LENMED AIR 2019.pdf

26. Directors’ emoluments Figures in R’000 For services as directors Short term employee benefits Bonuses Long term incentive bonus Total 2019 Mr P Devchand - 4 100 2 255 3 016 9 371 Mr A Devchand - 3 180 1 885 1 206 6 271 Mr V E Firman - 3 186 1 950 780 5 916 Prof B D Goolab 421 - - - 421 Mr M G Meehan 447 - - - 447 Ms B Harie 431 - - - 431 Ms N V Simamane 436 - - - 436 1 735 10 466 6 090 5 002 23 293 2018 Mr P Devchand - 4 100 3 800 3 241 11 141 Mr A Devchand - 2 900 2 300 1 296 6 496 Mr V E Firman - 3 000 2 400 435 5 835 Prof B D Goolab 265 - - - 265 Mr M G Meehan 364 - - - 364 Ms B Harie 364 - - - 364 Ms N V Simamane 351 - - - 351 1 344 10 000 8 500 4 972 24 816 The remuneration of the directors as per the above schedule was determined by the Remuneration Committee. Refer to the Remuneration Report in the annual integrated report for disclosure relating to Share Appreciation Rights awarded to directors. 27. Contingent liabilities Certain Compensation for Occupational Injuries and Diseases (COID) debtors are factored between 83% and 84% of their original value. The factoring houses have recourse should they not be able to recover the debt. The total funds received but still open to recourse amounted to R12.239 million as at reporting date (2018: R16.187 million). A provision has been created of R1.1 million for current and pending legal cases and reflected within other provisions (note 23). The Group is not aware of any other current or pending legal cases that would have a material adverse effect on the Group. 28. Related party transactions The holding company, directors and subsidiaries are disclosed in the report of the directors. Transactions and balances between the Group and its subsidiaries, which are related parties of the Group, have been eliminated on consolidation. The Group paid rentals to a non-subsidiary related party property company amounting to R1.560 million (2018: R1.367 million). The directors deem this rental to be market-related. The remuneration and benefits received by the directors are disclosed in note 26. LENMED ANNUAL INTEGRATED REPORT 2019 115