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o
m
£148,530
t
o
£887. T
he
de
cr
ea
s
e
is m
a
i
n
l
y
due
t
o
t
he
cl
o
s
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r
e
o
f
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o
f
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he
m
a
j
o
r c
u
s
t
o
m
e
rs
o
f
a
f
l
a
gs
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i
p
s
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si
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a
r
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o
f
t
he
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r
oup
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(
b
)
e
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C
o
mm
e
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e
T
he
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r
oup
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s
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v
e
l
op
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n
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he
e
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o
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e
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e
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si
ne
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and
r
e
c
o
r
ded
t
he
r
e
v
enue
f
r
o
m
e
-
C
o
mm
e
rc
e
o
f
£225,863
(
2021: £29,137
)
f
o
r
t
he
Y
ea
r. T
he
G
r
oup
ha
s
no
w
been
s
u
cc
e
ss
f
u
l i
n
s
e
c
u
ri
n
g
e
x
cl
u
si
v
e
d
is
t
ri
bu
t
i
on
c
on
t
r
a
c
t
s wi
t
h
a
nu
m
be
r
o
f
p
r
e
mi
u
m
b
r
and
s.
G
o
i
ng c
o
nc
e
rn
As
a
t
31
D
e
c
e
m
be
r 2022,
t
he
G
r
oup
ha
s c
a
s
h
and
c
a
s
h
equ
i
v
a
l
en
t
ba
l
an
c
e
s
and
ne
t
li
ab
ili
t
i
e
s
and
ne
t
c
u
rr
en
t
li
ab
ili
t
i
e
s
o
f
£35,567,£892,843
and
£922,437, r
e
s
pe
c
t
i
v
e
l
y
.
T
he
d
ir
e
c
t
o
r’s c
a
s
h
-f
l
o
w
p
r
o
j
e
c
t
i
on
s
f
o
r
t
he
f
o
r
t
h
c
o
mi
n
g 12 m
on
t
h
s c
on
cl
ude
t
he
r
e
will
be
t
he
need
f
o
r
add
i
t
i
ona
l
c
a
s
h
r
e
s
ou
rc
e
s
t
o
f
u
ll
y
im
p
l
e
m
en
t
t
he
bu
si
ne
ss
p
l
an
s. T
he
d
ir
e
c
t
o
rs
a
r
e
i
n
d
isc
u
ssi
on
s wi
t
h
a
nu
m
be
r
o
f
i
nd
i
v
i
dua
ls
t
ha
t
m
a
y
l
ead
t
o
f
u
r
t
he
r
equ
i
t
y
and
/
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r l
oan
s
be
i
n
g r
a
is
ed
. T
he
r
e
is
no
c
e
r
t
a
i
n
t
y
t
ha
t
an
y
s
u
c
h
f
und
s will
be
f
o
r
t
h
c
o
mi
n
g
o
r
t
he
p
ric
e
and
o
t
he
r
t
e
rms
be
i
n
g
a
cc
ep
t
ab
l
e
and
a
s s
u
c
h
t
he
r
e
is
a
m
a
t
e
ri
a
l
un
c
e
r
t
a
i
n
t
y
o
v
e
r g
o
i
n
g
c
on
c
e
r
n
.
4
S
E
A
L
A
ND
C
A
P
IT
A
L G
A
L
A
XY LI
M
ITE
D
D
IRECT
O
R
S
’RE
PO
RT
(
C
ON
TI
NU
E
D)
O
ur strat
e
gy
T
he
G
r
oup
is c
o
mmi
tt
ed
t
o
a
c
h
i
e
v
i
n
g l
on
g
t
e
rm s
u
s
t
a
i
nab
l
e
gr
o
w
t
h
o
f
i
t
s
bu
si
ne
ss i
n
o
r
de
r
t
o
p
r
e
s
e
r
v
e
and
enhan
c
e
s
ha
r
eho
l
de
rs’
v
a
l
ue
.T
he
G
r
oup
is
f
o
c
u
s
ed
on
s
e
l
e
c
t
i
n
g
a
tt
r
a
c
t
i
v
e
i
n
v
e
s
t
m
en
t
oppo
r
t
un
i
t
i
e
s
t
o
s
t
r
en
g
t
hen
and
e
x
t
end
i
t
s
bu
si
ne
ss sc
ope
,
and
ha
s m
a
i
n
t
a
i
ned
p
r
uden
t
and
d
isci
p
li
ned
f
i
nan
ci
a
l m
ana
g
e
m
en
t
t
o
en
s
u
r
e
i
t
s s
u
s
t
a
i
nab
ili
t
y
.
O
ut
l
oo
k
T
he
G
r
oup
will c
on
t
i
nue
t
o
m
on
i
t
o
r m
a
r
k
e
t
de
v
e
l
op
m
en
t
s
and
will m
ana
g
e
i
t
s
bu
si
ne
ss
e
s
and
i
n
v
e
s
t
m
en
t
po
r
t
f
o
li
o
wi
t
h
a
v
i
e
w
t
o
f
u
r
t
he
r im
p
r
o
v
i
n
g i
t
s
o
v
e
r
a
ll
a
ss
e
t
qua
li
t
y
and
po
t
en
t
i
a
l gr
o
w
t
h
. T
he
G
r
oup
will
a
ls
o
c
on
t
i
nue
t
o
m
ana
g
e
i
t
s
a
ss
e
t
s
and
a
ss
e
ss
ne
w i
n
v
e
s
t
m
en
t
oppo
r
t
un
i
t
i
e
s
t
o
a
c
h
i
e
v
e
s
t
ab
l
e
gr
o
w
t
h
and
enhan
c
e
s
ha
r
eho
l
de
rs’
v
a
l
ue
.
Ev
e
nt aft
e
r th
e
r
e
p
o
rt
i
ng p
e
r
i
o
d
T
he
f
o
r
t
h
c
o
mi
n
g
f
i
nan
ci
a
l
y
ea
r is
e
x
pe
c
t
ed
t
o
be
c
ha
ll
en
gi
n
g. T
he
D
ir
e
c
t
o
rs will m
on
i
t
o
r
de
v
e
l
op
m
en
t
s
t
he
y
c
on
si
de
r r
e
l
e
v
an
t
and
a
ss
e
ss
and
r
ea
c
t
a
c
t
i
v
e
l
y
t
o
t
he
ir im
pa
c
t
on
t
he
f
i
nan
ci
a
l
po
si
t
i
on
and
ope
r
a
t
i
n
g r
e
s
u
l
t
s
o
f
t
he
G
r
oup
.
Di
r
e
ct
o
rs
T
he
f
o
ll
o
wi
n
g
d
ir
e
c
t
o
rs s
e
r
v
ed
du
ri
n
g
t
he
y
ea
r
ended
31
D
e
c
e
m
be
r 2022:
Mr C
hun
g L
a
m
N
e
ls
on
L
a
w
Mr
G
eo
ff
r
e
y
J
ohn
G
riggs
(
C
ha
irm
an
and
C
h
i
e
f
Fi
nan
ci
a
l
Off
ic
e
r
)
(N
on
-
e
x
e
c
u
t
i
v
e
D
ir
e
c
t
o
r
)
S
ubstant
i
a
l
shar
e
h
o
l
d
i
ng
A
t
31
D
e
c
e
m
be
r 2022,
t
he
C
o
m
pan
y
ha
s
been
no
t
i
f
i
ed
o
f
t
he
f
o
ll
o
wi
n
g i
n
t
e
r
e
s
t
s
o
f
3
pe
r c
en
t
o
r m
o
r
e
i
n
i
t
s iss
ued
s
ha
r
e
c
ap
i
t
a
l
a
s
a
t
t
he
da
t
e
o
f
app
r
o
v
a
l
o
f
t
h
is r
epo
r
t
:
N
a
m
e
N
u
m
be
r
o
f
O
r
d
i
na
r
y
S
ha
r
e
s
A
pp
r
o
x
im
a
t
e
%
S
ha
r
eho
l
d
i
n
g
363,061,357
92,525,104
72,000,000
70,000,000
65,000,000
50.72
%
12.93
%
10.06
%
9.78
%
9.08
%
C
hun
g L
a
m
N
e
ls
on
L
a
w *
C
o
m
pu
t
e
rs
ha
r
e
C
o
m
pan
y
N
o
mi
nee
s Limi
t
ed
Ti
en
S
an
C
hua
A
head
E
t
e
r
n
i
t
y
Limi
t
ed
P
r
e
mi
u
m F
u
ll Limi
t
ed
(
* i
nd
ic
a
t
e
s
a
d
ir
e
c
t
o
r
o
f
t
he
C
o
m
pan
y)
Di
r
e
ct
o
rs’
i
nt
e
r
e
sts
T
he
d
ir
e
c
t
o
rs’i
n
t
e
r
e
s
t
s i
n
t
he
s
ha
r
e
c
ap
i
t
a
l
o
f
t
he
C
o
m
pan
y
a
s
a
t
31
D
e
c
e
m
be
r 2022
a
r
e
s
ho
w
n
be
l
o
w.All i
n
t
e
r
e
s
t
s
a
r
e
bene
f
ici
a
l.
N
u
m
be
r
o
f
O
r
d
i
na
r
y
S
ha
r
e
s
Mr C
hun
g L
a
m
N
e
ls
on
L
a
w363,061,357
D
ir
e
c
t
o
rs’
e
m
o
l
u
m
en
t
s
a
r
e
de
t
a
il
ed
i
n
N
o
t
e
10
t
o
t
he
f
i
nan
ci
a
l s
t
a
t
e
m
en
t
s.
S
har
e
cap
i
ta
l
and v
o
t
i
ng r
i
ghts
D
e
t
a
ils
o
f
t
he
s
ha
r
e
c
ap
i
t
a
l
and
m
o
v
e
m
en
t
s i
n
s
ha
r
e
c
ap
i
t
a
l
du
ri
n
g
t
he
y
ea
r
a
r
e
d
iscl
o
s
ed
i
n
N
o
t
e
19
t
o
t
he
f
i
nan
ci
a
l
s
t
a
t
e
m
en
t
s.
