ=óÉ~ê=ÉåÇÉÇ=PM=gìåÉ=OMMU=íÜÉ=_ç~êÇ=ÇÉíÉêãáåÉÇ=íÜ~í=åçåJÉñÉÅìíáîÉ=ÇáêÉÅíçêë=ÑÉÉë=ÄÉ=~ääçÅ~íÉÇ=~ë=Ñçääçïë=EÇçÉë=åçí=áåÅäìÇÉ=ëí~íìíçêó=ëìéÉê~ååì~íáçå=ÅçåíêáÄìíáçåëFW

`Ü~áêã~åEÄ~ëÉÑÉÉFEáF	Aåáä
kçåJÉñÉÅìíáîÉaáêÉÅíçêëEÄ~ëÉÑÉÉF	ATMIMMM
fåíÉêëí~íÉkçåJÉñÉÅìíáîÉaáêÉÅíçêEÄ~ëÉÑÉÉF	AUNIMMM
`Ü~áêã~åçÑ^ìÇáíCoáëâ`çããáííÉÉEáå~ÇÇáíáçåíçÄ~ëÉÑÉÉF	ANOIMMM
`Ü~áêã~åçÑoÉãìåÉê~íáçå`çããáííÉÉEáå~ÇÇáíáçåíçÄ~ëÉÑÉÉF	AVIMMM

EáF qÜÉ=çãé~åó=Ü~ë=~å=bñÉÅìíáîÉ=Ü~áêã~å=ïÜç=áë=é~áÇ=~=ë~ä~êó=Äìí=åç=ëÉé~ê~íÉ=ÇáêÉÅíçê=ÑÉÉëK

Executive pay

qÜÉ=çÄàÉÅíáîÉ=çÑ=íÜÉ=`çãé~åóÛë=ÉñÉÅìíáîÉ=êÉï~êÇ=Ñê~ãÉïçêâ=áë=íç=ÉåëìêÉ=íÜ~í=êÉï~êÇë=éêçéÉêäó=êÉÑäÉÅí=ÇìíáÉë=~åÇ=êÉëéçåëáÄáäáíáÉëI=~êÉ=ÅçãéÉíáíáîÉ=áå=êÉí~áåáåÖ=~åÇ=ãçíáî~íáåÖ=éÉçéäÉ=çÑ ÜáÖÜ=Å~äáÄêÉI=~åÇ=~êÉ=~ééêçéêá~íÉ=Ñçê=íÜÉ=êÉëìäíë=ÇÉäáîÉêÉÇK==qÜÉ=Ñê~ãÉïçêâ=~äáÖåë=ÉñÉÅìíáîÉ=êÉï~êÇ=ïáíÜ=~ÅÜáÉîÉãÉåí=çÑ=ëíê~íÉÖáÅ=çÄàÉÅíáîÉë=~åÇ=íÜÉ=ÅêÉ~íáçå=çÑ=î~äìÉ=Ñçê=ëÜ~êÉÜçäÇÉêëK qÜÉ=Ñê~ãÉïçêâ=éêçîáÇÉë=~=ãáñ=çÑ=ÑáñÉÇ=~åÇ=î~êá~ÄäÉ=é~óI=~åÇ=Ü~ë=íÜêÉÉ=ÅçãéçåÉåíë=~ë=ÑçääçïëW

Ó Ä~ëÉ=é~ó=~åÇ=ÄÉåÉÑáíëI=áåÅäìÇáåÖ=ëìéÉê~ååì~íáçå=EÑáñÉÇ=~ååì~ä=ÅçãéÉåë~íáçåÒFX
Ó ëÜçêíJíÉêã=éÉêÑçêã~åÅÉ=áåÅÉåíáîÉëX=~åÇ
Ó äçåÖJíÉêã=éÉêÑçêã~åÅÉ=áåÅÉåíáîÉëK

qÜÉ=ÅçãÄáå~íáçå=çÑ=íÜÉëÉ=ÅçãéêáëÉë=íÜÉ=ÉñÉÅìíáîÉÛë=íçí~ä=ÅçãéÉåë~íáçåK==qÜáë=ÅçãéÉåë~íáçå=Ñê~ãÉïçêâ=~äëç=~ééäáÉë=íç=ÉñÉÅìíáîÉ=ÇáêÉÅíçêëK

qÜÉ=íçí~ä=ÅçãéÉåë~íáçå=çÑ=íÜÉ=bñÉÅìíáîÉ=Ü~áêã~å=êÉÑäÉÅíë=íÜÉ=ÅçãÄáå~íáçå=çÑ=ÇìíáÉë=ÑìäÑáääÉÇ=~ë=Ü~áêã~å=çÑ=íÜÉ=_ç~êÇ=~åÇ=~ë=j~å~ÖáåÖ=aáêÉÅíçê=çÑ=íÜÉ=`çãé~åóK

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

DIRECTORS’ REPORT (CONTINUED)

10. Remuneration report (continued)

10.2 Principles used to determine the nature and amount of compensation (continued)

Fixed annual compensation

cáñÉÇ=~ååì~ä=ÅçãéÉåë~íáçå=áë=ëíêìÅíìêÉÇ=~ë=~=íçí~ä=ÉãéäçóãÉåí=Åçëí=é~Åâ~ÖÉ=ïÜáÅÜ=áë=ÇÉäáîÉêÉÇ=~ë=~=ãáñ=çÑ=Å~ëÜ=~åÇ=éêÉëÅêáÄÉÇ=åçåJÅ~ëÜ=ÄÉåÉÑáíë=é~êíäó=~í=íÜÉ=ÉñÉÅìíáîÉÛë=ÇáëÅêÉíáçåK cáñÉÇ=~ååì~ä=ÅçãéÉåë~íáçå=Ñçê=ëÉåáçê=ÉñÉÅìíáîÉë=áë=êÉîáÉïÉÇ=~ååì~ääó=Äó=íÜÉ=oÉãìåÉê~íáçå=`çããáííÉÉ=íç=ÉåëìêÉ=íÜÉ=ÉñÉÅìíáîÉÛë=é~ó=áë=ÅçãéÉíáíáîÉ=ïáíÜ=íÜÉ=ã~êâÉíK==^å=ÉñÉÅìíáîÉÛë é~ó=áë=~äëç=êÉîáÉïÉÇ=çå=éêçãçíáçåK==qÜÉêÉ=~êÉ=åç=Öì~ê~åíÉÉÇ=ÑáñÉÇ=~ååì~ä=ÅçãéÉåë~íáçå=áåÅêÉ~ëÉë=ëÉí=áå=~åó=ëÉåáçê=ÉñÉÅìíáîÉÛë=Åçåíê~ÅíK

qÜÉ=åçåJÅ~ëÜ=ÄÉåÉÑáíë=êÉÅÉáîÉÇ=~ë=é~êí=çÑ=ÑáñÉÇ=~ååì~ä=ÅçãéÉåë~íáçå=áåÅäìÇÉ=íÜÉ=éêçîáëáçå=çÑ=~=Ñìääó=ã~áåí~áåÉÇ=ãçíçê=îÉÜáÅäÉ=~åÇ=ÅçåíêáÄìíáçåë=íç=~ÅÅìãìä~íáçå=Ä~ëÉÇ=ëìéÉê~ååì~íáçå ÑìåÇëK==

Performance linked compensation

pÜçêíJíÉêã=áåÅÉåíáîÉë

pÜçêíJíÉêã=Å~ëÜ=áåÅÉåíáîÉë=çÑ=ìé=íç=ORB=çÑ=ÑáñÉÇ=~ååì~ä=ÅçãéÉåë~íáçå=EÑçê=íÜÉ=bñÉÅìíáîÉ=`Ü~áêã~åI=PRB=çÑ=Ä~ëÉ=ë~ä~êóF=~êÉ=é~ó~ÄäÉ=íç=íÜÉ=ëÉåáçê=ÉñÉÅìíáîÉë=ìéçå=íÜÉ=~ÅÜáÉîÉãÉåí=çÑ î~êáçìë=~ååì~ä=éÉêÑçêã~åÅÉ=í~êÖÉíëI=ïÜáÅÜ=ÅìêêÉåíäó=áåÅäìÇÉ=åÉí=éêçÑáí=~ÑíÉê=í~ñI=êÉíìêå=çå=ÉèìáíóI=ÄìÇÖÉí=É~êåáåÖë=ÄÉÑçêÉ=áåíÉêÉëí=~åÇ=í~ñI=êÉíìêå=çå=Å~éáí~ä=ÉãéäçóÉÇ=EÑçê=ÅÉêí~áå= ÉñÉÅìíáîÉë=çå=~=ÅçåëçäáÇ~íÉÇ=Ä~ëáë=~åÇ=Ñçê=çíÜÉêë=çå=~=ÄìëáåÉëë=ìåáí=Ä~ëáëF=~åÇ=éÉêëçå~ä=Öç~äëK==pìÅÜ=í~êÖÉíë=ÉåëìêÉ=íÜ~í=áåÅÉåíáîÉë=~êÉ=éêáåÅáé~ääó=é~áÇ=ïÜÉå=î~äìÉ=Ü~ë=ÄÉÉå=ÅêÉ~íÉÇ=Ñçê ëÜ~êÉÜçäÇÉêë=~åÇ=ïÜÉå=éêçÑáí=áë=ÅçåëáëíÉåí=ïáíÜ=íÜÉ=ÄìÇÖÉíK==

b~ÅÜ=óÉ~ê=íÜÉ=oÉãìåÉê~íáçå=`çããáííÉÉ=ÅçåëáÇÉêë=íÜÉ=~ééêçéêá~íÉ=í~êÖÉíë=~åÇ=ã~ñáãìã=é~óçìíë=ìåÇÉê=íÜÉ=ëÜçêíJíÉêã=áåÅÉåíáîÉ=éä~å=Ñçê=êÉÅçããÉåÇ~íáçå=íç=íÜÉ=_ç~êÇK==fåÅÉåíáîÉ é~óãÉåíë=ã~ó=ÄÉ=~ÇàìëíÉÇ=ìé=çê=Ççïå=Äó=íÜÉ=_ç~êÇ=áå=äáåÉ=ïáíÜ=íÜÉ=ÇÉÖêÉÉ=çÑ=~ÅÜáÉîÉãÉåí=~Ö~áåëí=í~êÖÉí=éÉêÑçêã~åÅÉ=äÉîÉäëK

içåÖJíÉêã=áåÅÉåíáîÉë

içåÖ=íÉêã=áåÅÉåíáîÉë=~êÉ=éêçîáÇÉÇ=íç=ëÉåáçê=ã~å~ÖÉãÉåíI=áåÅäìÇáåÖ=âÉó=ã~å~ÖÉãÉåí=éÉêëçååÉäI=íÜêçìÖÜ=íÜÉ=bñÉÅìíáîÉ=içåÖ=qÉêã=fåÅÉåíáîÉ=mä~å=EbiqfmÒF=ïÜáÅÜ=ï~ë=~ééêçîÉÇ=Äó ëÜ~êÉÜçäÇÉêë=~í=íÜÉ=OMMP=~ååì~ä=ÖÉåÉê~ä=ãÉÉíáåÖK=

råÇÉê=íÜÉ=biqfmI=ÉäáÖáÄäÉ=ÉñÉÅìíáîÉë=ïÉêÉ=çÑÑÉêÉÇ=Ñìääó=é~áÇ=çêÇáå~êó=ëÜ~êÉë=áå=íÜÉ=`çãé~åó=ìé=íç=~=î~äìÉ=çÑ=ORB=çÑ=ÑáñÉÇ=~ååì~ä=ÅçãéÉåë~íáçå=~í=íÜÉ=ëí~êí=çÑ=íÜÉ=éÉêÑçêã~åÅÉ=éÉêáçÇI ìéçå=~ÅÜáÉîáåÖ=ÅÉêí~áå=éÉêÑçêã~åÅÉ=ÅêáíÉêá~=ëÉí=Äó=íÜÉ=_ç~êÇK

^í=íÜÉ=OMMS=^ååì~ä=dÉåÉê~ä=jÉÉíáåÖ=ëÜ~êÉÜçäÇÉêë=~ééêçîÉÇ=~=êÉåÉï~ä=çÑ=íÜÉ=j~å~ÖáåÖ=aáêÉÅíçêÛë=é~êíáÅáé~íáçå=áå=biqfm=~ë=ïÉää=~ë=~å=~ãÉåÇãÉåí=íç=íÜÉ=é~êíáÅáé~íáçå=äÉîÉä=ïÜÉêÉÄó çÑÑÉêë=çÑ=çêÇáå~êó=ëÜ~êÉë=Ñçê=éÉêÑçêã~åÅÉ=éÉêáçÇë=ÅçããÉåÅáåÖ=çå=N=gìäó=OMMS=ïçìäÇ=ÄÉ=ÇÉíÉêãáåÉÇ=Äó=êÉÑÉêÉåÅÉ=íç=PRB=çÑ=Üáë=ÑáñÉÇ=~ååì~ä=ÅçãéÉåë~íáçåK

få=pÉéíÉãÄÉê=OMMT=íÜÉ=_ç~êÇ=~ãÉåÇÉÇ=íÜÉ=biqfm=ëç=~ë=íç=ÄÉííÉê=éêçîáÇÉ=Ñçê=áåÅÉåíáîÉë=íç=ÉñÉÅìíáîÉ=ã~å~ÖÉãÉåí=Äó=ÖáîáåÖ=íÜÉã=íÜÉ=ÅÜçáÅÉ=çÑ=ÉáíÜÉê=~å=çÑÑÉê=çÑ=Ñìääó=é~áÇ=ëÜ~êÉë=çê íÜÉ=áëëìÉ=çÑ=çéíáçåë=çîÉê=ìåáëëìÉÇ=çêÇáå~êó=ëÜ~êÉë=áå=íÜÉ=`çãé~åóK

lÑÑÉêë=Ü~îÉ=ÄÉÉå=ã~ÇÉ=áå=êÉëéÉÅí=çÑ=íÜÉ=P=óÉ~ê=éÉêÑçêã~åÅÉ=éÉêáçÇ=ÅçããÉåÅáåÖ=çå=N=gìäó=OMMQ=EíÜÉ=OMMQ=lÑÑÉêÒFI=çå=N=gìäó=OMMR=EíÜÉ=OMMR=lÑÑÉêÒFI=çå=N=gìäó=OMMS=EíÜÉ=OMMS lÑÑÉêÒF=~åÇ=çå=N=gìäó=OMMT=EíÜÉ=OMMT=lÑÑÉêÒFK

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

DIRECTORS’ REPORT (CONTINUED)

10. Remuneration report (continued)

10.2 Principles used to determine the nature and amount of compensation (continued)

qÜÉ=éÉêÑçêã~åÅÉ=ÅêáíÉêá~=Ñçê=íÜÉ=OMMQI=OMMR=~åÇ=OMMS=lÑÑÉêë=ìåÇÉê=íÜÉ=biqfm=~êÉ=~ë=ÑçääçïëW

Ó låÉ=Ü~äÑ=çÑ=íÜÉ=çÑÑÉêÉÇ=ëÜ~êÉë=ïáää=îÉëí=íç=íÜÉ=é~êíáÅáé~åí=ìéçå=íÜÉ=~ÅÜáÉîÉãÉåí=çÑ=~=íÜêÉëÜçäÇ=É~êåáåÖë=éÉê=ëÜ~êÉ=EbmpÒF=ÖêçïíÜ=ÜìêÇäÉ=çîÉê=íÜÉ=êÉäÉî~åí=P=óÉ~ê=éÉêÑçêã~åÅÉ éÉêáçÇK==qÜÉ=çÑÑÉêÉÇ=ëÜ~êÉë=ïáää=ÄÉ=îÉëíÉÇ=áå=ÇáÑÑÉêáåÖ=~ãçìåíë=ÇÉéÉåÇáåÖ=çå=íÜÉ=éÉêÅÉåí~ÖÉ=ÖêçïíÜ=áå=bmp=áå=ÉñÅÉëë=çÑ=íÜÉ=íÜêÉëÜçäÇ=äÉîÉä=çîÉê=íÜÉ=P=óÉ~ê=éÉêáçÇ=ÄÉáåÖ= Åìãìä~íáîÉ=ANKRQU=bmp=Ñçê=íÜÉ=OMMQ=lÑÑÉêI=Åìãìä~íáîÉ=ANKSTR=Ñçê=íÜÉ=OMMR=lÑÑÉêI=Åìãìä~íáîÉ=ANKOSM=Ñçê=íÜÉ=OMMS=lÑÑÉê=~åÇ=Åìãìä~íáîÉ=ANKOOM=Ñçê=íÜÉ=OMMT=lÑÑÉê=ïáíÜ=~ää=çÑ=íÜÉ çÑÑÉêÉÇ=ëÜ~êÉë=ìåÇÉê=íÜÉëÉ=ÜìêÇäÉë=îÉëíÉÇ=çåÅÉ=~å=~ÇÇáíáçå~ä=NMB=ÖêçïíÜ=áå=bmp=çîÉê=~åÇ=~ÄçîÉ=íÜÉ=íÜêÉëÜçäÇ=äÉîÉäë=Ü~ë=ÄÉÉå=~ÅÜáÉîÉÇX=~åÇ

Ó låÉ=Ü~äÑ=çÑ=íÜÉ=çÑÑÉêÉÇ=ëÜ~êÉë=Ñçê=íÜÉ=OMMQ=lÑÑÉê=ïáää=îÉëí=íç=íÜÉ=é~êíáÅáé~åí=ìéçå=íÜÉ=~ÅÜáÉîÉãÉåí=çÑ=~=êÉä~íáîÉ=íçí~ä=ëÜ~êÉÜçäÇÉê=êÉíìêå=EqpoÒF=ÜìêÇäÉ=çîÉê=íÜÉ=êÉäÉî~åí=P=óÉ~ê= éÉêÑçêã~åÅÉ=éÉêáçÇK=qÜÉ=çÑÑÉêÉÇ=ëÜ~êÉë=ïáää=ÄÉ=îÉëíÉÇ=áå=ÇáÑÑÉêáåÖ=~ãçìåíë=ÇÉéÉåÇáåÖ=çå=íÜÉ=çãé~åóÛë=qpo=éÉêÑçêã~åÅÉ=çîÉê=íÜÉ=êÉäÉî~åí=P=óÉ~ê=éÉêÑçêã~åÅÉ=éÉêáçÇ= Åçãé~êÉÇ=íç=íÜÉ=qpo=éÉêÑçêã~åÅÉ=çÑ=íÜÉ=Åçãé~åáÉë=ÅçãéêáëáåÖ=íÜÉ=pCmL^pu=pã~ää=fåÇìëíêá~äë=fåÇÉñ=~í=íÜÉ=ëí~êí=çÑ=íÜÉ=êÉäÉî~åí=éÉêÑçêã~åÅÉ=éÉêáçÇ=Eçãé~ê~íçê=dêçìéÒFK==kç çÑÑÉêÉÇ=ëÜ~êÉëI=ìåÇÉê=íÜáë=ÜìêÇäÉI=ïáää=îÉëí=ìåÇÉê=íÜÉ=OMMQ=lÑÑÉê=ìåäÉëë=íÜÉ=çãé~åóÛë=qpo=éÉêÑçêã~åÅÉ=áë=~í=äÉ~ëí=Éèì~ä=íç=íÜÉ=qpo=éÉêÑçêã~åÅÉ=çÑ=íÜÉ=çãé~åó=ïÜáÅÜ=áë=~í=íÜÉ RMíÜ=éÉêÅÉåíáäÉ=çÑ=íÜÉ=çãé~ê~íçê=dêçìé=ê~åâÉÇ=Äó=qpoK==^ää=çÑÑÉêÉÇ=ëÜ~êÉë=ìåÇÉê=íÜáë=ÜìêÇäÉ=áå=íÜÉ=OMMQ=lÑÑÉê=ïáää=ÄÉ=îÉëíÉÇ=áÑ=íÜÉ=çãé~åóÛë=qpo=çîÉê=íÜÉ=íÜêÉÉ=óÉ~êë=áë=Éèì~ä íç=çê=ÖêÉ~íÉê=íÜ~å=íÜÉ=qpo=éÉêÑçêã~åÅÉ=çÑ=íÜÉ=çãé~åó=ïÜáÅÜ=áë=~í==íÜÉ=TRíÜ=éÉêÅÉåíáäÉ=çÑ=íÜÉ=çãé~ê~íçê=dêçìé=ê~åâÉÇ=Äó=qpoK

lÑÑÉêÉÇ=ëÜ~êÉë=ìåÇÉê=íÜÉ=OMMRI=OMMS=~åÇ=OMMT=lÑÑÉêë=~êÉ=ëìÄàÉÅí=íç=íÜÉ=~ÅÜáÉîÉãÉåí=çÑ=~=êÉíìêå=çå=Éèìáíó=EolbÒF=ÜìêÇäÉ=çîÉê=íÜÉ=êÉäÉî~åí=P=óÉ~ê=éÉêÑçêã~åÅÉ=éÉêáçÇK==råÇÉê íÜÉ=olb=ÜìêÇäÉ=~ää=çÑÑÉêÉÇ=ëÜ~êÉë=áå=íÜÉ=OMMRI=OMMS=~åÇ=OMMT=lÑÑÉêë=ïáää=ÄÉ=îÉëíÉÇ=áÑ=~=olb=í~êÖÉí=çÑ=~í=äÉ~ëí=NOB=áë=~íí~áåÉÇ=~ë=~í=íÜÉ=ÉåÇ=çÑ=íÜÉ=OMMTLMUI=OMMULMV=~åÇ=OMMVLNM Ñáå~åÅá~ä=óÉ~êë=êÉëéÉÅíáîÉäóK

qÜÉ=bmpI=qpo=~åÇ=olb=éÉêÑçêã~åÅÉ=ÜìêÇäÉë=ïÉêÉ=ÅÜçëÉå=íç=ÉåëìêÉ=íÜ~í=âÉó=ã~å~ÖÉãÉåí=éÉêëçååÉä=~êÉ=çåäó=êÉï~êÇÉÇ=ïÜÉå=ëÜ~êÉÜçäÇÉê=ïÉ~äíÜ=áë=áåÅêÉ~ëÉÇK

qÜÉ=oÉãìåÉê~íáçå=`çããáííÉÉ=ÅçåëáÇÉêë=íÜÉ=~ìÇáíÉÇ=Ñáå~åÅá~ä=êÉëìäíë=çÑ=íÜÉ=dêçìé=~åÇ=ëÉÉâë=ÉñíÉêå~ä=~ÇîáÅÉ=Ñêçã=Üìã~å=êÉëçìêÅÉë=Åçåëìäí~åíë=áå=~ëëÉëëáåÖ=íÜÉ=ÉñíÉåí=íç=ïÜáÅÜ=íÜÉ éÉêÑçêã~åÅÉ=ÜìêÇäÉë=Ü~îÉ=ÄÉÉå=ë~íáëÑáÉÇK

aìêáåÖ=íÜÉ=êÉéçêíáåÖ=éÉêáçÇI=íÜÉ=OMMQ=lÑÑÉê=ï~ë=~ëëÉëëÉÇ=~Ö~áåëí=íÜÉ=Éëí~ÄäáëÜÉÇ=éÉêÑçêã~åÅÉ=ÜìêÇäÉëK==^ë=íÜÉ=ãáåáãìã=ÅêáíÉêá~=Ñçê=ÄçíÜ=éÉêÑçêã~åÅÉ=ÜìêÇäÉë=ï~ë=åçí=~íí~áåÉÇI=~ää çÑÑÉêë=çÑ=ëÜ~êÉë=ìåÇÉê=íÜÉ=OMMQ=lÑÑÉê=ä~éëÉÇK==cìêíÜÉêãçêÉ=íÜÉ=OMMT=lÑÑÉê=~äëç=ä~éëÉÇ=~ë=íÜÉ=çåäó=âÉó=ã~å~ÖÉãÉåí=éÉêëçååÉä=ïÜç=íççâ=ìé=íÜÉ=çÑÑÉê=çÑ=Ñìääó=é~áÇ=ëÜ~êÉë=äÉÑí=íÜÉ `çãé~åó=ÇìêáåÖ=íÜÉ=OMMTLMU=Ñáå~åÅá~ä=óÉ~êK

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

DIRECTORS’ REPORT (CONTINUED)

10. Remuneration report (continued)

10.2 Principles used to determine the nature and amount of compensation (continued)

få=aÉÅÉãÄÉê=OMMUI=ÑçääçïáåÖ=~å=~ãÉåÇãÉåí=íç=íÜÉ=biqfmI=çéíáçåë=çîÉê=ìåáëëìÉÇ=çêÇáå~êó=ëÜ~êÉë=áå=íÜÉ=`çãé~åó=ïÉêÉ=Öê~åíÉÇ=íç=íÜÉ=ÉñÉÅìíáîÉ=ÇáêÉÅíçêë=~åÇ=âÉó=ã~å~ÖÉãÉåí= éÉêëçååÉäK

qÜÉ=íÉêãë=ìéçå=ïÜáÅÜ=íÜÉ=çéíáçåë=ïÉêÉ=áëëìÉÇ=~êÉ=~ë=ÑçääçïëW

Ó íÜÉ=ÉñÉêÅáëÉ=éêáÅÉ=çÑ=íÜÉ=çéíáçåë=áë=APKUUI=ïÜáÅÜ=áë=íÜÉ=îçäìãÉ=ïÉáÖÜíÉÇ=~îÉê~ÖÉ=éêáÅÉ=Est^mÒF=~í=ïÜáÅÜ=íÜÉ=ëÜ~êÉë=áå=íÜÉ=çãé~åó=íê~ÇÉÇ=çå=íÜÉ=^pu=ÇìêáåÖ=íÜÉ=PM=Ç~ó= éÉêáçÇ=ÑçääçïáåÖ=íÜÉ=êÉäÉ~ëÉ=çÑ=íÜÉ=çãé~åóÛë=~ìÇáíÉÇ=~ÅÅçìåíë=Ñçê=íÜÉ=óÉ~ê=ÉåÇÉÇ=PM=gìåÉ=OMMT=éäìë=NMBX
Ó íÜÉ=çéíáçåë=Ü~îÉ=~=íÉêã=çÑ=R=óÉ~êë=Ñêçã=íÜÉ=Ç~íÉ=çÑ=áëëìÉ=~åÇ=çéíáçåë=åçí=ÉñÉêÅáëÉÇ=Äó=íÜÉ=ÉåÇ=çÑ=íÜ~í=éÉêáçÇ=ïáää=ä~éëÉX
Ó íÜÉ=çéíáçåë=ã~ó=çåäó=ÄÉ=ÉñÉêÅáëÉÇ=áÑ=íÜÉ=éêáÅÉ=çÑ=íÜÉ=`çãé~åóÛë=ëÜ~êÉë=çå=^pu=EÇÉíÉêãáåÉÇ=Äó=êÉÑÉêÉåÅÉ=íç=~=R=Ç~ó=st^mF=ÉñÅÉÉÇë=ÅÉêí~áå=éÉêÅÉåí~ÖÉë=çÑ=ÖêçïíÜ=êÉäÉî~åí=íç=íÜÉ ÉñÉêÅáëÉ=éêáÅÉI=áå=é~êíáÅìä~êX
EáF çåÉ=íÜáêÇ=çÑ=íÜÉ=çéíáçåë=Å~å=ÄÉ=ÉñÉêÅáëÉÇ=áÑ=íÜÉ=R=Ç~ó=st^m=ÉñÅÉÉÇë=íÜÉ=ÉñÉêÅáëÉ=éêáÅÉ=çÑ=íÜÉ=çéíáçåë=Äó=NRBX
EááF çåÉ=íÜáêÇ=çÑ=íÜÉ=çéíáçåë=Å~å=ÄÉ=ÉñÉêÅáëÉÇ=áÑ=íÜÉ=R=Ç~ó=st^m=ÉñÅÉÉÇë=íÜÉ=ÉñÉêÅáëÉ=éêáÅÉ=çÑ=íÜÉ=çéíáçåë=Äó=PMBX=~åÇ=
EáááF çåÉ=íÜáêÇ=çÑ=íÜÉ=çéíáçåë=Å~å=ÄÉ=ÉñÉêÅáëÉÇ=áÑ=íÜÉ=R=Ç~ó=st^m=ÉñÅÉÉÇë=íÜÉ=ÉñÉêÅáëÉ=éêáÅÉ=çÑ=íÜÉ=çéíáçåë=Äó=QRBK

qÜÉ=éìêéçëÉ=çÑ=íÜÉ=áëëìÉ=çÑ=íÜÉ=léíáçåë=áë=íç=éêçîáÇÉ=ÉñÉÅìíáîÉ=ã~å~ÖÉãÉåí=ïáíÜ=~=ëíêçåÖ=áåÅÉåíáîÉ=Äó=~äáÖåáåÖ=íÜÉáê=êÉï~êÇë=ïáíÜ=íÜÉ=êÉíìêå=íç=ëÜ~êÉÜçäÇÉêë=ãÉ~ëìêÉÇ=Äó=íÜÉ= éÉêÑçêã~åÅÉ=çÑ=íÜÉ=`çãé~åóÛë=ëÜ~êÉ=éêáÅÉK

pÜ~êÉë=îÉëíÉÇ=ìåÇÉê=íÜÉ=biqfm=ïáää=ê~åâ=Éèì~ääó=ïáíÜ=~ää=çíÜÉê=ÉñáëíáåÖ=çêÇáå~êó=ëÜ~êÉë=áå=~ää=êÉëéÉÅíëI=áåÅäìÇáåÖ=Ü~îáåÖ=Ñìää=ÇáîáÇÉåÇ=~åÇ=îçíáåÖ=êáÖÜíëK==

Consequences of performance on shareholders wealth

få=ÅçåëáÇÉêáåÖ=íÜÉ=dêçìéÛë=éÉêÑçêã~åÅÉ=~åÇ=ÄÉåÉÑáíë=Ñçê=ëÜ~êÉÜçäÇÉêë=ïÉ~äíÜI=íÜÉ=oÉãìåÉê~íáçå=`çããáííÉÉ=Ü~îÉ=êÉÖ~êÇ=íç=íÜÉ=ÑçääçïáåÖ=ãÉ~ëìêÉë=áå=êÉëéÉÅí=çÑ=íÜÉ=ÅìêêÉåí=Ñáå~åÅá~ä óÉ~ê=~åÇ=íÜÉ=éêÉîáçìë=Ñçìê=Ñáå~åÅá~ä=óÉ~êëK

	2008	2007	2006	2005	2004
	$	$	$	$	$
mêçÑáíLEäçëëF~ííêáÄìí~ÄäÉíçÉèìáíóÜçäÇÉêëçÑíÜÉ`çãé~åó	6,522,000	ENIQMVIMMMF	VIPPTIMMM	NSIRRSIMMM	NQIUMMIMMM
aáîáÇÉåÇëé~áÇ	-	NOIQUVIMMM	OPIRNMIMMM	NOITMQIMMM	NNIMVNIMMM
`Ü~åÖÉáåëÜ~êÉéêáÅÉ	(2.59)	MKPM	ENKSMF	MKMU	MKTT

mêçÑáí=áë=ÅçåëáÇÉêÉÇ=~ë=çåÉ=çÑ=íÜÉ=Ñáå~åÅá~ä=éÉêÑçêã~åÅÉ=í~êÖÉíë=áå=ëÉííáåÖ=íÜÉ=ëÜçêíJíÉêã=áåÅÉåíáîÉëK==qÜÉ=éêçÑáí=~ãçìåíë=Ñçê=óÉ~êë=OMMQ=~åÇ=OMMR=ïÉêÉ=Å~äÅìä~íÉÇ=áå=~ÅÅçêÇ~åÅÉ=ïáíÜ éêÉîáçìë=^ìëíê~äá~å=d^^mK==qÜÉ=éêçÑáíLEäçëëF=~ãçìåíë=Ñçê=OMMS=çåï~êÇë=Ü~îÉ=ÄÉÉå=Å~äÅìä~íÉÇ=áå=~ÅÅçêÇ~åÅÉ=ïáíÜ=^ìëíê~äá~å=Éèìáî~äÉåíë=íç=fcop=E^fcopFK====aáîáÇÉåÇë=~åÇ=ÅÜ~åÖÉë=áå ëÜ~êÉ=éêáÅÉ=~êÉ=áåÅäìÇÉÇ=áå=íÜÉ=qpo=Å~äÅìä~íáçå=ïÜáÅÜ=áë=çåÉ=çÑ=íÜÉ=éÉêÑçêã~åÅÉ=ÅêáíÉêá~=~ëëÉëëÉÇ=Ñçê=íÜÉ=äçåÖJíÉêã=áåÅÉåíáîÉëK==cçê=íÜÉ=OMMR=lÑÑÉê=Ñçê=íÜÉ=äçåÖJíÉêã=áåÅÉåíáîÉëI=êÉíìêå çå=Éèìáíó=Ü~ë=ÄÉÉå=ìëÉÇ=~ë=çåÉ=çÑ=íÜÉ=éÉêÑçêã~åÅÉ=ÅêáíÉêá~=~ë=áí=áë=ÅçåëáÇÉêÉÇ=íç=ÄÉ=ÅçåëáëíÉåí=ïáíÜ=ÖêçïíÜ=áå=ëÜ~êÉÜçäÇÉê=ïÉ~äíÜK==qÜÉ=çíÜÉê=éÉêÑçêã~åÅÉ=ÅêáíÉêá~=~ëëÉëëÉÇ=Ñçê=íÜÉ=iqf=áë ÖêçïíÜ=áå=É~êåáåÖë=éÉê=ëÜ~êÉI=ïÜáÅÜ=~Ö~áå=í~âÉë=áåíç=~ÅÅçìåí=íÜÉ=dêçìéÛë=éêçÑáíK

