Triple Energy : 2021 Annual Report to shareholders

For personal use only

Triple Energy Limited

ABN 68 116 829 675

Annual Report

31 March 2021

For personal use only

Contents

Corporate Information

Directors' Report

Auditor's Independence Declaration

Consolidated Statement of Comprehensive Income

Consolidated Statement of Financial Position

Consolidated Statement of Changes in Equity

Consolidated Statement of Cash Flows

Notes to the Financial Statements

Directors' Declaration

Independent Auditor's Report

Additional ASX Information

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For personal use only

DIRECTORS' REPORT

CORPORATE INFORMATION

ABN 68 116 829 675
Directors
Current Directors
Mr Murray d'Almeida	Chairman and Independent Non-Executive Director
Mr Paul Garner	Independent Non-Executive Director
Mr Avon McIntyre	Executive Director
Mr Po Siu Chan	Executive Director
Company secretary
Mr Alex Neuling

Registered office and Principal place of business

Unit 9, 335 Hay Street, Subiaco WA 6008

PO Box 899, Cottesloe WA 6011

Telephone:	[phone]
Facsimile:	[phone]

Postal address:

PO Box 807

SUBIACO

WA 6904

Share register

Advanced Share Registry Limited

110 Stirling Highway

Nedlands WA 6009

Solicitors

Steinepreis Paganin

Level 4, Next Building

16 Milligan Street

PERTH WA 6000

Bankers

National Australia Bank

Level 1, 1238 Hay Street

WEST PERTH WA 6005

Auditors

HLB Mann Judd WA

Level 4, 130 Stirling Street

PERTH WA 6000

Website www.hyterra.com.au

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DIRECTORS' REPORT

For personal use only

Your directors submit their annual financial report of the Group consisting of Triple Energy Limited ('Triple') and its controlled subsidiaries for the financial year ended 31 March 2021. In order to comply with the provisions of the Corporations Act 2001, the directors report as follows:

Directors

The names of directors who held office during or since the end of the year and until the date of this report are as follows. Directors were in office for this entire period unless otherwise stated.

Current Directors
Mr Murray d'Almeida	Chairman and Independent Non-Executive Director
Mr Po Siu Chan	Executive Director (appointed 27 January 2021)
Mr Paul Garner	Independent Non-Executive Director (appointed 10 September 2021)
Mr Avon McIntyre	Executive Director (appointed 24 February 2022)
Previous Directors in office during all or part of year ended 31 March 2021
Mr Chris Berkefeld	Independent Non-Executive Director (resigned 18 December 2020)
Mr Colin Hiles	Non-Executive Director (appointed 27 January 2021, resigned 23 June 2021)
Ms Fung Ming Pang	Non-Executive Director (appointed 27 January 2021, resigned 31 May 2021)
Mr Tun Yiu (Michael) Kei	Executive Director (resigned 10 September 2021)
Mr Tim Bardwell	Non-Executive Director (appointed 21 September 2020, resigned 27 January 2021)
Mr Francis Lim	Non-Executive Director (appointed 21 September 2020, resigned 27 January 2021)
Mr HongBing Zhang	Non-Executive Director (resigned 21 September 2020)
Ms Ruo Yun Zhang	Non-Executive Director (resigned 21 September 2020)

Names, qualifications, experience and special responsibilities

CURRENT DIRECTORS

Mr Murray d'Almeida

Independent Chairman and Non-Executive Director (Appointed 18 July 2017)

Mr d'Almeida has over 35 years of diverse national and international business experience. He commenced his career in Perth with a firm of Chartered Accountants before moving into a broad range of commercial and financial reporting positions with two major USA based mining companies. He founded the Australian and international retailer Retail Food Group, and developed their presence in seven overseas countries. He has maintained operating and board positions within a range of financial services, mining, commercial academic, government, sporting businesses and organisations.

Mr d'Almeida is currently chairman chairman of Barrack Street Investments Limited, Deputy Chancellor of Southern Cross University and a director of Global Masters Limited.

