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REMUNERATION OF KEY MANAGEMENT PERSONNEL
 12 Months Ended
Mar. 31, 2022
Remuneration Of Key Management Personnel  
REMUNERATION OF KEY MANAGEMENT PERSONNEL

 

7. REMUNERATION OF KEY MANAGEMENT PERSONNEL

 

Directors of the Group and Company received the following remuneration during the years ending March 31 2021 and 2020:

 

   Year ended March 31, 
   2022   2021 
   Directors’
fees		   Bonus   Salary   Share based payment expenses   Directors’
fees		   Bonus   Salary   Share based payment expenses 
G. Cerrone (1)   164    -    -    -    35    1,160    -    - 
G Jacob (2)   -    75    350    1,579    -    41    85    468 
W Simon   44    -    -    1    42    -    -    2 
K. Shailubhai (6)   18    -    -    (15)   37    -    -    17 
J Brancaccio (3)   42    -    -    20    31    -    -    16 
G Macrae (4)   -    -    -    -    13    -    -    - 
B Denoyer (5)   15    -    -    4    -    -    -    - 
    283    75    350    1,589    158    1,201    85    503 

 

   Year ended March 31, 
$’000  2020 
   Directors
fees		   Bonus   Salary   Share based
payment
expenses		 
                 
W Simon   41    -    -    4 
K. Shailubhai (6)   38    -    -    31 
G Macrae (4)   8    -    -    - 
L Zambeletti (7)   36    -    -    6 
    122    -    -    41 

 

(1) Gabriele Cerrone’s bonus awarded for $1,160k was awarded on the basis of the co-invention of the use of Chemerin in the COVID-19 indication when he was not a director or employee of the Company (now the subject of a patent application); work carried out in procuring, backing and completing the refinancing the Company in 2020 and actions taken to make new executive appointments and scientific advisory appointments to the Board with the result that the Company now has a clear and accelerated path to the clinic.
   
(2) Gary Jacob became an employee and Director of the Company on 7 January 2021
   
(3) John Brancaccio was appointed as Director on 10 June 2020
   
(4) Gregor Macrae was appointed as Director on 18 December 2019 and resigned on 10 June 2020
   
(5) Bernard Denoyer was appointed as Director on 24 November 2021
   
(6) K Shailubhai resigned as Director on 17 June 2021
   
(7) Leopoldo Zambeletti resigned as Director on 18 December 2019

 

 

The following share options were granted to Directors in the year:

 

   2022   2021   2020 
   Number of
options		   Number of
options		   Number of
options		 
             
J Brancaccio   325,000    450,000    - 
G Jacob   3,250,000    40,000,000    - 
B Denoyer   1,000,000    -    - 
    4,575,000    40,450,000           - 

 

No director has yet benefitted from any increase in the value of share capital since issuance of the options and no director exercised share options in the year.

 

The Key Management Personnel of the Group are members of the leadership team who have the authority and responsibility for planning, directing and controlling the activities of the Group either directly or indirectly. They include all Directors of the Board (executive and non-executive). Key Management Personnel compensation is set out below.

 

   2022   2021   2020 
   $’000   $’000   $’000 
                
Short-term employee benefits   1,026    1,455    351 
Share based payments   1,815    515    41 
                
Total   2,841    1,970    392