NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the period ended 28 July 2018 H5 REMUNERATION OF AUDITORS During the period, the following fees were paid or payable for services provided by the auditor of the Group, and its related practices: 2018 2017 $ $ (a) PwC Australia (i) Assurance services Audit services Audit and review of financial statements 487,095 374,848 Other assurance services Audit of rent certificates 48,232 46,002 Total remuneration for audit and other assurance services 535,327 420,850 (ii) Taxation services Tax compliance services 2,400 2,100 (iii) Other services Legal services 175,855 9,026 Consulting services 343,676 - Total remuneration of PwC Australia 1,057,258 431,976 (b) Overseas practices of PwC (i) Assurance services Audit services Audit and review of financial statements 66,888 65,797 (ii) Taxation services Tax compliance services 13,620 27,852 Total remuneration for overseas practices of PwC 80,508 93,649 H6 EVENTS OCCURRING AFTER THE REPORTING PERIOD Dividends on the Company's ordinary shares The directors have determined that no final dividend will be payable for the period ended 28 July 2018. Refinancing On 11 September 2018, the Group entered into a binding term sheet with its financiers in relation to a refinancing of its syndicated facility now totalling $400 million. The key terms of the binding term sheet, which is only subject to definitive documentation, are noted below: (a) Structure of debt Amount Term Expiry date Amortising term loan facility - Tranche A $100 million 2.5 years February 2021 Revolving working capital facility - Tranche B $300 million 2.5 years February 2021 Total syndicated facility $400 million Tranche A steps down by $10m semi-annually, to commence after 6 months. Tranche B steps down to a limit of $260m, after 18 months. (b) Security The facility is secured, subject to various representations, undertakings, events of default and review events which are usual for a facility of this nature. (c) Debt covenants Under the terms of the syndicated facility, the Group is required to comply with the following financial covenants: Covenant Leverage Ratio ≤ 2.25x Fixed Charges Cover Ratio (0 - 6 months) ≥ 1.40x Fixed Charges Cover Ratio (7 - 18 months) ≥ 1.45x Fixed Charges Cover Ratio (19 - 30 months) ≥ 1.50x Minimum Shareholders' Funds ≥ $400 million Myer Annual Report 2018 83