D
u
ri
n
g
t
he
y
ea
r,
t
he
iss
ued
s
ha
r
e
c
ap
i
t
a
l
ha
s
been
i
n
cr
ea
s
ed
b
y
£12,012
b
y
t
he
iss
ue
o
f
120,120,695
o
r
d
i
na
r
y
s
ha
r
e
s.
5
S
E
A
L
A
ND
C
A
P
IT
A
L G
A
L
A
XY LI
M
ITE
D
D
IRECT
O
R
S
’RE
PO
RT
(
C
ON
TI
NU
E
D)
Rat
i
o
o
f m
e
n t
o
w
o
m
e
n
A
t
31
D
e
c
e
m
be
r 2022,
t
he
r
e
w
a
s
one
w
o
m
en
(
2021: 1
)
e
m
p
l
o
y
ed
a
cr
o
ss
t
he
G
r
oup
m
a
k
i
n
g 14
%
(
2021: 13
%
)
o
f
ou
r
G
r
oup
-
wi
de
e
m
p
l
o
y
ee
ba
s
e
.
T
he
D
ir
e
c
t
o
rs
a
r
e
s
a
t
is
f
i
ed
t
ha
t
i
t
ha
s
t
he
app
r
op
ri
a
t
e
ba
l
an
c
e
o
f
s
k
ills,
e
x
pe
ri
en
c
e
and
e
x
pe
r
t
is
e
ne
c
e
ss
a
r
y
,
and
will
gi
v
e
due
r
e
g
a
r
d
t
o
d
i
v
e
rsi
t
y
i
n
t
he
e
v
en
t
o
f
f
u
r
t
he
r c
han
g
e
s
t
o
bo
t
h
i
t
s
o
w
n
m
e
m
be
rs
h
i
p
and
/
o
r
t
he
m
e
m
be
rs
h
i
p
o
f
t
he
s
en
i
o
r m
ana
g
e
m
en
t
t
ea
m.
Gr
ee
nh
o
us
e
gas
e
m
i
ss
i
o
ns
T
he
G
r
oup
is
a
w
a
r
e
t
ha
t
i
t
need
s
t
o
m
ea
s
u
r
e
i
t
s
ope
r
a
t
i
ona
l c
a
r
bon
f
oo
t
p
ri
n
t
i
n
o
r
de
r
t
o
limi
t
and
c
on
t
r
o
l i
t
s
en
v
ir
on
m
en
t
a
l im
pa
c
t
.
H
o
w
e
v
e
r, gi
v
en
t
he
v
e
r
y
limi
t
ed
na
t
u
r
e
o
f
i
t
s
ope
r
a
t
i
on
s
du
ri
n
g
t
he
y
ea
r
unde
r r
e
v
i
e
w, i
t
ha
s
no
t
been
p
r
a
c
t
ic
a
l
t
o
m
ea
s
u
r
e
i
t
s c
a
r
bon
f
oo
t
p
ri
n
t
. I
n
t
he
f
u
t
u
r
e
,
t
he
G
r
oup
will
on
l
y
m
ea
s
u
r
e
t
he
im
pa
c
t
o
f
i
t
s
d
ir
e
c
t
a
c
t
i
v
i
t
i
e
s,
a
s
t
he
f
u
ll im
pa
c
t
o
f
t
he
en
t
ir
e
s
upp
l
y
c
ha
i
n
o
f
i
t
s s
upp
li
e
rs c
anno
t
be
m
ea
s
u
r
ed
p
r
a
c
t
ic
a
ll
y
.
F
i
nanc
i
a
l
r
i
s
k
manag
e
m
e
nt
T
he
G
r
oup
’s
f
i
nan
ci
a
l ris
k
m
ana
g
e
m
en
t
ob
j
e
c
t
i
v
e
is
t
o
mi
n
imis
e
,
a
s
f
a
r
a
s
po
ssi
b
l
e
,
t
he
G
r
oup
’s
e
x
po
s
u
r
e
t
o
ea
c
h
ris
k
a
s
de
t
a
il
ed
i
n
N
o
t
e
5
t
o
t
he
f
i
nan
ci
a
l s
t
a
t
e
m
en
t
s.
C
o
rp
o
rat
e
g
o
v
e
rnanc
e
As
a
c
o
m
pan
y
wi
t
h
a
S
t
anda
r
d
Lis
t
i
n
g,
t
he
G
r
oup
is
no
t
r
equ
ir
ed
t
o
c
o
m
p
l
y
wi
t
h
t
he
p
r
o
v
isi
on
s
o
f
t
he
C
o
r
po
r
a
t
e
G
o
v
e
r
nan
c
e
C
ode
. Al
t
hou
g
h
t
he
C
o
m
pan
y
ha
s
no
t
adop
t
ed
t
he
C
o
r
po
r
a
t
e
G
o
v
e
r
nan
c
e
C
ode
, i
t
i
n
t
end
s
t
o
adop
t
s
u
c
h
p
r
o
c
edu
r
e
s
a
s
a
r
e
app
r
op
ri
a
t
e
f
o
r
t
he
si
z
e
and
na
t
u
r
e
o
f
t
he
C
o
m
pan
y
and
t
he
si
z
e
and
c
o
m
po
si
t
i
on
o
f
t
he
B
oa
r
d
. T
he
s
e
c
o
r
po
r
a
t
e
g
o
v
e
r
nan
c
e
p
r
o
c
edu
r
e
s
ha
v
e
been
s
e
l
e
c
t
ed
wi
t
h
due
r
e
g
a
r
d
t
o
t
he
p
r
o
v
isi
on
o
f
t
he
U
K
C
o
r
po
r
a
t
e
G
o
v
e
r
nan
c
e
C
ode
i
n
pa
r
t
ic
u
l
a
r:
gi
v
en
t
he
si
z
e
o
f
t
he
B
oa
r
d
, c
e
r
t
a
i
n
p
r
o
v
isi
on
s
o
f
t
he
C
o
r
po
r
a
t
e
G
o
v
e
r
nan
c
e
C
ode
(
i
n
pa
r
t
ic
u
l
a
r
t
he
p
r
o
v
isi
on
s r
e
l
a
t
i
n
g
t
o
t
he
c
o
m
po
si
t
i
on
o
f
t
he
B
oa
r
d
and
t
he
d
i
v
isi
on
o
f
r
e
s
pon
si
b
ili
t
i
e
s
be
t
w
een
t
he
C
ha
irm
an
and
c
h
i
e
f
e
x
e
c
u
t
i
v
e
and
e
x
e
c
u
t
i
v
e
c
o
m
pen
s
a
t
i
on
)
,
a
r
e
no
t
be
i
n
g c
o
m
p
li
ed
wi
t
h
b
y
t
he
C
o
m
pan
y
a
s
t
he
B
oa
r
d
c
on
si
de
rs
t
he
s
e
p
r
o
v
isi
on
s
t
o
be
i
napp
lic
ab
l
e
t
o
t
he
C
o
m
pan
y
;
gi
v
en
t
he
si
z
e
o
f
t
he
B
oa
r
d
,
t
he
boa
r
d
ha
s
no
t
e
s
t
ab
lis
hed
an
aud
i
t
c
o
mmi
tt
ee
,
a
r
e
m
une
r
a
t
i
on
c
o
mmi
tt
ee
and
a
no
mi
na
t
i
on
c
o
mmi
tt
ee
c
o
m
p
risi
n
g
a
t
l
ea
s
t
one
non
-
e
x
e
c
u
t
i
v
e
d
ir
e
c
t
o
r i
n
ea
c
h
c
o
mmi
tt
ee
. T
he
B
oa
r
d
is
t
a
k
i
n
g
t
he
r
e
s
pon
si
b
ili
t
i
e
s
t
o
r
e
v
i
e
w
aud
i
t
and
ris
k
m
a
tt
e
rs,
a
s w
e
ll
a
s
t
he
B
oa
r
d
’s si
z
e
, s
t
r
u
c
t
u
r
e
and
c
o
m
po
si
t
i
on
and
t
he
sc
a
l
e
and
s
t
r
u
c
t
u
r
e
o
f
t
he
d
ir
e
c
t
o
rs’
f
ee
s,
t
a
k
i
n
g i
n
t
o
a
cc
oun
t
t
he
i
n
t
e
r
e
s
t
s
o
f
S
ha
r
eho
l
de
rs
and
t
he
pe
r
f
o
rm
an
c
e
o
f
t
he
C
o
m
pan
y
,
and
will
t
a
k
e
r
e
s
pon
si
b
ili
t
y
f
o
r
t
he
appo
i
n
t
m
en
t
o
f
aud
i
t
o
rs
and
pa
y
m
en
t
o
f
t
he
ir
aud
i
t
f
ee
, m
on
i
t
o
r
and
r
e
v
i
e
w
t
he
i
n
t
e
gri
t
y
o
f
t
he
C
o
m
pan
y
’s
f
i
nan
ci
a
l
s
t
a
t
e
m
en
t
s
and
t
a
k
e
r
e
s
pon
si
b
ili
t
y
f
o
r
an
y
f
o
rm
a
l
announ
c
e
m
en
t
s
on
t
he
C
o
m
pan
y
’s
f
i
nan
ci
a
l
pe
r
f
o
rm
an
c
e
.
t
he
C
o
r
po
r
a
t
e
G
o
v
e
r
nan
c
e
C
ode
r
e
c
o
mm
end
s
t
he
s
ub
missi
on
o
f
a
ll
d
ir
e
c
t
o
rs
f
o
r r
e
-
e
l
e
c
t
i
on
a
t
annua
l
i
n
t
e
r
v
a
ls.
