Note 31 - Related Party Transactions

12 Months Ended

Mar. 31, 2018

Statement Line Items [Line Items]

Disclosure of related party [text block]

31 RELATED PARTY TRANSACTIONS

Balances and transactions between the Company and its subsidiaries, which are related parties, have been eliminated on consolidation and are

not

disclosed in this note.

The following table discloses the remuneration of the Company’s Directors during the period.

Director	Base salary/ NED fees $		Annual Bonus (2) $		COMPENSATION FOR LOSS OF OFFICE $		Year Ended MARCH 31, 2018 Total $		Year Ended MARCH 31, 2017 Total $
Highest Paid Director:
Subhransu Mukherjee (resigned July 19, 2017)		212,790		200,000		740,667		1,153,457		855,000
Executive Directors:
Edward Reginelli (appointed September 29, 2017)		181,500		75,000		—		256,500		—
Edward (“Ted”) Hastings (resigned May 25, 2018)		377,699		—		—		377,699		34,000
Non-Executive Directors: (1)
Raj Chellaraj		105,735		—		—		105,735		104,000
Suranga Chandratillake (resigned February 2, 2018)		58,742		—		—		58,742		65,000
Andy Cunningham (resigned February 2, 2018)		58,742		—		—		58,742		65,000
Ujjal Kohli		70,490		—		—		70,490		65,000
Mark Opzoomer (3)		84,588		—		—		84,588		65,000
Eric Singer (appointed February 2, 2018)		18,797		—		—		18,797		—
John Mutch (appointed February 2, 2018)		11,748		—		—		11,748		—
Aggregate emoluments		1,180,831		275,000		740,667		2,196,498		1,253,000

( 1 ) Non-Executive Directors’ fees are set at £50,000 for all Directors except for the Chairman of Board whose fees are set at £80,000. The above table includes the value in $ using an exchange rate of $1.4098 to £1.

( 2 ) Bonus payments are made to Executive Directors only and are determined based on the following performance conditions: individual Executive Directors’ Management Business Objectives (“ MBOs ”) and Company operating performance. There was no bonus earned in FY2018. Mr. Edward Reginelli’s bonus payment during FY2018 related to a sign on incentive and Mr. Mukherjee’s bonus related to his separation agreement.

( 3 ) Fees paid to Mr. Opzoomer include UK VAT.

None

of the Directors had pension, retirement benefits or similar entitlement.

Details of options and RSUs for Directors who served during the year are as follows:

DIRECTOR	SCHEME(S)	AT MARCH 31, 2017 RESTATED NUMBER		GRANTED NUMBER		VESTED NUMBER			EXERCISED		AT MARCH 31, 2018 NUMBER
Edward (“Ted”) Hastings (resigned May 25, 2018)	RSUs		—		563,538		—			—		563,538
Ed Reginelli	RSUs		—		292,611		(48,866	)		—		243,745
Subhransu Mukherjee (resigned July 19, 2017)	Options		908,000		—		—			—		908,000
Suranga Chandratillake (resigned February 2, 2018)	Options		175,213		—		—			—		175,213

Mr. Mukherjee’s options will expire on

July 19, 2018

if

not

exercised.

Per the terms of Mr. Hasting’s separation agreement,

25%

of his grant was agreed to be under an accelerated vest schedule, with the remaining of the shares being canceled.

Long-Term Incentives

Details of the contractual RSU awards and long-term incentive awards vesting during the year are as follows:

DIRECTOR	SCHEME(S)	NUMBER VESTED		MARKET PRICES AT AWARD DATE (in pound sterling)		RANGE OF MARKET PRICES AT VESTING DATE (in pound sterling)
Edward Reginelli	RhythmOne 2017 International Equity Incentive Plan RSUs		48,866	£	1.72	£1.72	-	1.75
Total			48,866