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Notes to the Consolidated Financial Statements31 December 2024ESR Group Limited Annual Report 2024229STRATEGIC REPORTSCORPORATE GOVERNANCEFINANCIAL STATEMENTS39.RELATED PARTY TRANSACTIONS (continued)(c)Compensation of key management personnel of the Group:20242023US$%u2019000US$%u2019000Short term employee benefits10,7479,836Pension scheme contributions6043Share-based compensation expense2,6153,495Total compensation paid to key management personnel13,42213,374(d)Loans to DirectorsLoans to Directors, disclosed pursuant to section 383(1)(d) of the Hong Kong Companies Ordinance and Part 3 of the Companies (Disclosure of Information about Benefits of Directors) Regulation, are as follows:NameAt 1 January 2023Maximum amount outstanding during the yearAt 31 December 2023 and 1 January 2024Maximum amount outstanding during the yearAt 31 December 2024US$%u2019000US$%u2019000US$%u2019000US$%u2019000US$%u2019000Mr Stuart Gibson4,6005,2445,2445,383%u2013Mr Charles Alexander Portes4,6005,2445,2445,383%u2013Loans granted to directors bear interest at SOFR plus 4% (2023: SOFR plus 4%) per annum, and they are unsecured. The loans were fully repaid during the financial year ended 31 December 2024. Loans to Directors and the related interest receivables were included in the balance of prepayments, other receivables and other assets as of 31 December 2023.