FE Limited
ABN 31 112 731 638
AND CONTROLLED ENTITIES
ANNUAL REPORT 2016
CORPORATE DIRECTORY
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Australian Business Number
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31 112 731 638
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Country of Incorporation
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Australia
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Board of Directors
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Antony Sage Mark Gwynne Paul Kelly
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Non-Executive Chairman Executive Director
Non-Executive Director
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Company Secretary
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Eloise von Puttkammer
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Principal Administrative Office and Registered Office
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32 Harrogate Street
West Leederville, WA 6007
Telephone: Facsimile:
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+61 (0)8 6181 9793
+61 (0)8 9380 9666
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Share Registry
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Link Market Services Level 4 Central Park 152 St Georges Terrace Perth WA 6000
Telephone:
Website:
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1300 554 474 (in Australia)
+61 (2) 9280 7111 (outside Australia)
www.linkmarketservices.com.au
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Auditors
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Ernst & Young
11 Mounts Bay Road Perth, WA 6000
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ASX
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Fe Limited's fully paid ordinary shares are quoted on the Official List of ASX. The ASX code is FEL.
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Contents Annual Report 2016
CONTENTS
DIRECTORS' REPORT 2
AUDITOR'S INDEPENDENCE DECLARATION TO DIRECTORS 15
CORPORATE GOVERNANCE STATEMENT 16
STATEMENT OF COMPREHENSIVE INCOME 17
STATEMENT OF FINANCIAL POSITION 18
STATEMENT OF CHANGES IN EQUITY 19
STATEMENT OF CASH FLOWS 20
NOTES TO THE FINANCIAL STATEMENTS 21
DIRECTORS' DECLARATION 49
INDEPENDENT AUDITOR'S REPORT 50
SCHEDULE OF TENEMENTS 52
ADDITIONAL SHAREHOLDER INFORMATION 53
DIRECTORS' REPORT
The directors of Fe Limited ("FEL" or the "Company") present their report and the financial statements comprising FEL and its controlled entities (together the "Consolidated Entity") for the year ended 30 June 2016 ("year").
DIRECTORS
The names and details of the Company's directors in office during the year and until the date of this report are as follows. All directors were in office for the entire period unless stated otherwise.
Antony Sage, (B com, FCPA, CA, FTIA) Non-Executive Chairman
Mr Sage has in excess of 30 years' experience in the fields of corporate advisory services, funds management and capital raising. Mr Sage is based in Western Australia and has been involved in the management and financing of listed mining and exploration companies for the last 20 years. Mr Sage has operated in Argentina, Brazil, Peru, Romania, Russia, Sierra Leone, Guinea, Cote d'Ivoire, Congo, South Africa, Indonesia, China and Australia. Mr Sage is currently chairman of listed ASX-listed companies, Cape Lambert Resources Ltd (which was AIM Company of the year in 2008), Cauldron Energy Ltd and Fe Ltd. Mr Sage is also a Non-Executive Director of National Stock Exchange of Australia ("NSX") listed International Petroleum Ltd. Mr Sage is also the sole owner of A League football club Perth Glory that plays in the National competition in Australia. Mr Sage currently is, or has been a director of the following listed entities in the three years immediately before the end of the current financial year:
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Cape Lambert Resources Limited (December 2000 to Present);
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International Petroleum Limited* (January 2006 to Present);
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Cauldron Energy Limited (June 2009 to Present);
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Kupang Resources Limited** (September 2010 to August 2015);
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Caeneus Metals Limited (December 2010 to January 2016); and
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Global Strategic Metals Limited*** (June 2012 to August 2014).
* Listed on National Stock Exchange of Australia
** Company was delisted August 2015
*** Company was delisted August 2014
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Interest in Shares & Options:
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2,071,699 fully paid ordinary shares (indirectly held)
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Mark Gwynne, Executive Director
Mr Gwynne has been involved in gold exploration and mining for over 20 years', predominantly in Western Australia. Mr Gwynne has held management positions on mine sites and in the private sector of the mining industry, including general manager of an exploration consultancy company. Mr Gwynne is currently a director or has been a director of the following listed companies in the three years immediately before the end of the current financial year:
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Iron Mountain Mining Limited (May 2014 to Present);
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Cauldron Energy Limited (June 2015 to Present); and
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Kupang Resources Limited (January 2013 to August 2013).
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Interest in Shares & Options:
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None
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Paul Kelly, Non-Executive Director
Mr Kelly has more than 20 years of experience in the fields of finance, investment, banking and property development. Mr Kelly was previously National Manager of Advertising and Sponsorship for Members Equity Bank and has held a number of senior roles with the bank over a 15 year period. Mr Kelly is currently involved in the generating business in Asia, notably Malaysia, Singapore and Hong Kong. Mr Kelly is not currently a director or has been a director of any other listed companies in the three years immediately before the end of the current financial year.
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Interest in Shares & Options:
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None
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COMPANY SECRETARY
Eloise von Puttkammer
Ms von Puttkammer has many years of experience in the finance and investment industry. Over the past 12 years' she has held administration, compliance, and company secretarial roles within both private and public companies. She has also had experience in the provision of governance and secretarial advice to ASX and AIM listed companies.