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

DIRECTORS’ REPORT (CONTINUED)

10. Remuneration report (continued)

10.3 Details of compensation

qÜÉ=ÑçääçïáåÖ=í~ÄäÉ=éêçîáÇÉë=íÜÉ=ÇÉí~áäë=çÑ=íÜÉ=å~íìêÉ=~åÇ=~ãçìåí=çÑ=ÉäÉãÉåíë=çÑ=ÅçãéÉåë~íáçå=Ñçê=íÜÉ=ÇáêÉÅíçêë=~åÇ=íÜÉ=âÉó=ã~å~ÖÉãÉåí=éÉêëçååÉä=çÑ=íÜÉ=`çãé~åó=~åÇ=íÜÉ=dêçìé Ñçê=íÜÉ=óÉ~ê=ÉåÇÉÇ=PM=gìåÉ=OMMUK

		Short-term		Post		Other	Share-
		benefits		employment		long-term	based
				benefits		benefits	payment
Name	Cash salary and	STI cash bonus	Non- monetary	Super- annuation	(i)	Long service	Value of ELTIP	Termination benefits	Total $	Proportion of compensation	Value of options as
	fees	$	benefits	$		leave	shares			performance	proportion of
	$		$			provision	(options			related	remuneration
						$	& rights)			%	%
							$
Non-executive Directors
g_çêçë	J	J	J	UPISRU		J	J	J	UPISRU	J	J
gekáÅâëçåEááF	J	J	J	RTIUVR		J	J	J	RTIUVR	J	J
ojjÅiÉ~åEáááF	J	J	J	OVIMPP		J	J	J	OVIMPP	J	J
_ck~òÉê	UOIMMM	J	J	TIPUM		J	J	J	UVIPUM	J	J
qçí~ä	UOIMMM	J	J	NTTIVSS		J	J	J	ORVIVSS	J	J
Executive Directors
o_cäóåå	SSUITRO	J	J	RMIMMM		NISMS	QQIQMM	J	TSQITRU	RKT	RKT
spÅáÇçåÉEáîF	PSPIMTS	ENIUSRF	OTIMTP	PSIROU		NUIQRV	NPIQQO	J	QRSITNP	OKR	NKU
qçí~ä	NIMPNIUOU	ENIUSRF	OTIMTP	USIROU		OMIMSR	RTIUQO	J	NIOONIQTN	J	J

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

DIRECTORS’ REPORT (CONTINUED)

10. Remuneration report (continued)

10.3 Details of compensation (continued)

		Short-term		Post		Other	Share-
		benefits		employment		long-term	based
				benefits		benefits	payment
Name	Cash salary and	STI cash bonus	Non- monetary	Super- annuation	(i)	Long service	Value of ELTIP	Termination benefits	Total $	Proportion of compensation	Value of options as
	fees	$	benefits	$		leave	shares			performance	proportion of
	$		$			provision	(options			related	remuneration
						$	& rights)			%	%
							$
Other key management personnel
^meçÅâäÉó	OOVIRMR	J	J	UNITVM		SNQ	SITMQ	J	PNUISNP	OKN	OKN
joáÇäÉó	OPPIMRR	J	J	PRIMNO		RVO	SITMQ	J	OTRIPSP	OKQ	OKQ
dktáäíçåEîF	OOOIQTN	J	J	NVIMMT		OQT	SITMQ	J	OQUIQOV	OKT	OKT
g`çääá	NUTIURQ	EVRTF	UIOQQ	NTINSR		PIQPP	RIVVR	J	OONITPQ	OKP	NKR
miqçÇÇEîáF	NSMIVQO	ERNTF	J	OOINSO		J	J	QITQQ	NUTIPPN	J	J
ag_ÉáëäÉóEîááF	PRINUO	ENIUUSF	J	SIMMQ		ETVMF	J	OPISTN	SOINUN	J	J
qçí~ä	NIMSVIMMV	EPIPSMF	UIOQQ	NUNINQM		QIMVS	OSINMT	OUIQNR	NIPNPISRN	J	J
qçí~äÅçãéÉåë~íáçåâÉó
ã~å~ÖÉãÉåíéÉêëçååÉä	OINUOIUPT	ERIOORF	PRIPNT	QQRISPQ		OQINSN	UPIVQV	OUIQNR	OITVRIMUU	J	J

mêÉãáìãë=áå=êÉëéÉÅí=çÑ=íÜÉ=aáêÉÅíçêëÛ=~åÇ=lÑÑáÅÉêëÛ=áåëìê~åÅÉ=éçäáÅó=~êÉ=åçí=áåÅäìÇÉÇ=~ÄçîÉI=~ë=íÜÉ=éçäáÅó=ÇçÉë=åçí=ëéÉÅáÑó=íÜÉ=éêÉãáìã=é~áÇ=áå=êÉëéÉÅí=çÑ=áåÇáîáÇì~ä=ÇáêÉÅíçêë=~åÇ=çÑÑáÅÉêëK

EáF fåÅäìÇÉë=ëí~íìíçêó=ëìéÉê~ååì~íáçå=ÅçåíêáÄìíáçåë=~åÇ=~ÇÇáíáçå~ä=îçäìåí~êó=ÅçåíêáÄìíáçåë=áå=ëçãÉ=Å~ëÉëK EááF ^ééçáåíÉÇ=R=kçîÉãÄÉê=OMMTK

EáááF oÉëáÖåÉÇ=R=kçîÉãÄÉê=OMMTK EáîF ^ééçáåíÉÇ=OO=cÉÄêì~êó=OMMUK EîF ^ééçáåíÉÇ=N=kçîÉãÄÉê=OMMTK EîáF oÉëáÖåÉÇ=PM=j~ó=OMMUK EîááF oÉëáÖåÉÇ=S=pÉéíÉãÄÉê=OMMT

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

DIRECTORS’ REPORT (CONTINUED)

10. Remuneration report (continued)

10.3 Details of compensation (continued)

		Short-term		Post		Other	Share-
		benefits		employment		long-term	based
				benefits		benefits	payment
Name	Cash salary and	STI cash bonus	Non- monetary	Super- annuation	(i)	Long service	Value of ELTIP	Termination benefits	Total $	Proportion of compensation	Value options	of as
	fees	$	benefits	$		leave	shares			performance	proportion of
	$		$			provision	(options			related	remuneration
						$	& rights)			%	%
							$
Non-executive Directors
g_çêçë	RUIMMM	J	J	RIOOM		J	J	J	SPIOOM	J		J
tdhÉåíEááF	QMITRV	J	J	PISSU		J	J	J	QQIQOT	J		J
`jhóäÉEááF	OMIPTV	J	J	NIUPQ		J	J	J	OOIONP	J		J
ojjÅiÉ~å	J	J	J	TOIOST		J	J	J	TOIOST	J		J
_ck~òÉê	J	J	J	TRIPNV		J	J	J	TRIPNV	J		J
qçí~ä	NNVINPU	J	J	NRUIPMU		J	J	J	OTTIQQS	J		J
Executive Directors
o_cäóååEáááF	NSQITPR	J	J	NMMIMMM		QSV	J	J	OSRIOMQ	J		J
`gdäÉååEáîF	QMSIUUV	OIMMM	NOIUQM	PTIROT		EOIUORF	NRIRSS	QSTIMTT	VPVIMTQ	NKV		J
qçí~ä	RTNISOQ	OIMMM	NOIUQM	NPTIROT		EOIPRSF	NRIRSS	QSTIMTT	NIOMQIOTU	J		J

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

DIRECTORS’ REPORT (CONTINUED)

10. Remuneration report (continued)

10.3 Details of compensation (continued)

		Short-term		Post		Other	Share-
		benefits		employment		long-term	based
				benefits		benefits	payment
Name	Cash salary and	STI cash bonus	Non- monetary	Super- annuation	(i)	Long service	Value of ELTIP	Termination benefits	Total $	Proportion of compensation	Value options	of as
	fees	$	benefits	$		leave	shares			performance	proportion of
	$		$			provision	(options			related	remuneration
						$	& rights)			%	%
							$
Other key management personnel
spÅáÇçåÉ	PNVIUSU	SQIQTR	OTIORV	OVIRMM		OQIPUQ	OQIQVP	J	QUVIVTV	NUKO		J
ag_ÉáëäÉó	OUNIMQQ	NSINMM	NNIUPQ	OQIPVO		RVS	VIVTO	J	PQPIVPU	TKS		J
p^`ççéÉêEîF	OQUISMM	TR	NTIMMS	OQISRQ		ENTIROUF	TIMUO	J	OTVIUUV	OKS		J
gpcìêåÉëëEîáF	NURINOU	NPIUVO	PUINSV	NTIMQN		EQNNF	SIROP	PPIMMM	OVPIPQO	TKM		J
g`çääá	NRUIMOT	NQINVS	NNIOQU	NQIQUU		NMITRR	NOIVNR	J	OONISOV	NOKO		J
^meçÅâäÉóEîááF	TIOTO	J	J	OPIQUN		NVS	J	J	PMIVQV	J		J
joáÇäÉóEîáááF	OMIMPR	J	J	NISMT		NQP	J	J	ONITUR	J		J
miqçÇÇEáñF	UOINNR	J	J	UIVSO		J	J	J	VNIMTT	J		J
qçí~ä	NIPMOIMUV	NMUITPU	NMRIRNS	NQQINOR		NUINPR	SMIVUR	PPIMMM	NITTOIRUU	J		J
Total compensation key
managementpersonnel	1,992,851	110,738	118,356	439,960		15,779	76,551	500,077	3,254,312	-		-

EáF fåÅäìÇÉë=ëí~íìíçêó=ëìéÉê~ååì~íáçå=ÅçåíêáÄìíáçåë=~åÇ=~ÇÇáíáçå~ä=îçäìåí~êó=ÅçåíêáÄìíáçåë=áå=ëçãÉ=Å~ëÉëK EááF oÉëáÖåÉÇ=S=kçîÉãÄÉê=OMMSK EáááF ^ééçáåíÉÇ=Ü~áêã~å=T=kçîÉãÄÉê=OMMSX=~ééçáåíÉÇ=bñÉÅìíáîÉ=Ü~áêã~å=NN=^éêáä=OMMTK EáîF oÉëáÖåÉÇ=~ë=j~å~ÖáåÖ=aáêÉÅíçê=NN=^éêáä=OMMTK EîF oÉëáÖåÉÇ=U=gìåÉ=OMMTK EîáF oÉëáÖåÉÇ=OU=gìåÉ=OMMTK EîááF ^ééçáåíÉÇ=OU=j~ó=OMMTK EîáááF ^ééçáåíÉÇ=OV=j~ó=OMMTK EáñF ^ééçáåíÉÇ=OO=g~åì~êó=OMMTK

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

DIRECTORS’ REPORT (CONTINUED)

10. Remuneration report (continued)

10.4 Value of Shares

qÜÉ=Ñ~áê=î~äìÉ=çÑ=ëÉêîáÅÉë=êÉÅÉáîÉÇ=áå=êÉíìêå=Ñçê=íÜÉ=çÑÑÉêë=çÑ=íÜÉ=biqfm=ëÜ~êÉë=Ü~îÉ=ÄÉÉå=Å~äÅìä~íÉÇ=~í=íÜÉ=Ç~íÉ=çÑ=Öê~åí=ìëáåÖ=~=_ä~ÅâJpÅÜçäÉë=ãçÇÉä=áåÅçêéçê~íáåÖ=íÜÉ=Ñ~Åíçêë=~åÇ ~ëëìãéíáçåë=ÇÉí~áäÉÇ=ÄÉäçïK==qÜÉ=Ñ~áê=î~äìÉ=çÑ=íÜÉ=ëÉêîáÅÉë=áë=êÉãÉ~ëìêÉÇI=Ü~îáåÖ=êÉÖ~êÇ=íç=åçåJã~êâÉí=~åÇ=ëÉêîáÅÉ=ÅçåÇáíáçåë=çåäóI=~í=É~ÅÜ=Ä~ä~åÅÉ=ëÜÉÉí=Ç~íÉ=~åÇ=~í=ëÉííäÉãÉåí=Ç~íÉK

Grant date	Expiry date	Fair value	Exercise	Price of shares	Estimated	Risk free	Dividend
		per share	price	ongrant date	volatility	interest rate	yield
NgìäóOMMQ	PMgìåÉOMMT	AQKTN	AMKMN	ARKTO	OQB	RKQB	SKQB
OUgìåÉOMMS	PMgìåÉOMMU	APKRO	AMKMN	AQKOM	ORB	RKNB	UKSB
PlÅíçÄÉêOMMS	PMgìåÉOMMV	APKQN	AMKMN	AQKOS	OPB	RKUB	TKQB

10.5 Analysis of bonuses included in compensation

aÉí~áäë=çÑ=íÜÉ=îÉëíáåÖ=éêçÑáäÉ=çÑ=íÜÉ=ëÜçêíJíÉêã=áåÅÉåíáîÉ=Å~ëÜ=ÄçåìëÉë=~ï~êÇÉÇ=~ë=ÅçãéÉåë~íáçå=íç=É~ÅÜ=ÇáêÉÅíçê=~åÇ=íÜÉ=âÉó=ã~å~ÖÉãÉåí=éÉêëçååÉä=çÑ=íÜÉ=`çãé~åó=~åÇ=dêçìé=~êÉ ÇÉí~áäÉÇ=ÄÉäçïW

	*Short-Term Incentive*	*Cash Bonus*
	*included in compensation*	*% vested inyear*	*% forfeited inyear*
Executive Directors
o_cäóåå	J	J	J
spÅáÇçåÉ	ENIUSRFEáF	J	NMM
Other key management personnel
^meçÅâäÉó	J	J	J
joáÇäÉó	J	J	J
dktáäíçå	J	J	J
g`çääá	EVRTFEáF	J	NMM
miqçÇÇ	ERNTFEáF	J	NMM
ag_ÉáëäÉó	ENIUUSFEáF	J	NMM

EáF=íÜÉëÉ=~ãçìåíë=êÉéêÉëÉåí=íÜÉ=ÇáÑÑÉêÉåÅÉ=ÄÉíïÉÉå=íÜÉ=~ÅÅêì~ä=~åÇ=~Åíì~ä=é~óãÉåí=Ñçê=íÜÉ=óÉ~ê=ÉåÇÉÇ=PM=gìåÉ=OMMTK

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

DIRECTORS’ REPORT (CONTINUED)

10. Remuneration report (continued)

10.6 Employment contracts

çãéÉåë~íáçå=~åÇ=çíÜÉê=íÉêãë=çÑ=ÉãéäçóãÉåí=Ñçê=íÜÉ=bñÉÅìíáîÉ=Ü~áêã~å=~åÇ=çíÜÉê=âÉó=ã~å~ÖÉãÉåí=éÉêëçååÉä=~êÉ=Ñçêã~äáëÉÇ=áå=ÉãéäçóãÉåí=Åçåíê~ÅíëK==b~ÅÜ=Åçåíê~Åí=ÇÉ~äë=ïáíÜ íÜÉ=éêçîáëáçå=çÑ=ÑáñÉÇ=~ååì~ä=ÅçãéÉåë~íáçåI=ëÜçêíJíÉêã=áåÅÉåíáîÉëI=~åÇ=äçåÖJíÉêã=áåÅÉåíáîÉëK==líÜÉê=ã~àçê=éêçîáëáçåë=çÑ=íÜÉ=Åçåíê~Åíë=êÉä~íáåÖ=íç=ÅçãéÉåë~íáçå=~êÉ=ëÉí=çìí=ÄÉäçïW

o_=cäóååI=bñÉÅìíáîÉ=`Ü~áêã~å

Ó qÜÉ=Åçåíê~Åí=Ü~ë=åç=ÑáñÉÇ=íÉêãK
Ó cáñÉÇ=~ååì~ä=ÅçãéÉåë~íáçå=íç=ÄÉ=êÉîáÉïÉÇ=~ååì~ääó=Äó=íÜÉ=_ç~êÇK
Ó içåÖ=ëÉêîáÅÉ=äÉ~îÉ=áë=é~ó~ÄäÉ=Äó=íÜÉ=`çãé~åó=áå=~ÅÅçêÇ~åÅÉ=ïáíÜ=êÉäÉî~åí=ëí~íÉ=äÉÖáëä~íáçåK
Ó líÜÉê=íÜ~å=Ñçê=~å=~Åí=íÜ~í=ã~ó=Ü~îÉ=~=ëÉêáçìë=ÇÉíêáãÉåí~ä=ÉÑÑÉÅí=çå=íÜÉ=`çãé~åóI=ëìÅÜ=~ë=ïáäÑìä=ÇáëçÄÉÇáÉåÅÉI=Ñê~ìÇ=çê=ãáëÅçåÇìÅíI=íÉêãáå~íáçå=çÑ=ÉãéäçóãÉåí=êÉèìáêÉë=
NO=ãçåíÜë=åçíáÅÉ=Äó=íÜÉ=çãé~åóK==få=íÜÉ=ÉîÉåí=íÜ~í=íÜÉ=çãé~åó=åç=äçåÖÉê=êÉèìáêÉë=jê=cäóåå=íç=êÉéçêí=ÇáêÉÅíäó=íç=íÜÉ=_ç~êÇ=çê=áÑ=íÜÉ=çãé~åó=åç=äçåÖÉê=êÉèìáêÉë=jê=cäóåå=íç Å~êêó=çìí=íÜÉ=åçêã~ä=ÑìåÅíáçåë=çÑ=j~å~ÖáåÖ=aáêÉÅíçêI=íÜÉ=çãé~åó=ãìëí=é~ó=íÜÉ=Éèìáî~äÉåí=çÑ=íÜÉ=ÑáñÉÇ=~ååì~ä=ÅçãéÉåë~íáçå=~ë=~=êÉÇìåÇ~åÅó=é~óãÉåíK

s=pÅáÇçåÉI=aáêÉÅíçê=~åÇ=dêçìé=dÉåÉê~ä=j~å~ÖÉê=Ó=fåÇìëíêá~ä

Ó qÜÉ=Åçåíê~Åí=Ü~ë=åç=ÑáñÉÇ=íÉêãK
Ó cáñÉÇ=~ååì~ä=ÅçãéÉåë~íáçå=íç=ÄÉ=êÉîáÉïÉÇ=~ååì~ääó=Äó=íÜÉ=oÉãìåÉê~íáçå=`çããáííÉÉK
Ó içåÖ=ëÉêîáÅÉ=äÉ~îÉ=áë=é~ó~ÄäÉ=Äó=íÜÉ=`çãé~åó=áå=~ÅÅçêÇ~åÅÉ=ïáíÜ=êÉäÉî~åí=ëí~íÉ=äÉÖáëä~íáçåK
Ó m~êíáÅáé~íáçå=áå=ëÜçêíJíÉêã=~åÇ=äçåÖJíÉêã=áåÅÉåíáîÉ=éä~åë=áë=~í=íÜÉ=ÇáëÅêÉíáçå=çÑ=íÜÉ=`çãé~åóK
Ó líÜÉê=íÜ~å=Ñçê=ëÉêáçìë=ãáëÅçåÇìÅíI=íÉêãáå~íáçå=çÑ=ÉãéäçóãÉåí=êÉèìáêÉë=S=ãçåíÜë=åçíáÅÉ=Äó=íÜÉ=çãé~åóK==réçå=íÉêãáå~íáçåI=Ñçê=É~ÅÜ=óÉ~ê=çÑ=ëÉêîáÅÉ=áå=ÉñÅÉëë=çÑ=R=óÉ~êë= Åçåíáåìçìë=ëÉêîáÅÉI=íÜÉ=çãé~åó=ãìëí=é~ó=~å=~ÇÇáíáçå~ä=O=ïÉÉâë=é~óI=ìé=íç=~=ã~ñáãìã=çÑ=OS=ïÉÉâë=é~óK

^m=eçÅâäÉóI=`ÜáÉÑ=cáå~åÅá~ä=lÑÑáÅÉê=

Ó qÜÉ=Åçåíê~Åí=Ü~ë=åç=ÑáñÉÇ=íÉêãK
Ó cáñÉÇ=~ååì~ä=ÅçãéÉåë~íáçå=íç=ÄÉ=êÉîáÉïÉÇ=~ååì~ääó=Äó=íÜÉ=oÉãìåÉê~íáçå=`çããáííÉÉK=
Ó içåÖ=ëÉêîáÅÉ=äÉ~îÉ=áë=é~ó~ÄäÉ=Äó=íÜÉ=`çãé~åó=áå=~ÅÅçêÇ~åÅÉ=ïáíÜ=êÉäÉî~åí=ëí~íÉ=äÉÖáëä~íáçåK
Ó m~êíáÅáé~íáçå=áå=ëÜçêíJíÉêã=~åÇ=äçåÖJíÉêã=áåÅÉåíáîÉ=éä~åë=áë=~í=íÜÉ=ÇáëÅêÉíáçå=çÑ=íÜÉ=`çãé~åóK
Ó líÜÉê=íÜ~å=Ñçê=ëÉêáçìë=ãáëÅçåÇìÅíI=íÉêãáå~íáçå=çÑ=ÉãéäçóãÉåí=êÉèìáêÉë=S=ãçåíÜë=åçíáÅÉ=Äó=íÜÉ=`çãé~åóK=

j=oáÇäÉóI=`ÜáÉÑ=fåÑçêã~íáçå=lÑÑáÅÉê=

Ó qÜÉ=Åçåíê~Åí=Ü~ë=åç=ÑáñÉÇ=íÉêãK
Ó cáñÉÇ=~ååì~ä=ÅçãéÉåë~íáçå=íç=ÄÉ=êÉîáÉïÉÇ=~ååì~ääó=Äó=íÜÉ=oÉãìåÉê~íáçå=`çããáííÉÉK
Ó içåÖ=ëÉêîáÅÉ=äÉ~îÉ=áë=é~ó~ÄäÉ=Äó=íÜÉ=`çãé~åó=áå=~ÅÅçêÇ~åÅÉ=ïáíÜ=êÉäÉî~åí=ëí~íÉ=äÉÖáëä~íáçåK
Ó m~êíáÅáé~íáçå=áå=ëÜçêíJíÉêã=~åÇ=äçåÖJíÉêã=áåÅÉåíáîÉ=éä~åë=áë=~í=íÜÉ=ÇáëÅêÉíáçå=çÑ=íÜÉ=`çãé~åóK
Ó líÜÉê=íÜ~å=Ñçê=ëÉêáçìë=ãáëÅçåÇìÅíI=íÉêãáå~íáçå=çÑ=ÉãéäçóãÉåí=êÉèìáêÉë=NO=ïÉÉâë=åçíáÅÉ=Äó=íÜÉ=`çãé~åóK=

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

DIRECTORS’ REPORT (CONTINUED)

10. Remuneration report (continued)

10.6 Employment contracts (continued)

dk=táäíçåI=dêçìé=dÉåÉê~ä=j~å~ÖÉê=Ó=^ìíçãçíáîÉ=E~ééçáåíÉÇ=N=kçîÉãÄÉê=OMMTF
Ó qÜÉ=Åçåíê~Åí=Ü~ë=åç=ÑáñÉÇ=íÉêãK
Ó cáñÉÇ=~ååì~ä=ÅçãéÉåë~íáçå=íç=ÄÉ=êÉîáÉïÉÇ=~ååì~ääó=Äó=íÜÉ=oÉãìåÉê~íáçå=`çããáííÉÉK
Ó içåÖ=ëÉêîáÅÉ=äÉ~îÉ=áë=é~ó~ÄäÉ=Äó=íÜÉ=`çãé~åó=áå=~ÅÅçêÇ~åÅÉ=ïáíÜ=êÉäÉî~åí=ëí~íÉ=äÉÖáëä~íáçåK
Ó m~êíáÅáé~íáçå=áå=ëÜçêíJíÉêã=~åÇ=äçåÖJíÉêã=áåÅÉåíáîÉ=éä~åë=áë=~í=íÜÉ=ÇáëÅêÉíáçå=çÑ=íÜÉ=`çãé~åóK
Ó líÜÉê=íÜ~å=Ñçê=ëÉêáçìë=ãáëÅçåÇìÅíI=íÉêãáå~íáçå=çÑ=ÉãéäçóãÉåí=êÉèìáêÉë=NO=ïÉÉâë=åçíáÅÉ=Äó=íÜÉ=`çãé~åóK=

g=`çääáI=`çãé~åó=pÉÅêÉí~êó

Ó qÜÉ=Åçåíê~Åí=Ü~ë=åç=ÑáñÉÇ=íÉêãK
Ó cáñÉÇ=~ååì~ä=ÅçãéÉåë~íáçå=íç=ÄÉ=êÉîáÉïÉÇ=~ååì~ääó=Äó=íÜÉ=oÉãìåÉê~íáçå=`çããáííÉÉK
Ó içåÖ=ëÉêîáÅÉ=äÉ~îÉ=áë=é~ó~ÄäÉ=Äó=íÜÉ=`çãé~åó=áå=~ÅÅçêÇ~åÅÉ=ïáíÜ=êÉäÉî~åí=ëí~íÉ=äÉÖáëä~íáçåK
Ó m~êíáÅáé~íáçå=áå=ëÜçêíJíÉêã=~åÇ=äçåÖJíÉêã=áåÅÉåíáîÉ=éä~åë=áë=~í=íÜÉ=ÇáëÅêÉíáçå=çÑ=íÜÉ=`çãé~åóK
Ó líÜÉê=íÜ~å=Ñçê=ëÉêáçìë=ãáëÅçåÇìÅíI=íÉêãáå~íáçå=çÑ=ÉãéäçóãÉåí=êÉèìáêÉë=S=ãçåíÜë=åçíáÅÉ=Äó=íÜÉ=çãé~åóK==réçå=íÉêãáå~íáçåI=Ñçê=É~ÅÜ=óÉ~ê=çÑ=ëÉêîáÅÉ=áå=ÉñÅÉëë=çÑ=R=óÉ~êë= Åçåíáåìçìë=ëÉêîáÅÉI=íÜÉ=çãé~åó=ãìëí=é~ó=~å=~ÇÇáíáçå~ä=O=ïÉÉâë=é~óI=ìé=íç=~=ã~ñáãìã=çÑ=OS=ïÉÉâë=é~óK

mi=qçÇÇI=dêçìé=eo=j~å~ÖÉê=EêÉëáÖåÉÇ=PM=j~ó=OMMUF

Ó qÜÉ=Åçåíê~Åí=Ü~Ç=åç=ÑáñÉÇ=íÉêãK
Ó cáñÉÇ=~ååì~ä=ÅçãéÉåë~íáçå=ï~ë=íç=ÄÉ=êÉîáÉïÉÇ=~ååì~ääó=Äó=íÜÉ=oÉãìåÉê~íáçå=`çããáííÉÉK
Ó içåÖ=ëÉêîáÅÉ=äÉ~îÉ=ï~ë=é~ó~ÄäÉ=Äó=íÜÉ=`çãé~åó=áå=~ÅÅçêÇ~åÅÉ=ïáíÜ=êÉäÉî~åí=ëí~íÉ=äÉÖáëä~íáçåK
Ó m~êíáÅáé~íáçå=áå=ëÜçêíJíÉêã=~åÇ=äçåÖJíÉêã=áåÅÉåíáîÉ=éä~åë=ï~ë=~í=íÜÉ=ÇáëÅêÉíáçå=çÑ=íÜÉ=`çãé~åóK
Ó líÜÉê=íÜ~å=Ñçê=ëÉêáçìë=ãáëÅçåÇìÅíI=íÉêãáå~íáçå=çÑ=ÉãéäçóãÉåí=êÉèìáêÉÇ=NO=ïÉÉâë=åçíáÅÉ=Äó=íÜÉ=`çãé~åóK===

ag=_ÉáëäÉóI=dêçìé=dÉåÉê~ä=j~å~ÖÉê=Ó=^ìíçãçíáîÉ=EêÉëáÖåÉÇ=S=pÉéíÉãÄÉê=OMMTF

Ó fåáíá~ä=Åçåíê~Åí=Ñçê=~=ÑáñÉÇ=íÉêã=Ó=PN=^ìÖìëí=OMMR=íç=PN=aÉÅÉãÄÉê=OMMR=EëìÄëÉèìÉåíäó=ÉñíÉåÇÉÇ=íç=PN=gìäó=OMMSF=Ñçê=íÜÉ=éçëáíáçå=çÑ=_ìëáåÉëë=çåëìäí~åí=íç=íÜÉ=çãé~åóÛë ^ìíçãçíáîÉ=_ìëáåÉëë=råáíK
Ó kÉï=Åçåíê~Åí=ÅçããÉåÅÉÇ=N=^ìÖìëí=OMMS=Ñçê=íÜÉ=éçëáíáçå=çÑ=dêçìé=dÉåÉê~ä=j~å~ÖÉê=Ó=^ìíçãçíáîÉ=ïáíÜ=íÜÉ=ÑçääçïáåÖ=âÉó=éêçîáëáçåëW=
Ó içåÖ=ëÉêîáÅÉ=äÉ~îÉ=ï~ë=é~ó~ÄäÉ=Äó=íÜÉ=`çãé~åó=áå=~ÅÅçêÇ~åÅÉ=ïáíÜ=êÉäÉî~åí=ëí~íÉ=äÉÖáëä~íáçåK=
Ó m~êíáÅáé~íáçå=áå=ëÜçêíJíÉêã=áåÅÉåíáîÉ=éä~å=ï~ë=~í=íÜÉ=ÇáëÅêÉíáçå=çÑ=íÜÉ=`çãé~åóK
Ó líÜÉê=íÜ~å=Ñçê=ëÉêáçìë=ãáëÅçåÇìÅíI=íÉêãáå~íáçå=çÑ=ÉãéäçóãÉåí=êÉèìáêÉÇ=Q=ïÉÉâë=åçíáÅÉ=Äó=íÜÉ=`çãé~åóK==
Ó qÜÉ=Åçåíê~Åí=ï~ë=íç=ÄÉ=êÉîáÉïÉÇ=çå=PM=gìåÉ=OMMT=EÅçåíê~Åí=ï~ë=åçí=êÉîáÉïÉÇ=~ë=jê=_ÉáëäÉó=Ü~Ç=åçíáÑáÉÇ=íÜÉ=`çãé~åó=çÑ=Üáë=áåíÉåíáçå=íç=êÉëáÖå=áå=pÉéíÉãÄÉê=OMMTFK

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

DIRECTORS’ REPORT (CONTINUED)

10. Remuneration report (continued)

10.7 Rights over shares granted as compensation

qÜÉ=ãçîÉãÉåí=ÇìêáåÖ=íÜÉ=êÉéçêíáåÖ=éÉêáçÇ=áå=íÜÉ=åìãÄÉê=çÑ=êáÖÜíë=çîÉê=çêÇáå~êó=ëÜ~êÉë=áå=íÜÉ=çãé~åó=çÑÑÉêÉÇ=~ë=ÅçãéÉåë~íáçå=ìåÇÉê=íÜÉ=biqfm=íç=ÇáêÉÅíçêë=~åÇ=çíÜÉê=âÉó= ã~å~ÖÉãÉåí=éÉêëçååÉä=çÑ=íÜÉ=çãé~åó=~åÇ=dêçìé=áë=~ë=ÑçääçïëW

			sÉëíÉÇ	i~éëÉÇ	cçêÑÉáíÉÇ
	eÉäÇ~í NgìäóOMMT	dê~åíÉÇ~ë ÅçãéÉåë~íáçå	ÇìêáåÖíÜÉ óÉ~ê	ÇìêáåÖíÜÉ óÉ~êEáF	ÇìêáåÖíÜÉ óÉ~êEááF	eÉäÇ~í PMgìåÉOMMU
Executive Directors
o_cäóåå	J	J	J	J	J	J
spÅáÇçåÉ	ROIMRS	J	J	NQIUNR	J	PTIOQN
Other key management personnel
ag_ÉáëäÉó	NVIQVS	J	J	J	NVIQVS	J
miqçÇÇ	J	J	J	J	J	J
dktáäíçå	J	J	J	J	J	J
g`çääá	OTIQSS	J	J	TIUUN	J	NVIRUR
^meçÅâäÉó	J	J	J	J	J	J
joáÇäÉó	J	J	J	J	J	J

EáF OMMQ=lÑÑÉê=ä~éëÉÇ=~ë=åçåÉ=çÑ=íÜÉ=éÉêÑçêã~åÅÉ=ÜìêÇäÉë=ïÉêÉ=~ÅÜáÉîÉÇK

EááF OMMS=lÑÑÉê=ÑçêÑÉáíÉÇ=ÇìÉ=íç=êÉëáÖå~íáçå=çÑ=jê=ag=_ÉáëäÉó=ÇìêáåÖ=íÜÉ=êÉéçêíáåÖ=éÉêáçÇK

qÜÉ=Öê~åí=Ç~íÉI=íÜÉ=Ñ~áê=î~äìÉ=~í=Öê~åí=Ç~íÉ=~åÇ=Éñéáêó=Ç~íÉ=çÑ=íÜÉ=êáÖÜíë=çîÉê=çêÇáå~êó=ëÜ~êÉë=~êÉ=ëÜçïå=~í=áíÉã=NMKQ=çÑ=íÜÉ=oÉãìåÉê~íáçå=oÉéçêíK

