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## DIRECTORs’ REPORT 

In July 2013, the Group entered into a new loan facility for NZ$40 million. The loan facility is available to the Group until July 2015. 

On 13 August, the Group entered into an agreement to sell InvestSMART to Australasian Wealth Investments Limited (AWI) for cash consideration of $7 million. The completion of the transaction is dependent on a capital raising process by AWI. 

## REMUNERATION REPORT 

A remuneration report is set out on pages 29 – 44 and forms part of this Directors’ Report. 

## DIRECTORS’ INTERESTS 

The relevant interest of each Director in the equity of the Company and related bodies corporate as at the date of this report is: 

<img src='content_image/201857.jpg'>

* Balance includes Trade Me shares which was a related body corporate until 21 December 2012. 

In the case of retired Directors, the closing balance represents the number of shares at the date the Director retired from the Board. 

No Director holds options over shares in the Company. 

## DIRECTORS’ MEETINGS 

The following table shows the number of Board and Committee meetings held during the financial year ended 30 June 2013 and the number attended by each Director or Committee member. 

<img src='content_image/201858.jpg'>

* The number of meetings held refers to the number of meetings held while the Director was a member of the Board or Committee. 

** Mr Corbett, Chairman, is an ex officio member of all Board committees. 

*** Mr Hywood attends the Audit and Risk, People and Culture and Sustainability and Corporate Responsibility Committee meetings as an invitee of the Committees. 