N
one
o
f
t
he
d
ir
e
c
t
o
rs will
be
r
equ
ir
ed
t
o
r
e
t
ir
e
b
y
r
o
t
a
t
i
on
and
be
s
ub
mi
tt
ed
f
o
r r
e
-
e
l
e
c
t
i
on
;
and
t
he
B
oa
r
d
ha
s c
o
m
p
li
ed
wi
t
h
t
he
p
r
o
v
isi
on
o
f
t
he
C
o
r
po
r
a
t
e
G
o
v
e
r
nan
c
e
C
ode
t
ha
t
a
t
l
ea
s
t
ha
l
f
o
f
t
he
B
oa
r
d
,
e
x
cl
ud
i
n
g
t
he
C
ha
irm
an
, s
hou
l
d
c
o
m
p
ris
e
non
-
e
x
e
c
u
t
i
v
e
d
ir
e
c
t
o
rs
de
t
e
rmi
ned
b
y
t
he
B
oa
r
d
t
o
be
i
ndependen
t
.
6
S
E
A
L
A
ND
C
A
P
IT
A
L G
A
L
A
XY LI
M
ITE
D
D
IRECT
O
R
S
’RE
PO
RT
(
C
ON
TI
NU
E
D)
A
ud
i
t
o
rs
T
he
aud
i
t
o
rs,
P
KF Li
tt
l
e
j
ohn
LL
P
,
ha
v
e
e
x
p
r
e
ss
ed
t
he
ir willi
n
g
ne
ss
t
o
c
on
t
i
nue
i
n
o
ff
ic
e
and
a
r
e
s
o
l
u
t
i
on
t
o
r
eappo
i
n
t
t
he
m will
be
p
r
opo
s
ed
a
t
t
he
A
nnua
l
G
ene
r
a
l M
ee
t
i
n
g.
Di
sc
l
o
sur
e
o
f Inf
o
rmat
i
o
n t
o
A
ud
i
t
o
rs
S
o
f
a
r
a
s
t
he
d
ir
e
c
t
o
rs
a
r
e
a
w
a
r
e
,
t
he
r
e
is
no
r
e
l
e
v
an
t
aud
i
t
i
n
f
o
rm
a
t
i
on
o
f
w
h
ic
h
t
he
C
o
m
pan
y
’s
aud
i
t
o
rs
a
r
e
una
w
a
r
e
,
and
ea
c
h
D
ir
e
c
t
o
r
ha
s
t
a
k
en
a
ll
t
he
s
t
ep
s
t
ha
t
he
ou
g
h
t
t
o
ha
v
e
t
a
k
en
a
s
a
D
ir
e
c
t
o
r i
n
o
r
de
r
t
o
m
a
k
eh
ims
e
l
f
a
w
a
r
e
o
f
an
y
r
e
l
e
v
an
t
aud
i
t
i
n
f
o
rm
a
t
i
on
and
t
o
e
s
t
ab
lis
h
t
ha
t
t
he
C
o
m
pan
y
’s
aud
i
t
o
rs
a
r
e
a
w
a
r
e
o
f
t
ha
t
i
n
f
o
rm
a
t
i
on
.
C
hun
g L
a
m
N
e
ls
on
L
a
w
C
ha
irm
an
31 M
a
y
2023
B
y
o
r
de
r
o
f
t
he
boa
r
d
7
S
E
A
L
A
ND
C
A
P
IT
A
L G
A
L
A
XY LI
M
ITE
D
S
T
A
TE
M
E
N
T
O
F
D
IRECT
O
R
S
’RE
S
PON
S
I
B
ILITIE
S
T
he
d
ir
e
c
t
o
rs
a
r
e
r
e
s
pon
si
b
l
e
f
o
r
p
r
epa
ri
n
g
t
he
annua
l r
epo
r
t
and
t
he
f
i
nan
ci
a
l s
t
a
t
e
m
en
t
s i
n
a
cc
o
r
dan
c
e
wi
t
h
app
lic
ab
l
e
l
a
ws
and
r
e
g
u
l
a
t
i
on
s. T
he
d
ir
e
c
t
o
rs
a
r
e
r
equ
ir
ed
t
o
p
r
epa
r
e
f
i
nan
ci
a
l s
t
a
t
e
m
en
t
s
f
o
r
t
he
G
r
oup
i
n
a
cc
o
r
dan
c
e
wi
t
h
I
n
t
e
r
na
t
i
ona
l Fi
nan
ci
a
l R
epo
r
t
i
n
g S
t
anda
r
d
s
(
“IFRSs”
)
.
T
he
d
ir
e
c
t
o
rs m
u
s
t
no
t
app
r
o
v
e
t
he
f
i
nan
ci
a
l s
t
a
t
e
m
en
t
s
un
l
e
ss
t
he
y
a
r
e
s
a
t
is
f
i
ed
t
ha
t
t
he
y
gi
v
e
a
t
r
ue
and
f
a
ir
v
i
e
w
o
f
a
ff
a
irs
o
f
t
he
G
r
oup
and
o
f
t
he
p
r
o
f
i
t
o
r l
o
ss
o
f
t
he
G
r
oup
f
o
r
t
ha
t
pe
ri
od
. I
n
p
r
epa
ri
n
g
t
he
f
i
nan
ci
a
l s
t
a
t
e
m
en
t
s,
t
he
d
ir
e
c
t
o
rs
a
r
e
r
equ
ir
ed
t
o
:
-
S
e
l
e
c
t
s
u
i
t
ab
l
e
a
cc
oun
t
i
n
g
po
lici
e
s
and
t
hen
app
l
y
t
he
m c
on
sis
t
en
t
l
y
;
-
M
a
k
e
j
ud
gm
en
t
s
and
a
cc
oun
t
i
n
g
e
s
t
im
a
t
e
s
t
ha
t
a
r
e
r
ea
s
onab
l
e
and
p
r
uden
t
;
-
S
t
a
t
e
w
he
t
he
r
app
lic
ab
l
e
IFRSs
ha
v
e
been
f
o
ll
o
w
ed
, s
ub
j
e
c
t
t
o
an
y
m
a
t
e
ri
a
l
depa
r
t
u
r
e
s
d
iscl
o
s
ed
and
e
x
p
l
a
i
ned
i
n
t
he
f
i
nan
ci
a
l s
t
a
t
e
m
en
t
s;
and
-P
r
epa
r
e
t
he
f
i
nan
ci
a
l s
t
a
t
e
m
en
t
s
on
t
he
g
o
i
n
g c
on
c
e
r
n
ba
sis
un
l
e
ss i
t
is i
napp
r
op
ri
a
t
e
t
o
p
r
e
s
u
m
e
t
ha
t
t
he
C
o
m
pan
y
will c
on
t
i
nue
i
n
bu
si
ne
ss.
T
he
d
ir
e
c
t
o
rs
a
r
e
r
e
s
pon
si
b
l
e
f
o
r
k
eep
i
n
g
adequa
t
e
a
cc
oun
t
i
n
g r
e
c
o
r
d
s
t
ha
t
a
r
e
s
u
ff
ici
en
t
t
o
s
ho
w
and
e
x
p
l
a
i
n
t
he
G
r
oup
’s
t
r
an
s
a
c
t
i
on
s
and
d
iscl
o
s
e
wi
t
h
r
ea
s
onab
l
e
a
cc
u
r
a
c
y
a
t
an
y
t
im
e
t
he
f
i
nan
ci
a
l
po
si
t
i
on
o
f
t
he
G
r
oup
and
enab
l
e
t
he
m
t
o
en
s
u
r
e
t
ha
t
t
he
f
i
nan
ci
a
l s
t
a
t
e
m
en
t
s c
o
m
p
l
y
wi
t
h
app
lic
ab
l
e
l
a
w. T
he
y
a
r
e
a
ls
o
r
e
s
pon
si
b
l
e
f
o
r
s
a
f
e
g
ua
r
d
i
n
g
t
he
a
ss
e
t
s
o
f
t
he
G
r
oup
and
hen
c
e
f
o
r
t
a
k
i
n
g r
ea
s
onab
l
e
s
t
ep
s
f
o
r
t
he
p
r
e
v
en
t
i
on
and
de
t
e
c
t
i
on
o
f
f
r
aud
and
o
t
he
r irr
e
g
u
l
a
ri
t
i
e
s.
T
he
d
ir
e
c
t
o
rs
a
r
e
r
e
s
pon
si
b
l
e
f
o
r
t
he
m
a
i
n
t
enan
c
e
and
i
n
t
e
gri
t
y
o
f
t
he
c
o
r
po
r
a
t
e
and
f
i
nan
ci
a
l i
n
f
o
rm
a
t
i
on
i
n
cl
uded
on
t
he
C
o
m
pan
y
’s w
eb
si
t
e
.
L
e
gisl
a
t
i
on
i
n
t
he
C
a
y
m
an
Isl
and
s g
o
v
e
r
n
i
n
g
t
he
p
r
epa
r
a
t
i
on
and
d
iss
e
mi
na
t
i
on
o
f
t
he
a
cc
oun
t
s
and
t
he
o
t
he
r
i
n
f
o
rm
a
t
i
on
i
n
cl
uded
i
n
annua
l r
epo
r
t
s m
a
y
d
i
ff
e
r
f
r
o
m l
e
gisl
a
t
i
on
i
n
o
t
he
r
j
u
ris
d
ic
t
i
on
s.