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

DIRECTORS’ REPORT (CONTINUED)

10. Remuneration report (continued)

10.7 Rights over shares granted as compensation (continued)

			sÉëíÉÇ	i~éëÉÇ	cçêÑÉáíÉÇ
	eÉäÇ~í	dê~åíÉÇ~ë	ÇìêáåÖíÜÉ	ÇìêáåÖíÜÉ	ÇìêáåÖíÜÉ	eÉäÇ~í
	NgìäóOMMS	ÅçãéÉåë~íáçå	óÉ~ê	óÉ~ê	óÉ~ê	PMgìåÉOMMT
Executive Directors
o_cäóåå	J	J	J	J	J	J
`gdäÉåå	NOQISSS	QSITRQ	J	UMIMUN	VNIPPV	J
Other key management personnel
spÅáÇçåÉ	TRIUTP	OOIOST	J	QSIMUQ	J	ROIMRS
ag_ÉáëäÉó	J	NVIQVS	J	J	J	NVIQVS
p^`ççéÉê	RPIMUR	NSIUPT	J	POISMR	PTIPNT	J
gpcìêåÉëë	QUITUS	NPISMQ	J	PMINTP	POIONT	J
g`çääá	QNIRNV	NNISOR	J	ORISTU	J	OTIQSS
^meçÅâäÉó	J	J	J	J	J	J
joáÇäÉó	J	J	J	J	J	J

cçê=íÜÉ=óÉ~ê=ÉåÇÉÇ=PM=gìåÉ=OMMTI=ONQISON=~åÇ=NSMIUTP=êáÖÜíë=çîÉê=ëÜ~êÉë=ïÉêÉ=ä~éëÉÇ=~åÇ=ÑçêÑÉáíÉÇ=êÉëéÉÅíáîÉäóK qÜÉêÉ=ïÉêÉ=åç=êáÖÜíë=çîÉê=Éèìáíó=áåëíêìãÉåíë=ÜÉäÇ=Äó=åçåJÉñÉÅìíáîÉ=ÇáêÉÅíçêë=~ë=~í=PM=gìåÉ=OMMU=~åÇ=PM=gìåÉ=OMMTK

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

DIRECTORS’ REPORT (CONTINUED)

10. Remuneration report (continued)

10.8 Analysis of rights over shares granted as compensation

aÉí~áäë=çÑ=íÜÉ=îÉëíáåÖ=éêçÑáäÉ=çÑ=íÜÉ=êáÖÜíë=çîÉê=çêÇáå~êó=ëÜ~êÉë=Öê~åíÉÇ=~ë=ÅçãéÉåë~íáçå=íç=É~ÅÜ=ÇáêÉÅíçê=~åÇ=íÜÉ=âÉó=ã~å~ÖÉãÉåí=éÉêëçååÉä=çÑ=íÜÉ=`çãé~åó=~åÇ=dêçìé=ÇìêáåÖ=íÜÉ êÉéçêíáåÖ=éÉêáçÇ=~êÉ=~ë=ÑçääçïëW

	oáÖÜíëÖê~åíÉÇ~ë	s~äìÉçÑêáÖÜíë	s~äìÉçÑêáÖÜíë	s~äìÉçÑêáÖÜíë	s~äìÉáåÅäìÇÉÇ~ë	BçÑíçí~ä
	ÅçãéÉåë~íáçåî~äìÉ	îÉëíÉÇ	ä~éëÉÇ EáF	ÑçêÑÉáíÉÇEááF	ÅçãéÉåë~íáçåEáááF	ÅçãéÉåë~íáçå
	~íÖê~åíÇ~íÉ					íÜ~íÅçåëáëíë
	A	A	A	A	A	çÑêáÖÜíë
Executive directors
o_cäóåå	J	J	J	J	J	J
spÅáÇçåÉ	J	J	SSIOUV	J	RIMSO	NKN
Other key management personnel
ag_ÉáëäÉó	J	J	J	SSIQUN	J	J
miqçÇÇ	J	J	J	J	J	J
dktáäíçå	J	J	J	J	J	J
g`çääá	J	J	PRIOSQ	J	OISQP	NKO
^meçÅâäÉó	J	J	J	J	J	J
joáÇäÉó	J	J	J	J	J	J

EáF OMMQ=lÑÑÉê=ä~éëÉÇ=~ë=åçåÉ=çÑ=íÜÉ=éÉêÑçêã~åÅÉ=ÜìêÇäÉë=ïÉêÉ=~ÅÜáÉîÉÇK==s~äìÉ=çÑ=AQKTN=éÉê=êáÖÜí=Å~äÅìä~íÉÇ=áå=~ÅÅçêÇ~åÅÉ=ïáíÜ=áíÉã=NMKQ=çÑ=íÜÉ=êÉãìåÉê~íáçå=êÉéçêíK EááF OMMS=lÑÑÉê=ÑçêÑÉáíÉÇ=ÇìÉ=íç=êÉëáÖå~íáçåë=çÑ=jê=ag=_ÉáëäÉóK==s~äìÉ=çÑ=APKQN=éÉê=êáÖÜí=Å~äÅìä~íÉÇ=áå=~ÅÅçêÇ~åÅÉ=ïáíÜ=áíÉã=NMKQ=çÑ=íÜÉ=êÉãìåÉê~íáçå=êÉéçêíK EáááF Ñçê=êáÖÜíë=ëìÄàÉÅí=íç=áåíÉêå~ä=éÉêÑçêã~åÅÉ=ÜìêÇäÉë=íÜÉ=î~äìÉ=áåÅäìÇÉÇ=~ë=ÅçãéÉåë~íáçå=í~âÉë=áåíç=~ÅÅçìåí=íÜÉ=éêçÄ~Äáäáíó=çÑ=~ÅÜáÉîáåÖ=íÜçëÉ=ÜìêÇäÉë=~ë=~í=Ä~ä~åÅÉ=Ç~íÉK qÜÉ=åìãÄÉê=çÑ=êáÖÜíë=çîÉê=ëÜ~êÉë=íç=ïÜáÅÜ=íÜÉ=~ÄçîÉ=î~äìÉë=êÉä~íÉ=~êÉ=ëÜçïå=~í=áíÉã=NMKT=çÑ=íÜÉ=êÉãìåÉê~íáçå=êÉéçêíK

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

DIRECTORS’ REPORT (CONTINUED)

10. Remuneration report (continued)

10.9 Options over shares granted as compensation

aÉí~áäë=çÑ=çéíáçåë=çîÉê=çêÇáå~êó=ëÜ~êÉë=Öê~åíÉÇ=~ë=ÅçãéÉåë~íáçå=íç=É~ÅÜ=ÇáêÉÅíçê=~åÇ=íÜÉ=âÉó=ã~å~ÖÉãÉåí=éÉêëçååÉä=çÑ=íÜÉ=`çãé~åó=~åÇ=dêçìé=ÇìêáåÖ=íÜÉ=êÉéçêíáåÖ=éÉêáçÇ=~êÉ=~ë ÑçääçïëW

	kìãÄÉêçÑ	dê~åíÉÇÇ~íÉ	c~áêî~äìÉ	bñÉêÅáëÉ	bñéáêóÇ~íÉ	kìãÄÉêçÑ
	çéíáçåëÖê~åíÉÇ		éÉêçéíáçå	éêáÅÉéÉê		çéíáçåëîÉëíÉÇ
	ÇìêáåÖOMMU		~íÖê~åí	çéíáçå		ÇìêáåÖOMMU
			Ç~íÉ
			A	A
Executive directors
o_cäóåå	RMMIMMM	RkçîÉãÄÉêOMMT	MKQQ	PKUU	QkçîÉãÄÉêOMNO	J
spÅáÇçåÉ	NMMIMMM	OPkçîÉãÄÉêOMMT	MKQO	PKUU	OOkçîÉãÄÉêOMNO	J
Other key management personnel
ag_ÉáëäÉó	J	J	J	J	J	J
miqçÇÇ	J	J	J	J	J	J
dktáäíçå	UMIMMM	OPkçîÉãÄÉêOMMT	MKQO	PKUU	OOkçîÉãÄÉêOMNO	J
g`çääá	QMIMMM	OPkçîÉãÄÉêOMMT	MKQO	PKUU	OOkçîÉãÄÉêOMNO	J
^meçÅâäÉó	UMIMMM	OPkçîÉãÄÉêOMMT	MKQO	PKUU	OOkçîÉãÄÉêOMNO	J
joáÇäÉó	UMIMMM	OPkçîÉãÄÉêOMMT	MKQO	PKUU	OOkçîÉãÄÉêOMNO	J

kç=çéíáçåë=Ü~îÉ=ÄÉÉå=Öê~åíÉÇ=ëáåÅÉ=íÜÉ=ÉåÇ=çÑ=íÜÉ=Ñáå~åÅá~ä=óÉ~êK==qÜÉ=çéíáçåë=ïÉêÉ=éêçîáÇÉÇ=~í=åç=Åçëí=íç=íÜÉ=êÉÅáéáÉåíëK==

^ää=çéíáçåë=ÉñéáêÉ=çå=íÜÉ=É~êäáÉê=çÑ=íÜÉáê=Éñéáêó=Ç~íÉ=çê=íÉêãáå~íáçå=çÑ=íÜÉ=áåÇáîáÇì~äÛë=ÉãéäçóãÉåíK==qÜÉ=çéíáçåë=~êÉ=ÉñÉêÅáë~ÄäÉ=R=óÉ~êë=Ñêçã=íÜÉ=Öê~åí=Ç~íÉK==qÜÉ=íÉêãë=~åÇ=ÅçåÇáíáçåë çÑ=íÜÉ=çéíáçåë=~êÉ=ÇÉí~áäÉÇ=~í=NMKOK

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

DIRECTORS’ REPORT (CONTINUED)

10. Remuneration report (continued)

10.10 Analysis of movements in options

qÜÉ=ãçîÉãÉåí=ÇìêáåÖ=íÜÉ=êÉéçêíáåÖ=éÉêáçÇI=Äó=î~äìÉI=çÑ=çéíáçåë=çîÉê=çêÇáå~êó=ëÜ~êÉë=áå=íÜÉ=çãé~åó=ÜÉäÇ=Äó=É~ÅÜ=ÇáêÉÅíçê=~åÇ=íÜÉ=âÉó=ã~å~ÖÉãÉåí=éÉêëçååÉä=çÑ=íÜÉ=çãé~åó=~åÇ dêçìé=áë=ÇÉí~áäÉÇ=ÄÉäçïW

	dê~åíÉÇáå	s~äìÉçÑçéíáçåë	i~éëÉÇáå
	óÉ~êAE^F	ÉñÉêÅáëÉÇáåóÉ~êAE_F	óÉ~êAE`F
Executive directors
o_cäóåå	OOOIMMM	J	J
spÅáÇçåÉ	QNIVMM	J	J
Other key management personnel
ag_ÉáëäÉó	J	J	J
miqçÇÇ	J	J	J
g`çääá	NSITSM	J	J
dktáäíçå	PPIROM	J	J
^meçÅâäÉó	PPIROM	J	J
joáÇäÉó	PPIROM	J	J

E^F qÜÉ=î~äìÉ=çÑ=çéíáçåë=Öê~åíÉÇ=áå=íÜÉ=óÉ~ê=áë=íÜÉ=Ñ~áê=î~äìÉ=çÑ=íÜÉ=çéíáçåë=Å~äÅìä~íÉÇ=~í=Öê~åí=Ç~íÉ=ìëáåÖ=~=Äáåçãáå~ä=çéíáçå=éêáÅáåÖ=ãçÇÉäK==qÜÉ=íçí~ä=î~äìÉ=çÑ=íÜÉ=çéíáçåë=Öê~åíÉÇ=áë áåÅäìÇÉÇ=áå=íÜÉ=~ÄçîÉ=í~ÄäÉK==qÜáë=~ãçìåí=áë=~ääçÅ~íÉÇ=íç=êÉãìåÉê~íáçå=çîÉê=íÜÉ=îÉëíáåÖ=éÉêáçÇK
E_F qÜÉ=î~äìÉ=çÑ=çéíáçåë=ÉñÉêÅáëÉÇ=ÇìêáåÖ=íÜÉ=óÉ~ê=áë=Å~äÅìä~íÉÇ=~ë=íÜÉ=ã~êâÉí=éêáÅÉ=çÑ=ëÜ~êÉë=çÑ=íÜÉ=`çãé~åó=~ë=~í=ÅäçëÉ=çÑ=íê~ÇáåÖ=çå=íÜÉ=Ç~íÉ=íÜÉ=çéíáçåë=ïÉêÉ=ÉñÉêÅáëÉÇ=~ÑíÉê= ÇÉÇìÅíáåÖ=íÜÉ=éêáÅÉ=é~áÇ=íç=ÉñÉêÅáëÉ=íÜÉ=çéíáçåK==kç=çéíáçåë=ïÉêÉ=ÉñÉêÅáëÉÇ=áå=íÜÉ=óÉ~êK
E`F qÜÉ=î~äìÉ=çÑ=çéíáçåë=íÜ~í=ä~éëÉÇ=ÇìêáåÖ=íÜÉ=óÉ~ê=êÉéêÉëÉåíë=íÜÉ=ÄÉåÉÑáí=ÑçêÉÖçåÉ=~åÇ=áë=Å~äÅìä~íÉÇ=~í=íÜÉ=Ç~íÉ=íÜÉ=çéíáçå=ä~éëÉÇ=ìëáåÖ=~=Äáåçãáå~ä=çéíáçå=éêáÅáåÖ=ãçÇÉä=~ëëìãáåÖ íÜÉ=íÉêãë=~åÇ=ÅçåÇáíáçåë=çÑ=íÜÉ=çéíáçåë=Ü~îÉ=ÄÉÉå=~ÅÜáÉîÉÇK==kç=çéíáçåë=ä~éëÉÇ=áå=íÜÉ=óÉ~êK

11. Environmental regulation

qÜÉ=dêçìé=áë=åçí=ëìÄàÉÅí=íç=~åó=ëéÉÅáÑáÅ=ÉåîáêçåãÉåí~ä=êÉÖìä~íáçåK

qÜÉ=dêçìé=ã~áåäó=çéÉê~íÉë=ï~êÉÜçìëáåÖ=~åÇ=ÇáëíêáÄìíáçå=Ñ~ÅáäáíáÉë=íÜêçìÖÜçìí=^ìëíê~äá~=~åÇ=kÉï=wÉ~ä~åÇ=ïÜáÅÜ=Ü~îÉ=ÖÉåÉê~ä=çÄäáÖ~íáçåë=ìåÇÉê=ÉåîáêçåãÉåí~ä=äÉÖáëä~íáçå=çÑ=íÜÉ= êÉëéÉÅíáîÉ=ëí~íìíçêó=~ìíÜçêáíáÉë=áå=êÉä~íáçå=íç=éçääìíáçå=éêÉîÉåíáçåK

aìêáåÖ=íÜÉ=Ñáå~åÅá~ä=óÉ~ê=íÜÉ=çãé~åó=ÇáëéçëÉÇ=çÑ=íïç=~ÇàçáåáåÖ=ÑêÉÉÜçäÇ=éêçéÉêíáÉë=ïÜáÅÜ=Ü~îÉ=ÄÉÉå=ìíáäáëÉÇ=Äó=íÜÉ=çãé~åóÛë=ÄáíìãÉå=Çáîáëáçå=éêáçê=íç=áíë=ÇáîÉëíãÉåíK==få=~ÅÅçêÇ~åÅÉ ïáíÜ=íÜÉ=çåí~ãáå~íÉÇ=páíÉë=^Åí=OMMP=íÜÉ=çãé~åó=Ü~ë=äçÇÖÉÇ=~=ëìëéÉÅíÉÇ=Åçåí~ãáå~íÉÇ=ëáíÉ=êÉéçêí=íç=íÜÉ=aÉé~êíãÉåí=çÑ=båîáêçåãÉåí=C=`çåëÉêî~íáçå=Ñçê=íÜÉ=íïç=éêçéÉêíáÉëK==^å ÉåîáêçåãÉåí~ä=ëáíÉ=~ëëÉëëãÉåí=çÑ=íÜÉ=éêçéÉêíáÉë=ï~ë=ÅçåÇìÅíÉÇ=ÇìêáåÖ=íÜÉ=Ñáå~åÅá~ä=óÉ~ê=ïÜáÅÜ=êÉîÉ~äÉÇ=íÜÉ=ÉñáëíÉåÅÉ=çÑ=ëçãÉ=ëçáä=Åçåí~ãáå~íáçåK==^ë=é~êí=çÑ=íÜÉ=ë~äÉ=çÑ=íÜÉ=íïç= éêçéÉêíáÉë=íÜÉ=éìêÅÜ~ëÉê=Ü~ë=Åçåíê~Åíì~ääó=ìåÇÉêí~âÉå=íç=Å~êêó=çìí=íÜÉ=åÉÅÉëë~êó=ëçáä=êÉãÉÇá~íáçåK

cçê=íÜÉ=Ñáå~åÅá~ä=óÉ~ê=ÉåÇÉÇ=PM=gìåÉ=OMMU=~åÇ=~ë=~í=íÜÉ=Ç~íÉ=çÑ=íÜáë=êÉéçêíI=íÜÉ=dêçìé=Ü~ë=åçí=ÄÉÉå=éêçëÉÅìíÉÇ=åçê=áåÅìêêÉÇ=~åó=áåÑêáåÖÉãÉåí=éÉå~äíó=Ñçê=ÉåîáêçåãÉåí~ä=áåÅáÇÉåíëK

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

DIRECTORS’ REPORT (CONTINUED)

12. Insurance of officers

aìêáåÖ=íÜÉ=Ñáå~åÅá~ä=óÉ~ê=íÜÉ=çãé~åó=Ü~ë=é~áÇ=éêÉãáìãë=áå=êÉëéÉÅí=çÑ=Åçåíê~Åíë=áåëìêáåÖ=íÜÉ=ÇáêÉÅíçêë=~åÇ=çÑÑáÅÉêë=çÑ=íÜÉ=çãé~åó=~Ö~áåëí=ÅÉêí~áå=äá~ÄáäáíáÉë=áåÅìêêÉÇ=áå=íÜçëÉ= Å~é~ÅáíáÉëK==qÜÉ=Åçåíê~Åíë=éêçÜáÄáí=ÑìêíÜÉê=ÇáëÅäçëìêÉ=çÑ=íÜÉ=å~íìêÉ=çÑ=íÜÉ=äá~ÄáäáíáÉë=~åÇ=íÜÉ=~ãçìåíë=çÑ=íÜÉ=éêÉãáìãëK

13. Corporate governance

qÜÉ=pí~íÉãÉåí=çÑ=çêéçê~íÉ=dçîÉêå~åÅÉ=mê~ÅíáÅÉë=~ë=ÇáëÅäçëÉÇ=çå=é~ÖÉë=PO=íç=QN=çÑ=íÜÉ=^ååì~ä=oÉéçêí=ëÉíë=çìí=íÜÉ=çãé~åóÛë=ã~áå=Åçêéçê~íÉ=ÖçîÉêå~åÅÉ=éê~ÅíáÅÉë=íÜêçìÖÜçìí=íÜÉ Ñáå~åÅá~ä=óÉ~ê=~åÇ=~ë=~í=íÜÉ=Ç~íÉ=çÑ=íÜáë=êÉéçêíK

14. Share options

Options granted to directors and key management personnel

aìêáåÖ=íÜÉ=Ñáå~åÅá~ä=óÉ~êI=íÜÉ=çãé~åó=Öê~åíÉÇ=çéíáçåë=Ñçê=åç=ÅçåëáÇÉê~íáçå=çîÉê=ìåáëëìÉÇ=çêÇáå~êó=ëÜ~êÉë=áå=íÜÉ=çãé~åó=íç=íÜÉ=ÑçääçïáåÖ=ÇáêÉÅíçêë=~åÇ=âÉó=ã~å~ÖÉãÉåí=éÉêëçååÉä çÑ=íÜÉ=`çãé~åó=~ë=é~êí=çÑ=íÜÉáê=êÉãìåÉê~íáçåW

	kìãÄÉêçÑ	bñÉêÅáëÉéêáÅÉ	bñéáêóÇ~íÉ
	çéíáçåëÖê~åíÉÇ	éÉêçéíáçåA
Executive directors
o_cäóåå	RMMIMMM	PKUU	QkçîÉãÄÉêOMNO
spÅáÇçåÉ	NMMIMMM	PKUU	OOkçîÉãÄÉêOMNO
Other key management personnel
^meçÅâäÉó	UMIMMM	PKUU	OOkçîÉãÄÉêOMNO
joáÇäÉó	UMIMMM	PKUU	OOkçîÉãÄÉêOMNO
dktáäíçå	UMIMMM	PKUU	OOkçîÉãÄÉêOMNO
g`çääá	QMIMMM	PKUU	OOkçîÉãÄÉêOMNO

kç=çéíáçåë=Ü~îÉ=ÄÉÉå=Öê~åíÉÇ=ëáåÅÉ=íÜÉ=ÉåÇ=çÑ=íÜÉ=Ñáå~åÅá~ä=óÉ~êK=

15. Non-audit services

aìêáåÖ=íÜÉ=óÉ~ê=hmjdI=íÜÉ=`çãé~åóÛë=~ìÇáíçêI=ÇáÇ=åçí=éêçîáÇÉ=~åó=åçåJ~ìÇáí=ëÉêîáÅÉë=íç=íÜÉ=dêçìéK=

aÉí~áäë=çÑ=ÑÉÉë=é~áÇ=íç=hmjd=Ñçê=ëí~íìíçêó=~ìÇáí=ëÉêîáÅÉë=~êÉ=ëÉí=çìí=áå=kçíÉ=R=çÑ=íÜÉ=Ñìää=Ñáå~åÅá~ä=ëí~íÉãÉåíëK

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

DIRECTORS’ REPORT (CONTINUED)

16. Lead auditor’s independence declaration

qÜÉ=äÉ~Ç=~ìÇáíçêÛë=áåÇÉéÉåÇÉåÅÉ=ÇÉÅä~ê~íáçå=ã~ÇÉ=áå=~ÅÅçêÇ~åÅÉ=ïáíÜ=pÉÅíáçå=PMT=çÑ=íÜÉ=çêéçê~íáçåë=^Åí=OMMN=áë=ëÉí=çìí=çå=é~ÖÉ=RV=çÑ=íÜÉ=^ååì~ä=oÉéçêí=~åÇ=Ñçêãë=é~êí=çÑ=íÜáë êÉéçêíK

17. Company secretary

jê=gçÜå=çääá=ï~ë=~ééçáåíÉÇ=íç=íÜÉ=éçëáíáçå=çÑ=çãé~åó=pÉÅêÉí~êó=áå=kçîÉãÄÉê=NVVUK==jê=çääá=éêÉîáçìëäó=ÜÉäÇ=íÜÉ=êçäÉ=çÑ=Åçãé~åó=ëÉÅêÉí~êó=Ñçê=íÜÉ=ÑçêãÉê=äáëíÉÇ=Åçãé~åóÜ~ääÉåÖÉ=_~åâ=iáãáíÉÇ=Ñçê=ëÉîÉå=óÉ~êëK

18. Rounding off

qÜÉ=çãé~åó=áë=çÑ=~=âáåÇ=êÉÑÉêêÉÇ=íç=áå=^pf=ä~ëë=lêÇÉê=VULMNMM=Ç~íÉÇ=NM=gìäó=NVVU=~åÇ=áå=~ÅÅçêÇ~åÅÉ=ïáíÜ=íÜ~í=ä~ëë=lêÇÉêI=~ãçìåíë=áå=íÜÉ=Ñáå~åÅá~ä=êÉéçêí=~åÇ=ÇáêÉÅíçêëÛ=êÉéçêí Ü~îÉ=ÄÉÉå=êçìåÇÉÇ=çÑÑ=íç=íÜÉ=åÉ~êÉëí=íÜçìë~åÇ=Ççää~êëI=ìåäÉëë=çíÜÉêïáëÉ=ëí~íÉÇK

páÖåÉÇ=áå=~ÅÅçêÇ~åÅÉ=ïáíÜ=~=êÉëçäìíáçå=çÑ=íÜÉ=ÇáêÉÅíçêëK

==> picture [168 x 55] intentionally omitted <==

o=_=cäóåå bñÉÅìíáîÉ=`Ü~áêã~å

mÉêíÜ OO=^ìÖìëí=OMMU

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

STATEMENT OF CORPORATE GOVERNANCE PRACTICES

INTRODUCTION

qÜáë=ëí~íÉãÉåí=áë=Ç~íÉÇ=OO=^ìÖìëí=OMMU=~åÇ=ëÉíë=çìí=íÜÉ=Åçêéçê~íÉ=ÖçîÉêå~åÅÉ=éê~ÅíáÅÉë=çÑ=çîÉåíêó=dêçìé=iíÇ=EdiF=Ñçê=íÜÉ=OMMTLMU=Ñáå~åÅá~ä=óÉ~ê=~åÇ=~ë=~í=íÜÉ=Ç~íÉ=çÑ=íÜáë= ëí~íÉãÉåíK==fÑ=íÜÉ=éê~ÅíáÅÉë=Ü~îÉ=åçí=ÄÉÉå=áå=éä~ÅÉ=Ñçê=íÜÉ=ÉåíáêÉ=óÉ~êI=íÜ~í=áë=ëí~íÉÇK

få=j~êÅÜ=OMMP=íÜÉ=^pu=çêéçê~íÉ=dçîÉêå~åÅÉ=çìåÅáä=E^pudF=áëëìÉÇ=~=é~éÉê=ïÜáÅÜ=ëÉí=çìí=NM=ÅçêÉ=éêáåÅáéäÉë=íçÖÉíÜÉê=ïáíÜ=ÄÉëí=éê~ÅíáÅÉ=êÉÅçããÉåÇ~íáçåë=ìåÇÉêäóáåÖ=íÜÉ=Ä~ëáë=çÑ ÖççÇ=Åçêéçê~íÉ=ÖçîÉêå~åÅÉK==qÜÉ=é~éÉê=ÇÉÑáåÉÇ=Åçêéçê~íÉ=ÖçîÉêå~åÅÉ=~ë=ÑçääçïëW

qÜÉ=ëóëíÉã=Äó=ïÜáÅÜ=Åçãé~åáÉë=~êÉ=ÇáêÉÅíÉÇ=~åÇ=ã~å~ÖÉÇK==fí=áåÑäìÉåÅÉë=Üçï=íÜÉ=çÄàÉÅíáîÉë=çÑ=íÜÉ=Åçãé~åó=~êÉ=ëÉí=~åÇ=~ÅÜáÉîÉÇI=Üçï=êáëâ=áë=ãçåáíçêÉÇ=~åÇ=~ëëÉëëÉÇI=~åÇ=Üçï= éÉêÑçêã~åÅÉ=áë=çéíáãáëÉÇÒK

qÜÉ=_ç~êÇ=çÑ=`di=áë=ÅçããáííÉÇ=íç=~=ÜáÖÜ=ëí~åÇ~êÇ=çÑ=Åçêéçê~íÉ=ÖçîÉêå~åÅÉK

qÜÉ=_ç~êÇ=êÉÅçÖåáëÉë=íÜ~í=íÜÉêÉ=áë=åç=ëáåÖäÉ=ãçÇÉä=çÑ=ÖççÇ=Åçêéçê~íÉ=ÖçîÉêå~åÅÉK==tÜ~í=ÅçåëíáíìíÉë=ÖççÇ=Åçêéçê~íÉ=ÖçîÉêå~åÅÉ=ïáää=ÉîçäîÉ=ïáíÜ=ÅÜ~åÖáåÖ=ÅáêÅìãëí~åÅÉë=Ñ~ÅáåÖ=íÜÉ Åçãé~åó=~åÇ=ãìëí=ÄÉ=í~áäçêÉÇ=íç=ãÉÉí=íÜçëÉ=ÅáêÅìãëí~åÅÉëK

`diÛë=Åçêéçê~íÉ=ÖçîÉêå~åÅÉ=éê~ÅíáÅÉë=~êÉ=ãçåáíçêÉÇ=~ë=ÅÜ~åÖÉë=áå=áíë=êÉÖìä~íçêó=~åÇ=çéÉê~íáåÖ=ÉåîáêçåãÉåí=çÅÅìê=~åÇ=~êÉ=ìéÇ~íÉÇ=Ñêçã=íáãÉ=íç=íáãÉ=~ë=êÉèìáêÉÇK

qÜáë=ëí~íÉãÉåí=ëÜçìäÇ=ÄÉ=êÉ~Ç=áå=ÅçåàìåÅíáçå=ïáíÜ=diÛë=çåÅáëÉ=^ååì~ä=oÉéçêíK

diÛë=ïÉÄëáíÉ=áë=ïïïKÅÖäKÅçãK~ìK==jçëí=éçäáÅáÉë=~åÇ=ÇçÅìãÉåíë=ìåÇÉêäóáåÖ=diÛë=Åçêéçê~íÉ=ÖçîÉêå~åÅÉ=éê~ÅíáÅÉë=Å~å=ÄÉ=ÑçìåÇ=~í=íÜáë=ëáíÉK

1. ROLE OF THE BOARD AND MANAGEMENT

ASXCGC Principle 1

i~ó=ëçäáÇ=ÑçìåÇ~íáçåë=Ñçê=ã~å~ÖÉãÉåí=~åÇ=çîÉêëáÖÜíK

ASXCGC Recommendation 1.1

cçêã~äáëÉ=~åÇ=ÇáëÅäçëÉ=íÜÉ=ÑìåÅíáçåë=êÉëÉêîÉÇ=íç=íÜÉ=_ç~êÇ=~åÇ=íÜçëÉ=ÇÉäÉÖ~íÉÇ=íç=ã~å~ÖÉãÉåíK

CGL Practice

qÜÉ=_ç~êÇ=Ü~ë=ìäíáã~íÉ=êÉëéçåëáÄáäáíó=Ñçê=çîÉêëáÖÜí=çÑ=íÜÉ=ã~å~ÖÉãÉåí=~åÇ=~Åíáçåë=çÑ=`diK==fí=áë=êÉëéçåëáÄäÉ=íç=ëÜ~êÉÜçäÇÉêë=Ñçê=íÜÉ=dêçìéÛë=çîÉê~ää=Åçêéçê~íÉ=ÖçîÉêå~åÅÉK

qÜÉ=_ç~êÇ=Ü~ë=~=ÅÜ~êíÉê=ïÜáÅÜ=Ñçêã~äáëÉë=ÅÉêí~áå=ã~ííÉêë=êÉä~íáåÖ=íç=íÜÉ=_ç~êÇK==qÜÉ=ÅÜ~êíÉê=~ÇÇêÉëëÉë=íÜÉ=éìêéçëÉ=~åÇ=êçäÉ=çÑ=íÜÉ=_ç~êÇI=áíë=éçïÉêëI=Äç~êÇ=ãÉãÄÉêëÜáéI=áåÇÉéÉåÇÉåÅÉ ÅêáíÉêá~I=ãÉÉíáåÖ=Ñçêã~äáíáÉëI=Äç~êÇ=ëìÄJÅçããáííÉÉ=êÉèìáêÉãÉåíëI=ëÉäÑ=~ëëÉëëãÉåí=~åÇ=~ééçáåíãÉåí=éêçÅÉÇìêÉë=~ë=ïÉää=~ë=~=éçäáÅó=çå=ÇáêÉÅíçêëÛ=íÉêãë=çÑ=çÑÑáÅÉK

qÜÉ=_ç~êÇ=Ü~êíÉê=Å~å=ÄÉ=îáÉïÉÇ=çå=íÜÉ=dêçìéÛë=ïÉÄëáíÉ=ìåÇÉê=íÜÉ=í~Ä=Ó=ÚfåîÉëíçê=oÉä~íáçåëI=çêéçê~íÉ=dçîÉêå~åÅÉ=pìãã~êóÛK

qÜÉ=`çãé~åó=Ü~ë=áå=éä~ÅÉ=Ñçêã~ä=äÉííÉêë=çÑ=ÉåÖ~ÖÉãÉåí=Ñçê=åçåJÉñÉÅìíáîÉ=ÇáêÉÅíçêëI=ëÉííáåÖ=çìí=íÜÉ=âÉó=íÉêãë=~åÇ=ÅçåÇáíáçåë=çÑ=íÜÉáê=~ééçáåíãÉåíK

qÜÉ=bñÉÅìíáîÉ=Ü~áêã~åI=o=_=cäóååI=~ë=íÜÉ=ÜáÉÑ=bñÉÅìíáîÉ=lÑÑáÅÉê=çÑ=íÜÉ=`çãé~åóI=áë=ÉåÖ~ÖÉÇ=áå=~ÅÅçêÇ~åÅÉ=ïáíÜ=~=ëÉêîáÅÉ=Åçåíê~Åí=~åÇ=Ü~ë=~=Ñçêã~ä=éçëáíáçå=ÇÉëÅêáéíáçåK

