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## 20. KEY MANAGEMENT PERSONNEL DISCLOSURES - continued 

## Other transactions with key management personnel 

Apart from the details disclosed in this note, no director has entered into a material contract with the company or the consolidated entity since the end of the previous financial year and there were no material contracts involving directors’ interests existing at year-end. 

A number of key management persons, or their related parties, hold positions in other entities that result in them having control or significant influence over the financial or operating policies of those entities. Transactions between related parties are on normal commercial terms and conditions unless otherwise stated. 

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## 22. CONTINGENCIES 

The Group has entered into three lump sum contracts for the design, supply, construction and services related to the development of the Central Ashanti Gold Project. Notwithstanding the fixed price nature of the contracts, during and after the term of the contracts, claims may be made by the contractors for additional costs associated with changes in scope of work, valid extensions of time or similar. 

There were no known contingent liabilities which were not provided for in the financial statements of the Group as at 30 June 2011. 