Di
r
e
ct
o
rs’R
e
sp
o
ns
i
b
ili
ty
S
tat
e
m
e
nt
P
ursuant t
o
Di
sc
l
o
sur
e
and Transpar
e
ncy Ru
l
e
s
E
a
c
h
o
f
t
he
d
ir
e
c
t
o
rs, w
ho
s
e
na
m
e
s
and
f
un
c
t
i
on
s
a
r
e
lis
t
ed
on
pa
g
e
1, c
on
f
irms
t
ha
t
,
t
o
t
he
be
s
t
o
f
t
he
ir
k
no
wl
ed
g
e
and
be
li
e
f
:
-
t
he
f
i
nan
ci
a
l s
t
a
t
e
m
en
t
s
p
r
epa
r
ed
i
n
a
cc
o
r
dan
c
e
wi
t
h
IFRSs, gi
v
e
a
t
r
ue
and
f
a
ir
v
i
e
w
o
f
t
he
a
ss
e
t
s, li
ab
ili
t
i
e
s,
f
i
nan
ci
a
l
po
si
t
i
on
and
l
o
ss
o
f
t
he
G
r
oup
and
pa
r
en
t
c
o
m
pan
y
;
and
-
t
he
A
nnua
l R
epo
r
t
and
f
i
nan
ci
a
l s
t
a
t
e
m
en
t
s, i
n
cl
ud
i
n
g
t
he
B
u
si
ne
ss r
e
v
i
e
w, i
n
cl
ude
s
a
f
a
ir r
e
v
i
e
w
o
f
t
he
de
v
e
l
op
m
en
t
and
pe
r
f
o
rm
an
c
e
o
f
t
he
bu
si
ne
ss
and
t
he
po
si
t
i
on
o
f
t
he
G
r
oup
and
pa
r
en
t
c
o
m
pan
y
,
t
o
g
e
t
he
r
wi
t
h
a
de
scri
p
t
i
on
o
f
t
he
p
ri
n
ci
pa
l ris
k
s
and
un
c
e
r
t
a
i
n
t
i
e
s
t
ha
t
t
he
y
f
a
c
e
.
B
y
o
r
de
r
o
f
t
he
boa
r
d
C
hun
g L
a
m
N
e
ls
on
L
a
w
C
ha
irm
an
31 M
a
y
2023
I
ND
E
P
E
ND
E
N
T
A
UD
IT
O
R’
S
RE
PO
RT T
O
THE
M
E
M
B
ER
S
O
F
S
E
A
L
A
ND
C
A
P
IT
A
L G
A
L
A
XY
LI
M
ITE
D
O
p
i
n
i
o
n
W
e
ha
v
e
aud
i
t
ed
t
he
G
r
oup
f
i
nan
ci
a
l s
t
a
t
e
m
en
t
s
o
f
S
ea
l
and
C
ap
i
t
a
l
G
a
l
a
x
y
Limi
t
ed
(
‘
t
he
G
r
oup
’
)
f
o
r
t
he
y
ea
r
ended
31
D
e
c
e
m
be
r 2022 w
h
ic
h
c
o
m
p
ris
e
t
he
C
on
s
o
li
da
t
ed
S
t
a
t
e
m
en
t
o
f
P
r
o
f
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t
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r l
o
ss,
t
he
C
on
s
o
li
da
t
ed
S
t
a
t
e
m
en
t
o
f
C
o
m
p
r
ehen
si
v
e
I
n
c
o
m
e
,
t
he
C
on
s
o
li
da
t
ed
S
t
a
t
e
m
en
t
o
f
Fi
nan
ci
a
l
P
o
si
t
i
on
,
t
he
C
on
s
o
li
da
t
ed
S
t
a
t
e
m
en
t
o
f
C
han
g
e
s i
n
E
qu
i
t
y
,
t
he
C
on
s
o
li
da
t
ed
S
t
a
t
e
m
en
t
o
f
C
a
s
h
Fl
o
ws
and
no
t
e
s
t
o
t
he
f
i
nan
ci
a
l s
t
a
t
e
m
en
t
s, i
n
cl
ud
i
n
g
sig
n
i
f
ic
an
t
a
cc
oun
t
i
n
g
po
lici
e
s. T
he
f
i
nan
ci
a
l r
epo
r
t
i
n
g
f
r
a
m
e
w
o
r
k
t
ha
t
ha
s
been
app
li
ed
i
n
t
he
ir
p
r
epa
r
a
t
i
on
is
app
lic
ab
l
e
l
a
w
and
I
n
t
e
r
na
t
i
ona
l Fi
nan
ci
a
l R
epo
r
t
i
n
g S
t
anda
r
d
s
(
IFRSs
)
.
I
n
ou
r
op
i
n
i
on
,
t
he
G
r
oup
f
i
nan
ci
a
l s
t
a
t
e
m
en
t
s:
·
gi
v
e
a
t
r
ue
and
f
a
ir
v
i
e
w
o
f
t
he
s
t
a
t
e
o
f
t
he
G
r
oup
’s
a
ff
a
irs
a
s
a
t
31
D
e
c
e
m
be
r 2022
and
o
f
i
t
s l
o
ss
f
o
r
t
he
y
ea
r
t
hen
ended
;
and
·
ha
v
e
been
p
r
ope
rl
y
p
r
epa
r
ed
i
n
a
cc
o
r
dan
c
e
wi
t
h
I
n
t
e
r
na
t
i
ona
l Fi
nan
ci
a
l R
epo
r
t
i
n
g S
t
anda
r
d
s
(
IFRS
)
.
B
as
i
s f
o
r
o
p
i
n
i
o
n
W
e
c
ondu
c
t
ed
ou
r
aud
i
t
i
n
a
cc
o
r
dan
c
e
wi
t
h
I
n
t
e
r
na
t
i
ona
l S
t
anda
r
d
s
on
A
ud
i
t
i
n
g
(U
K
)
(
ISAs
(U
K
))
and
app
lic
ab
l
e
l
a
w.
O
u
r r
e
s
pon
si
b
ili
t
i
e
s
unde
r
t
ho
s
e
s
t
anda
r
d
s
a
r
e
f
u
r
t
he
r
de
scri
bed
i
n
t
he
A
ud
i
t
o
r’s r
e
s
pon
si
b
ili
t
i
e
s
f
o
r
t
he
aud
i
t
o
f
t
he
f
i
nan
ci
a
l s
t
a
t
e
m
en
t
s s
e
c
t
i
on
o
f
ou
r r
epo
r
t
. W
e
a
r
e
i
ndependen
t
o
f
t
he
C
o
m
pan
y
i
n
a
cc
o
r
dan
c
e
wi
t
h
t
he
e
t
h
ic
a
l
r
equ
ir
e
m
en
t
s
t
ha
t
a
r
e
r
e
l
e
v
an
t
t
o
ou
r
aud
i
t
o
f
t
he
f
i
nan
ci
a
l s
t
a
t
e
m
en
t
s i
n
t
he
U
K, i
n
cl
ud
i
n
g
t
he
FRC’s E
t
h
ic
a
l
S
t
anda
r
d
a
s
app
li
ed
t
o
lis
t
ed
en
t
i
t
i
e
s,
and
w
e
ha
v
e
f
u
l
f
ill
ed
ou
r
o
t
he
r
e
t
h
ic
a
l r
e
s
pon
si
b
ili
t
i
e
s i
n
a
cc
o
r
dan
c
e
wi
t
h
t
he
s
e
r
equ
ir
e
m
en
t
s. W
e
be
li
e
v
e
t
ha
t
t
he
aud
i
t
e
v
i
den
c
e
w
e
ha
v
e
ob
t
a
i
ned
is s
u
ff
ici
en
t
and
app
r
op
ri
a
t
e
t
o
p
r
o
v
i
de
a
ba
sis
f
o
r
ou
r
op
i
n
i
on
.
M
at
e
r
i
a
l
unc
e
rta
i
nty r
e
l
at
e
d t
o
g
o
i
ng c
o
nc
e
rn
W
e
d
r
a
w
a
tt
en
t
i
on
t
o
no
t
e
4
(
p
)
i
n
t
he
G
r
oup
f
i
nan
ci
a
l s
t
a
t
e
m
en
t
s, w
h
ic
h
i
nd
ic
a
t
e
s
t
ha
t
t
he
G
r
oup
i
n
c
u
rr
ed
a
ne
t
l
o
ss
o
f
£179,569
du
ri
n
g
t
he
y
ea
r
ended
31
D
e
c
e
m
be
r 2022
and
,
a
s
o
f
t
ha
t
da
t
e
,
t
he
G
r
oup
w
a
s i
n
a
ne
t
li
ab
ili
t
y
po
si
t
i
on
o
f
£892,843. As s
t
a
t
ed
i
n
no
t
e
4
(
p
)
,
t
he
d
ir
e
c
t
o
rs’ c
a
s
h
f
l
o
w
p
r
o
j
e
c
t
i
on
s
f
o
r
t
he
f
o
ll
o
wi
n
g 12 m
on
t
h
s c
on
cl
ude
t
ha
t
t
he
r
e
will
be
t
he
need
f
o
r
add
i
t
i
ona
l c
a
s
h
r
e
s
ou
rc
e
s,
bu
t
t
he
r
e
is
no
c
e
r
t
a
i
n
t
y
t
ha
t
an
y
s
u
c
h
f
und
s will
be
f
o
r
t
h
c
o
mi
n
g.
T
he
s
e
e
v
en
t
s
o
r c
ond
i
t
i
on
s,
a
l
on
g wi
t
h
t
he
o
t
he
r m
a
tt
e
rs
a
s s
e
t
f
o
r
t
h
i
n
no
t
e
4
(
p
)
, i
nd
ic
a
t
e
t
ha
t
a
m
a
t
e
ri
a
l
un
c
e
r
t
a
i
n
t
y
e
x
is
t
s
t
ha
t
m
a
y
c
a
s
t
sig
n
i
f
ic
an
t
doub
t
on
t
he
G
r
oup
’s
ab
ili
t
y
t
o
c
on
t
i
nue
a
s
a
g
o
i
n
g c
on
c
e
r
n
.
O
u
r
op
i
n
i
on
is
no
t
m
od
i
f
i
ed
i
n
r
e
s
pe
c
t
o
f
t
h
is m
a
tt
e
r.