^ää=ëÉåáçê=ÉñÉÅìíáîÉë=çÑ=íÜÉ=çãé~åó=~êÉ=ÉãéäçóÉÇ=éìêëì~åí=íç=Ñçêã~ä=ëÉêîáÅÉ=Åçåíê~Åíë=~åÇ=Ü~îÉ=Ñçêã~ä=éçëáíáçå=ÇÉëÅêáéíáçåëK==qÜÉ=ÜáÉÑ=cáå~åÅá~ä=lÑÑáÅÉê=Ü~ë=Ü~Ç=Üáë=éçëáíáçå= ÇÉëÅêáéíáçå=ÉåÇçêëÉÇ=Äó=íÜÉ=_ç~êÇK

qÜÉ=`çãé~åó=Ü~ë=~=Ñçêã~ä=aÉäÉÖ~íÉÇ=^ìíÜçêáíó=mçäáÅó=ïÜáÅÜ=ëÉíë=çìí=é~ê~ãÉíÉêë=~åÇ=äáãáíë=Ñçê=ÉåíÉêáåÖ=áåíç=Åçåíê~Åíì~ä=êÉä~íáçåëÜáéë=ïáíÜ=ÅìëíçãÉêë=~åÇ=ëìééäáÉêëI=Å~éáí~ä=ÉñéÉåÇáíìêÉI ÑçêÉáÖå=ÅìêêÉåÅó=íê~åë~Åíáçåë=~åÇ=çíÜÉê=çéÉê~íáçå~ä=ã~ííÉêëK==qÜÉ=éçäáÅó=áë=~ãÉåÇÉÇ=~åÇ=ìéÇ~íÉÇ=~ë=ÅáêÅìãëí~åÅÉë=~êáëÉK

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

STATEMENT OF CORPORATE GOVERNANCE PRACTICES (CONTINUED)

2. COMPOSITION OF THE BOARD

ASXCGC Principle 2

píêìÅíìêÉ=íÜÉ=_ç~êÇ=íç=~ÇÇ=î~äìÉK

ASXCGC Recommendation 2.1

^=ã~àçêáíó=çÑ=íÜÉ=_ç~êÇ=ëÜçìäÇ=ÄÉ=áåÇÉéÉåÇÉåí=ÇáêÉÅíçêëK

CGL Practice

qÜÉ=_ç~êÇ=éêÉëÉåíäó=Åçåëáëíë=çÑ=R=ÇáêÉÅíçêëK==P=ÇáêÉÅíçêë=~êÉ=åçåJÉñÉÅìíáîÉ=ÇáêÉÅíçêë=~åÇ=ÅçåëáÇÉêÉÇ=íç=ÄÉ=áåÇÉéÉåÇÉåíK==qÜÉ=å~ãÉë=çÑ=íÜÉ=ÇáêÉÅíçêë=çÑ=íÜÉ=çãé~åó=~ë=~í=íÜÉ=Ç~íÉ=çÑ íÜáë=ëí~íÉãÉåí=~êÉ=ëÉí=çìí=çå=é~ÖÉ=NM=çÑ=íÜÉ=çåÅáëÉ=^ååì~ä=oÉéçêíK

qÜÉ=_ç~êÇ=Ü~ë=~ÇçéíÉÇ=íÜÉ=^pud=ÇÉÑáåáíáçå=çÑ=áåÇÉéÉåÇÉåí=ÇáêÉÅíçêÒ=~åÇ=íÜÉ=áåÇÉéÉåÇÉåÅÉ=ÅêáíÉêá~=~êÉ=ëÉí=çìí=áå=íÜÉ=_ç~êÇ=Ü~êíÉêK==eçïÉîÉêI=áå=êÉä~íáçå=íç=íÜÉ=íÉêã=ëÉêîÉÇ=çå íÜÉ=_ç~êÇ=Äó=~=ÇáêÉÅíçêI=íÜÉ=_ç~êÇ=ÅçåëáÇÉêë=íÜ~í=~=éÉêáçÇ=áå=ÉñÅÉëë=çÑ=NO=óÉ~êëI=çÑ=áíëÉäÑI=áë=åçí=éÉêÅÉáîÉÇ=íç=áåíÉêÑÉêÉ=ïáíÜ=~=ÇáêÉÅíçêÛë=~Äáäáíó=íç=~Åí=áå=íÜÉ=ÄÉëí=áåíÉêÉëíë=çÑ=íÜÉ=çãé~åó ~åÇ=íÜÉêÉÑçêÉI=çÑ=áíëÉäÑI=ÇçÉë=åçí=áãé~áê=áåÇÉéÉåÇÉåÅÉK

få=êÉä~íáçå=íç=íÜÉ=íÉêã=çÑ=çÑÑáÅÉ=Ñçê=íÜÉ=ÇáêÉÅíçêëI=íÜÉ=_ç~êÇ=Ü~ë=~ÇçéíÉÇ=íÜÉ=ÑçääçïáåÖ=éçäáÅóW

pìÄàÉÅí=íç=ÅáêÅìãëí~åÅÉë=éêÉî~áäáåÖ=~í=íÜÉ=íáãÉ=~åÇ=íÜÉ=`çãé~åóÛë=~Äáäáíó=íç=ÑáåÇ=~=ëìáí~ÄäÉ=êÉéä~ÅÉãÉåíI=~=ÇáêÉÅíçê=ëÜ~ää=êÉíáêÉ=Ñêçã=íÜÉ=_ç~êÇ=åç=ä~íÉê=íÜ~å=íÜÉ=É~êäáÉê=çÑW

Ó
íÜÉ=ÅçåÅäìëáçå=çÑ=íÜÉ=~ååì~ä=ÖÉåÉê~ä=ãÉÉíáåÖ=çÅÅìêêáåÖ=~ÑíÉê=íÜÉ=íïÉäÑíÜ=~ååáîÉêë~êó=çÑ=íÜÉ=ÇáêÉÅíçêÛë=Ñáêëí=~ééçáåíãÉåí=çê=ÉäÉÅíáçå=íç=íÜÉ=_ç~êÇX=çê
Ó íÜÉ=ÅçåÅäìëáçå=çÑ=íÜÉ=~ååì~ä=ÖÉåÉê~ä=ãÉÉíáåÖ=çÅÅìêêáåÖ=áããÉÇá~íÉäó=~ÑíÉê=íÜÉ=ÇáêÉÅíçêÛë=ëÉîÉåíáÉíÜ=ÄáêíÜÇ~óK

qÜÉ=_ç~êÇ=ã~ó=ÅçåëáÇÉê=î~êá~íáçåë=íç=íÜáë=éçäáÅó=áå=ÉñÅÉéíáçå~ä=ÅáêÅìãëí~åÅÉëKÒ

aìêáåÖ=íÜÉ=OMMTLMU=Ñáå~åÅá~ä=óÉ~ê=~=åìãÄÉê=çÑ=ÅÜ~åÖÉë=íç=íÜÉ=Åçãéçëáíáçå=çÑ=íÜÉ=_ç~êÇ=çÅÅìêêÉÇK

^í=íÜÉ=ÅçåÅäìëáçå=çÑ=íÜÉ=OMMT=^ååì~ä=dÉåÉê~ä=jÉÉíáåÖI=jê=o=j=jÅiÉ~å=êÉíáêÉÇ=Ñêçã=íÜÉ=_ç~êÇ=áå=~ÅÅçêÇ~åÅÉ=ïáíÜ=`çãé~åó=éçäáÅóK==qÜáë=Å~ëì~ä=î~Å~åÅó=ï~ë=ÑáääÉÇ=ïáíÜ=íÜÉ= ~ééçáåíãÉåí=çÑ=jê=g=e=káÅâëçå=~ë=~=åçåJÉñÉÅìíáîÉ=ÇáêÉÅíçêK

lå=OO=cÉÄêì~êó=OMMU=íÜÉ=_ç~êÇ=ÇÉíÉêãáåÉÇ=áå=~ÅÅçêÇ~åÅÉ=ïáíÜ=íÜÉ=çãé~åóÛë=çåëíáíìíáçå=íç=ëÉí=íÜÉ=ã~ñáãìã=åìãÄÉê=çÑ=ÇáêÉÅíçêë=çÑ=íÜÉ=çãé~åó=~í=RK==jê=s=pÅáÇçåÉ=ï~ë ~ééçáåíÉÇ=~å=ÉñÉÅìíáîÉ=ÇáêÉÅíçê=çÑ=íÜÉ=çãé~åóK==jê=pÅáÇçåÉ=áë=íÜÉ=`çãé~åóÛë=dêçìé=dÉåÉê~ä=j~å~ÖÉê=J=fåÇìëíêá~äK

qç=ÉåëìêÉ=áåÇÉéÉåÇÉåí=àìÇÖÉãÉåí=áë=~ÅÜáÉîÉÇ=~åÇ=ã~áåí~áåÉÇ=áå=íÜÉ=ÇÉÅáëáçå=ã~âáåÖ=éêçÅÉëëI=~=åìãÄÉê=çÑ=ãÉ~ëìêÉë=Ü~îÉ=ÄÉÉå=áãéäÉãÉåíÉÇ=ïÜáÅÜ=áåÅäìÇÉW

Ó ÇáêÉÅíçêë=Ü~îÉ=íÜÉ=êáÖÜí=íç=çÄí~áå=áåÇÉéÉåÇÉåíI=éêçÑÉëëáçå~ä=~ÇîáÅÉ=çå=çãé~åó=êÉä~íÉÇ=ã~ííÉêëI=~í=íÜÉ=çãé~åóÛë=ÉñéÉåëÉI=éêçîáÇáåÖ=íÜÉ=ÉñéÉåëÉ=áë=êÉ~ëçå~ÄäÉ=~åÇ=íÜÉ=`Ü~áêã~å áë=åçíáÑáÉÇX=~åÇ
Ó
åçåJÉñÉÅìíáîÉ=ÇáêÉÅíçêë=ãÉÉí=Ñêçã=íáãÉ=íç=íáãÉ=ïáíÜçìí=ã~å~ÖÉãÉåí=áå=~ííÉåÇ~åÅÉK

qÜÉ=_ç~êÇ=Ü~ë=~=Ä~ä~åÅÉÇ=Åçãéçëáíáçå=ïáíÜ=É~ÅÜ=ÅìêêÉåí=ÇáêÉÅíçê=ÄêáåÖáåÖ=íç=íÜÉ=çãé~åó=~=ê~åÖÉ=çÑ=ÅçãéäÉãÉåí~êó=ëâáääë=~åÇ=ÉñéÉêáÉåÅÉ=~ë=çìíäáåÉÇ=çå=é~ÖÉ=U=çÑ=íÜÉ=çåÅáëÉ ^ååì~ä=oÉéçêíK

qç=~ëëáëí=íÜÉ=_ç~êÇ=áå=ÇáëÅÜ~êÖáåÖ=áíë=êÉëéçåëáÄáäáíáÉëI=íÜÉ=_ç~êÇ=Ü~ë=Éëí~ÄäáëÜÉÇ=íÜÉ=ÑçääçïáåÖ=_ç~êÇ=`çããáííÉÉëW

Ó
Ó
Ó
^ìÇáí=C=oáëâ=`çããáííÉÉX
oÉãìåÉê~íáçå=`çããáííÉÉX=~åÇ
kçãáå~íáçå=`çããáííÉÉK

ASXCGC Recommendation 2.2

qÜÉ=`Ü~áêéÉêëçå=ëÜçìäÇ=ÄÉ=~å=áåÇÉéÉåÇÉåí=ÇáêÉÅíçêK

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

STATEMENT OF CORPORATE GOVERNANCE PRACTICES (CONTINUED)

CGL Practice

lå=NN=^éêáä=OMMTI=jê=o=_=cäóåå=ï~ë=~ééçáåíÉÇ=~ë=íÜÉ=çãé~åóÛë=bñÉÅìíáîÉ=Ü~áêã~åK==jê=cäóåå=áë=åçí=áåÇÉéÉåÇÉåí=áå=íÉêãë=çÑ=íÜÉ=^pudÛë=ÅêáíÉêá~=Ñçê=áåÇÉéÉåÇÉåí=ÇáêÉÅíçêëK ^ÅÅçêÇáåÖäó=íÜÉ=`çãé~åó=ÇçÉë=åçí=Åçãéäó=ïáíÜ=íÜáë=êÉÅçããÉåÇ~íáçåK

qÜÉ=_ç~êÇ=ï~ë=ëíêçåÖäó=çÑ=íÜÉ=îáÉï=íÜ~í=íÜÉ=ãçëí=ëìáí~ÄäÉ=éÉêëçå=íç=ÄÉÅçãÉ=ÜáÉÑ=bñÉÅìíáîÉ=ìéçå=jê=däÉååÛë=ÇÉé~êíìêÉ=ï~ë=jê=cäóååI=ÖáîÉå=Üáë=êÉäÉî~åí=é~ëí=ÉñéÉêáÉåÅÉ=~åÇ= ~ÅÜáÉîÉãÉåíë=ÅçãÄáåÉÇ=ïáíÜ=Üáë=âåçïäÉÇÖÉ=çÑ=íÜÉ=çãé~åóI=áíë=éÉçéäÉ=~åÇ=áíë=çéÉê~íáçåëK==qÜÉ=P=áåÇÉéÉåÇÉåí=åçåJÉñÉÅìíáîÉ=ÇáêÉÅíçêë=Ü~îÉ=ÇÉÉé=áåëáÖÜí=íç=íÜÉ=ÄìëáåÉëëI=~êÉ= ÑêÉèìÉåíäó=ìéÇ~íÉÇ=~åÇ=~ééêçîÉ=~ää=ã~àçê=ÅçããáíãÉåíë=áå=äáåÉ=ïáíÜ=~=ÅäÉ~êäó=Éëí~ÄäáëÜÉÇ=~ìíÜçêáíó=ëÅÜÉÇìäÉK

ASXCGC Recommendation 2.3

qÜÉ=êçäÉë=çÑ=íÜÉ=Ü~áêéÉêëçå=~åÇ=íÜÉ=ÜáÉÑ=bñÉÅìíáîÉ=lÑÑáÅÉê=ëÜçìäÇ=åçí=ÄÉ=ÉñÉêÅáëÉÇ=Äó=íÜÉ=ë~ãÉ=áåÇáîáÇì~äK

CGL Practice

táíÜ=íÜÉ=~ééçáåíãÉåí=çÑ=jê=o=_=cäóåå=~ë=bñÉÅìíáîÉ=Ü~áêã~å=áå=^éêáä=OMMT=íÜÉ=êçäÉë=çÑ=Ü~áêéÉêëçå=~åÇ=íÜÉ=ÜáÉÑ=bñÉÅìíáîÉ=lÑÑáÅÉê=~êÉ=ÉñÉêÅáëÉÇ=Äó=íÜÉ=ë~ãÉ=éÉêëçåK==^ÅÅçêÇáåÖäó=íÜÉçãé~åó=ÇçÉë=åçí=Åçãéäó=ïáíÜ=íÜáë=êÉÅçããÉåÇ~íáçåK

oÉÑÉê=íç=ÅçããÉåíë=Ñçê=di=mê~ÅíáÅÉ=ìåÇÉê=^pud`=oÉÅçããÉåÇ~íáçå=OKOK

ASXCGC Recommendation 2.4

qÜÉ=_ç~êÇ=ëÜçìäÇ=Éëí~ÄäáëÜ=~=kçãáå~íáçå=`çããáííÉÉK

CGL Practice

qÜÉ=_ç~êÇ=Ü~ë=Éëí~ÄäáëÜÉÇ=~=kçãáå~íáçå=`çããáííÉÉK

qÜÉ=ãÉãÄÉêë=çÑ=íÜÉ=kçãáå~íáçå=`çããáííÉÉ=~êÉW

Ó o=_=cäóåå=EÜ~áêã~åFI=bñÉÅìíáîÉ=Ü~áêã~åK
Ó o=j=jÅiÉ~åI=áåÇÉéÉåÇÉåí=åçåJÉñÉÅìíáîÉ=ÇáêÉÅíçê=EãÉãÄÉê=ìåíáä=MRKNNKMTFK
Ó _=c=k~òÉêI=áåÇÉéÉåÇÉåí=åçåJÉñÉÅìíáîÉ=ÇáêÉÅíçêK
Ó
g=_çêçëI=áåÇÉéÉåÇÉåí=åçåJÉñÉÅìíáîÉ=ÇáêÉÅíçê=E~ééçáåíÉÇ=~=ãÉãÄÉê=çå=OOKMUKMUFK

qÜÉ=`çããáííÉÉ=Ü~ë=~=Ñçêã~ä=ÅÜ~êíÉê=~åÇ=áíë=êçäÉ=áë=íç=ÉåëìêÉ=íÜ~í=íÜÉ=_ç~êÇ=Ü~ë=~å=ÉÑÑÉÅíáîÉ=ÅçãéçëáíáçåI=ëáòÉ=~åÇ=ÅçããáíãÉåí=íç=~ÇÉèì~íÉäó=ÇáëÅÜ~êÖÉ=áíë=êÉëéçåëáÄáäáíáÉë=~åÇ=ÇìíáÉëK fíë=ÇìíáÉë=áåÅäìÇÉW

Ó êÉîáÉïáåÖ=~åÇ=ã~âáåÖ=êÉÅçããÉåÇ~íáçåë=íç=íÜÉ=_ç~êÇ=çå=íÜÉ=çéÉê~íáçå=~åÇ=éÉêÑçêã~åÅÉ=çÑ=íÜÉ=_ç~êÇX
Ó êÉîáÉïáåÖ=_ç~êÇ=Åçãéçëáíáçå=~åÇ=êÉÅçããÉåÇáåÖ=~ééçáåíãÉåíë=íç=íÜÉ=_ç~êÇ=EáåÅäìÇáåÖ=íÜÉ=ãçåáíçêáåÖ=çÑ=ÇáêÉÅíçê=áåÇÉéÉåÇÉåÅÉFX
Ó
Ó
Ó
êÉîáÉïáåÖ=_ç~êÇ=ëìÅÅÉëëáçå=éä~åëX
ÉåëìêáåÖ=ÉÑÑÉÅíáîÉ=áåÇìÅíáçå=éêçÖê~ããÉë=~êÉ=áå=éä~ÅÉX=~åÇ
êÉîáÉïáåÖ=íÜÉ=Åçãéçëáíáçå=çÑ=_ç~êÇ=ëìÄJÅçããáííÉÉëK

qÜÉ=çããáííÉÉ=áë=êÉèìáêÉÇ=íç=ãÉÉí=~í=äÉ~ëí=çåÅÉ=~=óÉ~ê=~åÇ=~í=çíÜÉê=íáãÉë=~ë=íÜÉ=Ü~áêã~å=çÑ=íÜÉ=`çããáííÉÉ=ÇáêÉÅíëK

qÜÉ=åìãÄÉê=çÑ=çããáííÉÉ=ãÉÉíáåÖë=ÜÉäÇ=~åÇ=~ííÉåÇÉÇ=Äó=áíë=ãÉãÄÉêë=áë=ëÉí=çìí=çå=é~ÖÉ=NN=çÑ=íÜÉ=çåÅáëÉ=^ååì~ä=oÉéçêíK

qÜÉ=çããáííÉÉÛë=Ü~êíÉê=Å~å=ÄÉ=îáÉïÉÇ=çå=íÜÉ=dêçìéÛë=ïÉÄëáíÉ=ìåÇÉê=íÜÉ=í~Ä=Ó=ÚfåîÉëíçêë=oÉä~íáçåëI=`çêéçê~íÉ=dçîÉêå~åÅÉ=pìãã~êóÛK

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

STATEMENT OF CORPORATE GOVERNANCE PRACTICES (CONTINUED)

3. ETHICAL AND RESPONSIBLE DECISION-MAKING

ASXCGC Principle 3

mêçãçíÉ=ÉíÜáÅ~ä=~åÇ=êÉëéçåëáÄäÉ=ÇÉÅáëáçåJã~âáåÖK

ASXCGC Recommendation 3.1

bëí~ÄäáëÜ=~=ÅçÇÉ=çÑ=ÅçåÇìÅí=íç=ÖìáÇÉ=íÜÉ=ÇáêÉÅíçêëI=íÜÉ=ÜáÉÑ=bñÉÅìíáîÉ=lÑÑáÅÉê=Eçê=Éèìáî~äÉåíFI=íÜÉ=ÜáÉÑ=cáå~åÅá~ä=lÑÑáÅÉê=Eçê=Éèìáî~äÉåíF=~åÇ=~åó=çíÜÉê=âÉó=ÉñÉÅìíáîÉë=~ë=íçW

PKNKNíÜÉ=éê~ÅíáÅÉë=åÉÅÉëë~êó=íç=ã~áåí~áå=ÅçåÑáÇÉåÅÉ=áå=íÜÉ=`çãé~åóÛë=áåíÉÖêáíóK

PKNKOíÜÉ=êÉëéçåëáÄáäáíó=~åÇ=~ÅÅçìåí~Äáäáíó=çÑ=áåÇáîáÇì~äë=Ñçê=êÉéçêíáåÖ=~åÇ=áåîÉëíáÖ~íáåÖ=êÉéçêíë=çÑ=ìåÉíÜáÅ~ä=éê~ÅíáÅÉK

CGL Practice

qÜÉ=çãé~åó=Ü~ë=~=Ñçêã~ä=çÇÉ=çÑ=çåÇìÅíK==qÜÉ=çÇÉ=ëÉíë=çìí=íÜÉ=éêáåÅáéäÉë=~åÇ=ëí~åÇ~êÇë=ïáíÜ=ïÜáÅÜ=~ää=íÜÉ=dêçìéÛë=ÇáêÉÅíçêë=~åÇ=ÉãéäçóÉÉë=~êÉ=ÉñéÉÅíÉÇ=íç=Åçãéäó=áå=íÜÉ= éÉêÑçêã~åÅÉ=çÑ=íÜÉáê=êÉëéÉÅíáîÉ=ÇìíáÉëK==qÜÉ=çÇÉ=êÉèìáêÉë=~ää=ÇáêÉÅíçêë=~åÇ=ÉãéäçóÉÉë=íç=~Åí=ïáíÜ=ÜçåÉëíó=~åÇ=áåíÉÖêáíóI=Åçãéäó=ïáíÜ=íÜÉ=ä~ï=~åÇ=ÅçåÇìÅí=íÜÉãëÉäîÉë=áå=íÜÉ=ÄÉëí= áåíÉêÉëíë=çÑ=íÜÉ=çãé~åóK

qÜÉ=çÇÉ=çÑ=çåÇìÅí=Å~å=ÄÉ=îáÉïÉÇ=çå=íÜÉ=dêçìéÛë=ïÉÄëáíÉI=ìåÇÉê=íÜÉ=í~Ä=Ó=ÚfåîÉëíçê=oÉä~íáçåëI=`çêéçê~íÉ=dçîÉêå~åÅÉ=pìãã~êóÛK

ASXCGC Recommendation 3.2

aáëÅäçëÉ=íÜÉ=éçäáÅó=ÅçåÅÉêåáåÖ=íê~ÇáåÖ=áå=`çãé~åó=ëÉÅìêáíáÉë=Äó=ÇáêÉÅíçêëI=çÑÑáÅÉêë=~åÇ=ÉãéäçóÉÉëK

CGL Practice

qÜÉ=ÇáêÉÅíçêë=~åÇ=ÉãéäçóÉÉë=çÑ=íÜÉ=çãé~åó=EïÜáÅÜ=áåÅäìÇÉë=ëÉåáçê=ã~å~ÖÉãÉåíF=~êÉ=éÉêãáííÉÇ=íç=íê~ÇÉ=áå=íÜÉ=çãé~åóÛë=ëÉÅìêáíáÉë=~í=~åó=íáãÉI=ëìÄàÉÅí=íç=áåëáÇÉê=íê~ÇáåÖ=äÉÖáëä~íáçå ~åÇ=íÜÉ=éçëëÉëëáçå=çÑ=éêáÅÉ=ëÉåëáíáîÉ=áåÑçêã~íáçåK

^=ëí~åÇáåÖ=~ÖÉåÇ~=áíÉã=~í=É~ÅÜ=ãçåíÜäó=_ç~êÇ=ãÉÉíáåÖ=áë=ÅçåëáÇÉê~íáçå=çÑ=ïÜÉíÜÉê=íÜÉ=ÇáêÉÅíçêë=~åÇ=ëÉåáçê=ã~å~ÖÉãÉåí=~êÉ=áå=éçëëÉëëáçå=çÑ=éêáÅÉ=ëÉåëáíáîÉ=áåÑçêã~íáçå=ïÜáÅÜ=ïçìäÇ éêÉÅäìÇÉ=íÜÉ=ÄìóáåÖ=çê=ëÉääáåÖ=çÑ=íÜÉ=`çãé~åóÛë=ëÉÅìêáíáÉëK==qÜÉ=ë~ãÉ=~ÖÉåÇ~=áíÉã=áë=~äëç=çå=íÜÉ=ãçåíÜäó=pÉåáçê=j~å~ÖÉãÉåí=qÉ~ã=ãÉÉíáåÖëK

fí=áë=íÜÉ=êÉëéçåëáÄáäáíó=çÑ=É~ÅÜ=ÇáêÉÅíçê=~åÇ=ëÉåáçê=ã~å~ÖÉê=íç=ÉåëìêÉ=íÜ~í=íÜÉ=áåëáÇÉê=íê~ÇáåÖ=éêçîáëáçåë=çÑ=íÜÉ=ä~ï=~êÉ=çÄëÉêîÉÇK

qÜÉ=çãé~åóÛë=çÇÉ=çÑ=çåÇìÅí=êÉèìáêÉë=íÜ~í=~ää=ÇáêÉÅíçêë=~åÇ=ÉãéäçóÉÉë=çÄëÉêîÉ=íÜÉ=áåëáÇÉê=íê~ÇáåÖ=ä~ï=ïÜáÅÜ=éêçÜáÄáíë=íÜÉ=ÄìóáåÖ=çê=ëÉääáåÖ=çÑ=íÜÉ=çãé~åóÛë=ëÉÅìêáíáÉë=~í=~åó íáãÉ=áÑ=íÜÉó=~êÉ=áå=éçëëÉëëáçå=çÑ=éêáÅÉ=ëÉåëáíáîÉ=áåÑçêã~íáçå=íÜ~í=Ü~ë=åçí=ÄÉÉå=êÉäÉ~ëÉÇ=íç=íÜÉ=ã~êâÉíK

b~ÅÜ=ÇáêÉÅíçê=Ü~ë=ÉåíÉêÉÇ=áåíç=~å=ìåÇÉêí~âáåÖ=ïáíÜ=íÜÉ=çãé~åó=êÉÖ~êÇáåÖ=íÜÉ=çÄäáÖ~íáçå=Ñçê=íÜÉ=íáãÉäó=ÇáëÅäçëìêÉ=íç=íÜÉ=^pu=çÑ=~åó=ÅÜ~åÖÉë=íç=íÜÉáê=áåíÉêÉëí=áå=ëÉÅìêáíáÉë=çÑ=íÜÉçãé~åóK

4. INTEGRITY OF FINANCIAL REPORTING

ASXCGC Principle 4

p~ÑÉÖì~êÇ=áåíÉÖêáíó=áå=Ñáå~åÅá~ä=êÉéçêíáåÖK

ASXCGC Recommendation 4.1

oÉèìáêÉë=íÜÉ=ÜáÉÑ=bñÉÅìíáîÉ=lÑÑáÅÉê=Eçê=Éèìáî~äÉåíF=~åÇ=íÜÉ=ÜáÉÑ=cáå~åÅá~ä=lÑÑáÅÉê=Eçê=Éèìáî~äÉåíF=íç=ëí~íÉ=áå=ïêáíáåÖ=íç=íÜÉ=_ç~êÇ=íÜ~í=íÜÉ=çãé~åóÛë=Ñáå~åÅá~ä=êÉéçêíë=éêÉëÉåí=~=íêìÉ ~åÇ=Ñ~áê=îáÉïI=áå=~ää=ã~íÉêá~ä=êÉëéÉÅíëI=çÑ=íÜÉ=çãé~åóÛë=Ñáå~åÅá~ä=ÅçåÇáíáçå=~åÇ=çéÉê~íáçå~ä=êÉëìäíë=~åÇ=~êÉ=áå=~ÅÅçêÇ~åÅÉ=ïáíÜ=êÉäÉî~åí=~ÅÅçìåíáåÖ=ëí~åÇ~êÇëK

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

STATEMENT OF CORPORATE GOVERNANCE PRACTICES (CONTINUED)

CGL Practice

qÜÉ=çãé~åóÛë=ÜáÉÑ=bñÉÅìíáîÉ=lÑÑáÅÉê=~åÇ=ÜáÉÑ=cáå~åÅá~ä=lÑÑáÅÉê=êÉéçêí=áå=ïêáíáåÖ=íç=íÜÉ=^ìÇáí=C=oáëâ=çããáííÉÉ=~åÇ=íÜÉ=_ç~êÇ=íÜ~í=íÜÉ=ÅçåëçäáÇ~íÉÇ=Ñáå~åÅá~ä=ëí~íÉãÉåíë=çÑ `çîÉåíêó=dêçìé=iíÇ=~åÇ=áíë=ÅçåíêçääÉÇ=ÉåíáíáÉë=Ñçê=É~ÅÜ=Ü~äÑ=~åÇ=Ñìää=Ñáå~åÅá~ä=óÉ~ê=éêÉëÉåí=~=íêìÉ=~åÇ=Ñ~áê=îáÉïI=áå=~ää=ã~íÉêá~ä=êÉëéÉÅíëI=çÑ=íÜÉ=dêçìéÛë=Ñáå~åÅá~ä=ÅçåÇáíáçå=~åÇ=çéÉê~íáçå~ä êÉëìäíë=~åÇ=~êÉ=áå=~ÅÅçêÇ~åÅÉ=ïáíÜ=íÜÉ=êÉäÉî~åí=~ÅÅçìåíáåÖ=ëí~åÇ~êÇëK

ASXCGC Recommendation 4.2

qÜÉ=_ç~êÇ=ëÜçìäÇ=Éëí~ÄäáëÜ=~å=^ìÇáí=`çããáííÉÉK

CGL Practice

qÜÉ=_ç~êÇ=Ü~ë=Éëí~ÄäáëÜÉÇ=~å=^ìÇáí=C=oáëâ=`çããáííÉÉK=

ASXCGC Recommendation 4.3

píêìÅíìêÉ=íÜÉ=^ìÇáí=`çããáííÉÉ=ëç=íÜ~í=áí=Åçåëáëíë=çÑW

Ó
çåäó=åçåJÉñÉÅìíáîÉ=ÇáêÉÅíçêëX
Ó ~=ã~àçêáíó=çÑ=áåÇÉéÉåÇÉåí=ÇáêÉÅíçêëX
Ó
~å=áåÇÉéÉåÇÉåí=ÅÜ~áêéÉêëçåI=ïÜç=áë=åçí=ÅÜ~áêéÉêëçå=çÑ=íÜÉ=_ç~êÇX=~åÇ
Ó ~í=äÉ~ëí=íÜêÉÉ=ãÉãÄÉêëK

CGL Practice

qÜÉ=ãÉãÄÉêë=çÑ=íÜÉ=^ìÇáí=C=oáëâ=`çããáííÉÉ=~êÉW

Ó _=c=k~òÉê=E`Ü~áêã~åFI=áåÇÉéÉåÇÉåí=åçåJÉñÉÅìíáîÉ=ÇáêÉÅíçê
Ó g=_çêçëI=áåÇÉéÉåÇÉåí=åçåJÉñÉÅìíáîÉ=ÇáêÉÅíçê
Ó o=j=jÅiÉ~åI=áåÇÉéÉåÇÉåí=åçåJÉñÉÅìíáîÉ=ÇáêÉÅíçê=E~=ãÉãÄÉê=ìåíáä=MRKNNKMTFK
Ó g=e=káÅâëçåI=áåÇÉéÉåÇÉåí=åçåJÉñÉÅìíáîÉ=ÇáêÉÅíçê=E~ééçáåíÉÇ=~=ãÉãÄÉê=çå=MTKNNKMTF=

qÜÉ=åìãÄÉê=çÑ=`çããáííÉÉ=ãÉÉíáåÖë=ÜÉäÇ=~åÇ=~ííÉåÇÉÇ=Äó=áíë=ãÉãÄÉêë=áë=ëÉí=çìí=çå=é~ÖÉ=NO=çÑ=íÜÉ=^ååì~ä=oÉéçêíK

qÜÉ=ÜáÉÑ=bñÉÅìíáîÉ=lÑÑáÅÉêI=áåíÉêå~ä=~åÇ=ÉñíÉêå~ä=~ìÇáíçêë=~åÇ=íÜÉ=ÜáÉÑ=cáå~åÅá~ä=lÑÑáÅÉê=~ííÉåÇ=ãÉÉíáåÖë=Äó=áåîáí~íáçåK

aÉí~áäë=çÑ=íÜÉ=ÉñéÉêáÉåÅÉ=çÑ=íÜÉ=ãÉãÄÉêë=çÑ=íÜÉ=çããáííÉÉ=~êÉ=ëÉí=çìí=çå=é~ÖÉ=U=çÑ=íÜÉ=^ååì~ä=oÉéçêí=~åÇ=áåÇáÅ~íÉ=íÜ~í=É~ÅÜ=áë=ëìáí~Ääó=èì~äáÑáÉÇ=íç=ÄÉ=~=ãÉãÄÉê=çÑ=íÜÉ=^ìÇáí=C=oáëâçããáííÉÉK