During the three years to balance date Mr D'Almeida has also served as a Director of IncentiaPay Limited (from July 2014 until September 2018).

Mr Paul Garner

Non-Executive Director (Appointed 10 September 2021)

Mr Garner has over 20 years' experience in the oil and gas industry having served on the boards of several public listed companies. He was most recently a non-executive director at Provaris Energy Ltd (formerly Global Energy Ventures Ltd), an ASX listed company in the business of natural gas and hydrogen. Prior to his involvement in the Oil & Gas industry, he spent several years in international business, property, and equity markets. Mr Garner has an extensive knowledge of capital markets, upstream drilling operations and business development in the rapidly evolving new energies sector.

During the three years to balance date Mr Garner has served as a Director of IncentiaPay Limited as noted above and no other listed companies..

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DIRECTORS' REPORT

For personal use only

CURRENT DIRECORS (CONTINUED)

Mr Avon McIntyre (Appointed 24 February 2022)

Chief Technical Officer and Executive Director

Mr McIntyre (PhD) is a geologist with 20 years experience in both minerals and oil and gas exploration industries, with roles in government, service and operating companies. He worked for Shell Development Australia and Shell International in new ventures and new energies from 2008 to 2021, during which time he developed an interest in natural hydrogen occurrences. He has been providing consulting services on an exclusive basis to TNP since October 2021 through his company McIntyre Geological Services Pty Ltd.

During the three years to balance date Mr McIntyre has not served as a Director of any other listed companies.

Mr Po Chan (appointed 27 January 2021)

Executive Director

Mr Chan has previously served as a Triple Director from Feb 2015 to Feb 2017 and was reappointed in January 2021. He is a fellow of Chartered Accountants Australia and New Zealand and is a Director of Afanti Asset Management in Hong Kong. Mr Chan has experience in business consulting and investment banking in China and the Asia Pacific region. Mr Chan has held roles as a Director at PwC in the Advisory division and as a Senior Manager at ANZ in its Project Finance division and has significant experience in transactions in China and Asia Pacific. He holds a Masters Degree in Commerce (specialized in Banking and Finance) from the University of New South Wales in Sydney and a Bachelor Degree in Commerce from the University of Sydney in Sydney.

During the three years to balance date Mr Chan has not served as a Director of any other listed companies.

FORMER DIRECTORS

Mr Chris Berkefeld

Independent Non-executive Director (Appointed 18 July 2017, resigned 18 December 2020)

Mr Berkefeld has over 20 years' experience on public and private company boards in New Zealand and Australia. His background is in industrial, waste and mining services in Australia along with engineering and heavy transportation services in Europe and Asia. He was with services company Brambles for 25 years and ran the waste management and industrial services businesses upon their sale to a private equity group in 2006.

Mr HongBing Zhang (Appointed 15 May 2019, resigned 21 September 2020)

Non-executive Director

Mr Zhang holds a bachelors degree in economics from the Beijing Second Language Institute and an EMBA from the Southwestern University of Finance and Economics. He has broad commerce experience within the Peoples Republic of China (PRC) gained over close to 30 years, including international trading in commodities (including downstream petroleum products) and most recently a marketing and sales role across 10 provinces in Northern China.

Ms RuoYun Zhang (Appointed 15 May 2019, resigned 21 September 2020)

Non-executive Director

Ms Zhang holds a bachelors degree in accounting from the George Washington University School of Business in the United States and has held finance and Risk Advisory roles since graduation.

During the three years to balance date Ms. Zhang has not served as a Director of any other ASX listed company.

Mr Francis Lim (Appointed 21 September 2020, resigned 27 January 2021)

Non-executive Director

Mr Lim is a 30 year veteran in the structuring and negotiation of cross border business transactions from JV/M&A to complex infrastructure purchase agreements across Asia Pacific Region Francis holds an M.Sc. in Finance, with a focus in Corporate Finance from the University of Science & Technology in Hong Kong and a B.Sc. Chemical Engineering from the University of Wisconsin at Madison.