I
n
aud
i
t
i
n
g
t
he
G
r
oup
f
i
nan
ci
a
l s
t
a
t
e
m
en
t
s, w
e
ha
v
e
c
on
cl
uded
t
ha
t
t
he
d
ir
e
c
t
o
r’s
u
s
e
o
f
t
he
g
o
i
n
g c
on
c
e
r
n
ba
sis
o
f
a
cc
oun
t
i
n
g i
n
t
he
p
r
epa
r
a
t
i
on
o
f
t
he
G
r
oup
f
i
nan
ci
a
l s
t
a
t
e
m
en
t
s is
app
r
op
ri
a
t
e
.
O
u
r
e
v
a
l
ua
t
i
on
o
f
t
he
d
ir
e
c
t
o
rs’
a
ss
e
ssm
en
t
o
f
t
he
G
r
oup
’s
ab
ili
t
y
t
o
c
on
t
i
nue
t
o
adop
t
t
he
g
o
i
n
g c
on
c
e
r
n
ba
sis
o
f
a
cc
oun
t
i
n
g i
n
cl
uded
ob
t
a
i
n
i
n
g
m
ana
g
e
m
en
t
s’
f
o
r
e
c
a
s
t
s
t
o
t
he
pe
ri
od
ended
31 M
a
y
2024
and
c
ha
ll
en
gi
n
g
t
he
sig
n
i
f
ic
an
t
a
ss
u
m
p
t
i
on
s wi
t
h
i
n
. I
n
o
r
de
r
f
o
r
t
he
G
r
oup
t
o
m
ee
t
t
he
ir li
ab
ili
t
i
e
s
a
s
t
he
y
f
a
ll
due
,
t
he
G
r
oup
will
need
t
o
r
a
is
e
f
und
s
e
i
t
he
r
f
r
o
m
e
x
is
t
i
n
g
s
ha
r
eho
l
de
rs
o
r
t
he
open
m
a
r
k
e
t
.W
e
ha
v
e
ob
t
a
i
ned
c
on
f
irm
a
t
i
on
f
r
o
m
t
he
m
a
j
o
ri
t
y
s
ha
r
eho
l
de
r
o
f
h
is c
o
mmi
t
m
en
t
t
o
p
r
o
v
i
de
f
i
nan
ci
a
l s
uppo
r
t
t
o
t
he
G
r
oup
.
O
u
r r
e
s
pon
si
b
ili
t
i
e
s
and
t
he
r
e
s
pon
si
b
ili
t
i
e
s
o
f
t
he
d
ir
e
c
t
o
rs wi
t
h
r
e
s
pe
c
t
t
o
g
o
i
n
g c
on
c
e
r
n
a
r
e
de
scri
bed
i
n
t
he
r
e
l
e
v
an
t
s
e
c
t
i
on
s
o
f
t
h
is r
epo
r
t
.
8
9
O
ur app
li
cat
i
o
n
o
f mat
e
r
i
a
li
ty
T
he
sc
ope
o
f
ou
r
aud
i
t
w
a
s i
n
f
l
uen
c
ed
b
y
ou
r
app
lic
a
t
i
on
o
f
m
a
t
e
ri
a
li
t
y
.T
he
quan
t
i
t
a
t
i
v
e
and
qua
li
t
a
t
i
v
e
t
h
r
e
s
ho
l
d
s
f
o
r
m
a
t
e
ri
a
li
t
y
de
t
e
rmi
ne
t
he
sc
ope
o
f
ou
r
aud
i
t
and
t
he
na
t
u
r
e
,
t
imi
n
g
and
e
x
t
en
t
o
f
ou
r
aud
i
t
p
r
o
c
edu
r
e
s. T
he
m
a
t
e
ri
a
li
t
y
app
li
ed
t
o
t
he
G
r
oup
f
i
nan
ci
a
l s
t
a
t
e
m
en
t
s w
a
s £31,200
(
2021: £52,100
)
ba
s
ed
on
5
%
o
f
bo
t
h
t
he
l
o
ss
m
ade
du
ri
n
g
t
he
f
i
nan
ci
a
l
y
ea
r
and
t
he
ne
t
li
ab
ili
t
i
e
s
a
t
t
he
y
ea
r
end
. T
he
pe
r
f
o
rm
an
c
e
m
a
t
e
ri
a
li
t
y
w
a
s £21,840
(
2021: £36,470
)
,
be
i
n
g 70
%
o
f
o
v
e
r
a
ll m
a
t
e
ri
a
li
t
y
t
o
en
s
u
r
e
s
u
ff
ici
en
t
c
o
v
e
r
a
g
e
f
o
r gr
oup
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p
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l r
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t
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t
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t
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s
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m
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ou
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r’s r
epo
r
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t
he
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eon
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d
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t
o
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r
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pon
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wi
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.
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m
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miss
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10
I
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den
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s
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en
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r
appa
r
en
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m
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l miss
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a
t
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t
s, w
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r
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equ
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t
o
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t
e
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w
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t
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r
t
h
is gi
v
e
s ris
e
t
o
a
m
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t
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l miss
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m
en
t
i
n
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f
,
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s
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w
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pe
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f
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on
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ude
t
ha
t
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e
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m
a
t
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l miss
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t
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m
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t
o
f
t
h
is
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t
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t
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r
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ha
v
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no
t
h
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epo
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is r
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a
r
d
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f d
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e
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As
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r
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f
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t
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S
t
a
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t
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f
D
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c
t
o
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e
s,
t
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d
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c
t
o
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a
r
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t
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e
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aud
i
t
o
r’sr
epo
r
t
t
ha
t
i
n
cl
ude
s
ou
r
op
i
n
i
on
.
R
ea
s
onab
l
e
a
ss
u
r
an
c
e
is
a
h
ig
h
l
e
v
e
l
o
f
a
ss
u
r
an
c
e
bu
t
is
no
t
a
g
ua
r
an
t
ee
t
ha
t
an
aud
i
t
c
ondu
c
t
ed
i
n
a
cc
o
r
dan
c
e
wi
t
h
ISAs
(U
K
)
will
a
lw
a
y
s
de
t
e
c
t
a
m
a
t
e
ri
a
l miss
t
a
t
e
m
en
t
w
hen
i
t
e
x
is
t
s. Miss
t
a
t
e
m
en
t
s c
an
a
ris
e
f
r
o
m
f
r
aud
o
r
e
rr
o
r
and
a
r
e
c
on
si
de
r
ed
m
a
t
e
ri
a
l i
f
, i
nd
i
v
i
dua
ll
y
o
r i
n
t
he
a
ggr
e
g
a
t
e
,
t
he
y
c
ou
l
d
r
ea
s
onab
l
y
be
e
x
pe
c
t
ed
t
o
i
n
f
l
uen
c
e
t
he
e
c
ono
mic
de
cisi
on
s
o
f
u
s
e
rs
t
a
k
en
on
t
he
ba
sis
o
f
t
he
s
e
G
r
oup
f
i
nan
ci
a
l s
t
a
t
e
m
en
t
s.
Irr
e
g
u
l
a
ri
t
i
e
s, i
n
cl
ud
i
n
g
f
r
aud
,
a
r
e
i
n
s
t
an
c
e
s
o
f
non
-
c
o
m
p
li
an
c
e
wi
t
h
l
a
ws
and
r
e
g
u
l
a
t
i
on
s. W
e
de
sig
n
p
r
o
c
edu
r
e
s i
n
li
ne
wi
t
h
ou
r r
e
s
pon
si
b
ili
t
i
e
s,
ou
t
li
ned
abo
v
e
,
t
o
de
t
e
c
t
m
a
t
e
ri
a
l miss
t
a
t
e
m
en
t
s i
n
r
e
s
pe
c
t
o
f
irr
e
g
u
l
a
ri
t
i
e
s,
i
n
cl
ud
i
n
g
f
r
aud
. T
he
e
x
t
en
t
t
o
w
h
ic
h
ou
r
p
r
o
c
edu
r
e
s
a
r
e
c
apab
l
e
o
f
de
t
e
c
t
i
n
g irr
e
g
u
l
a
ri
t
i
e
s, i
n
cl
ud
i
n
g
f
r
aud
is
de
t
a
il
ed
be
l
o
w:
·
W
e
ob
t
a
i
ned
an
unde
rs
t
and
i
n
g
o
f
t
he
G
r
oup
and
t
he
s
e
c
t
o
r i
n
w
h
ic
h
t
he
y
ope
r
a
t
e
t
o
i
den
t
i
fy
l
a
ws
and
r
e
g
u
l
a
t
i
on
s
t
ha
t
c
ou
l
d
r
ea
s
onab
l
y
be
e
x
pe
c
t
ed
t
o
ha
v
e
a
d
ir
e
c
t
e
ff
e
c
t
on
t
he
G
r
oup
f
i
nan
ci
a
l s
t
a
t
e
m
en
t
s.
W
e
ob
t
a
i
ned
ou
r
unde
rs
t
and
i
n
g i
n
t
h
is r
e
g
a
r
d
t
h
r
ou
g
h
d
isc
u
ssi
on
s wi
t
h
m
ana
g
e
m
en
t
,
and
app
lic
a
t
i
on
o
f
ou
r c
u
m
u
l
a
t
i
v
e
aud
i
t
k
no
wl
ed
g
e
and
e
x
pe
ri
en
c
e
o
f
t
he
s
e
c
t
o
r.
·
W
e
de
t
e
rmi
ned
t
he
p
ri
n
ci
pa
l l
a
ws
and
r
e
g
u
l
a
t
i
on
s r
e
l
e
v
an
t
t
o
t
he
G
r
oup
i
n
t
h
is r
e
g
a
r
d
t
o
be
t
ho
s
e
a
risi
n
g
f
r
o
m LSE r
u
l
e
s, C
a
y
m
an
Isl
and
s l
a
ws
and
l
o
c
a
l r
e
g
u
l
a
t
i
on
s
app
lic
ab
l
e
t
o
t
he
s
ub
si
d
i
a
ri
e
s.
