Ann: Quarterly Activities Report, page-91

15 Aug 2013
"2. Approval for the issue of Shares in lieu of Directors Fees to Richard Anthon"
“That in accordance with Chapter 2E of the Corporations Act 2001 and ASX Listing Rule 10.11 and for all other purposes, the issue to Richard Anthon of 10,166,667 Shares in lieu of unpaid Director’s Fees as set out in the Explanatory Statement, at an issue price of $0.015, be approved.”

10,166,667 shares @ $0.015/share = $152,500

Was this remuneration paid (whilst supposedly representing the best legal interests of LNY shareholders), at a time a third party (ASIC) felt it necessary to intervene?

Richard Anthon is engaged by LNY (to represent the shareholders), in the dual role of legals and Director (fiduciary).

Annexure - dated 12 June 2013

"Australian Securities and Investments Commission Act 2001 (Cth)
Section 201A
Undertaking

Laneway Resources Limited
Laneway Resources Limited (Laneway) undertakes to the Panel that the commencement date for renounceable rights trading and the record date in relation to the 16 for 1 rights issue announced by Laneway on 6 June 2013 will not occur until after the earlier of:

1. the Panel deciding not to conduct proceedings in relation to this matter and
2. if the Panel decides to conduct proceedings, the determination of those proceedings.

Laneway agrees to confirm in writing to the Panel when it has satisfied its obligations under this undertaking.

Signed by Richard Anthon, Director of Laneway Resources Limited
with the authority, and on behalf, of
Laneway Resources Limited
Dated 12 June 2013"

Richard Anthon is paid (by shareholders) to guard the best interests of Laneway Resources' shareholders.

Was the Company Secretary/CFO also remunerated during this same period. Consultants should not be paid if a regulatory third party (ASIC), finds a need to intervene.


This smacks of a boys club!

PS, lets not forget the Winding up Order by the Commissioner of State Revenue on 25/08/2015. All LNY remunerated directors and LNY consultant Executive Chairman and Company secretary still picked up their pay (including our legal team - Rick). FFS!!!!