text: **7. RELATED PARTY TRANSACTIONS**
  
  The directors of Mermaid Marine Australia Limited during the Financial Year were: 
  
  A G Birchmore 
  J H Carver 
  D A Dillon 
  J A S Mews  (appointed 12 August 1998) 
  (appointed 29 June 1998) 
  (appointed 12 August 1998) 
  (appointed 12 August 1998) 
  
  Interest in the shares of the Company held by directors and their director related entities as at 30 June 2000. 
  
  **Mermaid Marine Australia Limited**
  
  **Ordinary Shares**
  
  **Options over**
  **Ordinary Shares**
  
  A G Birchmore 
  J H Carver 
  D A Dillon 
  J A S Mews  13,695,300 
  13,631,300 
  1,520,000 
  1,500,000  382,000 
  20,000 
  10,000 
  – 
  
  The following related party transactions occurred during the Financial Year: 
  
  **Transactions with directors and director related entities**
  
  During the Financial Year, a total of $75,000 for directors fees was paid to Chalfont Holdings Limited, a 
  related entity of A G Birchmore. This is reflected in full in note 24 – Remuneration of Directors. 