·
W
e
de
sig
ned
ou
r
aud
i
t
p
r
o
c
edu
r
e
s
t
o
en
s
u
r
e
t
he
aud
i
t
t
ea
m c
on
si
de
r
ed
w
he
t
he
r
t
he
r
e
w
e
r
e
an
y
i
nd
ic
a
t
i
on
s
o
f
non
-
c
o
m
p
li
an
c
e
b
y
t
he
G
r
oup
wi
t
h
t
ho
s
e
l
a
ws
and
r
e
g
u
l
a
t
i
on
s. T
he
s
e
p
r
o
c
edu
r
e
s i
n
cl
uded
,
bu
t
w
e
r
e
no
t
limi
t
ed
t
o
:
enqu
iri
e
s
o
f
m
ana
g
e
m
en
t
, r
e
v
i
e
w
o
f
B
oa
r
d
mi
nu
t
e
s
and
R
e
g
u
l
a
t
o
r
y
N
e
ws S
e
r
v
ic
e
(
R
N
S
)
announ
c
e
m
en
t
s
and
r
e
v
i
e
w
o
f
l
e
g
a
l
and
r
e
g
u
l
a
t
o
r
y
c
o
rr
e
s
ponden
c
e
.
·
W
e
a
ls
o
i
den
t
i
f
i
ed
t
he
ris
k
s
o
f
m
a
t
e
ri
a
l miss
t
a
t
e
m
en
t
o
f
t
he
G
r
oup
f
i
nan
ci
a
l s
t
a
t
e
m
en
t
s
due
t
o
f
r
aud
. W
e
c
on
si
de
r
ed
, i
n
add
i
t
i
on
t
o
t
he
non
-
r
ebu
tt
ab
l
e
p
r
e
s
u
m
p
t
i
on
o
f
a
ris
k
o
f
f
r
aud
a
risi
n
g
f
r
o
m m
ana
g
e
m
en
t
o
v
e
rri
de
o
f
c
on
t
r
o
ls,
t
ha
t
t
he
po
t
en
t
i
a
l
f
o
r m
ana
g
e
m
en
t
b
i
a
s w
a
s i
den
t
i
f
i
ed
i
n
r
e
l
a
t
i
on
t
o
t
he
im
pa
irm
en
t
a
ss
e
ssm
en
t
o
f
t
r
ade
and
o
t
he
r r
e
c
e
i
v
ab
l
e
s. W
e
add
r
e
ss
ed
t
h
is
b
y
c
ha
ll
en
gi
n
g
t
he
a
ss
u
m
p
t
i
on
s
and
j
ud
g
e
m
en
t
s m
ade
b
y
m
ana
g
e
m
en
t
w
hen
e
v
a
l
ua
t
i
n
g
an
y
i
nd
ic
a
t
o
rs
o
f
im
pa
irm
en
t
.
·
As i
n
a
ll
o
f
ou
r
aud
i
t
s, w
e
add
r
e
ss
ed
t
he
ris
k
o
f
f
r
aud
a
risi
n
g
f
r
o
m m
ana
g
e
m
en
t
o
v
e
rri
de
o
f
c
on
t
r
o
ls
b
y
pe
r
f
o
rmi
n
g
aud
i
t
p
r
o
c
edu
r
e
s w
h
ic
h
i
n
cl
uded
bu
t
w
e
r
e
no
t
limi
t
ed
t
o
:
t
he
t
e
s
t
i
n
g
o
f
j
ou
r
na
ls; r
e
v
i
e
wi
n
g
a
cc
oun
t
i
n
g
e
s
t
im
a
t
e
s
f
o
r
e
v
i
den
c
e
o
f
b
i
a
s;
and
e
v
a
l
ua
t
i
n
g
t
he
bu
si
ne
ss r
a
t
i
ona
l
e
o
f
an
y
sig
n
i
f
ic
an
t
t
r
an
s
a
c
t
i
on
s
t
ha
t
a
r
e
unu
s
ua
l
o
r
ou
t
si
de
t
he
no
rm
a
l c
ou
rs
e
o
f
bu
si
ne
ss.
·
W
e
en
g
a
g
ed
wi
t
h
ou
r c
o
m
ponen
t
aud
i
t
o
rs
t
o
en
s
u
r
e
t
he
y
a
ss
e
ss
ed
w
he
t
he
r
t
he
r
e
w
e
r
e
an
y
i
n
s
t
an
c
e
s
o
f
non
-
c
o
m
p
li
an
c
e
wi
t
h
l
a
ws
and
r
e
g
u
l
a
t
i
on
s
a
t
a
l
o
c
a
l l
e
v
e
l
and
en
s
u
r
ed
t
he
y
r
epo
r
t
ed
an
y
s
u
c
h
b
r
ea
c
hed
o
r
c
on
c
e
r
n
s
t
o
u
s.
N
one
w
e
r
e
no
t
ed
a
t
t
he
c
o
m
ponen
t
o
r
G
r
oup
l
e
v
e
l.
11
B
e
c
au
s
e
o
f
t
he
i
nhe
r
en
t
limi
t
a
t
i
on
s
o
f
an
aud
i
t
,
t
he
r
e
is
a
ris
k
t
ha
t
w
e
will
no
t
de
t
e
c
t
a
ll irr
e
g
u
l
a
ri
t
i
e
s, i
n
cl
ud
i
n
g
t
ho
s
e
l
ead
i
n
g
t
o
a
m
a
t
e
ri
a
l miss
t
a
t
e
m
en
t
i
n
t
he
G
r
oup
f
i
nan
ci
a
l s
t
a
t
e
m
en
t
s
o
r
non
-
c
o
m
p
li
an
c
e
wi
t
h
r
e
g
u
l
a
t
i
on
.
T
h
is ris
k
i
n
cr
ea
s
e
s
t
he
m
o
r
e
t
ha
t
c
o
m
p
li
an
c
e
wi
t
h
a
l
a
w
o
r r
e
g
u
l
a
t
i
on
is r
e
m
o
v
ed
f
r
o
m
t
he
e
v
en
t
s
and
t
r
an
s
a
c
t
i
on
s
r
e
f
l
e
c
t
ed
i
n
t
he
G
r
oup
f
i
nan
ci
a
l s
t
a
t
e
m
en
t
s,
a
s w
e
will
be
l
e
ss li
k
e
l
y
t
o
be
c
o
m
e
a
w
a
r
e
o
f
i
n
s
t
an
c
e
s
o
f
non
-
c
o
m
p
li
an
c
e
. T
he
ris
k
is
a
ls
o
gr
ea
t
e
r r
e
g
a
r
d
i
n
g irr
e
g
u
l
a
ri
t
i
e
s
o
cc
u
rri
n
g
due
t
o
f
r
aud
r
a
t
he
r
t
han
e
rr
o
r,
a
s
f
r
aud
i
n
v
o
l
v
e
s i
n
t
en
t
i
ona
l c
on
c
ea
lm
en
t
,
f
o
rg
e
r
y
, c
o
ll
u
si
on
,
o
missi
on
o
r misr
ep
r
e
s
en
t
a
t
i
on
.
A
f
u
r
t
he
r
de
scri
p
t
i
on
o
f
ou
r r
e
s
pon
si
b
ili
t
i
e
s
f
o
r
t
he
aud
i
t
o
f
t
he
G
r
oup
f
i
nan
ci
a
l s
t
a
t
e
m
en
t
s is l
o
c
a
t
ed
on
t
he
Fi
nan
ci
a
l R
epo
r
t
i
n
g C
oun
cil’s w
eb
si
t
e
a
t
: www.
f
rc.
o
rg.
u
k
/
aud
i
t
o
rsr
e
s
pon
si
b
ili
t
i
e
s
.T
h
is
de
scri
p
t
i
on
f
o
rms
pa
r
t
o
f
ou
r
aud
i
t
o
r’s r
epo
r
t
.
U
s
e
o
f
o
ur r
e
p
o
rt
T
h
is r
epo
r
t
is m
ade
s
o
l
e
l
y
t
o
t
he
c
o
m
pan
y
’s m
e
m
be
rs,
a
s
a
bod
y
, i
n
a
cc
o
r
dan
c
e
ou
r
en
g
a
g
e
m
en
t
l
e
tt
e
r
da
t
ed
3 M
a
y
2023.
O
u
r
aud
i
t
w
o
r
k
ha
s
been
unde
r
t
a
k
en
s
o
t
ha
t
w
e
mig
h
t
s
t
a
t
e
t
o
t
he
c
o
m
pan
y
’s m
e
m
be
rs
t
ho
s
e
m
a
tt
e
rs w
e
a
r
e
r
equ
ir
ed
t
o
s
t
a
t
e
t
o
t
he
m i
n
an
aud
i
t
o
r’s r
epo
r
t
and
f
o
r
no
o
t
he
r
pu
r
po
s
e
. T
o
t
he
f
u
ll
e
s
t
e
x
t
en
t
pe
rmi
tt
ed
b
y
l
a
w, w
e
do
no
t
a
cc
ep
t
o
r
a
ss
u
m
e
r
e
s
pon
si
b
ili
t
y
t
o
an
y
one
,
o
t
he
r
t
han
t
he
c
o
m
pan
y
and
t
he
c
o
m
pan
y
’
s m
e
m
be
rs
a
s
a
bod
y
,
f
o
r
ou
r
aud
i
t
w
o
r
k
,
f
o
r
t
h
is r
epo
r
t
,
o
r
f
o
r
t
he
op
i
n
i
on
s w
e
ha
v
e
f
o
rm
ed
.