ASXCGC Recommendation 4.4

qÜÉ=^ìÇáí=`çããáííÉÉ=ëÜçìäÇ=Ü~îÉ=~=Ñçêã~ä=ÅÜ~êíÉêK

CGL Practice

qÜÉ=çãé~åóÛë=^ìÇáí=C=oáëâ=çããáííÉÉ=Ü~ë=~=Ñçêã~ä=ÅÜ~êíÉê=ïÜáÅÜ=ëÉíë=çìí=áíë=êçäÉI=Åçãéçëáíáçå=~åÇ=ÇìíáÉë=~åÇ=êÉëéçåëáÄáäáíáÉëK

qÜÉ=éêáã~êó=çÄàÉÅíáîÉ=çÑ=íÜÉ=`çããáííÉÉ=áë=íç=~ëëáëí=íÜÉ=_ç~êÇ=áå=ÇáëÅÜ~êÖáåÖ=áíë=êÉëéçåëáÄáäáíáÉë=áå=êÉä~íáçå=íç=Ñáå~åÅá~ä=êÉéçêíáåÖI=äÉÖ~ä=Åçãéäá~åÅÉ=êÉèìáêÉãÉåíëI=ã~áåíÉå~åÅÉ=çÑ= ÉÑÑÉÅíáîÉ=~åÇ=ÉÑÑáÅáÉåí=~ìÇáíë=EÄçíÜ=ÉñíÉêå~ä=~åÇ=áåíÉêå~äF=~åÇ=êáëâ=ã~å~ÖÉãÉåí=çÑ=íÜÉ=dêçìéK

qÜÉ=çããáííÉÉÛë=Ü~êíÉê=Å~å=ÄÉ=îáÉïÉÇ=çå=íÜÉ=dêçìéÛë=ïÉÄëáíÉI=ìåÇÉê=íÜÉ=í~Ä=Ó=ÚfåîÉëíçê=oÉä~íáçåëI=`çêéçê~íÉ=dçîÉêå~åÅÉ=pìãã~êóÛK

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

STATEMENT OF CORPORATE GOVERNANCE PRACTICES (CONTINUED)

5. CONTINUOUS DISCLOSURE TO ASX

ASXCGC Principle 5

j~âÉ=~=íáãÉäó=~åÇ=Ä~ä~åÅÉÇ=ÇáëÅäçëìêÉK

ASXCGC Recommendation 5.1

bëí~ÄäáëÜ=ïêáííÉå=éçäáÅáÉë=~åÇ=éêçÅÉÇìêÉë=ÇÉëáÖåÉÇ=íç=ÉåëìêÉ=Åçãéäá~åÅÉ=ïáíÜ=^pu=iáëíáåÖ=oìäÉ=ÇáëÅäçëìêÉ=êÉèìáêÉãÉåíë=~åÇ=íç=ÉåëìêÉ=~ÅÅçìåí~Äáäáíó=~í=~=ëÉåáçê=ã~å~ÖÉãÉåí=äÉîÉä=Ñçê íÜ~í=Åçãéäá~åÅÉK

CGL Practice

qÜÉ=_ç~êÇ=çÄëÉêîÉë=íÜÉ=Åçåíáåìçìë=ÇáëÅäçëìêÉ=çÄäáÖ~íáçåë=~ë=áãéçëÉÇ=Äó=íÜÉ=^pu=iáëíáåÖ=oìäÉëK==qÜÉ=ã~ííÉê=áë=Åçåíáåìçìëäó=ãçåáíçêÉÇ=Äó=íÜÉ=dêçìéÛë=ÉñÉÅìíáîÉ=ã~å~ÖÉãÉåí=~åÇ= êÉÖìä~êäó=êÉîáÉïÉÇ=Äó=íÜÉ=_ç~êÇ=çå=~=ãçåíÜäó=Ä~ëáë=~ë=~=ëí~åÇáåÖ=~ÖÉåÇ~=áíÉãK

^ää=åçíáÑáÅ~íáçåë=~åÇ=~ååçìåÅÉãÉåíë=íç=íÜÉ=^pu=~êÉ=éçëíÉÇ=çå=íÜÉ=`çãé~åóÛë=ïÉÄëáíÉI=ìåÇÉê=íÜÉ=í~Ä=Ó=ÚfåîÉëíçê=oÉä~íáçåëI=^pu=^ååçìåÅÉãÉåíëÛK

qÜÉ=çãé~åó=Ü~ë=~=Ñçêã~ä=éçäáÅó=Ñçê=ÅçããìåáÅ~íáåÖ=ïáíÜ=íÜÉ=áåîÉëíãÉåí=Åçããìåáíó=~åÇ=íÜÉ=ãÉÇá~K==qÜÉ=bñÉÅìíáîÉ=Ü~áêã~å=~åÇ=ÜáÉÑ=cáå~åÅá~ä=lÑÑáÅÉê=~êÉ=íÜÉ=çåäó=éÉêëçåë= ~ìíÜçêáëÉÇ=íç=ÅçããìåáÅ~íÉ=çå=ÄÉÜ~äÑ=çÑ=íÜÉ=çãé~åó=Ñçê=íÜÉëÉ=ëéÉÅáÑáÅ=ÖêçìéëK==qÜÉ=`çãé~åó=pÉÅêÉí~êó=áë=íÜÉ=êÉëéçåëáÄäÉ=éÉêëçå=Ñçê=~ää=ÅçããìåáÅ~íáçåë=ïáíÜ=íÜÉ=^puK

6. COMMUNICATION WITH SHAREHOLDERS

ASXCGC Principle 6

oÉëéÉÅí=íÜÉ=êáÖÜíë=çÑ=ëÜ~êÉÜçäÇÉêëK

ASXCGC Recommendation 6.1

aÉëáÖå=~åÇ=ÇáëÅäçëÉ=~=ÅçããìåáÅ~íáçåë=ëíê~íÉÖó=íç=éêçãçíÉ=ÉÑÑÉÅíáîÉ=ÅçããìåáÅ~íáçå=ïáíÜ=ëÜ~êÉÜçäÇÉêë=~åÇ=ÉåÅçìê~ÖÉ=ÉÑÑÉÅíáîÉ=é~êíáÅáé~íáçå=~í=ÖÉåÉê~ä=ãÉÉíáåÖëK

CGL Practice

qÜÉ=çãé~åó=ÉåÅçìê~ÖÉë=êÉÖìä~ê=~åÇ=íáãÉäó=ÅçããìåáÅ~íáçå=ïáíÜ=áíë=ëÜ~êÉÜçäÇÉêë=~åÇ=çíÜÉê=ëí~âÉÜçäÇÉêëK==çããìåáÅ~íáçå=ÅÜ~ååÉäë=ìëÉÇ=Äó=íÜÉ=`çãé~åó=áåÅäìÇÉW

Ó
Ó
êÉÖìä~ê=ëÜ~êÉÜçäÇÉê=ÅçããìåáÅ~íáçå=ëìÅÜ=~ë=íÜÉ=e~äÑ=vÉ~ê=oÉéçêíI=^ååì~ä=oÉéçêí=~åÇI=~ë=~ééêçéêá~íÉI=çíÜÉê=éÉêáçÇáÅ=~ÇîáÅÉë=ëìÅÜ=~ë=ÇáêÉÅíçê=ÅÜ~åÖÉëX
ëÜ~êÉÜçäÇÉê=~ÅÅÉëë=íç=ÅçããìåáÅ~íáçåë=íÜêçìÖÜ=íÜÉ=ìëÉ=çÑ=áåÑçêã~íáçå=íÉÅÜåçäçÖó=ëìÅÜ=~ë=íÜÉ=`çãé~åóÛë=ïÉÄëáíÉ=EïïïKÅÖäKÅçãK~ìF=ïÜÉêÉ=~ää=âÉó=åçíáÅÉëI=éçäáÅáÉë=~åÇ=ÇçÅìãÉåíë ~êÉ=éçëíÉÇX=~åÇ
Ó ~=ÇáêÉÅí=äáåâ=Ñêçã=íÜÉ=çãé~åóÛë=ïÉÄëáíÉ=íç=çãéìíÉêëÜ~êÉ=fåîÉëíçê=pÉêîáÅÉëI=íÜÉ=`çãé~åóÛë=ëÜ~êÉ=êÉÖáëíêó=ëÉêîáÅÉ=éêçîáÇÉêK

qÜÉ=_ç~êÇ=ÉåÅçìê~ÖÉë=Ñìää=é~êíáÅáé~íáçå=Äó=ëÜ~êÉÜçäÇÉêë=~í=íÜÉ=^ååì~ä=dÉåÉê~ä=jÉÉíáåÖ=íç=ÉåëìêÉ=~=ÜáÖÜ=äÉîÉä=çÑ=~ÅÅçìåí~Äáäáíó=~åÇ=ìåÇÉêëí~åÇáåÖ=çÑ=íÜÉ=dêçìéÛë=ëíê~íÉÖó=~åÇ=Öç~äëK fãéçêí~åí=áëëìÉë=~êÉ=éêÉëÉåíÉÇ=íç=ëÜ~êÉÜçäÇÉêë=~ë=ëáåÖäÉ=êÉëçäìíáçåëK==pÜ~êÉÜçäÇÉêë=~êÉ=ÉåÅçìê~ÖÉÇ=íç=ëìÄãáí=ïêáííÉå=èìÉëíáçåë=íç=íÜÉ=_ç~êÇ=éêáçê=íç=íÜÉ=^ååì~ä=dÉåÉê~ä=jÉÉíáåÖK==qÜÉ bñÉÅìíáîÉ=`Ü~áêã~åÛë=~ÇÇêÉëë=~í=íÜÉ=^ååì~ä=dÉåÉê~ä=jÉÉíáåÖ=áë=ëáãìäí~åÉçìëäó=êÉäÉ~ëÉÇ=íç=íÜÉ=^pu=~åÇ=éçëíÉÇ=çå=íÜÉ=ïÉÄëáíÉK

qÜÉ=çãé~åó=ÇçÉë=åçí=ïÉÄÅ~ëí=çê=ã~âÉ=~=îáÇÉç=çÑ=éêçÅÉÉÇáåÖë=~í=~å=^ååì~ä=dÉåÉê~ä=jÉÉíáåÖ=~ë=íÜÉ=êÉä~íáîÉ=ëáòÉ=çÑ=íÜÉ=çãé~åóÛë=ëÜ~êÉÜçäÇÉê=Ä~ëÉ=ÇçÉë=åçí=ï~êê~åí=íÜÉ=ÅçëíK

ASXCGC Recommendation 6.2

oÉèìÉëí=íÜÉ=ÉñíÉêå~ä=~ìÇáíçê=íç=~ííÉåÇ=íÜÉ=~ååì~ä=ÖÉåÉê~ä=ãÉÉíáåÖ=~åÇ=ÄÉ=~î~áä~ÄäÉ=íç=~åëïÉê=ëÜ~êÉÜçäÇÉê=èìÉëíáçåë=~Äçìí=íÜÉ=ÅçåÇìÅí=çÑ=íÜÉ=~ìÇáí=~åÇ=íÜÉ=éêÉé~ê~íáçå=~åÇ=ÅçåíÉåí çÑ=íÜÉ=~ìÇáíçêÛë=êÉéçêíK

CGL Practice

qÜÉ=`çãé~åóÛë=éê~ÅíáÅÉ=áë=íç=ÉåëìêÉ=íÜÉ=dêçìéÛë=ÉñíÉêå~ä=~ìÇáíçê=~ííÉåÇë=íÜÉ=^ååì~ä=dÉåÉê~ä=jÉÉíáåÖ=~åÇ=áë=~î~áä~ÄäÉ=íç=~åëïÉê=èìÉëíáçåë=Ñêçã=ëÜ~êÉÜçäÇÉêë=çå=ã~ííÉêë=êÉä~íáåÖ=íç=íÜÉ ~ìÇáí=çÑ=íÜÉ=dêçìéÛë=~ÅÅçìåíëK==mêáçê=íç=íÜÉ=^ååì~ä=dÉåÉê~ä=jÉÉíáåÖ=ëÜ~êÉÜçäÇÉêë=~êÉ=áåîáíÉÇ=íç=ëìÄãáí=ïêáííÉå=èìÉëíáçåë=íç=íÜÉ=ÉñíÉêå~ä=~ìÇáíçêK

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

STATEMENT OF CORPORATE GOVERNANCE PRACTICES (CONTINUED)

7. RISK MANAGEMENT

ASXCGC Principle 7

oÉÅçÖåáëÉ=~åÇ=ã~å~ÖÉ=êáëâK

ASXCGC Recommendation 7.1

qÜÉ=_ç~êÇ=çê=~ééêçéêá~íÉ=_ç~êÇ=`çããáííÉÉ=ëÜçìäÇ=Éëí~ÄäáëÜ=éçäáÅáÉë=çå=êáëâ=çîÉêëáÖÜí=~åÇ=ã~å~ÖÉãÉåíK

CGL Practice

aìêáåÖ=íÜÉ=OMMTLMU=Ñáå~åÅá~ä=óÉ~ê=ÉñíÉêå~ä=Åçåëìäí~åíë=ïÉêÉ=ÉåÖ~ÖÉÇ=íç=êÉîáÉï=íÜÉ=Éëí~ÄäáëÜÉÇ=êáëâ=êÉÖáëíÉêë=Ñçê=íÜÉ=êÉëéÉÅíáîÉ=ÄìëáåÉëë=ìåáíë=çÑ=íÜÉ=dêçìéK==qÜÉ=~áã=áë=íç=Ñçêã~äáëÉ=~ êáëâ=ã~å~ÖÉãÉåí=éçäáÅó=~ë=ïÉää=~ë=áÇÉåíáÑó=íÜÉ=ëí~íìë=çÑ=íÜÉ=dêçìéÛë=ã~íÉêá~ä=ÄìëáåÉëë=êáëâëK==fí=áë=~åíáÅáé~íÉÇ=íÜ~í=íÜáë=éêçÅÉëë=ïáää=ÄÉ=ÅçãéäÉíÉÇ=áå=íÜÉ=ä~ííÉê=é~êí=çÑ=íÜÉ=OMMU=Å~äÉåÇ~ê óÉ~êK

qÜÉ=`çãé~åó=Ü~ë=áå=éä~ÅÉ=~å=çåäáåÉ=íê~ÇÉ=éê~ÅíáÅÉë=Åçãéäá~åÅÉ=éêçÖê~ã=~ë=é~êí=çÑ=~å=áåáíá~íáîÉ=íç=ãáíáÖ~íÉ=êáëâë=áå=íÜáë=~êÉ~K

ASXCGC Recommendation 7.2

qÜÉ=ÜáÉÑ=bñÉÅìíáîÉ=lÑÑáÅÉê=~åÇ=íÜÉ=ÜáÉÑ=cáå~åÅá~ä=lÑÑáÅÉê=ëÜçìäÇ=ëí~íÉ=áå=ïêáíáåÖ=íÜ~íW

TKOKNíÜÉ=ëí~íÉãÉåí=ÖáîÉå=áå=~ÅÅçêÇ~åÅÉ=ïáíÜ=ÄÉëí=éê~ÅíáÅÉ=êÉÅçããÉåÇ~íáçå=QKN=áë=ÑçìåÇÉÇ=çå=~=ëçìåÇ=ëóëíÉã=çÑ=êáëâ=ã~å~ÖÉãÉåí=~åÇ=áåíÉêå~ä=Åçãéäá~åÅÉ=~åÇ=Åçåíêçä=ïÜáÅÜ= áãéäÉãÉåíë=íÜÉ=éçäáÅáÉë=~ÇçéíÉÇ=Äó=íÜÉ=_ç~êÇX=~åÇ

TKOKOíÜÉ=`çãé~åóÛë=êáëâ=ã~å~ÖÉãÉåí=~åÇ=áåíÉêå~ä=Åçãéäá~åÅÉ=~åÇ=Åçåíêçä=ëóëíÉã=áë=çéÉê~íáåÖ=ÉÑÑáÅáÉåíäó=~åÇ=ÉÑÑÉÅíáîÉäó=áå=~ää=ã~íÉêá~ä=êÉëéÉÅíëK

CGL Practice

qÜÉ=çãé~åóÛë=ÜáÉÑ=bñÉÅìíáîÉ=lÑÑáÅÉê=~åÇ=ÜáÉÑ=cáå~åÅá~ä=lÑÑáÅÉê=Ü~îÉ=êÉéçêíÉÇ=áå=ïêáíáåÖ=íç=íÜÉ=^ìÇáí=C=oáëâ=çããáííÉÉ=~åÇ=íÜÉ=_ç~êÇ=íÜ~íW

EáF íÜÉ=ëí~íÉãÉåí=ÖáîÉå=áå=~ÅÅçêÇ~åÅÉ=ïáíÜ=`çìåÅáäÛë=ÄÉëí=éê~ÅíáÅÉ=êÉÅçããÉåÇ~íáçå=QKN=EíÜÉ=áåíÉÖêáíó=çÑ=Ñáå~åÅá~ä=ëí~íÉãÉåíëF=áë=ÑçìåÇÉÇ=çå=~=ëçìåÇ=ëóëíÉã=çÑ=êáëâ=ã~å~ÖÉãÉåí=~åÇ áåíÉêå~ä=Åçãéäá~åÅÉ=~åÇ=Åçåíêçä=ïÜáÅÜ=áãéäÉãÉåíë=íÜÉ=éçäáÅáÉë=~ÇçéíÉÇ=Äó=íÜÉ=_ç~êÇX=~åÇ
EááF íÜÉ=`çãé~åóÛë=êáëâ=ã~å~ÖÉãÉåí=~åÇ=áåíÉêå~ä=Åçãéäá~åÅÉ=~åÇ=Åçåíêçä=Ñê~ãÉïçêâ=áë=ãçëíäó=çéÉê~íáåÖ=ÉÑÑáÅáÉåíäó=~åÇ=ÉÑÑÉÅíáîÉäó=áå=~ää=ã~íÉêá~ä=êÉëéÉÅíë=~åÇ=ïÜÉêÉ=åçí=ëç=çéÉê~íáåÖI áë=ÄÉáåÖ=ÄêçìÖÜí=áåíç=Åçãéäá~åÅÉK

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

STATEMENT OF CORPORATE GOVERNANCE PRACTICES (CONTINUED)

8. ENHANCEMENT OF PERFORMANCE

ASXCGC Principle 8

båÅçìê~ÖÉ=ÉåÜ~åÅÉÇ=éÉêÑçêã~åÅÉK

ASXCGC Recommendation 8.1

aáëÅäçëÉ=íÜÉ=éêçÅÉëë=Ñçê=éÉêÑçêã~åÅÉ=Éî~äì~íáçå=çÑ=íÜÉ=_ç~êÇI=áíë=ÅçããáííÉÉë=~åÇ=áåÇáîáÇì~ä=ÇáêÉÅíçêëI=~åÇ=âÉó=ÉñÉÅìíáîÉëK

CGL Practice

qÜÉ=_ç~êÇÛë=ÅÜ~êíÉê=ëíáéìä~íÉë=íÜ~í=~å=~ååì~ä=éÉêÑçêã~åÅÉ=Éî~äì~íáçå=çÑ=íÜÉ=_ç~êÇ=ÄÉ=ìåÇÉêí~âÉåK==qÜÉ=^ìÇáí=C=oáëâ=`çããáííÉÉ=~äëç=Ü~ë=~=êÉèìáêÉãÉåí=Ñçê=êÉÖìä~ê=ëÉäÑ=~ëëÉëëãÉåíK

qÜÉ=~ååì~ä=êÉîáÉï=çÑ=íÜÉ=_ç~êÇ=áë=Å~êêáÉÇ=çìí=íÜêçìÖÜ=íÜÉ=êÉîáÉï=~åÇ=~å~äóëáë=çÑ=êÉëéçåëÉë=íç=~=ÅçåÑáÇÉåíá~ä=èìÉëíáçåå~áêÉ=ÅçãéäÉíÉÇ=Äó=É~ÅÜ=ÇáêÉÅíçêI=ïÜáÅÜ=éçëÉë=ëéÉÅáÑáÅ=èìÉëíáçåë çå=áëëìÉë=ëìêêçìåÇáåÖ=ãÉÉíáåÖ=äçÖáëíáÅëI=ïçêâ=éêçÖê~ããÉI=áåíÉê~Åíáçå=ïáíÜ=ã~å~ÖÉãÉåí=~åÇ=~åó=éÉêÅÉáîÉÇ=ëíêÉåÖíÜë=~åÇ=ïÉ~âåÉëëÉë=çÑ=íÜÉ=_ç~êÇ=~åÇ=áíë=`çããáííÉÉëK

cçääçïáåÖ=~=êÉîáÉï=çÑ=íÜÉ=ÅçåíÉåí=çÑ=íÜÉ=èìÉëíáçåå~áêÉë=Äó=íÜÉ=`Ü~áêã~åI=~=ëìãã~êó=çÑ=íÜÉ=çîÉê~ää=êÉëìäí=áë=ÇáëíêáÄìíÉÇ=íç=~åÇ=ÇáëÅìëëÉÇ=Äó=aáêÉÅíçêëK==páÖåáÑáÅ~åí=áëëìÉë=áÇÉåíáÑáÉÇ=çê ÅÜ~åÖÉë=êÉÅçããÉåÇÉÇ=~êÉ=~ÅíáçåÉÇ=áå=íÜÉ=_ç~êÇÛë=çåÖçáåÖ=ÇÉîÉäçéãÉåí=éêçÖê~ããÉK

qÜÉ=`çãé~åó=Ü~ë=~=Ñçêã~ä=áåÇìÅíáçå=éêçÖê~ããÉ=Ñçê=~ää=åÉïäó=~ééçáåíÉÇ=ÇáêÉÅíçêëK

^êê~åÖÉãÉåíë=~äëç=~êÉ=áå=éä~ÅÉ=íç=ãçåáíçê=íÜÉ=éÉêÑçêã~åÅÉ=çÑ=ëÉåáçê=ÉñÉÅìíáîÉë=çÑ=íÜÉ=dêçìéK==qÜÉ=ÇáêÉÅí=êÉéçêíë=íç=íÜÉ=`ÜáÉÑ=bñÉÅìíáîÉ=lÑÑáÅÉê=Ü~îÉ=Ñçêã~ä=éÉêÑçêã~åÅÉ=êÉîáÉïë=~í äÉ~ëí=çåÅÉ=~=óÉ~êK

qÜÉ=_ç~êÇ=ãçåáíçêë=íÜÉ=éÉêÑçêã~åÅÉ=çÑ=íÜÉ=ÜáÉÑ=bñÉÅìíáîÉ=lÑÑáÅÉê=~åÇ=Üáë=ÇáêÉÅí=êÉéçêíë=Eáå=Åçåëìäí~íáçå=ïáíÜ=íÜÉ=ÜáÉÑ=bñÉÅìíáîÉ=lÑÑáÅÉêF=íç=ÉåëìêÉ=íÜ~í=íÜÉ=äÉîÉä=çÑ=êÉï~êÇ=áë=~äáÖåÉÇ ïáíÜ=êÉëéÉÅíáîÉ=êÉëéçåëáÄáäáíáÉë=~åÇ=áåÇáîáÇì~ä=ÅçåíêáÄìíáçåë=ã~ÇÉ=íç=íÜÉ=ëìÅÅÉëë=çÑ=íÜÉ=`çãé~åóK

9. REMUNERATION

ASXCGC Principle 9

oÉãìåÉê~íÉ=Ñ~áêäó=~åÇ=êÉëéçåëáÄäóK

ASXCGC Recommendation 9.1

mêçîáÇÉ=ÇáëÅäçëìêÉ=áå=êÉä~íáçå=íç=íÜÉ=`çãé~åóÛë=êÉãìåÉê~íáçå=éçäáÅáÉë=íç=Éå~ÄäÉ=áåîÉëíçêë=íç=ìåÇÉêëí~åÇW

EáF íÜÉ=Åçëíë=~åÇ=ÄÉåÉÑáíë=çÑ=íÜçëÉ=éçäáÅáÉëX=~åÇ

EááF íÜÉ=äáåâ=ÄÉíïÉÉå=êÉãìåÉê~íáçå=é~áÇ=íç=ÇáêÉÅíçêë=~åÇ=âÉó=ÉñÉÅìíáîÉë=~åÇ=Åçêéçê~íÉ=éÉêÑçêã~åÅÉK

CGL Practice

qÜÉ=çãé~åóÛë=éçäáÅáÉë=êÉä~íáåÖ=íç=íÜÉ=aáêÉÅíçêëÛ=~åÇ=ëÉåáçê=ÉñÉÅìíáîÉëÛ=êÉãìåÉê~íáçå=~åÇ=íÜÉ=äÉîÉä=çÑ=íÜÉáê=êÉãìåÉê~íáçå=~êÉ=ëÉí=çìí=áå=íÜÉ=oÉãìåÉê~íáçå=oÉéçêí=çå=é~ÖÉë=NP=íç=OV=çÑ íÜÉ=çåÅáëÉ=^ååì~ä=oÉéçêíK

ASXCGC Recommendation 9.2

qÜÉ=_ç~êÇ=íç=Éëí~ÄäáëÜ=~=oÉãìåÉê~íáçå=`çããáííÉÉK

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

STATEMENT OF CORPORATE GOVERNANCE PRACTICES (CONTINUED)

CGL Practice

qÜÉ=_ç~êÇ=Ü~ë=Éëí~ÄäáëÜÉÇ=~=oÉãìåÉê~íáçå=`çããáííÉÉK

qÜÉ=ãÉãÄÉêë=çÑ=íÜÉ=oÉãìåÉê~íáçå=`çããáííÉÉ=~êÉW

Ó o=j=jÅiÉ~åI=áåÇÉéÉåÇÉåí=åçåJÉñÉÅìíáîÉ=ÇáêÉÅíçê=E`Ü~áêã~å=ìåíáä=PMKMVKMTX=ãÉãÄÉê=ìåíáä=MRKNNKMTF
Ó g=_çêçëI=áåÇÉéÉåÇÉåí=åçåJÉñÉÅìíáîÉ=ÇáêÉÅíçê=E~ééçáåíÉÇ=`Ü~áêã~å=çå=PMKMVKMTF
Ó
g=e=káÅâëçåI=áåÇÉéÉåÇÉåí=åçåJÉñÉÅìíáîÉ=ÇáêÉÅíçê=E~ééçáåíÉÇ=~=ãÉãÄÉê=MTKNOKMTFK

qÜÉ=çããáííÉÉ=Ü~ë=~=Ñçêã~ä=ÅÜ~êíÉêK==qÜÉ=êçäÉ=çÑ=íÜÉ=çããáííÉÉ=áë=íç=~ëëáëí=íÜÉ=_ç~êÇ=áå=ÉåëìêáåÖ=íÜ~í=~ééêçéêá~íÉ=~åÇ=ÉÑÑÉÅíáîÉ=êÉãìåÉê~íáçå=é~Åâ~ÖÉë=~åÇ=éçäáÅáÉë=~êÉ=áãéäÉãÉåíÉÇ Ñçê=íÜÉ=ÜáÉÑ=bñÉÅìíáîÉ=lÑÑáÅÉêI=ÉñÉÅìíáîÉ=ÇáêÉÅíçêë=EáÑ=~åóF=~åÇ=íÜçëÉ=ÉñÉÅìíáîÉë=ïÜç=êÉéçêí=ÇáêÉÅíäó=íç=íÜÉ=ÜáÉÑ=bñÉÅìíáîÉ=lÑÑáÅÉêK==qÜÉ=`çããáííÉÉ=~äëç=êÉîáÉïë=åçåJÉñÉÅìíáîÉ=ÇáêÉÅíçêëÛ êÉãìåÉê~íáçåK

qÜÉ=çããáííÉÉ=áë=êÉèìáêÉÇ=íç=ãÉÉí=íïáÅÉ=~=óÉ~ê=~åÇ=~í=çíÜÉê=íáãÉë=~ë=íÜÉ=Ü~áêã~å=çÑ=íÜÉ=`çããáííÉÉ=ÇáêÉÅíëK

qÜÉ=ÜáÉÑ=bñÉÅìíáîÉ=lÑÑáÅÉêI=ïÜç=~ííÉåÇë=Äó=áåîáí~íáçåI=~ÄëÉåíë=ÜáãëÉäÑ=Ñêçã=ãÉÉíáåÖë=ÄÉÑçêÉ=~åó=ÇáëÅìëëáçå=Äó=íÜÉ=çããáííÉÉ=áå=êÉä~íáçå=íç=Üáë=çïå=êÉãìåÉê~íáçåK

ASXCGC Recommendation 9.3

`äÉ~êäó=ÇáëíáåÖìáëÜ=íÜÉ=ëíêìÅíìêÉ=çÑ=åçåJÉñÉÅìíáîÉ=ÇáêÉÅíçêëÛ=êÉãìåÉê~íáçå=Ñêçã=íÜ~í=çÑ=ÉñÉÅìíáîÉëK

CGL Practice

qÜÉ=êÉãìåÉê~íáçå=çÑ=åçåJÉñÉÅìíáîÉ=ÇáêÉÅíçêë=áë=êÉîáÉïÉÇ=çå=~=éÉêáçÇáÅ=Ä~ëáë=Äó=íÜÉ=oÉãìåÉê~íáçå=`çããáííÉÉ=Ü~îáåÖ=êÉÖ~êÇ=íç=íÜÉ=ïçêâ=äç~Ç=çÑ=íÜÉ=ÇáêÉÅíçêë=~åÇ=íÜÉ=äÉîÉä=çÑ=ÑÉÉë=é~áÇ íç=åçåJÉñÉÅìíáîÉ=ÇáêÉÅíçêë=çÑ=çíÜÉê=Åçãé~åáÉë=çÑ=ëáãáä~ê=ëáòÉ=~åÇ=å~íìêÉK

qÜÉ=~ÖÖêÉÖ~íÉ=~ãçìåí=é~ó~ÄäÉ=íç=åçåJÉñÉÅìíáîÉ=ÇáêÉÅíçêë=ãìëí=åçí=ÉñÅÉÉÇ=íÜÉ=ã~ñáãìã=~ååì~ä=~ãçìåí=~ééêçîÉÇ=Äó=íÜÉ=çãé~åóÛë=ëÜ~êÉÜçäÇÉêë=~í=íÜÉ=^ååì~ä=dÉåÉê~ä=jÉÉíáåÖK cìêíÜÉê=ÇÉí~áäë=çÑ=åçåJÉñÉÅìíáîÉ=ÇáêÉÅíçêëÛ=êÉãìåÉê~íáçå=~êÉ=Åçåí~áåÉÇ=áå=íÜÉ=oÉãìåÉê~íáçå=oÉéçêí=çå=é~ÖÉë=NP=íç=OV=çÑ=íÜÉ=çåÅáëÉ=^ååì~ä=oÉéçêíK

^ää=ëÉåáçê=çãé~åó=ÉñÉÅìíáîÉë=Ü~îÉ=ëÉêîáÅÉ=Åçåíê~Åíë=ïÜáÅÜ=ÅäÉ~êäó=ëÉí=çìí=íÜÉ=Ä~ëáë=Ñçê=íÜÉáê=êÉãìåÉê~íáçåK==cìêíÜÉê=ÇÉí~áäë=çÑ=ÉñÉÅìíáîÉ=êÉãìåÉê~íáçå=~êÉ=ëÉí=çìí=áå=íÜÉ=oÉãìåÉê~íáçå oÉéçêí=çå=é~ÖÉë=NP=íç=OV=çÑ=íÜÉ=çåÅáëÉ=^ååì~ä=oÉéçêíK

ASXCGC Recommendation 9.4

båëìêÉ=íÜ~í=é~óãÉåí=çÑ=ÉèìáíóJÄ~ëÉÇ=ÉñÉÅìíáîÉ=êÉãìåÉê~íáçå=áë=ã~ÇÉ=áå=~ÅÅçêÇ~åÅÉ=ïáíÜ=íÜêÉëÜçäÇë=ëÉí=áå=éä~åë=~ééêçîÉÇ=Äó=ëÜ~êÉÜçäÇÉêëK

CGL Practice

qÜÉ=`çãé~åó=ÉåëìêÉë=íÜ~í=íÜÉ=é~óãÉåí=çÑ=ÉèìáíóJÄ~ëÉÇ=ÉñÉÅìíáîÉ=êÉãìåÉê~íáçå=áë=ã~ÇÉ=áå=~ÅÅçêÇ~åÅÉ=ïáíÜ=íÜêÉëÜçäÇë=ëÉí=áå=éä~åë=~ééêçîÉÇ=Äó=ëÜ~êÉÜçäÇÉêëK

qÜÉ=bñÉÅìíáîÉ=içåÖ=qÉêã=fåÅÉåíáîÉ=mä~å=ï~ë=~ééêçîÉÇ=Äó=ëÜ~êÉÜçäÇÉêë=~í=íÜÉ=OMMP=^ååì~ä=dÉåÉê~ä=jÉÉíáåÖK

qÜÉ=äçåÖ=íÉêã=áåÅÉåíáîÉ=Ñçê=OMMTLMU=áåÅäìÇÉÇ=íÜÉ=bñÉÅìíáîÉ=`Ü~áêã~å=~åÇ=áåîçäîÉÇ=íÜÉ=áëëìÉ=çÑ=ìåäáëíÉÇ=çéíáçåëK=qÜÉ=áëëìÉ=ï~ë=~ééêçîÉÇ=Äó=ëÜ~êÉÜçäÇÉêë=~í=íÜÉ=OMMT=^ååì~ä=dÉåÉê~ä jÉÉíáåÖK

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

STATEMENT OF CORPORATE GOVERNANCE PRACTICES (CONTINUED)

