61 / 86
RACING AUSTRALIA ANNUAL REPORT 2016
| 59
Education Springfield Limited, Former NED & Chairman
Audit & Risk Management Committee, Mastermyne
Group Ltd, Former Partner, Corporate Advisory and
Restructuring, PWC.
Samuel Adams – Alternate Director
(Appointed 27-04-2016)
Head of Corporate & Strategy Racing Queensland,
Former Acting CEO, Racing Queensland, Director
Framelocker, Former Director Brisbane Racing Club.
Robert Pearson – Director
Deputy Chairman Racing and Wagering Western
Australia, Chairperson and Managing Director Statewide
Oil Distributors, Vice Patron of East Perth Football Club,
Former Principal Director, Australian Racing Board,
Former Chairman, Australian Racing Board, Former
Director, Racing Information Services Australia, Former
President , East Perth Football Club, Former Committee
Member, WATC, Former Director, WA Betting Control
Board, Former Director, WA Swimming Association,
Former Director, WA TAB Board, Former Executive
Director Asian Racing Federation.
John Yovich – Alternate Director
Perth Racing Managing Director, Former General
Manager Racing, Racing and Wagering Western
Australia, Former Vice Chancellor and President,
Murdoch University, Former Executive Dean Veterinary
and Biomedical, Murdoch University.
Desmond Gleeson – Director
Director, Tasracing, Former Member Match Review Panel,
AFL, Former Director Integrity Services / Chairman of
Stewards, Racing Victoria Limited.
Myles Foreman – Company Secretary
Operations Chief Executive Officer and Company
Secretary Racing Australia Limited, Australian Genetics
Testing Pty Ltd, Thoroughbred Trainers Service Centre
Limited.
DIRECTORS REPORT
continued
Racing Australia Limited
| ACN 105 994 330 and Controlled Entities | Annual Report for the Financial Year Ended 30 June 2016
DIRECTORS’ MEETINGS
During the financial year, 5 meetings of the directors were
held. Attendances by each director were as follows:
Directors
Eligible
to Attend Attended
John Messara AM
5
5
Frances Neslon QC
5
4
James Watters – Alternate Director
1
1
David Moodie
5
5
Steven Wilson AM
2
2
Ian Hall
3
3
Samuel Adams – Alternate Director
1
1
Robert Pearson
4
4
John Yovich – Alternate Director
1
1
Desmond Gleeson
5
5
Company Secretary
Myles Foreman
5
5
REVIEW OF OPERATIONS
The surplus of the consolidated entity for the financial
year amounted to $2,936,055 (2015: $2,740,334 surplus).
A review of the operations of the consolidated entity
during the financial year and the results of those operations
found that during the year, the consolidated entity
continued to engage in its principal activity, the results
of which are disclosed in the attached financial statements.
The Thoroughbred Trainers Service Centre Limited
operates based on a letter of financial support from
Racing Australia Limited until such time as it becomes
cash positive. A new letter of financial support in
conjunction with a Deed of Subordination between ASIC,
Racing Australia Limited and the Thoroughbred Trainers
Service Centre Limited was executed for a further
2 years commencing 1 July 2016. The Thoroughbred
Trainers Service Centre Limited trades as a separately
registered company as the holder of an Australian
Financial Services licence.
Australian Genetics Testing Pty Ltd will cease operations
in 2016/2017 with the company’s operations being
merged into Racing Australia Limited.