page 29 "During the six months ended June 30, 2014, the corporate management and service fees charged to us [Legend] by Axis was A$237,000 (2013: A$412,000). Axis charged us direct costs of A$478,000 (2013): A$524,000 (for Directors’ fees, salaries and salary related matters incurred on behalf of the Company, which relates to our share of salaries paid to the president and chief executive officer, chief financial officer and secretary, executive general manager, general manager business, project manager, and other staff of Axis who provide services to the company, and for independent directors’ fees."
page 30 "That on 25 March 2014 the company and AXIS entered into a loan agreement and guarantor security deed which was to be repaid on 25 March 2015. During the six months ended 30 June 2014 AXIS charged the company $785,000 for management and administration services and $500,000 for exploration and development services."
This sounds rather familiar to me.
Legend was put into liquidation in 2016.
MED Price at posting:
0.6¢ Sentiment: None Disclosure: Not Held