M
ar
k
L
i
ng
(
Engag
e
m
e
nt
P
artn
e
r
)
F
o
r and
o
n b
e
ha
l
f
o
f
P
KF L
i
tt
l
e
j
o
hn LL
P
S
tatut
o
ry
A
ud
i
t
o
r
15 W
e
s
t
f
e
rr
y
Circ
u
s
C
ana
r
y
W
ha
r
f
L
ondon
E14 4
HD
31 May 2023
12
S
E
A
L
A
ND
C
A
P
IT
A
L G
A
L
A
XY LI
M
ITE
D
C
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t 1 January 2022
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t 31
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A
t 1 January 2021
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A
t 31
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s
e
s
B
an
k
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n
t
e
r
e
s
t
i
n
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o
m
e
34,746
(
153,000
)
(
3,904
)
-
-
-
-
738
(
10
)
31,340
-
-
(
290
)
91,757
384,917
(
3,930
)
656
(
9
)
O
pe
r
a
t
i
n
g c
a
s
h
f
l
o
ws
be
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o
r
e
m
o
v
e
m
en
t
s i
n
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g c
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t
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l
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e
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n
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en
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n
cr
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r
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en
t
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n
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e
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r
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n
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e
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e
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n
t
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e
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e
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v
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l
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r
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t
s
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n
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e
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e
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n
t
r
ade
pa
y
ab
l
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s
and
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t
r
a
c
t
li
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ili
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i
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s
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n
cr
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n
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t
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pa
y
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l
e
s
and
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ccr
ued
e
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s
e
s
(
24,265
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(
14,525
)
235,618
(
11,307
)
16,005
311,158
(
81,823
)
(
21,868
)
264,538
7,981
(
11,464
)
270,978
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a
y
m
en
t
o
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i
n
t
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r
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s
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r
t
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on
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l
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ili
t
i
e
s
211,685
(
738
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(
100,930
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(
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t cash g
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n
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ng act
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t
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e
s
210,947
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AS
H FL
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S
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OM
I
N
VE
S
TI
N
G
A
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N
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t
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n
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l
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l
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ri
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s
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n
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m
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r
e
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e
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v
ed
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10
43,685
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t cash
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n
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m
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ng act
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t
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s
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AS
H FL
OW
S
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OM
FI
N
A
N
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N
G
A
CTIVITIE
S
Iss
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r
e
s
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y
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en
t
o
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l
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ili
t
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s
-
(
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89,540
(
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t cash
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n
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rat
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o
m f
i
nanc
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ng act
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v
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t
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e
s
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t
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ncr
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as
e
i
n cash and cash
e
qu
i
va
l
e
nts
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3,082
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o
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ig
n
e
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han
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lig
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en
t
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qu
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va
l
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(
148,988
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8,198
(
10,886
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e
qu
i
va
l
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nts at 31
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e
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e
mb
e
r
35,567
8,198
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he
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a
l s
t
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o
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e
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l s
t
a
t
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m
en
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s.
17
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N
A
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L
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TE
M
E
N
T
S
F
O
R THE YE
A
R E
ND
E
D
31
D
ECE
M
B
ER 2022
1
.
GE
N
ER
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L I
N
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R
M
A
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ea
l
and
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ap
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t
a
l
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a
l
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x
y
Limi
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ed
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t
he
“C
o
m
pan
y
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)
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a
s i
n
c
o
r
po
r
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t
ed
i
n
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and
s
on
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s
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p
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pan
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limi
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o
m
pan
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s L
a
w
o
f
t
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a
y
m
an
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and
s. T
he
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o
m
pan
y
’s r
e
gis
t
e
r
ed
o
ff
ic
e
is
a
t
Will
o
w
H
ou
s
e
,
PO
B
o
x
709, Cric
k
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t
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qua
r
e
,
G
r
and
C
a
y
m
an
, KY1
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1107,
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a
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m
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s. T
he
s
e
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on
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o
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da
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f
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t
a
t
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en
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o
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ris
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t
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pan
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i
t
s s
ub
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d
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a
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t
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r r
e
f
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rr
ed
t
o
a
s
t
he
“
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r
oup
”
)
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o
m
pan
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’s
na
t
u
r
e
o
f
ope
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a
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on
s is
t
o
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and
e
-
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a
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bu
si
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ss
e
s.
2
.
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I
S
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F
P
RE
P
A
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TI
ON
T
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s
e
f
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ci
a
l s
t
a
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m
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t
s
ha
v
e
been
p
r
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r
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n
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dan
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wi
t
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n
t
e
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na
t
i
ona
l Fi
nan
ci
a
l R
epo
r
t
i
n
g
S
t
anda
r
d
s
(
“IFRSs”
)
and
IFRIC i
n
t
e
r
p
r
e
t
a
t
i
on
s
app
lic
ab
l
e
t
o
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o
m
pan
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e
s r
epo
r
t
i
n
g
unde
r IFRSs.
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he
s
e
f
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ci
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l s
t
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ound
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f
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rwis
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v
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t
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been
p
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sis.
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ND
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TER
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TI
ON
S
(i)N
e
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i
nt
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rpr
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tat
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o
up and C
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t
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f
o
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irs
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e
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o
r
t
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f
i
nan
ci
a
l
y
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r
be
gi
nn
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n
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r
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2022. T
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adop
t
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s
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t
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a
t
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l im
pa
c
t
on
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r
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o
r
on
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m
oun
t
s r
epo
r
t
ed
i
n
t
he
s
e
f
i
nan
ci
a
l s
t
a
t
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m
en
t
s:
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tandard / Int
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rpr
e
tat
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o
n
A
pp
lic
at
i
o
n
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&
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m
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e
n
t
s
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a
m
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t
s
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e
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e
n
t
s
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t
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o
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Annu
a
l Impr
o
v
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m
e
n
t
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o
IFRS S
t
a
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a
rds
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e
f
ini
t
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a
t
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l
Busin
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ss C
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mbin
a
t
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o
ns – R
e
f
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r
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C
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p
t
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l Fr
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m
e
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k
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r
o
p
e
r
t
y
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l
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n
t
a
nd Equipm
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n
t
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r
o
v
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o
ns, C
o
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t
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t
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s
a
nd C
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Ass
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s
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y
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d
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o
n
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o
n
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a
m
e
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n
t
s
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m
e
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e
n
t
s
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m
e
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e
n
t
s
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a
m
e
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e
n
t
s
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a
m
e
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e
n
t
s
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r
e
s
e
n
t
a
t
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o
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f
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s Curr
e
n
t
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r
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n
-
curr
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n
t
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ff
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c
t
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v
e
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a
l p
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ri
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ds b
e
g
innin
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n
o
r
a
f
t
e
r 1 J
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nu
a
r
y
2023
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a
ssi
f
ic
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t
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o
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o
f
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a
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e
s
a
s Curr
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n
t
o
r
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o
n
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curr
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ff
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t
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:
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l p
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e
g
innin
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n
o
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f
t
e
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a
nu
a
r
y
2023
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t
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t
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o
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o
f
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nci
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l S
t
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t
e
m
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t
s
a
nd IFRS
P
r
a
c
t
ic
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t
a
t
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m
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t
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s
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n
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s in Acc
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in
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Es
t
im
a
t
e
s
a
nd
Err
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rs –
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e
f
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f
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im
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x
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s –
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f
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d T
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d
t
o
Ass
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t
s
a
nd Li
a
bili
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s
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m
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Sin
g
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e
Tr
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ns
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r
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o
r IFRIC i
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e
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p
r
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t
a
t
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on
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t
ha
t
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ff
e
c
t
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t
ha
t
w
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d
be
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pe
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t
ed
t
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ha
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e
a
m
a
t
e
ri
a
l im
pa
c
t
on
t
he
C
o
m
pan
y
o
r
G
r
oup
.
18
S
E
A
L
A
ND
C
A
P
IT
A
L G
A
L
A
XY LI
M
ITE
D
NO
TE
S
T
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THE C
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S
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LI
D
A
TE
D
FI
N
A
N
CI
A
L
S
T
A
TE
M
E
N
T
S
F
O
R THE YE
A
R E
ND
E
D
31
D
ECE
M
B
ER 2022
4
.
S
IG
N
IFIC
A
N
T
A
CC
OUN
TI
N
G
PO
LICIE
S
(
a
)
B
as
i
s
o
f c
o
ns
o
li
dat
i
o
n
T
he
s
e
f
i
nan
ci
a
l s
t
a
t
e
m
en
t
s c
o
m
p
ris
e
t
he
f
i
nan
ci
a
l s
t
a
t
e
m
en
t
s
o
f
t
he
C
o
m
pan
y
and
en
t
i
t
i
e
s c
on
t
r
o
ll
ed
b
y
t
he
C
o
m
pan
y
(
i
t
s s
ub
si
d
i
a
ri
e
s
)
f
o
r
t
he
y
ea
r
ended
31
D
e
c
e
m
be
r 2022.
