N O T E S T O T H E F I N A N C I A L S TAT E M E N T S For the year ended 30 June 2012

29. reLateD partY tranSaCtionS (ContinueD)

van eyk On 28 October 2011, the Group advanced an interest free loan of AU$1 .8 million (NZ$2 .34 million) to Van Eyk . The loan is repayable on demand and was outstanding at balance date . On 20 April 2011, the Group advanced AU$0 .9 million (2012: NZ$1 .26 million, 2011: NZ$1 .19million) to an associated party of Van Eyk . The loan is repayable on demand, accrues interest at 8% per annum and was outstanding at balance date . A further advance was made to Van Eyk of AU$7 .2 million (NZ$9 .4 million) subsequent to year end refer note 39 . Other Related Parties torchlight Fund no.1 Lp (tLp) TLP is considered a related party because the controlling person of PGC is a member of the key management personnel of TLP . The Group as manager of TLP receives management, investment acquisition and performance fees from TLP . In addition, the Group has a partnership interest of 10% in TLP and has advanced funds . During the year ended 30 June 2012, a receivable of $4 .75 million was acquired from TLP at fair value . Management fees are equal to 1 .85% per annum of total committed capital until the end of the Investment Period (three years from 26 October 2010, unless terminated earlier by the manager or extended by the advisory committee) and 1 .85% per annum of the invested capital thereafter . Investment acquisition fees are 1 .5% of the purchase price of investments made and performance fees are 20% of returns in excess of 8% per annum paid to Limited Partners on a pro rata basis . Total fees recognised during the year ended 30 June 2012 were $2 .8 million (2011: $4 .6 million) . At balance date, the amount receivable from TLP was $16 .2 million (2011: $0 .8 million) . Of the outstanding balance $9 .1 million is interest free with the remaining $7 .1 million accruing interest at 9% . On 22 March 2012 and 26 March 2012, the Group paid $0 .95 million and $0 .45 million respectively to facilitate additional investment in TLP by an unrelated party which was guaranteed in full by TLP . This was repaid in full subsequent to balance date . Fund management fees Fees of $6 .8 million were received by the Perpetual Group segment for fund management services provided during the year ended 30 June 2012 (2011: $5 .3 million) . In addition, the Perpetual Group has paid expenses on behalf of Funds which are subsequently reimbursed . The amounts receivable at 30 June 2012 were $0 .2 million (2011: amount payable $0 .3 million) . Former Related Parties There were a number of transactions during the year ended 30 June 2011 with MARAC entities who were considered related parties of the Group at the time of the transactions . Following the Groups disposition of its shareholding in BSHL, these entities were no longer considered related parties . Details of these transactions are provided in note 37 .

52 PYNE GOULD CORPORATION LIMITED ANNUAL FINANCIAL REPORT 2012