10. INTERESTS OF STAKEHOLDERS

ASXCGC Principle 10

oÉÅçÖåáëÉ=íÜÉ=äÉÖáíáã~íÉ=áåíÉêÉëíë=çÑ=ëí~âÉÜçäÇÉêëK

ASXCGC Recommendation 10.1

bëí~ÄäáëÜ=~åÇ=ÇáëÅäçëÉ=~=ÅçÇÉ=çÑ=ÅçåÇìÅí=íç=ÖìáÇÉ=Åçãéäá~åÅÉ=ïáíÜ=äÉÖ~ä=~åÇ=çíÜÉê=çÄäáÖ~íáçåë=íç=äÉÖáíáã~íÉ=ëí~âÉÜçäÇÉêëK

CGL Practice

qÜÉ=çãé~åó=Ü~ë=~=Ñçêã~ä=çÇÉ=çÑ=çåÇìÅíK==qÜÉ=çÇÉ=ãìëí=ÄÉ=çÄëÉêîÉÇ=Äó=~ää=ÇáêÉÅíçêë=~åÇ=ÉãéäçóÉÉë=çÑ=íÜÉ=`çãé~åóK

qÜÉ=çÇÉ=êÉáåÑçêÅÉë=íÜÉ=çãé~åóÛë=ÑìåÇ~ãÉåí~ä=éêáåÅáéäÉ=íÜ~í=~ää=çÑÑáÅÉêë=ïáää=ìåÇÉêí~âÉ=~ää=ÄìëáåÉëë=~ÅíáîáíáÉë=áå=ëíêáÅí=~ÇÜÉêÉåÅÉ=íç=íÜÉ=çãé~åóÛë=î~äìÉë=Ñçê=íÜÉ=ÄÉåÉÑáí=çÑ=çìê ÉãéäçóÉÉëI=ÅìëíçãÉêëI=ëìééäáÉêë=~åÇ=çíÜÉê=ëí~âÉÜçäÇÉêëK==qÜÉ=çãé~åóÛë=î~äìÉë=áåÅäìÇÉW

Ó
~Åí=ïáíÜ=ÜçåÉëíó=~åÇ=áåíÉÖêáíóX
Ó ~Åí=éêçÑÉëëáçå~ääó=~í=~ää=íáãÉëX
Ó ÄÉ=~ÅÅçìåí~ÄäÉ=Ñçê=êÉëéÉÅíáîÉ=~êÉ~ë=çÑ=ÄìëáåÉëë=íç=çéíáãáòÉ=ëÜ~êÉÜçäÇÉê=êÉíìêåëX
Ó ëíêáîÉ=Ñçê=áååçî~íáçå=~åÇ=Åçåíáåìçìë=áãéêçîÉãÉåíX
Ó ÅçããìåáÅ~íÉ=çéÉåäó=~åÇ=ÜçåÉëíäóX=~åÇ
Ó
~ííê~Åí=~åÇ=êÉí~áå=éÉçéäÉ=çÑ=íÜÉ=ÜáÖÜÉëí=ëâáääë=~åÇ=ÅçãéÉíÉåÅáÉëK

qÜÉ=_ç~êÇ=Ü~ë=~äëç=~ÇçéíÉÇ=~=Ñçêã~ä=éçäáÅó=Ñçê=íÜÉ=dêçìé=áå=Åçãéäá~åÅÉ=ïáíÜ=éêáî~Åó=äÉÖáëä~íáçå=ïÜáÅÜ=~ééäáÉë=íç=éêáî~íÉ=ëÉÅíçê=çêÖ~åáë~íáçåëK

qÜÉ=çÇÉ=çÑ=çåÇìÅí=~åÇ=mêáî~Åó=mçäáÅó=Å~å=ÄÉ=îáÉïÉÇ=çå=íÜÉ=dêçìéÛë=ïÉÄëáíÉ=ìåÇÉê=íÜÉ=í~Ä=Ó=ÚfåîÉëíçê=oÉä~íáçåëI=`çêéçê~íÉ=dçîÉêå~åÅÉ=pìãã~êóÛK

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

INCOME STATEMENT For the year ended 30 June 2008

In thousands of AUD Note oÉîÉåìÉÑêçãë~äÉçÑÖççÇë `çëíçÑë~äÉë<br>Gross profit<br>líÜÉêêÉîÉåìÉ<br>líÜÉêáåÅçãÉ<br>bãéäçóÉÉÄÉåÉÑáíëÉñéÉåëÉ<br>aÉéêÉÅá~íáçå~åÇ~ãçêíáë~íáçåÉñéÉåëÉë<br>lÅÅìé~åÅóÅçëíë<br>`çããìåáÅ~íáçåÅçëíë cêÉáÖÜí fãé~áêãÉåíIïêáíÉçÑÑ~åÇêÉëíêìÅíìêáåÖÅçëíë líÜÉêÉñéÉåëÉë Profit before financing costs cáå~åÅá~äáåÅçãÉ cáå~åÅá~äÉñéÉåëÉë Net financing costs Profit before tax fåÅçãÉí~ñÉñéÉåëÉ Profit from continuing operations for the year Discontinued operation mêçÑáíLEäçëëFÑêçãÇáëÅçåíáåìÉÇçéÉê~íáçåëEåÉíçÑáåÅçãÉí~ñF S Profit/(loss) for the year Attributable to: bèìáíóÜçäÇÉêëçÑíÜÉ`çãé~åó R jáåçêáíóáåíÉêÉëí Profit/(loss) for the year	Consolidated 2008 2007 QQUITVR QSUIPPM EOTPISTUF EOURIRPRF
	NTRINNT NUOITVR OIRSP OITPN SIUPP NOR ENMPITROF EVTIPQRF ERIPPTF ETINTOF ENMIVOMF ENMIRQPF EPIRTUF EPIMTTF ENMIQPTF EVIQQMF EPSRF EUITRTF EPUIPUVF EPRITSVF
	NNITPR NPIRQU
	PNP OQM ERIMRMF ERINVQF
	EQITPTF EQIVRQF
	SIVVU UIRVQ ENIQQPF EOIVTNF
	RIRRR RISOP
	NIPSS ESITURF SIVON ENINSOF
	SIROO ENIQMVF PVV OQT
	SIVON ENINSOF

Discussion and analysis of the Income Statement

For the year ended 30 June 2008

qÜÉ=dêçìéÛë=íçí~ä=êÉîÉåìÉ=Ñêçã=ë~äÉ=çÑ=ÖççÇëI=Ñêçã=áíë= ÅçåíáåìáåÖ=çéÉê~íáçåë=ÇÉÅäáåÉÇ=QKOB=íç=AQQUKU=ãáääáçåK==qÜÉ dêçìéÛë=íçí~ä=êÉîÉåìÉ=Ñçê=íÜÉ=óÉ~êI=áåÅäìÇáåÖ=ë~äÉë=Ñêçã=íÜÉ= ÇáëÅçåíáåìÉÇ=çéÉê~íáçåëI=áë=AQUOKU=ãáääáçåK==dêçìé=éêçÑáí=~ÑíÉê í~ñI=êÉíìêåÉÇ=íç=~=éêçÑáí=çÑ=ASKV=ãáääáçå=~ÑíÉê=íÜÉ=dêçìé êÉÅçêÇÉÇ=~=äçëë=~ÑíÉê=í~ñ=çÑ=ANKO=ãáääáçå=Ñçê=ä~ëí=óÉ~êK=eçïÉîÉê êÉëìäíë=áå=ÄçíÜ=óÉ~êë=ïÉêÉ=áå=~ÖÖêÉÖ~íÉ=~ÇîÉêëÉäó=~ÑÑÉÅíÉÇ=Äó ã~íÉêá~ääó=ëáÖåáÑáÅ~åí=áíÉãëI=~ë=ÇáëÅäçëÉÇ=áå=kçíÉ=Q=~åÇ=áå=íÜáë ÇáëÅìëëáçå=~åÇ=~å~äóëáëI=~ãçìåíáåÖ=íç=ANKM=ãáääáçå=áå=íÜÉ= ÅìêêÉåí=óÉ~ê=~åÇ=ANTKQ=ãáääáçå=áå=ä~ëí=óÉ~êK=

aÉí~áäë=çÑ=íÜÉ=êÉîÉåìÉ=~åÇ=êÉëìäíë=Äó=ëÉÖãÉåí=~êÉ=ëÜçïå=áå kçíÉ=P=Äìí=ÑìêíÜÉê=~å~äóëáë=áë=~ë=ÑçääçïëW Automotive parts distribution √ oÉîÉåìÉë=ÇÉÅäáåÉÇ=Äó=NSKQB=íç=AOMOKQ=ãáääáçåK=içëëÉë ÄÉÑçêÉ=áåíÉêÉëí=~åÇ=í~ñ=áåÅêÉ~ëÉÇ=Ñêçã=AUKO=ãáääáçå=áå=OMMT íç=ANVKS=ãáääáçå=áå=íÜÉ=ÅìêêÉåí=óÉ~êK=eçïÉîÉêI=êÉëìäíë=áå ÄçíÜ=óÉ~êë=ïÉêÉ=~ÇîÉêëÉäó=~ÑÑÉÅíÉÇ=Äó=ã~íÉêá~ääó=ëáÖåáÑáÅ~åí áíÉãë=~ë=ÇáëÅäçëÉÇ=áå=kçíÉ=PI=~ãçìåíáåÖ=íç=AUKP=ãáääáçå=áå íÜÉ=ÅìêêÉåí=óÉ~ê=~åÇ=AVKS=ãáääáçå=Ñçê=ä~ëí=óÉ~êK=qÜÉëÉ êÉëìäíë=~êÉ=~ííêáÄìí~ÄäÉ=íçW Ó páÖåáÑáÅ~åí=ÇÉÅäáåÉ=áå=íÜÉ=dêçìéÛë=êÉîÉåìÉ=~åÇ=êÉëìäíë Ñêçã=áíë=âÉó=ã~êâÉí=áå=tÉëíÉêå=^ìëíê~äá~K=qÜÉ= ÅçãÄáå~íáçå=EçîÉê=~=ëáñ=ãçåíÜ=éÉêáçÇF=çÑ=áåíêçÇìÅíáçå çÑ=~=åÉï=ÅçãéìíÉê=ëóëíÉãI=ãçîÉ=çÑ=áíë=~Çãáåáëíê~íáçåI ë~äÉë=~åÇ=ÇáëíêáÄìíáçå=ÅÉåíêÉ=~åÇ=êÉäçÅ~íáçå=çÑ=áíë= ï~êÉÜçìëáåÖ=~åÇ=ÇáëíêáÄìíáçå=çéÉê~íáçåë=Å~ìëÉÇ=ã~àçê ÄìëáåÉëë=ÇáëêìéíáçåK=qÜÉ=ÅçåëÉèìÉåí=áãé~Åí=çå=íÜÉ ÄìëáåÉëëÛë=~Äáäáíó=íç=ëÉêîáÅÉ=áíë=ÅìëíçãÉêë=êÉëìäíÉÇ=áå=~ ëáÖåáÑáÅ~åí=ÇÉÅäáåÉ=áå=êÉîÉåìÉëI=ïÜáÅÜ=ÅçãÄáåÉÇ=ïáíÜ áåÅêÉ~ëÉÇ=çéÉê~íáåÖ=Åçëíë=ÇìêáåÖ=íÜÉ=Çáëêìéíáçå=äÉÇ=íç ÇÉÅêÉ~ëÉÇ=éêçÑáí~ÄáäáíóK Ó dÉåÉê~ä=áãéêçîÉãÉåí=ï~ë=ëÜçïå=áå=íÜÉ=ÄìëáåÉëëÛë çéÉê~íáçåë=áå=pçìíÜ=^ìëíê~äá~K Ó fí=ï~ë=ÇÉíÉêãáåÉÇ=íç=Éñáí=Ñêçã=íÜÉ=dêçìéÛë=ìåÇÉê= éÉêÑçêãáåÖ=ÄìëáåÉëëÉë=áå=nìÉÉåëä~åÇ=~åÇ=íÜÉ=kçêíÜÉêå íÉêêáíçêóK=qÜÉ=ë~äÉë=çÑ=íÜÉëÉ=ÄìëáåÉëëÉë=ïÉêÉ=ÅçãéäÉíÉÇ áå=gìåÉ=OMMU=~åÇ=íÜÉ=êÉëìäí=Ñêçã=íÜçëÉ=ÄìëáåÉëëÉë=~åÇ íÜÉ=ë~äÉë=íÜÉêÉçÑ=~êÉ=ëÜçïå=áå=kçíÉ=SK

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

INCOME STATEMENT (CONTINUED) For the year ended 30 June 2008

In thousands of AUD Note Earnings per share: ~ëáÅÉ~êåáåÖëLEäçëëFéÉêëÜ~êÉ aáäìíÉÇÉ~êåáåÖëLEäçëëFéÉêëÜ~êÉ Continuing operations ~ëáÅÉ~êåáåÖëéÉêëÜ~êÉ aáäìíÉÇÉ~êåáåÖëéÉêëÜ~êÉ	Consolidated 2008 2007 NSKSÅÉåíë EPKUFÅÉåíë
	NSKOÅÉåíë EPKTFÅÉåíë
	NPKNÅÉåíë NQKPÅÉåíë
	NOKUÅÉåíë NQKPÅÉåíë

qÜÉ=åçíÉë=çå=é~ÖÉë=QU=íç=RS=~êÉ=~å=áåíÉÖê~ä=é~êí=çÑ=íÜÉëÉ=ÅçåëçäáÇ~íÉÇ=Ñáå~åÅá~ä=ëí~íÉãÉåíëK

Discussion and analysis of the Income Statement (continued)

Industrial products distribution

√ oÉîÉåìÉë=áåÅêÉ~ëÉÇ=Äó=RKRB=íç=AOTOKT=ãáääáçåK=mêçÑáí ÄÉÑçêÉ=í~ñ=ÇÉÅäáåÉÇ=UKRB=íç=AOMKV=ãáääáçåK=qÜÉëÉ=êÉëìäíë ~êÉ=~ííêáÄìí~ÄäÉ=íçW
Ó qÜÉ=c~ëíÉåÉêë=ÄìëáåÉëë=ìåáí=ÇáÇ=ëÜçï=ëáÖåë=çÑ=ÇÉÅäáåÉ=áå ÄçíÜ=êÉîÉåìÉë=~åÇ=éêçÑáí~ÄáäáíóK=dÉåÉê~ääó=êÉëìäíë=áå=íÜÉ ãçêÉ=êÉëçìêÅÉ=êÉä~íÉÇ=ëí~íÉë=çÑ=tÉëíÉêå=^ìëíê~äá~=~åÇ nìÉÉåëä~åÇ=ïÉêÉ=ëíêçåÖÉê=ïÜáäëí=íÜÉ=b~ëíÉêå=ëí~íÉëÒ ïáíÜ=ÜáÖÜÉê=êÉäá~åÅÉ=çå=ã~åìÑ~ÅíìêáåÖ=~åÇ=ÅçåëíêìÅíáçå ïÉêÉ=ïÉ~âÉêK==qÜÉ=ÄìëáåÉëë=áå=kÉï=wÉ~ä~åÇ=ÖÉåÉê~ääó éÉêÑçêãÉÇ=ïÉää=ÖáîÉå=íÜÉ=ÖÉåÉê~ä=ïÉ~âåÉëë=áå=íÜÉ ÉÅçåçãóK
Ó qÜÉ=`ççéÉê=cäìáÇë=ÄìëáåÉëë=ìåáí=éÉêÑçêãÉÇ=ëíêçåÖäóK qÜÉ=ÄìëáåÉëë=Ü~ë=~=ÜáÖÜ=Äá~ë=íç=êÉëçìêÅÉ=~ÅíáîáíáÉë=~åÇ íÜÉ=éêáåÅáé~ä=~êÉ~ë=çÑ=~Åíáîáíó=~êÉ=áå=tÉëíÉêå=^ìëíê~äá~ ~åÇ=nìÉÉåëä~åÇK=aìêáåÖ=íÜÉ=óÉ~ê=íÜÉ=ÄìëáåÉëë=Éñé~åÇÉÇ ~ÅíáîáíáÉë=áåíç=pçìíÜ=^ìëíê~äá~=~åÇ=sáÅíçêá~K
Ó qÜÉ=`~ÄáåÉí=e~êÇï~êÉ=cìêåáíìêÉ=ÄìëáåÉëë=ìåáí=éÉêÑçêãÉÇ éççêäó=ÄçíÜ=áå=^ìëíê~äá~=~åÇ=áíë=ëã~ää=çéÉê~íáçå=áå=kÉï wÉ~ä~åÇK=qÜÉ=ÄìëáåÉëë=Ü~ë=ê~íáçå~äáëÉÇ=áíë=~ÅíáîáíáÉë ìåÇÉê=íÜÉ=^êíá~=Äê~åÇ=áå=íÜÉ=ä~ííÉê=é~êí=çÑ=íÜÉ=óÉ~êK

Gaskets manufacturing

√ oÉîÉåìÉë=áåÅêÉ~ëÉÇ=Äó=PKUB=íç=ANNKS=ãáääáçåK=mêçÑáí=ÄÉÑçêÉ í~ñ=áåÅêÉ~ëÉÇ=SPKVB=íç=AOKM=ãáääáçåK=qÜÉëÉ=êÉëìäíë=~êÉ ~ííêáÄìí~ÄäÉ=íçW Ó qÜÉ=ÄìëáåÉëë=ìåáíë=éÉêÑçêãÉÇ=ëíêçåÖäó=ÄçíÜ=áå=^ìëíê~äá~ ~åÇ=áå=kÉï=wÉ~ä~åÇK=qÜÉ=ÄìëáåÉëë=ëìééäáÉë=íÜÉ= ~ìíçãçíáîÉ=~ÑíÉê=ã~êâÉí=Ñêçã=áíë=ã~åìÑ~ÅíìêÉÇ=~åÇ áãéçêíÉÇ=éêçÇìÅí=ê~åÖÉK
Bitumen Products
√ qÜÉ=_áíìãÉå=éêçÇìÅíë=ÄìëáåÉëë=ìåáí=ï~ë=ëçäÇ=áå=gìåÉ=OMMT ~åÇ=íÜÉ=Åçëíë=êÉÅçêÇÉÇ=áå=íÜÉ=ÅìêêÉåí=óÉ~ê=~êÉ=áå=êÉëéÉÅí=çÑ ~ÇÇáíáçå~ä=éêçîáëáçåáåÖ=êÉèìáêÉÇ=áå=êÉëéÉÅí=çÑ=êÉÅÉáî~ÄäÉë áãé~áêãÉåíK=qÜÉ=ä~åÇ=~ëëçÅá~íÉÇ=ïáíÜ=íÜáë=ÇáëÅçåíáåìÉÇ çéÉê~íáçå=ï~ë=ëçäÇ=áå=gìåÉ=OMMU=~åÇ=êÉ~äáëÉÇ=~=åÉí=Ö~áå=çÑ ATKM=ãáääáçå=~ë=ÇáëÅäçëÉÇ=áå=kçíÉ=QK
qÜÉ=ÉÑÑÉÅíáîÉ=í~ñ=ê~íÉ=êÉÇìÅÉÇ=Ñêçã=PQKSB=áå=OMMT=íç=OMKSB Ñçê=OMMU=ÄÉÅ~ìëÉ=çÑ=íÜÉ=êÉÅçÖåáíáçå=çÑ=Å~êêó=Ñçêï~êÇ=í~ñ=äçëëÉëK qÜÉ=Ä~ëáÅ=É~êåáåÖë=éÉê=ëÜ~êÉ=êÉíìêåÉÇ=íç=~=éçëáíáîÉ=NSKS=ÅÉåíë éÉê=ëÜ~êÉ=Äìí=áí=Ü~ë=ÄÉÉå=ÇÉíÉêãáåÉÇ=íÜ~í=åç=ÇáîáÇÉåÇ=ïáää=ÄÉ ÇÉÅä~êÉÇ=áå=êÉëéÉÅí=çÑ=íÜÉ=ÅìêêÉåí=óÉ~êK

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

BALANCE SHEET As at 30 June 2008

In thousands of AUD Note Assets `~ëÜ~åÇÅ~ëÜÉèìáî~äÉåíë qê~ÇÉ~åÇçíÜÉêêÉÅÉáî~ÄäÉë fåîÉåíçêáÉë fåÅçãÉí~ñêÉÅÉáî~ÄäÉ Total current assets fåîÉëíãÉåíë aÉÑÉêêÉÇí~ñ~ëëÉíë mêçéÉêíóIéä~åí~åÇÉèìáéãÉåí fåí~åÖáÄäÉ~ëëÉíë aÉêáî~íáîÉë~ëëÉí Total non-current assets Total assets Liabilities qê~ÇÉ~åÇçíÜÉêé~ó~ÄäÉë fåíÉêÉëíJÄÉ~êáåÖäç~åë~åÇÄçêêçïáåÖë bãéäçóÉÉÄÉåÉÑáíë fåÅçãÉí~ñé~ó~ÄäÉ mêçîáëáçåë Total current liabilities fåíÉêÉëíJÄÉ~êáåÖäç~åë~åÇÄçêêçïáåÖë bãéäçóÉÉÄÉåÉÑáíë Total non-current liabilities Total liabilities Net assets	Consolidated 2008 2007 PIOVQ OIPRS UTIPRN UTIVUO VSISSS NMRIPRQ OIQNT NIMUO
	NUVITOU NVSITTQ
	J J NQISPU NMIMQO PRITVR QVIOUV QOISTU QMIRRM NIOTN VNQ
	VQIPUO NMMITVR
	OUQINNM OVTIRSV
	QSIRSQ PSIVTT QVIMRP RINSQ NMIUUN NMIVQQ ORN J OINTT RTO
	NMUIVOS RPISRT
	J TOITNV OIOVO PINNM
	OIOVO TRIUOV
	NNNIONU NOVIQUS
	NTOIUVO NSUIMUP

Discussion and analysis of the Balance Sheet For the year ended 30 June 2008 qÜÉ=dêçìéÛë=åÉí=~ëëÉíë=áåÅêÉ~ëÉÇ=Äó=OKUB=íç=ANTOKV=ãáääáçåK qÜÉ=dêçìéÛë=íçí~ä=~ëëÉíë=ÇÉÅêÉ~ëÉÇ=Äó=QKRB=EANPKR=ãáääáçåF=íç AOUQKN=ãáääáçå=çîÉê=íÜÉ=ÅìêêÉåí=óÉ~êK qÜÉ=ÇÉÅêÉ~ëÉ=áå=íçí~ä=~ëëÉíë=áë=éêáåÅáé~ääó=ÅçãéêáëÉÇ=ÄóW √ ^=êÉÇìÅíáçå=áå=áåîÉåíçêáÉë=çÑ=AUKT=ãáääáçå=EUKOBFK=ARKR= ãáääáçå=çÑ=íÜáë=ÑáÖìêÉ=áë=áå=êÉëéÉÅí=çÑ=áåîÉåíçêáÉë=êÉ~äáëÉÇ Ñêçã=íÜÉ=ë~äÉ=çÑ=íÜÉ=~ìíçãçíáîÉ=é~êíë=ÄìëáåÉëëÉë=áå nìÉÉåëä~åÇ=~åÇ=íÜÉ=kçêíÜÉêå=qÉêêáíçêó=EëÉÉ=kçíÉ=SFK=qÜÉ dêçìé=~äëç=áåÅêÉ~ëÉÇ=íÜÉ=áãé~áêãÉåí=éêçîáëáçå=áå=êÉëéÉÅí çÑ=áåîÉåíçêáÉë=Äó=AQKO=ãáääáçå=EëÉÉ=kçíÉ=QFK
√ ^=êÉÇìÅíáçå=áå=éêçéÉêíóI=éä~åí=~åÇ=ÉèìáéãÉåí=çÑ=ANPKR ãáääáçåI=AMKV=ãáääáçå=çÑ=íÜáë=ÑáÖìêÉ=áë=áå=êÉëéÉÅí=çÑ=éêçéÉêíóI éä~åí=~åÇ=ÉèìáéãÉåí=êÉ~äáëÉÇ=Ñêçã=íÜÉ=ë~äÉ=çÑ=íÜÉ= ~ìíçãçíáîÉ=é~êíë=ÄìëáåÉëëÉë=áå=nìÉÉåëä~åÇ=~åÇ=íÜÉ kçêíÜÉêå=íÉêêáíçêó=EëÉÉ=kçíÉ=SFK=qÜÉ=dêçìé=~äëç= ÇÉíÉêãáåÉÇ=íÜ~í=áí=ïçìäÇ=~ÑÑÉÅí=~=ë~äÉ=~åÇ=äÉ~ëÉ=Ä~Åâ=çÑ=áíë ãçíçê=îÉÜáÅäÉ=ÑäÉÉíK=qÜáë=íê~åë~Åíáçå=ï~ë=ÅçãéäÉíÉÇ=áå j~êÅÜ=OMMU=~åÇ=êÉÇìÅÉÇ=éêçéÉêíóI=éä~åí=~åÇ=ÉèìáéãÉåí Äó=AUKQ=ãáääáçåK=^ÇÇáíáçå~ääó=ëìêéäìë=ä~åÇ=~åÇ=çíÜÉê= éêçéÉêíó=ïÉêÉ=ëçäÇ=ÇìêáåÖ=íÜÉ=óÉ~ê=áåÅäìÇáåÖ=íÜÉ=ë~äÉ ìåÇÉê=kçíÉ=QK
aÉÑÉêêÉÇ=í~ñ=~ëëÉíë=áåÅêÉ~ëÉÇ=Äó=AQKS=ãáääáçå=íç=ANQKS= ãáääáçå=ä~êÖÉäó=~ë=~=êÉëìäí=çÑ=Å~êêó=Ñçêï~êÇ=êÉîÉåìÉ=~åÇ= Å~éáí~ä=í~ñ=äçëëÉëK
√
√ fåí~åÖáÄäÉ=~ëëÉíë=áåÅêÉ~ëÉÇ=Äó=AOKN=ãáääáçå=íç=AQOKT=ãáääáçå ä~êÖÉäó=ÇìÉ=íç=ÅçåíáåìáåÖ=ÉñéÉåÇáíìêÉ=çå=áåÑçêã~íáçå= íÉÅÜåçäçÖó=ëóëíÉãëK

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

BALANCE SHEET (CONTINUED) As at 30 June 2008

In thousands of AUD Note Equity fëëìÉÇÅ~éáí~ä R oÉëÉêîÉë R oÉí~áåÉÇÉ~êåáåÖë R Total equity attributable to equity holders of the Company Minority interest Total equity	Consolidated 2008 2007 NNOISTS NNOISTS OPIRUO OQISST PPIVTT OTIVUQ
	NTMIOPR NSRIPOT OISRT OITRS
	NTOIUVO NSUIMUP

qÜÉ=åçíÉë=çå=é~ÖÉë=QU=íç=RS=~êÉ=~å=áåíÉÖê~ä=é~êí=çÑ=íÜÉëÉ=ÅçåëçäáÇ~íÉÇ=Ñáå~åÅá~ä=ëí~íÉãÉåíëK

Discussion and analysis of the Balance Sheet (continued)

`ìêêÉåí=äá~ÄáäáíáÉë=áåÅêÉ~ëÉÇ=Äó=ARRKP=ãáääáçå=íç=ANMUKV=ãáääáçå ÇìÉ=íç=~å=áåÅêÉ~ëÉ=áå=íê~ÇÉ=é~ó~ÄäÉë=çÑ=ASKU=ãáääáçåX=~å áåÅêÉ~ëÉ=áå=~ÅÅêìÉÇ=ÉñéÉåëÉë=çÑ=AOKU=ãáääáçåX=~å=áåÅêÉ~ëÉ=áå= éêçîáëáçåë=çÑ=ANKS=ãáääáçå=ïÜáäëí=ëÜçêí=íÉêã=ÄçêêçïáåÖë=çÑ=ARKO ãáääáçå=ïÉêÉ=êÉé~áÇK==^ë=íÜÉ=^ìëíê~äá~å=^ÅÅçìåíáåÖ=pí~åÇ~êÇë êÉèìáêÉ=íÜ~í=áÑ=~=ÄçêêçïÉê=ÇçÉë=åçí=Ü~îÉ=~å=ìåÅçåÇáíáçå~ä êáÖÜí=íç=ÇÉÑÉê=êÉé~óãÉåí=ÄÉóçåÇ=NO=ãçåíÜë=Ñêçã=Ä~ä~åÅÉ Ç~íÉI=íÜÉ=ÉåíáêÉ=Çê~ï=Ççïå=Ñ~Åáäáíó=~í=PM=gìåÉ=OMMU=EAQVKN ãáääáçåF=Ü~ë=ÄÉÉå=Åä~ëëáÑáÉÇ=~ë=~=ÅìêêÉåí=äá~ÄáäáíóK==pìÄëÉèìÉåí íç=Ä~ä~åÅÉ=Ç~íÉI=íÜÉ=Ä~åâ=Ü~ë=ÅçåÑáêãÉÇ=íÜ~í=áí=ïáää=åçí êÉèìáêÉ=é~óãÉåí=çÑ=íÜáë=Ñ~Åáäáíó=~í=~=íáãÉ=É~êäáÉê=íÜ~å=T=gìäó OMMVK

kçåJÅìêêÉåí=äá~ÄáäáíáÉë=ÇÉÅêÉ~ëÉÇ=Äó=ATPKR=ãáääáçå=íç=AOKP= ãáääáçå=ÇìÉ=íç=íÜÉ=êÉé~óãÉåí=çÑ=AOPKO=ãáääáçå=çÑ=íÜÉ=Äáää ~ÅÅÉéí~åÅÉ=Ñ~Åáäáíó=~åÇ=íÜÉ=êÉÅä~ëëáÑáÅ~íáçå=çÑ=íÜÉ=êÉã~áåáåÖ Çê~ïå=Ñ~Åáäáíó=~åÇ=~=ÇÉÅêÉ~ëÉ=áå=åçåJÅìêêÉåí=ÉãéäçóÉÉ= ÉåíáíäÉãÉåíë=çÑ=AMKU=ãáääáçåK

fëëìÉÇ=Å~éáí~ä=~í=ANNOKT=ãáääáçå=êÉã~áåÉÇ=ìåÅÜ~åÖÉÇK

qçí~ä=Éèìáíó=áåÅêÉ~ëÉÇ=Äó=AQKV=ãáääáçå=íç=ARTKS=ãáääáçå=ã~áåäó ~ë=~=êÉëìäí=çÑ=~å=áåÅêÉ~ëÉ=áå=êÉí~áåÉÇ=É~êåáåÖëI=ãçîÉãÉåíë=áå ÑçêÉáÖå=ÅìêêÉåÅó=íê~åëä~íáçå=êÉëÉêîÉ=~åÇ=ãáåçêáíó=áåíÉêÉëíëK

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

STATEMENT OF CHANGES IN EQUITY For the year ended 30 June 2008

In thousands of AUD Note Total equity at the beginning of the financial year `Ü~åÖÉëáåíÜÉÑ~áêî~äìÉçÑÅ~ëÜÑäçïÜÉÇÖÉë<br>bñÅÜ~åÖÉÇáÑÑÉêÉåÅÉëçåíê~åëä~íáçåçÑÑçêÉáÖåçéÉê~íáçåë<br>Net income recognised directly in equity<br>Profit/(loss) for the year<br>Total recognised income and expense for the year<br>R<br>Transactions with equity holders in their capacity<br>as equity holders<br>`çåíêáÄìíáçåçÑÉèìáíó `Ü~åÖÉëáåî~äìÉçÑëÜ~êÉÄ~ëÉÇé~óãÉåíëêÉëÉêîÉ<br>aáîáÇÉåÇëéêçîáÇÉÇÑçêçêé~áÇ<br>aáîáÇÉåÇëé~áÇíçãáåçêáíóáåíÉêÉëíëáåÅçåíêçääÉÇÉåíáíáÉë<br>Total equity at the end of the financial year<br>R<br>qçí~äêÉÅçÖåáëÉÇáåÅçãÉ~åÇÉñéÉåëÉÑçêíÜÉóÉ~êáë~ííêáÄìí~ÄäÉíçW<br>bèìáíóÜçäÇÉêëçÑíÜÉ`çãé~åó jáåçêáíóáåíÉêÉëí	Consolidated 2008 2007 NSUIMUP NSSIQOR
	OSP QVN EOIMMOF NIPPN
	ENITPVF NIUOO SIVON ENINSOF
	RINUO SSM
	J NPIUMP RP RR J ENOIQUVF EQOSF EPTNF
	EPTPF VVU
	NTOIUVO NSUIMUP
	QIURR PSV POT OVN
	RINUO SSM

Discussion and analysis of the Statement of Changes in Equity

For the year ended 30 June 2008

qÜÉêÉ=ïÉêÉ=åç=ëáÖåáÑáÅ~åí=ÅÜ~åÖÉë=áå=Éèìáíó=Ñçê=íÜÉ=óÉ~ê=çíÜÉê íÜ~å=~ë=ÇÉëÅêáÄÉÇ=Ñìääó=áå=íÜÉ=ëí~íÉãÉåíëK

qÜÉ=åçíÉë=çå=é~ÖÉë=QU=íç=RS=~êÉ=~å=áåíÉÖê~ä=é~êí=çÑ=íÜÉëÉ=ÅçåëçäáÇ~íÉÇ=Ñáå~åÅá~ä=ëí~íÉãÉåíëK

