Cellmid 2018 Annual Report
20
DIRECTORS’
REPORT
CONTINUED
5. REMUNERATION REPORT (AUDITED)
The remuneration report details the key management personnel remuneration agreements for the Group in accordance with the
requirements of the Corporations Act 2001 and its regulations.
The information provided in this remuneration report has been audited as required by section 308 (3C) of the Corporations Act 2001.
The key management personnel of the Group for the year consisted of the following Directors of Cellmid Limited:
Principles used to determine the nature and amount of remuneration
The performance of the Group depends on the quality of its directors and executives. To prosper, the Group must attract,
motivate and retain highly skilled directors and executives. To this end, the Group embodies the following principles in its
remuneration framework:
• provide competitive rewards to attract high calibre executives; and
• if and when appropriate, establish performance hurdles in relation to variable executive remuneration.
The Board assesses the appropriateness of the nature and amount of remuneration of directors and senior managers of the Group
on a periodic basis by reference to relevant employment market conditions with the overall objective of ensuring maximum
stakeholder benefit from the retention of a high-quality Board and executive team.
Group performance and link to remuneration
No performance-based bonus or incentive payments have been made during the reporting period.
The table below details the last five years earnings and total shareholders return.
Name of Director Position Date Appointed Date Ceased
Dr David King Non-executive Chairman 18 January 2008 Current
Mr Bruce Gordon Non-executive Director 1 July 2015 Current
Dr Fintan Walton Non-executive Director 21 July 2015 Current
Dr Martin Cross Non-executive Director 16 October 2017 Current
Mr Dennis Eck Non-executive Director 26 March 2018 Current
Ms Maria Halasz CEO and Managing Director 14 April 2007 Current
$ $ $ $ $
2018 2017 2016 2015 2014
Revenue and Other Income 6,834,924 5,560,121 4,611,108 2,967,562 3,549,980
EBITDA (3,069,373) (4,022,577) (3,130,344) (3,174,838) (1,359,259)
EBIT (3,256,911) (4,191,100) (3,291,957) (3,306,176) (1,471,399)
Loss after income tax (3,732,615) (4,482,273) (3,498,916) (3,337,348) (1,480,836)