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IGO LIMITED Remuneration Information 2003
65111_rns_2003-12-16_f8b463b1-3a2a-4ce1-b737-65b8739b14e5.pdf
Remuneration Information
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17 December 2003
Australian Stock Exchange Limited Company Announcements Level 10, 20 Bond Street SYDNEY NSW 2000
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VALUATION OF OPTIONS - 2003 DIRECTORS' REPORT
The Company would like to advise that ASIC has recently reviewed the Company's 2003 Annual Report and have requested that the following information be released to shareholders.
The Directors' Report contains information relating to the remuneration of directors for the year ending 30 June 2003.
The following options were issued to two executives of the Company during the financial year ending 30 June 2003. The options have been valued at grant date under the Black-Scholes method and the value has been apportioned over the vesting period. The value apportioned for the year ending 30 June 2003 is as follows:-
Name Value of Options Tim Moran \$118,044 Kelly Ross \$22,800
The remuneration details of the executive officers for the year ending 30 June 2003 was as follows:-
| Name | Salary | Superannuation Non-Cash Benefits | Options | Total | |
|---|---|---|---|---|---|
| Tim Moran | 160.000 | 14.400 | $\overline{\phantom{a}}$ | 118,044 | 292,444 |
| Kelly Ross | 110.505 | 8.458 | 9.730 | 22,800 | 151.493 |
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CHRISTOPHER BONWICK Managing Director
PO Box 893, South Perth, Western Australia, 6951 Phone: (08) 9367 2755 Facsimile: (08) 9367 3288 Email: [email protected] Website: www.independencegold.com.au