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

STATEMENT OF CASH FLOWS

For the year ended 30 June 2008

Consolidated

In thousands of AUD Note Cash flows from operating activities `~ëÜêÉÅÉáéíëÑêçãÅìëíçãÉêë<br>`~ëÜé~áÇíçëìééäáÉêë~åÇÉãéäçóÉÉë ~ëÜÖÉåÉê~íÉÇÑêçãçéÉê~íáçåë<br>fåíÉêÉëíé~áÇ<br>fåÅçãÉí~ñÉëé~áÇ<br>Net cash from operating activities<br>Cash flows from investing activities<br>mêçÅÉÉÇëÑêçãë~äÉçÑéêçéÉêíóIéä~åí~åÇÉèìáéãÉåí<br>mêçÅÉÉÇëÑêçãë~äÉçÑÄìëáåÉëë<br>fåíÉêÉëíêÉÅÉáîÉÇ<br>aáîáÇÉåÇëêÉÅÉáîÉÇ<br>^ÅèìáëáíáçåçÑÄìëáåÉëëIåÉíçÑÅ~ëÜ~ÅèìáêÉÇ<br>^ÅèìáëáíáçåçÑéêçéÉêíóIéä~åí~åÇÉèìáéãÉåí<br>^ÅèìáëáíáçåçÑáåí~åÖáÄäÉ~ëëÉíë<br>iç~åëíçÅçåíêçääÉÇÉåíáíáÉë<br>Net cash from (used in) investing activities<br>Cash flows from financing activities<br>mêçÅÉÉÇëÑêçãÄçêêçïáåÖë<br>oÉé~óãÉåíçÑÄçêêçïáåÖë<br>fëëìÉçÑëÜ~êÉë<br>aáîáÇÉåÇëé~áÇ<br>aáîáÇÉåÇëé~áÇíççìíëáÇÉÉèìáíóáåíÉêÉëíë<br>R<br>Net cash used in financing activities<br>kÉíáåÅêÉ~ëÉáåÅ~ëÜ~åÇÅ~ëÜÉèìáî~äÉåíë<br>~ëÜ~åÇÅ~ëÜÉèìáî~äÉåíë~íNgìäó Cash and cash equivalents at 30 June	2008 2007 RQTIRVT RUVIUQV EROVIOPNF ERSVIQSOF
	NUIPSS OMIPUT EQINRPF ERINSPF EOIQQTF ERIOQRF
	NNITSS VIVTV
	NUINTV NIPSR UINNQ TIQQM PNP OQM J J ETNOF EQNUF EPIOVRF ENNIMTSF ERIMPQF ETIRRVF J J
	NTIRSR ENMIMMUF
	NPIMMM SIMMM EPSINVUF ENMIORQF J VIQRO J EUINPUF EQOSF EPTNF
	EOPISOQF EPIPNNF
	RITMT EPIPQMF EOIQNPF VOT
	PIOVQ EOIQNPF

Discussion and analysis of the Statement of Cash Flows

For the year ended 30 June 2008

`~ëÜ=Ñäçïë=Ñêçã=çéÉê~íáåÖ=~ÅíáîáíáÉë=áåÅêÉ~ëÉÇ=Äó=ANKU=ãáääáçå íç=ANNKU=ãáääáçå=ã~áåäó=ÇìÉ=íç=ÇÉÅêÉ~ëÉÇ=í~ñ~íáçå=çÑ=AOKU= ãáääáçå=ÇìÉ=íç=êÉÇìÅÉÇ=éêçÑáí=äÉîÉäë=~åÇ=~äëç=êÉÇìÅÉÇ=áåíÉêÉëí é~áÇ=çÑ=ANKM=ãáääáçå=Ñêçã=êÉÇìÅÉÇ=ÇÉÄí=äÉîÉäëK==^=êÉÅçåÅáäá~íáçå çÑ=Å~ëÜ=Ñäçïë=Ñêçã=çéÉê~íáåÖ=~ÅíáîáíáÉë=áë=ëÜçïå=áå=íÜÉ=Ñìää Ñáå~åÅá~ä=ëí~íÉãÉåíëK==

`~ëÜ=Ñäçïë=Ñêçã=áåîÉëíáåÖ=~ÅíáîáíáÉë=~êÉ=ÉîáÇÉåí=Ñêçã=íÜÉ=Å~ëÜ Ñäçï=ëí~íÉãÉåíë=~åÇ=êÉä~íÉë=ä~êÖÉäó=íç=~Åèìáëáíáçå=çê=Çáëéçë~ä=çÑ ÄìëáåÉëëÉë=çê=éêçéÉêíóI=éä~åí=~åÇ=ÉèìáéãÉåíK

`~ëÜ=Ñäçïë=Ñêçã=Ñáå~åÅáåÖ=~ÅíáîáíáÉë=~êÉ=ÉîáÇÉåí=Ñêçã=íÜÉ=Å~ëÜ Ñäçï=ëí~íÉãÉåíë=~åÇ=êÉä~íÉë=ä~êÖÉäó=íç=åÉí=êÉé~óãÉåí=çÑ= ÄçêêçïáåÖë=~åÇ=ÇáîáÇÉåÇë=é~áÇ=íç=ãáåçêáíó=áåíÉêÉëíëK

qÜÉ=åçíÉë=çå=é~ÖÉë=QU=íç=RS=~êÉ=~å=áåíÉÖê~ä=é~êí=çÑ=íÜÉëÉ=ÅçåëçäáÇ~íÉÇ=Ñáå~åÅá~ä=ëí~íÉãÉåíëK

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 30 June 2008

1. Basis of preparation of concise financial report

qÜÉ=Ñáå~åÅá~ä=êÉéçêí=áë=éêÉé~êÉÇ=çå=íÜÉ=ÜáëíçêáÅ~ä=Åçëí=Ä~ëáë=ÉñÅÉéí=íÜ~í=íÜÉ=ÑçääçïáåÖ=~ëëÉíë=~åÇ=äá~ÄáäáíáÉë=~êÉ=ëí~íÉÇ=~í=íÜÉáê=Ñ~áê=î~äìÉW=ÇÉêáî~íáîÉ=Ñáå~åÅá~ä=áåëíêìãÉåíëI=Ñáå~åÅá~ä= áåëíêìãÉåíë=~í=Ñ~áê=î~äìÉ=íÜêçìÖÜ=éêçÑáí=çê=äçëë=~åÇ=äá~ÄáäáíáÉë=Ñçê=Å~ëÜ=ëÉííäÉÇ=ëÜ~êÉ=Ä~ëÉÇ=é~óãÉåí=~êê~åÖÉãÉåíëK

^=Ñìää=ÇÉëÅêáéíáçå=çÑ=íÜÉ=~ÅÅçìåíáåÖ=éçäáÅáÉë=~ÇçéíÉÇ=Äó=íÜÉ=dêçìé=ã~ó=ÄÉ=ÑçìåÇ=áå=íÜÉ=dêçìéÛë=Ñìää=Ñáå~åÅá~ä=êÉéçêíK

qÜÉëÉ=~ÅÅçìåíáåÖ=éçäáÅáÉë=Ü~îÉ=ÄÉÉå=~ééäáÉÇ=ÅçåëáëíÉåíäó=íç=~ää=éÉêáçÇë=éêÉëÉåíÉÇ=áå=íÜÉ=ÅçåëçäáÇ~íÉÇ=Ñáå~åÅá~ä=ëí~íÉãÉåíëI=~åÇ=Ü~îÉ=ÄÉÉå=~ééäáÉÇ=ÅçåëáëíÉåíäó=Äó=É~ÅÜ=Éåíáíó=áå=íÜÉ dêçìéK

qÜÉ=éêÉëÉåí~íáçå=ÅìêêÉåÅó=áë=^ìëíê~äá~å=Ççää~êëK

2. Accounting estimates and judgements

qÜÉ=éêÉé~ê~íáçå=çÑ=Ñáå~åÅá~ä=ëí~íÉãÉåíë=êÉèìáêÉë=ã~å~ÖÉãÉåí=íç=ã~âÉ=àìÇÖÉãÉåíëI=Éëíáã~íÉë=~åÇ=~ëëìãéíáçåë=íÜ~í=~ÑÑÉÅí=íÜÉ=~ééäáÅ~íáçå=çÑ=~ÅÅçìåíáåÖ=éçäáÅáÉë=~åÇ=íÜÉ=êÉéçêíÉÇ ~ãçìåíë=çÑ=~ëëÉíëI=äá~ÄáäáíáÉëI=áåÅçãÉ=~åÇ=ÉñéÉåëÉëK=^Åíì~ä=êÉëìäíë=ã~ó=ÇáÑÑÉê=Ñêçã=íÜÉëÉ=Éëíáã~íÉëK=bëíáã~íÉë=~åÇ=ìåÇÉêäóáåÖ=~ëëìãéíáçåë=~êÉ=êÉîáÉïÉÇ=çå=~å=çåÖçáåÖ=Ä~ëáëK=oÉîáëáçåë=íç ~ÅÅçìåíáåÖ=Éëíáã~íÉë=~êÉ=êÉÅçÖåáëÉÇ=áå=íÜÉ=éÉêáçÇ=áå=ïÜáÅÜ=íÜÉ=Éëíáã~íÉ=áë=êÉîáëÉÇ=~åÇ=áå=~åó=ÑìíìêÉ=éÉêáçÇë=~ÑÑÉÅíÉÇK

j~å~ÖÉãÉåí=ÇáëÅìëëÉÇ=~åÇ=~ÖêÉÉÇ=ïáíÜ=íÜÉ=^ìÇáí=C=oáëâ=`çããáííÉÉ=íÜÉ=ÇÉîÉäçéãÉåíI=ëÉäÉÅíáçå=~åÇ=ÇáëÅäçëìêÉ=çÑ=íÜÉ=dêçìéÛë=ÅêáíáÅ~ä=~ÅÅçìåíáåÖ=éçäáÅáÉë=~åÇ=Éëíáã~íÉë=~åÇ=íÜÉ= ~ééäáÅ~íáçå=çÑ=íÜÉëÉ=éçäáÅáÉë=~åÇ=Éëíáã~íÉëK=få=é~êíáÅìä~êI=áåÑçêã~íáçå=~Äçìí=ëáÖåáÑáÅ~åí=~êÉ~ë=çÑ=Éëíáã~íáçå=ìåÅÉêí~áåíó=~åÇ=ÅêáíáÅ~ä=àìÇÖÉãÉåíë=áå=~ééäóáåÖ=~ÅÅçìåíáåÖ=éçäáÅáÉë=íÜ~í=Ü~îÉ íÜÉ=ãçëí=ëáÖåáÑáÅ~åí=~ÑÑÉÅí=çå=íÜÉ=~ãçìåí=êÉÅçÖåáëÉÇ=áå=íÜÉ=Ñáå~åÅá~ä=ëí~íÉãÉåíë=~êÉ=ÇÉëÅêáÄÉÇ=áå=íÜÉ=ÑçääçïáåÖ=åçíÉë=çÑ=íÜÉ=Ñìää=Ñáå~åÅá~ä=ëí~íÉãÉåíëW

√ kçíÉ=NO=Ó=~ääçï~åÅÉ=Ñçê=áåîÉåíçêó=áãé~áêãÉåí=äçëëÉë
√ kçíÉ=NR=Ó=ìíáäáë~íáçå=çÑ=í~ñ=äçëëÉë
√ kçíÉ=NT=Ó=ãÉ~ëìêÉãÉåí=çÑ=íÜÉ=êÉÅçîÉê~ÄäÉ=~ãçìåí=çÑ=Å~ëÜ=ÖÉåÉê~íáåÖ=ìåáíë=Åçåí~áåáåÖ=ÖççÇïáää
√ kçíÉ=OQ=Ó=~ääçï~åÅÉ=Ñçê=íê~ÇÉ=êÉÅÉáî~ÄäÉ=áãé~áêãÉåí=äçëëÉë

Change in estimates

aìêáåÖ=íÜÉ=óÉ~ê=ÉåÇÉÇ=PM=gìåÉ=OMMU=íÜÉ=dêçìé=ÅçåÇìÅíÉÇ=~å=çéÉê~íáçå~ä=ÉÑÑáÅáÉåÅó=êÉîáÉï=çÑ=áíë=`çãé~åóJïáÇÉ=áåÑçêã~íáçå=ëóëíÉãI=ïÜáÅÜ=êÉëìäíÉÇ=áå=ÅÜ~åÖÉë=áå=áíë=ÉñéÉÅíÉÇ=ìë~ÖÉK ^ë=~=êÉëìäí=íÜÉ=Éëíáã~íÉÇ=ìëÉÑìä=äáÑÉ=çÑ=íÜáë=~ëëÉí=ï~ë=ÉñíÉåÇÉÇ=íç=NO=óÉ~êëK=

qÜÉ=ÉÑÑÉÅí=çÑ=íÜÉëÉ=ÅÜ~åÖÉë=çå=ÇÉéêÉÅá~íáçå=ÉñéÉåëÉI=êÉÅçÖåáëÉÇ=áå=éêçÑáí=çê=äçëëI=áå=ÅìêêÉåí=~åÇ=ÑìíìêÉ=éÉêáçÇë=áë=~ë=ÑçääçïëW

In thousands of AUD 2008 2009 2010 2011 2012 Later aÉÅêÉ~ëÉLEáåÅêÉ~ëÉF=áå=ÇÉéêÉÅá~íáçå QPV VUR VUR VUR VUR EQIPTTF

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) For the year ended 30 June 2008

3. Segment reporting

pÉÖãÉåí=áåÑçêã~íáçå=áë=éêÉëÉåíÉÇ=áå=êÉëéÉÅí=çÑ=íÜÉ=dêçìéÛë=ÄìëáåÉëë=ëÉÖãÉåíëK==qÜÉ=Ñçêã~í=áë=ÅçåëáëíÉåí=ïáíÜ=íÜÉ=dêçìéÛë=ã~å~ÖÉãÉåí=~åÇ=áåíÉêå~ä=êÉéçêíáåÖ=ëíêìÅíìêÉK

fåíÉê=ëÉÖãÉåí=éêáÅáåÖ=áë=ÇÉíÉêãáåÉÇ=çå=~å=~êãÛë=äÉåÖíÜ=Ä~ëáëK

pÉÖãÉåí=êÉëìäíëI=~ëëÉíë=~åÇ=äá~ÄáäáíáÉë=áåÅäìÇÉ=áíÉãë=ÇáêÉÅíäó=~ííêáÄìí~ÄäÉ=íç=~=ëÉÖãÉåí=~ë=ïÉää=~ë=íÜçëÉ=íÜ~í=Å~å=ÄÉ=~ääçÅ~íÉÇ=çå=~=êÉ~ëçå~ÄäÉ=Ä~ëáëK==rå~ääçÅ~íÉÇ=áíÉãë=ÅçãéêáëÉ=ã~áåäó áåÅçãÉ=É~êåáåÖ=~ëëÉíë=~åÇ=êÉîÉåìÉI=áåíÉêÉëí=ÄÉ~êáåÖ=äç~åëI=ÄçêêçïáåÖë=~åÇ=ÉñéÉåëÉëI=~åÇ=Åçêéçê~íÉ=~ëëÉíë=~åÇ=ÉñéÉåëÉëK

pÉÖãÉåí=Å~éáí~ä=ÉñéÉåÇáíìêÉ=áë=íÜÉ=íçí~ä=Åçëí=áåÅìêêÉÇ=ÇìêáåÖ=íÜÉ=éÉêáçÇ=íç=~ÅèìáêÉ=ëÉÖãÉåí=~ëëÉíë=íÜ~í=~êÉ=ÉñéÉÅíÉÇ=íç=ÄÉ=ìëÉÇ=Ñçê=ãçêÉ=íÜ~å=çåÉ=éÉêáçÇK

Business segments

qÜÉ=dêçìé=ÅçãéêáëÉë=íÜÉ=ÑçääçïáåÖ=ã~áå=ÄìëáåÉëë=ëÉÖãÉåíëW

√ ^ìíçãçíáîÉ=m~êíë=aáëíêáÄìíáçå
√ fåÇìëíêá~ä=mêçÇìÅíë=aáëíêáÄìíáçå
√ d~ëâÉí=j~åìÑ~ÅíìêáåÖ
√ _áíìãÉå=éêçÇìÅíë=EÇáëÅçåíáåìÉÇ=ëáåÅÉ=gìåÉ=OMMTF

qÜÉ=dêçìé=çéÉê~íÉë=éêáã~êáäó=áå=çåÉ=ÖÉçÖê~éÜáÅ~ä=ëÉÖãÉåíI=ÄÉáåÖ=^ìëíê~äá~K

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) For the year ended 30 June 2008

3. Segment reporting (continued) Industry Segments Automotive parts Industrial Bitumen Gasket Eliminations distribution products products manufacturing distribution (discontinued) In thousands of AUD 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 p~äÉëíçÅìëíçãÉêëçìíëáÇÉ íÜÉÅçåëçäáÇ~íÉÇÉåíáíó OMNIPNV OQMIUQT OTMITTO ORRISPV EOTF NSIVTO NMITRN VIUSV J J fåíÉêëÉÖãÉåíë~äÉë QNV EOVF ROO NIQTM J J UMU NINPQ ENITQVF EOIRTRF líÜÉêêÉîÉåìÉ SVV NIONR NIPVU NIQQN J OUN J NOU J J	Consolidated Less Continued discontinued operations operations 2008 2007 2008 2007 2008 2007 QUOIUNR ROPIPOT PQIMOM RQIVVT QQUITVR QSUIPPM J J J J J J OIMVT PIMSR NOM QPM NIVTT OISPR
pÉÖãÉåíêÉîÉåìÉ OMOIQPT OQOIMPP OTOISVO ORUIRRM EOTF NTIORP NNIRRV NNINPN ENITQVF EOIRTRF	QUQIVNO ROSIPVO PQINQM RRIQOT QRMITTO QTMIVSR
rå~ääçÅ~íÉÇÅçêéçê~íÉêÉîÉåìÉ	RUS VS J J RUS VS
qçí~äëÉÖãÉåíêÉîÉåìÉ pÉÖãÉåíêÉëìäí ENVISNMF EUIOOUF OMIVMT OOIURV EPUQF NIPRN NIVRN NINVM J J	QURIQVU ROSIQUU PQINQM RRIQOT QRNIPRU QTNIMSN
	OIUSQ NTINTO EQINVNF EVISTSF TIMRR OSIUQU
rå~ääçÅ~íÉÇåÉíÅçêéçê~íÉ êÉîÉåìÉLEÉñéÉåëÉF	QISUM ENPIPMMF J J QISUM ENPIPMMF
oÉëìäíëÑêçãçéÉê~íáåÖ~ÅíáîáíáÉë kÉíÑáå~åÅáåÖÅçëíë oÉëìäíëÑêçãléÉê~íáåÖ~ÅíáîáíáÉë ÄÉÑçêÉí~ñ fåÅçãÉí~ñEÉñéÉåëÉFLÄÉåÉÑáí d~áåçåë~äÉçÑÇáëÅçåíáåìÉÇ çéÉê~íáçåëEåÉíçÑáåÅçãÉí~ñF mêçÑáíLEäçëëFÑçêíÜÉóÉ~ê pÉÖãÉåí~ëëÉíë TTINNR VMIMRR NQOIMMU NQQITVS PRM OIVRO NMIPOO NMINOQ NIPUQ ENINTRF	TIRQQ PIUTO EQINVNF EVISTSF NNITPR NPIRQU
	EQITPTF EQIVRQF J J EQITPTF EQIVRQF
	OIUMT ENIMUOF EQINVNF EVISTSF SIVVU UIRVQ ENUSF EOITONF NIORT ORM ENIQQPF EOIVTNF
	QIPMM OISQN QIPMM OISQN J J
	SIVON ENINSOF NIPSS ESITURF RIRRR RISOP
	OPNINTV OQSITRO ROIVPN RMIUNT OUQINNM OVTIRSV RTIVRQ RUIVRU RPIOSQ TMIROU NNNIONU NOVIQUS
rå~ääçÅ~íÉÇÅçêéçê~íÉ~ëëÉíë qçí~ä~ëëÉíë pÉÖãÉåíäá~ÄáäáíáÉë OPIRQR OMIUPV PNIOTS PSIVVU PQR NINPS NIQMQ NINSM NIPUQ ENINTRF
rå~ääçÅ~íÉÇÅçêéçê~íÉäá~ÄáäáíáÉë qçí~ääá~ÄáäáíáÉë

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) For the year ended 30 June 2008

3. Segment reporting (continued)

3. Segment reporting (continued)
Industry Segments Automotive parts Industrial products Bitumen Gasket Eliminations distribution distribution products manufacturing (discontinued) In thousands of AUD 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 ^ÅèìáëáíáçåçÑéêçéÉêíóIéä~åí~åÇ ÉèìáéãÉåíIáåí~åÖáÄäÉë~åÇçíÜÉê åçåJÅìêêÉåíëÉÖãÉåí~ëëÉíë NIQUT TIVQR NIQPM PIQMU J PUR NPU NUN J J	Consolidated 2008 2007 PIMRR NNIVNV
rå~ääçÅ~íÉÇÅçêéçê~íÉ~ÅèìáëáíáçåçÑ åçåJÅìêêÉåí~ëëÉíë qçí~ä~ÅèìáëáíáçåçÑéêçéÉêíóIéä~åí~åÇ ÉèìáéãÉåíIáåí~åÖáÄäÉë~åÇçíÜÉê åçåJÅìêêÉåí~ëëÉíë pÉÖãÉåíÇÉéêÉÅá~íáçå~åÇ~ãçêíáë~íáçå ÉñéÉåëÉ NITUP NIUQV NITRM OIMTS J RPN ORT PSP J J	RIQUP SIPPR
	UIRPU NUIORQ
	PITVM QIUNV
rå~ääçÅ~íÉÇåÉíÅçêéçê~íÉÇÉéêÉÅá~íáçå ~åÇ~ãçêíáë~íáçåÉñéÉåëÉ qçí~äÇÉéêÉÅá~íáçå~åÇ~ãçêíáë~íáçåÉñéÉåëÉ pÉÖãÉåíçíÜÉêåçåJÅ~ëÜÉñéÉåëÉë OIQRP OSN EQMMF NIVMN NUR EROF NN ENMF J J	OIMNR PIPPP
	RIUMR UINRO
	OIOQV OINMM
rå~ääçÅ~íÉÇÅçêéçê~íÉåçåJÅ~ëÜÉñéÉåëÉë qçí~äçíÜÉêåçåJÅ~ëÜÉñéÉåëÉë fåÇáîáÇì~ääóã~íÉêá~äáíÉãëáåÅäìÇÉÇáå åÉíéêçÑáíÄÉÑçêÉáåíÉêÉëí~åÇí~ñW oÉäçÅ~íáçåÅçëíë EPIMVPF J EUF J J J J J J J rå~ääçÅ~íÉÇÅçêéçê~íÉêÉäçÅ~íáçåÅçëíë J J J J J J J J J J fåÅêÉ~ëÉáåéêçîáëáçåÑçêçÄëçäÉíÉëíçÅâ EPISTVF J ERMMF J J J J J J J oÉëíêìÅíìêáåÖÅçëíë ENIRQPF J J J EPUPF J J J J J rå~ääçÅ~íÉÇêÉëíêìÅíìêáåÖÅçëíë J J J J J J J J J J rå~ääçÅ~íÉÇåÉíÖ~áåçåë~äÉçÑä~åÇ ~åÇÄìáäÇáåÖë J J J J J J J J J J fãé~áêãÉåíäçëëçåÖççÇïáääçå ~ìíçãçíáîÉé~êíëÇáëíêáÄìíáçåÄìëáåÉëë J EUIUPRF J J J J J J J J	ENQPF EOOMF
	OINMS NIUUM EPINMNF J EOQSF J EQINTVF J ENIVOSF J EOSF J SIVSO J J EUIUPRF

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

For the year ended 30 June 2008

3. Segment reporting (continued)

Industry Segments	Automotive parts	Automotive parts	Industrial	products	Bitumen	Bitumen	Gasket	Gasket	Eliminations	Eliminations	Consolidated	Consolidated
	distribution		distribution		Products		manufacturing
					(discontinued)
In thousands of AUD	2008	2007	2008	2007	2008	2007	2008	2007	2008	2007	2008	2007
içëëçåÉñáíáåÖkpt~ìíçãçíáîÉé~êíë
ÇáëíêáÄìíáçåÄìëáåÉëë	J	ETOUF	J	J	J	J	J	J	J	J	J	ETOUF
rå~ääçÅ~íÉÇÅçêéçê~íÉÉñÉÅìíáîÉ
íÉêãáå~íáçåé~óãÉåí	J	J	J	J	J	J	J	J	J	J	J	ERMMF
rå~ääçÅ~íÉÇÅçêéçê~íÉïêáíÉÇçïåçå
`çãé~åóJïáÇÉáåÑçêã~íáçåëóëíÉã	J	J	J	J	J	J	J	J	J	J	J	ENMIPROF
	EUIPNRF	EVIRSPF	ERMUF	J	EPUPF	J	J	J	J	J	EOIRNSF	EOMIQNRF

4. Individually material items included in profit before tax

Consolidated

	Consolidated
In thousands of AUD Note kÉíÖ~áåçåë~äÉçÑÄìëáåÉëë S fãé~áêãÉåíäçëëçåÖççÇïáääçÑ~ìíçãçíáîÉ é~êíëÇáëíêáÄìíáçåÄìëáåÉëëEáF içëëÑêçãÉñáíáåÖkÉïpçìíÜt~äÉë~ìíçãçíáîÉ é~êíëÇáëíêáÄìíáçåÄìëáåÉëë kÉíÖ~áåçåë~äÉçÑä~åÇ~åÇÄìáäÇáåÖë oÉäçÅ~íáçåÅçëíë oÉëíêìÅíìêáåÖÅçëíë ^ÇÇáíáçå~äáåÅêÉ~ëÉáåéêçîáëáçåÑçêçÄëçäÉíÉëíçÅâ têáíÉÇçïåçÑ`çãé~åóJïáÇÉáåÑçêã~íáçåëóëíÉã ~åÇÉñéÉåÇáíìêÉêÉä~íÉÇíçåçåêÉÅìêêáåÖfqÅçåíê~ÅíëEááF bñÉÅìíáîÉíÉêãáå~íáçåé~óãÉåí	2008 2007 NIRMR PIMMM J EUIUPRF J ETOUF SIVSO J EPIPQTF J ENIVROF J EQINTVF J J ENMIPROF J ERMMF
	ENIMNNF ENTIQNRF

Consolidated

In thousands of AUD
Note
kÉíÖ~áåçåë~äÉçÑÄìëáåÉëë
S
fãé~áêãÉåíäçëëçåÖççÇïáääçÑ~ìíçãçíáîÉ
é~êíëÇáëíêáÄìíáçåÄìëáåÉëëEáF
içëëÑêçãÉñáíáåÖkÉïpçìíÜt~äÉë~ìíçãçíáîÉ
é~êíëÇáëíêáÄìíáçåÄìëáåÉëë
kÉíÖ~áåçåë~äÉçÑä~åÇ~åÇÄìáäÇáåÖë
oÉäçÅ~íáçåÅçëíë
oÉëíêìÅíìêáåÖÅçëíë
^ÇÇáíáçå~äáåÅêÉ~ëÉáåéêçîáëáçåÑçêçÄëçäÉíÉëíçÅâ
têáíÉÇçïåçÑ`çãé~åóJïáÇÉáåÑçêã~íáçåëóëíÉã
~åÇÉñéÉåÇáíìêÉêÉä~íÉÇíçåçåêÉÅìêêáåÖfqÅçåíê~ÅíëEááF
bñÉÅìíáîÉíÉêãáå~íáçåé~óãÉåí

2008
2007
NIRMR
PIMMM
J
EUIUPRF
J
ETOUF
SIVSO
J
EPIPQTF
J
ENIVROF
J
EQINTVF
J
J
ENMIPROF
J
ERMMF

ENIMNNF
ENTIQNRF

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) For the year ended 30 June 2008

4. Individually material items included in profit before tax (continued)

EáF aìÉ=íç=äçïÉê=íÜ~å=ÉñéÉÅíÉÇ=ë~äÉëI=~å=áãé~áêãÉåí=äçëë=çÑ=AUIUPRIMMM=ï~ë=êÉÅçÖåáëÉÇ=ÇìêáåÖ=OMMT=íç=êÉÇìÅÉ=íÜÉ=Å~êêóáåÖ=~ãçìåí=çÑ=ÖççÇïáää=çÑ=íÜÉ=~ìíçãçíáîÉ=é~êíë=ÇáëíêáÄìíáçå ÄìëáåÉëëÉë=áå=nìÉÉåëä~åÇ=~åÇ=kçêíÜÉêå=qÉêêáíçêó=íç=êÉÅçîÉê~ÄäÉ=~ãçìåíK==qÜÉ=áãé~áêãÉåí=íÉëíë=Ñçê=íÜçëÉ=ÄìëáåÉëëÉë=ïÉêÉ=Ä~ëÉÇ=çå=î~äìÉ=áå=ìëÉ=Å~äÅìä~íáçåëI=áå=ïÜáÅÜ=éêçàÉÅíÉÇ éêÉJí~ñ=Å~ëÜ=Ñäçïë=Ñçê=íÜÉ=åÉñí=ÑáîÉ=óÉ~êëI=íçÖÉíÜÉê=ïáíÜ=~=íÉêãáå~ä=î~äìÉ=Ä~ëÉÇ=çå=óÉ~ê=ÑáîÉ=Å~ëÜ=ÑäçïëI=ïÉêÉ=ÇáëÅçìåíÉÇ=~í=~=éêÉJí~ñ=ÇáëÅçìåí=ê~íÉ=çÑ=NNKVTBK==qÜÉ=éêçàÉÅíÉÇ=Å~ëÜ Ñäçïë=ïÉêÉ=Ä~ëÉÇ=çå=ÇÉí~áäÉÇ=çéÉê~íáåÖ=ÄìÇÖÉíë=Ñçê=íÜÉ=óÉ~ê=ÉåÇáåÖ=PM=gìåÉ=OMMU=~ééêçîÉÇ=Äó=íÜÉ=Äç~êÇI=~åÇ=ÜáÖÜÉê=äÉîÉä=ÑçêÉÅ~ëíë=Ñçê=íÜÉ=ÑçääçïáåÖ=Ñçìê=óÉ~êë=~ééêçîÉÇ=Äó= ã~å~ÖÉãÉåíK=

qÜÉ=Å~êêóáåÖ=~ãçìåí=çÑ=íÜÉ=nìÉÉåëä~åÇ=~åÇ=kçêíÜÉêå=qÉêêáíçêó=~ìíçãçíáîÉ=é~êíë=ÇáëíêáÄìíáçå=ÄìëáåÉëë=ÖççÇïáää=ï~ë=ïêáííÉå=Ççïå=íç=åáäK==cìêíÜÉê=ÇÉí~áäë=~êÉ=ëÉí=çìí=áå=kçíÉ=NT=çÑ íÜÉ=Ñìää=Ñáå~åÅá~ä=êÉéçêíK

EááF aÉí~áäë=çÑ=íÜÉ=`çãé~åóJïáÇÉ=áåÑçêã~íáçå=ëóëíÉã=ïêáíÉ=çÑÑ=ïÜáÅÜ=ï~ë=êÉÅçÖåáëÉÇ=ÇìêáåÖ=OMMT=~êÉ=ëÉí=çìí=áå=kçíÉ=NT=çÑ=íÜÉ=Ñìää=Ñáå~åÅá~ä=êÉéçêíK

5. Capital and reserves

Reconciliation of movement in capital and reserves Consolidated

Consolidated
	Share-based	Hedging	Translation	Realisation	Total	Share	Retained	Total for	Minority	Total
	payments	reserve	reserve	reserve	reserve	capital	earnings	members	interest	equity
In thousands of AUD	reserve							of the
								Company
_~ä~åÅÉ~íNgìäóOMMS	SMS	NPT	EUSNF	OOIURS	OOITPU	VUIUTP	QNIVTU	NSPIRUV	OIUPS	NSSIQOR
qçí~äêÉÅçÖåáëÉÇáåÅçãÉ~åÇÉñéÉåëÉ	J	QVN	NIOUT	J	NITTU	J	ENIQMVF	PSV	OVN	SSM
bèìáíóëÉííäÉÇëÜ~êÉÄ~ëÉÇé~óãÉåí
íê~åë~Åíáçåë	RR	J	J	J	RR	J	J	RR	J	RR
qê~åëÑÉêíçêÉëÉêîÉ	J	J	J	VS	VS	J	EVSF	J	J	J
`çåíêáÄìíáçåçÑÉèìáíó	J	J	J	J	J	NPIUMP	J	NPIUMP	J	NPIUMP
aáîáÇÉåÇëíçëÜ~êÉÜçäÇÉêë	J	J	J	J	J	J	ENOIQUVF	ENOIQUVF	EPTNF	ENOIUSMF
_~ä~åÅÉ~íPMgìåÉOMMT	SSN	SOU	QOS	OOIVRO	OQISST	NNOISTS	OTIVUQ	NSRIPOT	OITRS	NSUIMUP
_~ä~åÅÉ~íNgìäóOMMT	SSN	SOU	QOS	OOIVRO	OQISST	NNOISTS	OTIVUQ	NSRIPOT	OITRS	NSUIMUP
qçí~äêÉÅçÖåáëÉÇáåÅçãÉ~åÇÉñéÉåëÉ	J	OSP	ENIVPMF	J	ENISSTF	J	SIROO	QIURR	POT	RINUO
bèìáíóëÉííäÉÇëÜ~êÉÄ~ëÉÇé~óãÉåí
íê~åë~Åíáçåë	RP	J	J	J	RP	J	J	RP	J	RP
qê~åëÑÉêíçêÉëÉêîÉ	J	J	J	ROV	ROV	J	EROVF	J	J	J
aáîáÇÉåÇëíçëÜ~êÉÜçäÇÉêë	J	J	J	J	J	J	J	J	EQOSF	EQOSF
_~ä~åÅÉ~íPMgìåÉOMMU	TNQ	UVN	ENIRMQF	OPIQUN	OPIRUO	NNOISTS	PPIVTT	NTMIOPR	OISRT	NTOIUVO

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) For the year ended 30 June 2008

5. Capital and reserves (continued)

Reconciliation of movement in capital and reserves (continued)

Translation reserve

qÜÉ=íê~åëä~íáçå=êÉëÉêîÉ=ÅçãéêáëÉë=~ää=ÑçêÉáÖå=ÉñÅÜ~åÖÉ=ÇáÑÑÉêÉåÅÉë=~êáëáåÖ=Ñêçã=íÜÉ=íê~åëä~íáçå=çÑ=íÜÉ=Ñáå~åÅá~ä=ëí~íÉãÉåíë=çÑ=ÑçêÉáÖå=çéÉê~íáçåë=ïÜÉêÉ=íÜÉáê=ÑìåÅíáçå~ä=ÅìêêÉåÅó=áë= ÇáÑÑÉêÉåí=íç=íÜÉ=éêÉëÉåí~íáçå=ÅìêêÉåÅó=çÑ=íÜÉ=êÉéçêíáåÖ=ÉåíáíóI=~ë=ïÉää=~ë=Ñêçã=íÜÉ=íê~åëä~íáçå=çÑ=äá~ÄáäáíáÉë=íÜ~í=ÜÉÇÖÉ=íÜÉ=`çãé~åóÛë=åÉí=áåîÉëíãÉåí=áå=~=ÑçêÉáÖå=ëìÄëáÇá~êóK

Hedging reserve

qÜÉ=ÜÉÇÖáåÖ=êÉëÉêîÉ=ÅçãéêáëÉë=íÜÉ=ÉÑÑÉÅíáîÉ=éçêíáçå=çÑ=íÜÉ=Åìãìä~íáîÉ=åÉí=ÅÜ~åÖÉ=áå=íÜÉ=Ñ~áê=î~äìÉ=çÑ=Å~ëÜ=Ñäçï=ÜÉÇÖáåÖ=áåëíêìãÉåíë=êÉä~íÉÇ=íç=ÜÉÇÖÉÇ=íê~åë~Åíáçåë=íÜ~í=Ü~îÉ=åçí=óÉí çÅÅìêêÉÇK

Realisation reserve

qÜÉ=~ëëÉí=êÉ~äáë~íáçå=êÉëÉêîÉ=áåÅäìÇÉë=êÉî~äì~íáçå=áåÅêÉãÉåíë=~åÇ=ÇÉÅêÉãÉåíë=éêÉîáçìëäó=áåÅäìÇÉÇ=áå=êÉí~áåÉÇ=É~êåáåÖëI=ïÜáÅÜ=Ü~îÉ=ÄÉÉå=êÉ~äáëÉÇ=ìéçå=íÜÉ=Çáëéçë~ä=çÑ=éêÉîáçìëäó= êÉî~äìÉÇ=åçåJÅìêêÉåí=~ëëÉíëK

Share based payments reserve

qÜÉ=ëÜ~êÉ=Ä~ëÉÇ=é~óãÉåí=êÉëÉêîÉ=ÅçãéêáëÉë=íÜÉ=Ñ~áê=î~äìÉ=çÑ=ëÜ~êÉë=íÜ~í=~êÉ=óÉí=íç=îÉëí=ìåÇÉê=ëÜ~êÉ=Ä~ëÉÇ=é~óãÉåíë=~êê~åÖÉãÉåíëK

Dividends

kç=ÇáîáÇÉåÇë=ïÉêÉ=êÉÅçÖåáëÉÇ=áå=íÜÉ=ÅìêêÉåí=óÉ~ê=Äó=íÜÉ=`çãé~åóK

In thousands of AUD Cents per share Total amount Franked/unfranked Date of payment	In thousands of AUD Cents per share Total amount Franked/unfranked Date of payment
2007 fåíÉêáãOMMTçêÇáå~êó NTÅÉåíë cáå~äOMMSçêÇáå~êó NTÅÉåíë qçí~ä~ãçìåí	SIPTR cê~åâÉÇ OVj~êÅÜOMMT SINNQ cê~åâÉÇ NOlÅíçÄÉêOMMS NOIQUV

cê~åâÉÇ=ÇáîáÇÉåÇë=ÇÉÅä~êÉÇ=çê=é~áÇ=ÇìêáåÖ=OMMT=ïÉêÉ=Ñê~åâÉÇ=~í=íÜÉ=í~ñ=ê~íÉ=çÑ=PMBK

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) For the year ended 30 June 2008

6. Discontinued operations

få=gìåÉ=OMMU=íÜÉ=dêçìé=ëçäÇ=íÜÉ=ã~àçêáíó=çÑ=~ëëÉíë=çÑ=íïç=Çáîáëáçåë=ïáíÜáå=áíë=^ìíçãçíáîÉ=é~êíë=ÇáëíêáÄìíáçå=ëÉÖãÉåíK==qÜÉ=íïç=Çáîáëáçåë=ïÉêÉ=åçí=ÇáëÅçåíáåìÉÇ=çéÉê~íáçåë=çê=Åä~ëëáÑáÉÇ ~ë=ÜÉäÇ=Ñçê=ë~äÉ=~ë=~í=PM=gìåÉ=OMMT=~åÇ=íÜÉ=Åçãé~ê~íáîÉ=áåÅçãÉ=ëí~íÉãÉåí=Ü~ë=ÄÉÉå=êÉJéêÉëÉåíÉÇ=íç=ëÜçï=íÜÉ=ÇáëÅçåíáåìÉÇ=çéÉê~íáçåë=ëÉé~ê~íÉäó=Ñêçã=ÅçåíáåìáåÖ=çéÉê~íáçåëK==fåÅäìÇÉÇ áå=íÜÉ=OMMT=Åçãé~ê~íáîÉ=êÉëìäíë=çÑ=ÇáëÅçåíáåìÉÇ=çéÉê~íáçåë=áë=íÜÉ=_áíìãÉå=ëÉÖãÉåí=ïÜáÅÜ=ï~ë=ÇáëéçëÉÇ=~í=PM=gìåÉ=OMMTK

mêçÑáíLEäçëëF=~ííêáÄìí~ÄäÉ=íç=íÜÉ=ÇáëÅçåíáåìÉÇ=çéÉê~íáçåë=ïÉêÉ=~ë=ÑçääçïëW

In thousands of AUD oÉëìäíëçÑÇáëÅçåíáåìÉÇçéÉê~íáçåë oÉîÉåìÉ líÜÉêêÉîÉåìÉ líÜÉêáåÅçãÉ bñéÉåëÉë oÉëìäíëÑêçãçéÉê~íáåÖ~ÅíáîáíáÉë fåÅçãÉí~ñÄÉåÉÑáí d~áåçåë~äÉçÑÇáëÅçåíáåìÉÇçéÉê~íáçå fåÅçãÉí~ñÄÉåÉÑáíLEÉñéÉåëÉFçåÅ~éáí~ääçëëLÖ~áåçå ë~äÉçÑÇáëÅçåíáåìÉÇçéÉê~íáçåë mêçÑáíLEäçëëFÑçêíÜÉóÉ~ê _~ëáÅÉ~êåáåÖëLEäçëëFéÉêëÜ~êÉ aáäìíÉÇÉ~êåáåÖëLEäçëëFéÉêëÜ~êÉ	Consolidated 2008 2007 PQIMOM RQIVVT NOM QPM RN QS EPUIPUOF ESRINQVF
	EQINVNF EVISTSF NIORT ORM NIRMR PIMMM OITVR EPRVF
	NIPSS ESITURF
	PKRÅÉåíë ENUKNFÅÉåíë
	PKQÅÉåíë ENUKMFÅÉåíë

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) For the year ended 30 June 2008

6. Discontinued operations (continued)

6. Discontinued operations (continued)
In thousands of AUD `~ëÜÑäçïëÑêçãÇáëÅçåíáåìÉÇçéÉê~íáçåë kÉíÅ~ëÜìëÉÇáåçéÉê~íáåÖ~ÅíáîáíáÉë kÉíÅ~ëÜÑêçãEìëÉÇáåFáåîÉëíáåÖ~ÅíáîáíáÉë kÉíÅ~ëÜÑêçãEìëÉÇáåFÇáëÅçåíáåìÉÇçéÉê~íáçåë bÑÑÉÅíçÑÇáëéçë~äçåíÜÉÑáå~åÅá~äéçëáíáçåçÑíÜÉdêçìé mêçéÉêíóIéä~åí~åÇÉèìáéãÉåí qê~ÇÉ~åÇçíÜÉêêÉÅÉáî~ÄäÉë fåîÉåíçêáÉë qê~ÇÉ~åÇçíÜÉêé~ó~ÄäÉë aÉÑÉêêÉÇí~ñäá~ÄáäáíáÉë kÉíáÇÉåíáÑá~ÄäÉ~ëëÉíë~åÇäá~ÄáäáíáÉë kÉíÅçåëáÇÉê~íáçåêÉÅÉáîÉÇIë~íáëÑáÉÇáåÅ~ëÜ	Consolidated 2008 2007 EUNPF EQPUF NIVMS EUUQF
	NIMVP ENIPOOF
	EVQTF EPIUNUF ETMOF J ERIRMRF EPNMF UOM OPM ENPMF ESVF
	ESIQSQF EPIVSTF
	TIVSV SIVST

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

DIRECTORS’ DECLARATION

NK få=íÜÉ=çéáåáçå=çÑ=íÜÉ=ÇáêÉÅíçêë=çÑ=çîÉåíêó=dêçìé=iíÇI=íÜÉ=ÅçåÅáëÉ=Ñáå~åÅá~ä=ëí~íÉãÉåíë=~åÇ=åçíÉë=ëÉí=çìí=çå=é~ÖÉë=QO=íç=RS=~åÇ=íÜÉ=êÉãìåÉê~íáçå=ÇáëÅäçëìêÉë=íÜ~í=~êÉ=Åçåí~áåÉÇ=áå pÉÅíáçåë=NMKNI=NMKOI=NMKPI=NMKQI=NMKRI=NMKSI=NMKTI=NMKUI=NMKV=~åÇ=NMKNM=çÑ=íÜÉ=oÉãìåÉê~íáçå=oÉéçêí=áå=íÜÉ=aáêÉÅíçêëÛ=oÉéçêíI=çÑ=íÜÉ=dêçìéI=ÅçãéêáëáåÖ=çîÉåíêó=dêçìé=iíÇ=~åÇ=áíë ÅçåíêçääÉÇ=ÉåíáíáÉë=Ñçê=íÜÉ=Ñáå~åÅá~ä=óÉ~ê=ÉåÇÉÇ=PM=gìåÉ=OMMUW

E~F Ü~ë=ÄÉÉå=ÇÉêáîÉÇ=Ñêçã=çê=áë=ÅçåëáëíÉåí=ïáíÜ=íÜÉ=Ñìää=Ñáå~åÅá~ä=êÉéçêí=Ñçê=íÜÉ=Ñáå~åÅá~ä=óÉ~êX=~åÇ

EÄF ÅçãéäáÉë=ïáíÜ=^ìëíê~äá~å=^ÅÅçìåíáåÖ=pí~åÇ~êÇ=^^p_=NMPV= Concise Financial Reports K=

páÖåÉÇ=áå=~ÅÅçêÇ~åÅÉ=ïáíÜ=~=êÉëçäìíáçå=çÑ=íÜÉ=ÇáêÉÅíçêëK

o=_=cäóåå================================================================= bñÉÅìíáîÉ=`Ü~áêã~å=================================================

mÉêíÜ OO=^ìÖìëí=OMMU

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

==> picture [80 x 32] intentionally omitted <==

INDEPENDENT AUDITOR’S REPORT

Independent auditor’s report to the members of Coventry Group Ltd Report on the concise financial report

qÜÉ=~ÅÅçãé~åóáåÖ=ÅçåÅáëÉ=Ñáå~åÅá~ä=êÉéçêí=çÑ=íÜÉ=dêçìé=ÅçãéêáëáåÖ=çîÉåíêó=dêçìé=iáãáíÉÇ=EíÜÉ=çãé~åóF=~åÇ=áíë=ÅçåíêçääÉÇ=ÉåíáíáÉë=ÅçãéêáëÉë=íÜÉ=Ä~ä~åÅÉ=ëÜÉÉí=~ë=~í=PM=gìåÉ OMMUI=íÜÉ=áåÅçãÉ=ëí~íÉãÉåíI=ëí~íÉãÉåí=çÑ=ÅÜ~åÖÉë=áå=Éèìáíó=~åÇ=Å~ëÜ=Ñäçï=ëí~íÉãÉåí=Ñçê=íÜÉ=óÉ~ê=íÜÉå=ÉåÇÉÇ=~åÇ=êÉä~íÉÇ=åçíÉë=N=íç=S=ÇÉêáîÉÇ=Ñêçã=íÜÉ=~ìÇáíÉÇ=Ñáå~åÅá~ä=êÉéçêí=çÑ `çîÉåíêó=dêçìé=iíÇ=Ñçê=íÜÉ=óÉ~ê=ÉåÇÉÇ=PM=gìåÉ=OMMU=~åÇ=íÜÉ=ÇáëÅìëëáçå=~åÇ=~å~äóëáëK=qÜÉ=ÅçåÅáëÉ=Ñáå~åÅá~ä=êÉéçêí=ÇçÉë=åçí=Åçåí~áå=~ää=íÜÉ=ÇáëÅäçëìêÉë=êÉèìáêÉÇ=Äó=^ìëíê~äá~å ^ÅÅçìåíáåÖ=pí~åÇ~êÇëK=

Directors’ responsibility for the concise financial report

qÜÉ=ÇáêÉÅíçêë=çÑ=íÜÉ=`çîÉåíêó=dêçìé=iíÇ=~êÉ=êÉëéçåëáÄäÉ=Ñçê=íÜÉ=éêÉé~ê~íáçå=~åÇ=éêÉëÉåí~íáçå=çÑ=íÜÉ=ÅçåÅáëÉ=Ñáå~åÅá~ä=êÉéçêí=áå=~ÅÅçêÇ~åÅÉ=ïáíÜ=^ìëíê~äá~å=^ÅÅçìåíáåÖ=pí~åÇ~êÇ=^^p_ NMPV= Concise Financial Reports ~åÇ=íÜÉ= Corporations Act 2001 K=qÜáë=êÉëéçåëáÄáäáíó=áåÅäìÇÉë=Éëí~ÄäáëÜáåÖ=~åÇ=ã~áåí~áåáåÖ=áåíÉêå~ä=Åçåíêçä=êÉäÉî~åí=íç=íÜÉ=éêÉé~ê~íáçå=çÑ=íÜÉ=ÅçåÅáëÉ= Ñáå~åÅá~ä=êÉéçêíX=ëÉäÉÅíáåÖ=~åÇ=~ééäóáåÖ=~ééêçéêá~íÉ=~ÅÅçìåíáåÖ=éçäáÅáÉëX=~åÇ=ã~âáåÖ=~ÅÅçìåíáåÖ=Éëíáã~íÉë=íÜ~í=~êÉ=êÉ~ëçå~ÄäÉ=áå=íÜÉ=ÅáêÅìãëí~åÅÉëK=

Auditor’s responsibility

lìê=êÉëéçåëáÄáäáíó=áë=íç=ÉñéêÉëë=~å=çéáåáçå=çå=íÜÉ=ÅçåÅáëÉ=Ñáå~åÅá~ä=êÉéçêí=Ä~ëÉÇ=çå=çìê=~ìÇáí=éêçÅÉÇìêÉëK=tÉ=Ü~îÉ=ÅçåÇìÅíÉÇ=~å=áåÇÉéÉåÇÉåí=~ìÇáí=áå=~ÅÅçêÇ~åÅÉ=ïáíÜ=^ìëíê~äá~å ^ìÇáíáåÖ=pí~åÇ~êÇëI=çÑ=íÜÉ=Ñáå~åÅá~ä=êÉéçêí=çÑ=`çîÉåíêó=dêçìé=iíÇ=Ñçê=íÜÉ=óÉ~ê=ÉåÇÉÇ=PM=gìåÉ=OMMUK=lìê=~ìÇáí=êÉéçêí=çå=íÜÉ=Ñáå~åÅá~ä=êÉéçêí=Ñçê=íÜÉ=óÉ~ê=ï~ë=ëáÖåÉÇ=çå=OO=^ìÖìëí=OMMU ~åÇ=ï~ë=åçí=ëìÄàÉÅí=íç=~åó=ãçÇáÑáÅ~íáçåK=qÜÉ=^ìëíê~äá~å=^ìÇáíáåÖ=pí~åÇ~êÇë=êÉèìáêÉ=íÜ~í=ïÉ=Åçãéäó=ïáíÜ=êÉäÉî~åí=ÉíÜáÅ~ä=êÉèìáêÉãÉåíë=êÉä~íáåÖ=íç=~ìÇáí=ÉåÖ~ÖÉãÉåíë=~åÇ=éä~å=~åÇ= éÉêÑçêã=íÜÉ=~ìÇáí=íç=çÄí~áå=êÉ~ëçå~ÄäÉ=~ëëìê~åÅÉ=ïÜÉíÜÉê=íÜÉ=Ñáå~åÅá~ä=êÉéçêí=Ñçê=íÜÉ=óÉ~ê=áë=ÑêÉÉ=çÑ=ã~íÉêá~ä=ãáëëí~íÉãÉåíK=

lìê=éêçÅÉÇìêÉë=áå=êÉëéÉÅí=çÑ=íÜÉ=ÅçåÅáëÉ=Ñáå~åÅá~ä=êÉéçêí=áåÅäìÇÉ=íÉëíáåÖ=íÜ~í=íÜÉ=áåÑçêã~íáçå=áå=íÜÉ=ÅçåÅáëÉ=Ñáå~åÅá~ä=êÉéçêí=áë=ÇÉêáîÉÇ=ÑêçãI=~åÇ=áë=ÅçåëáëíÉåí=ïáíÜI=íÜÉ=Ñáå~åÅá~ä=êÉéçêí Ñçê=íÜÉ=óÉ~êI=~åÇ=Éñ~ãáå~íáçå=çå=~=íÉëí=Ä~ëáëI=çÑ=ÉîáÇÉåÅÉ=ëìééçêíáåÖ=íÜÉ=~ãçìåíë=ÇáëÅìëëáçå=~åÇ=~å~äóëáëI=~åÇ=çíÜÉê=ÇáëÅäçëìêÉë=ïÜáÅÜ=ïÉêÉ=åçí=ÇáêÉÅíäó=ÇÉêáîÉÇ=Ñêçã=íÜÉ=Ñáå~åÅá~ä êÉéçêí=Ñçê=íÜÉ=óÉ~êK=qÜÉëÉ=éêçÅÉÇìêÉë=Ü~îÉ=ÄÉÉå=ìåÇÉêí~âÉå=íç=Ñçêã=~å=çéáåáçå=ïÜÉíÜÉêI=áå=~ää=ã~íÉêá~ä=êÉëéÉÅíëI=íÜÉ=ÅçåÅáëÉ=Ñáå~åÅá~ä=êÉéçêí=ÅçãéäáÉë=ïáíÜ=^ìëíê~äá~å=^ÅÅçìåíáåÖ pí~åÇ~êÇ=^^p_=NMPV= Concise Financial Reports ~åÇ=ïÜÉíÜÉê=íÜÉ=ÇáëÅìëëáçå=~åÇ=~å~äóëáë=ÅçãéäáÉë=ïáíÜ=íÜÉ=êÉèìáêÉãÉåíë=ä~áÇ=Ççïå=áå=^ìëíê~äá~å=^ÅÅçìåíáåÖ=pí~åÇ~êÇ=^^p_=NMPV= Concise Financial Reports K=tÉ=ÄÉäáÉîÉ=íÜ~í=íÜÉ=~ìÇáí=ÉîáÇÉåÅÉ=ïÉ=Ü~îÉ=çÄí~áåÉÇ=áë=ëìÑÑáÅáÉåí=~åÇ=~ééêçéêá~íÉ=íç=éêçîáÇÉ=~=Ä~ëáë=Ñçê=çìê=~ìÇáí=çéáåáçåK=

Auditor’s opinion

få=çìê=çéáåáçåI=íÜÉ=ÅçåÅáëÉ=Ñáå~åÅá~ä=êÉéçêí=áåÅäìÇáåÖ=íÜÉ=ÇáëÅìëëáçå=~åÇ=~å~äóëáëI=çÑ=`çîÉåíêó=dêçìé=iíÇ=~åÇ=áíë=ÅçåíêçääÉÇ=ÉåíáíáÉë=Ñçê=íÜÉ=óÉ~ê=ÉåÇÉÇ=PM=gìåÉ=OMMU=ÅçãéäáÉë=ïáíÜ ^ìëíê~äá~å=^ÅÅçìåíáåÖ=pí~åÇ~êÇ=^^p_=NMPV= Concise Financial Reports K=

==> picture [65 x 101] intentionally omitted <==

----- Start of picture text -----

KPMG
q=o=e~êí
Partner
mÉêíÜ
OO=^ìÖìëí=OMMU
----- End of picture text -----

KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative.

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

==> picture [79 x 32] intentionally omitted <==

LEAD AUDITOR’S INDEPENDENCE DECLARATION

Lead Auditor’s Independence Declaration under Section 307C of the Corporations Act 2001

qçW=íÜÉ=ÇáêÉÅíçêë=çÑ=`çîÉåíêó=dêçìé=iáãáíÉÇ=

f=ÇÉÅä~êÉ=íÜ~íI=íç=íÜÉ=ÄÉëí=çÑ=ãó=âåçïäÉÇÖÉ=~åÇ=ÄÉäáÉÑI=áå=êÉä~íáçå=íç=íÜÉ=~ìÇáí=Ñçê=íÜÉ=Ñáå~åÅá~ä=óÉ~ê=ÉåÇÉÇ=PM=gìåÉ=OMMU=íÜÉêÉ=Ü~îÉ=ÄÉÉåW=

EáF= åç=Åçåíê~îÉåíáçåë=çÑ=íÜÉ=~ìÇáíçê=áåÇÉéÉåÇÉåÅÉ=êÉèìáêÉãÉåíë=~ë=ëÉí=çìí=áå=íÜÉ=`çêéçê~íáçåë=^Åí=OMMN=áå=êÉä~íáçå=íç=íÜÉ=~ìÇáíX=~åÇ= EááF=åç=Åçåíê~îÉåíáçåë=çÑ=~åó=~ééäáÅ~ÄäÉ=ÅçÇÉ=çÑ=éêçÑÉëëáçå~ä=ÅçåÇìÅí=áå=êÉä~íáçå=íç=íÜÉ=~ìÇáíK=

==> picture [27 x 8] intentionally omitted <==

----- Start of picture text -----

KPMG
----- End of picture text -----

q=o=e~êí Partner

mÉêíÜ OO=^ìÖìëí=OMMU

KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative.

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

SHAREHOLDER INFORMATION

~ë=~í=U=pÉéíÉãÄÉê=OMMU

TWENTY LARGEST SHAREHOLDERS

TWENTY LARGEST SHAREHOLDERS
Name	Ordinary Shares Number % of Total
NK o_`aÉñá~fåîÉëíçêpÉêîáÅÉë^ìëíê~äá~kçãáåÉÉëmíóiáãáíÉÇE_h`ìëí^L`F<br>OK<br>gmjçêÖ~åkçãáåÉÉë^ìëíê~äá~iáãáíÉÇ<br>PK<br>k~íáçå~äkçãáåÉÉëiáãáíÉÇ<br>QK<br>^ìëíê~äá~åcçìåÇ~íáçåfåîÉëíãÉåí`çãé~åóiáãáíÉÇ RK açêëÉíífåîÉëíãÉåíëmíóiíÇ SK pï~åï~ääeçäÇáåÖëmíóiíÇ TK `áíáÅçêékçãáåÉÉëmíóiáãáíÉÇ<br>UK<br>^ååÉhóäÉ<br>VK<br>cçêíáë`äÉ~êáåÖkçãáåÉÉëmíóiíÇ NMK ^êÖçfåîÉëíãÉåíëiáãáíÉÇ NNK j~äÅçäãg~ãÉëjÅ`ìëâÉê<br>NOKp~åÇÜìêëíqêìëíÉÉëiíÇEpfpc^L`F NPKep_`ìëíçÇókçãáåÉÉëE^ìëíê~äá~FiíÇ<br>NQK<br>dïóåîáääqê~ÇáåÖmíóiíÇ<br>NRKáíáÅçêékçãáåÉÉëmíóiíÇE`cpfi`ïäíÜ^ìëípepNQ^L`F<br>NSKcçêìãfåîÉëíãÉåíëmíóiíÇ<br>NTK dÉçÑÑêÉójáÅÜ~ÉähóäÉ<br>NUK`äáÑÑçêÇj~ñïÉäähóäÉ NVKgç~åjÉêäÉpãáíÜ OMKmáåÉãçåímä~åí~íáçåëmíóiíÇ	SISSVIRUT NSKVP PIQMUIOSP UKSR OIRTSIPVP SKRQ NISRMIMMM QKNV NIQRRIUVR PKSV NIQMUIRPR PKRT NINSSIRVV OKSV NIMMMIMMM OKRQ UPSISNV OKNO TQMITMP NKUU TPQIRNN NKUS SROIMTP NKSR QQSISQN NKNP QMMIMMM NKMO PVUIOOO NKMN PRMIMMM MKUV PNMIMMM MKTV PMNIOMU MKTS OPQIQOT MKRV ONSIVQO MKRR
	OQIVRSISNU SPKPO

DISTRIBUTION OF SHAREHOLDINGS

DISTRIBUTION OF SHAREHOLDINGS
Size of Holding	Shareholders Shares Number % Number %
NíçNIMMM NIMMNíçRIMMM RIMMNíçNMIMMM NMIMMNíçNMMIMMM NMMIMMN~åÇçîÉê	NINVN PSKVV QUSINTN NKOP NIQNR QPKVR PISQTITRO VKOS PPP NMKPQ OIQNUIMSM SKNQ OQU TKTM SIMTNISNU NRKQN PP NKMO OSITUOISUQ STKVS
	PIOOM NMMKMM PVIQMSIOUR NMMKMM

qÜÉêÉ=ïÉêÉ=ROR=ÜçäÇÉêë=çÑ=äÉëë=íÜ~å=~=ã~êâÉí~ÄäÉ=é~êÅÉä=çÑ=ëÜ~êÉëK

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

SHAREHOLDER INFORMATION (CONTINUED)

SUBSTANTIAL SHAREHOLDERS

qÜÉ=`çãé~åóÛë=êÉÖáëíÉê=çÑ=ëìÄëí~åíá~ä=ëÜ~êÉÜçäÇÉêë=ëÜçïÉÇ=íÜÉ=ÑçääçïáåÖ=é~êíáÅìä~êë=~ë=~í=U=pÉéíÉãÄÉê=OMMUK

Name of Substantial Shareholder fåîÉëíçêëjìíì~äiáãáíÉÇ m~ê~ÇáÅÉfåîÉëíãÉåíj~å~ÖÉãÉåímíóiíÇ	Extent of Interest Date of Last (No. of shares) Notification
	TITOTIPOU ONKMUKOMMT PIPRSISMM MPKMVKOMMT

VOTING RIGHTS

b~ÅÜ=ãÉãÄÉê=éêÉëÉåí=~í=~=ÖÉåÉê~ä=ãÉÉíáåÖ=çÑ=íÜÉ=`çãé~åó=áå=éÉêëçå=çê=Äó=éêçñóI=~ííçêåÉó=çê=çÑÑáÅá~ä=êÉéêÉëÉåí~íáîÉ=áë=ÉåíáíäÉÇW

√ çå=~=ëÜçï=çÑ=Ü~åÇë=J=íç=çåÉ=îçíÉK
√ çå=~=éçää=J=íç=çåÉ=îçíÉ=Ñçê=É~ÅÜ=ëÜ~êÉ=ÜÉäÇK

CORPORATE DIRECTORY

Coventry Group Ltd

^_k=PT=MMU=STM=NMO

Registered and Principal Administrative Office

ROR=dêÉ~í=b~ëíÉêå=eáÖÜï~ó oÉÇÅäáÑÑÉI=tÉëíÉêå=^ìëíê~äá~=SNMQ qÉäÉéÜçåÉW=EMUF=VOTS=MNNN c~ÅëáãáäÉW===EMUF=VQPS=RQMS

Postal Address

ml=_çñ=TQM

`äçîÉêÇ~äÉI=tÉëíÉêå=^ìëíê~äá~=SVUR

Website

ïïïKÅÖäKÅçãK~ì

Secretary

gçÜå=`çääá

Bankers

tÉëíé~Å=_~åâáåÖ=`çêéçê~íáçå

Auditors

hmjd

`Éåíê~ä=m~êâ NROJNRU=píK=dÉçêÖÉÛë=qÉêê~ÅÉ mÉêíÜI=tÉëíÉêå=^ìëíê~äá~=SMMM

Share Registry

`çãéìíÉêëÜ~êÉ=fåîÉëíçê=pÉêîáÅÉë=míó=iáãáíÉÇ iÉîÉä=OI=oÉëÉêîÉ=_~åâ=_ìáäÇáåÖ QR=píK=dÉçêÖÉÛë=qÉêê~ÅÉ mÉêíÜI=tÉëíÉêå=^ìëíê~äá~=SMMM qÉäÉéÜçåÉW=EMUF=VPOP=OMMM c~ÅëáãáäÉW===EMUF=VPOP=OMPP

Securities Exchange Listing

qÜÉ=çãé~åóÛë=ëÜ~êÉë=~êÉ=äáëíÉÇ=çå=íÜÉ=^ìëíê~äá~å pÉÅìêáíáÉë=bñÅÜ~åÖÉ=iáãáíÉÇ=~åÇ=íê~ÇÉ=ìåÇÉê=íÜÉ=^pu=ÅçÇÉvdK=qÜÉ=ÜçãÉ=ÉñÅÜ~åÖÉ=áë=mÉêíÜK

Shareholder Enquiries/Change of Address

pÜ~êÉÜçäÇÉêë=ïáëÜáåÖ=íç=ÉåèìáêÉ=~Äçìí=íÜÉáê=ëÜ~êÉÜçäÇáåÖëI ÇáîáÇÉåÇ=é~óãÉåíë=çê=ÅÜ~åÖÉ=íÜÉáê=~ÇÇêÉëë=ëÜçìäÇ=Åçåí~Åí íÜÉ=`çãé~åóÛë=pÜ~êÉ=oÉÖáëíêóK

COVENTRY GROUP LTD AND ITS CONTROLLED ENTITIES lkfpb=^kkr^i=obmloq=OMMU

AI assistant

COVENTRY GROUP LIMITED — Annual Report 2008

64742_rns_2008-10-02_332bdb03-6433-49a4-ac05-ec8e9529add1.pdf

COVENTRY GROUP LTD

C O N C I S E A N N U A L R E P O R T

FIVE YEAR FINANCIAL OVERVIEW

About Coventry Group

2008 YEAR IN BRIEF

FINANCIAL

OPERATIONS

Basic earnings per share (cents)

Revenue ($ million)

OVERVIEW OF BUSINESS UNITS

INDUSTRIAL

Principal Activities

AUTOMOTIVE

Principal Activities

GASKETS

Principal Activities

Year In Brief

Year In Brief

Year In Brief

Financial

Financial[1]

Financial

EXECUTIVE CHAIRMAN’S REPORT

aÉ~ê=pÜ~êÉÜçäÇÉê

Financial Performance

Gearing and Cash Flow

Dividend

Board Composition

Operations Review

Industrial Products Distribution

Automotive Parts Distribution

Gasket Manufacturing

People

Outlook

BOARD OF DIRECTORS

Joseph Boros cm^I=c^fa

CONCISE FINANCIAL REPORT

Coventry Group Ltd For the year ended 30 June 2008

Contents

DIRECTORS’ REPORT

1. Directors

Information on Directors

Independent, non-executive directors

Executive directors

Directors’ Interests

1. Directors (continued)

Directors’ Meetings

2. Principal activities

Automotive Parts

Industrial Products

Gasket Manufacturing

3. Consolidated results

4. Dividends

5. Review of operations and results

6. Earnings per share

7. Significant change in the company’s affairs

8. Events subsequent to reporting date

9. Likely developments

10. Remuneration report

10.1 Key Management Personnel (KMPs)

Executive directors

10. Remuneration report (continued)

10.2 Principles used to determine the nature and amount of compensation

Non-executive directors

Directors’ fees

Executive pay

10. Remuneration report (continued)

10.2 Principles used to determine the nature and amount of compensation (continued)

Fixed annual compensation

Performance linked compensation

pÜçêíJíÉêã=áåÅÉåíáîÉë

içåÖJíÉêã=áåÅÉåíáîÉë

10. Remuneration report (continued)

10.2 Principles used to determine the nature and amount of compensation (continued)

10. Remuneration report (continued)

10.2 Principles used to determine the nature and amount of compensation (continued)

Consequences of performance on shareholders wealth

COVENTRY GROUP LIMITED Annual Report 2008

Joseph Boros c`m^I=c^f`a

g=`çääáI=`çãé~åó=pÉÅêÉí~êó