C
on
t
r
o
l is
a
c
h
i
e
v
ed
w
hen
t
he
G
r
oup
is
e
x
po
s
ed
,
o
r
ha
s rig
h
t
s,
t
o
v
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ri
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l
e
r
e
t
u
r
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s
f
r
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m i
t
s
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n
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e
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en
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e
s
t
ee
and
ha
s
t
he
ab
ili
t
y
t
o
a
ff
e
c
t
t
ho
s
e
r
e
t
u
r
n
s
t
h
r
ou
g
h
i
t
s
po
w
e
r
o
v
e
r
t
he
i
n
v
e
s
t
ee
. S
pe
ci
f
ic
a
ll
y
,
t
he
G
r
oup
c
on
t
r
o
ls
an
i
n
v
e
s
t
ee
i
f
,
and
on
l
y
i
f
,
t
he
G
r
oup
ha
s:
P
o
w
e
r
o
v
e
r
t
he
i
n
v
e
s
t
ee
(
i.
e
.,
e
x
is
t
i
n
g rig
h
t
s
t
ha
t
gi
v
e
i
t
t
he
c
u
rr
en
t
ab
ili
t
y
t
o
d
ir
e
c
t
t
he
r
e
l
e
v
an
t
a
c
t
i
v
i
t
i
e
s
o
f
t
he
i
n
v
e
s
t
ee
)
E
x
po
s
u
r
e
,
o
r rig
h
t
s,
t
o
v
a
ri
ab
l
e
r
e
t
u
r
n
s
f
r
o
m i
t
s i
n
v
o
l
v
e
m
en
t
wi
t
h
t
he
i
n
v
e
s
t
ee
T
he
ab
ili
t
y
t
o
u
s
e
i
t
s
po
w
e
r
o
v
e
r
t
he
i
n
v
e
s
t
ee
t
o
a
ff
e
c
t
i
t
s r
e
t
u
r
n
s
G
ene
r
a
ll
y
,
t
he
r
e
is
a
p
r
e
s
u
m
p
t
i
on
t
ha
t
a
m
a
j
o
ri
t
y
o
f
v
o
t
i
n
g rig
h
t
s r
e
s
u
l
t
s i
n
c
on
t
r
o
l. T
o
s
uppo
r
t
t
h
is
p
r
e
s
u
m
p
t
i
on
and
w
hen
t
he
G
r
oup
ha
s l
e
ss
t
han
a
m
a
j
o
ri
t
y
o
f
t
he
v
o
t
i
n
g
o
r simil
a
r rig
h
t
s
o
f
an
i
n
v
e
s
t
ee
,
t
he
G
r
oup
c
on
si
de
rs
a
ll r
e
l
e
v
an
t
f
a
c
t
s
and
circ
u
ms
t
an
c
e
s i
n
a
ss
e
ssi
n
g w
he
t
he
r i
t
ha
s
po
w
e
r
o
v
e
r
an
i
n
v
e
s
t
ee
, i
n
cl
ud
i
n
g:
T
he
c
on
t
r
a
c
t
ua
l
a
rr
an
g
e
m
en
t
(
s
)
wi
t
h
t
he
o
t
he
r
v
o
t
e
ho
l
de
rs
o
f
t
he
i
n
v
e
s
t
ee
Rig
h
t
s
a
risi
n
g
f
r
o
m
o
t
he
r c
on
t
r
a
c
t
ua
l
a
rr
an
g
e
m
en
t
s
T
he
G
r
oup
’s
v
o
t
i
n
g rig
h
t
s
and
po
t
en
t
i
a
l
v
o
t
i
n
g rig
h
t
s
(
i
)
B
u
si
ne
ss c
o
m
b
i
na
t
i
on
s
T
he
G
r
oup
a
cc
oun
t
s
f
o
r
bu
si
ne
ss c
o
m
b
i
na
t
i
on
s
u
si
n
g
t
he
a
c
qu
isi
t
i
on
m
e
t
hod
w
hen
c
on
t
r
o
l is
t
r
an
s
f
e
rr
ed
t
o
t
he
G
r
oup
. T
he
c
on
si
de
r
a
t
i
on
t
r
an
s
f
e
rr
ed
i
n
t
he
a
c
qu
isi
t
i
on
is g
ene
r
a
ll
y
m
ea
s
u
r
ed
a
t
f
a
ir
v
a
l
ue
,
a
s
a
r
e
t
he
i
den
t
i
f
i
ab
l
e
ne
t
a
ss
e
t
s
a
c
qu
ir
ed
.A
n
y
g
ood
will
t
ha
t
a
ris
e
s is
t
e
s
t
ed
annua
ll
y
f
o
r im
pa
irm
en
t
.A
n
y
g
a
i
n
on
a
ba
rg
a
i
n
pu
rc
ha
s
e
is r
e
c
o
g
n
is
ed
i
n
p
r
o
f
i
t
o
r l
o
ss
imm
ed
i
a
t
e
l
y
. Tr
an
s
a
c
t
i
on
c
o
s
t
s
a
r
e
e
x
pen
s
ed
a
s i
n
c
u
rr
ed
,
e
x
c
ep
t
i
f
r
e
l
a
t
ed
t
o
t
he
iss
ue
o
f
deb
t
o
r
equ
i
t
y
s
e
c
u
ri
t
i
e
s.
T
he
c
on
si
de
r
a
t
i
on
t
r
an
s
f
e
rr
ed
doe
s
no
t
i
n
cl
ude
a
m
oun
t
s r
e
l
a
t
ed
t
o
t
he
s
e
tt
l
e
m
en
t
o
f
p
r
e
-
e
x
is
t
i
n
g r
e
l
a
t
i
on
s
h
i
p
s. S
u
c
h
a
m
oun
t
s
a
r
e
g
ene
r
a
ll
y
r
e
c
o
g
n
is
ed
i
n
p
r
o
f
i
t
o
r l
o
ss.
A
n
y
c
on
t
i
n
g
en
t
c
on
si
de
r
a
t
i
on
is m
ea
s
u
r
ed
a
t
f
a
ir
v
a
l
ue
a
t
t
he
da
t
e
o
f
a
c
qu
isi
t
i
on
. I
f
an
ob
lig
a
t
i
on
t
o
pa
y
c
on
t
i
n
g
en
t
c
on
si
de
r
a
t
i
on
t
ha
t
m
ee
t
s
t
he
de
f
i
n
i
t
i
on
o
f
a
f
i
nan
ci
a
l i
n
s
t
r
u
m
en
t
is
cl
a
ssi
f
i
ed
a
s
equ
i
t
y
,
t
hen
i
t
is
no
t
r
e
m
ea
s
u
r
ed
and
s
e
tt
l
e
m
en
t
is
a
cc
oun
t
ed
f
o
r wi
t
h
i
n
equ
i
t
y
.
O
t
he
rwis
e
,
o
t
he
r c
on
t
i
n
g
en
t
c
on
si
de
r
a
t
i
on
is r
e
m
ea
s
u
r
ed
a
t
f
a
ir
v
a
l
ue
a
t
ea
c
h
r
epo
r
t
i
n
g
da
t
e
and
s
ub
s
equen
t
c
han
g
e
s i
n
t
he
f
a
ir
v
a
l
ue
o
f
t
he
c
on
t
i
n
g
en
t
c
on
si
de
r
a
t
i
on
a
r
e
r
e
c
o
g
n
is
ed
i
n
p
r
o
f
i
t
o
r l
o
ss.
(
ii
)
S
ub
si
d
i
a
ri
e
s
S
ub
si
d
i
a
ri
e
s
a
r
e
en
t
i
t
i
e
s c
on
t
r
o
ll
ed
b
y
t
he
G
r
oup
. T
he
G
r
oup
c
on
t
r
o
ls
an
en
t
i
t
y
w
hen
i
t
is
e
x
po
s
ed
t
o
,
o
r
ha
s rig
h
t
s
t
o
,
v
a
ri
ab
l
e
r
e
t
u
r
n
s
f
r
o
m i
t
s i
n
v
o
l
v
e
m
en
t
wi
t
h
t
he
en
t
i
t
y
and
ha
s
t
he
ab
ili
t
y
t
o
a
ff
e
c
t
t
ho
s
e
r
e
t
u
r
n
s
t
h
r
ou
g
h
i
t
s
po
w
e
r
o
v
e
r
t
he
en
t
i
t
y
. T
he
f
i
nan
ci
a
l s
t
a
t
e
m
en
t
s
o
f
s
ub
si
d
i
a
ri
e
s
a
r
e
i
n
cl
uded
i
n
t
he
c
on
s
o
li
da
t
ed
f
i
nan
ci
a
l s
t
a
t
e
m
en
t
s
f
r
o
m
t
he
da
t
e
on
w
h
ic
h
c
on
t
r
o
l c
o
mm
en
c
e
s
un
t
il
t
he
da
t
e
on
w
h
ic
h
c
on
t
r
o
l c
ea
s
e
s.
19
S
E
A
L
A
ND
C
A
P
IT
A
L G
A
L
A
XY LI
M
ITE
D
NO
TE
S
T
O
THE C
ON
S
O
LI
D
A
TE
D
FI
N
A
N
CI
A
L
S
T
A
TE
M
E
N
T
S
F
O
R THE YE
A
R E
ND
E
D
31
D
ECE
M
B
ER 2022
4
.
S
IG
N
IFIC
A
N
T
A
CC
OUN
TI
N
G
PO
LICIE
S
(
C
ON
TI
NU
E
D)
(
a
)
B
as
i
s
o
f c
o
ns
o
li
dat
i
o
n
(
C
o
nt
i
nu
e
d
)
(
iii
)
L
o
ss
o
f
c
on
t
r
o
l
W
hen
t
he
G
r
oup
l
o
s
e
s c
on
t
r
o
l
o
v
e
r
a
s
ub
si
d
i
a
r
y
, i
t
de
r
e
c
o
g
n
is
e
s
t
he
a
ss
e
t
s
and
li
ab
ili
t
i
e
s
o
f
t
he
s
ub
si
d
i
a
r
y
,
and
an
y
r
e
l
a
t
ed
N
CI
and
o
t
he
r c
o
m
ponen
t
s
o
f
equ
i
t
y
. A
n
y
r
e
s
u
l
t
i
n
g g
a
i
n
o
r l
o
ss is
r
e
c
o
g
n
is
ed
i
n
p
r
o
f
i
t
o
r l
o
ss.A
n
y
i
n
t
e
r
e
s
t
r
e
t
a
i
ned
i
n
t
he
f
o
rm
e
r s
ub
si
d
i
a
r
y
is m
ea
s
u
r
ed
a
t
f
a
ir
v
a
l
ue
w
hen
c
on
t
r
o
l is l
o
s
t
. Ac
han
g
e
i
n
t
he
o
w
ne
rs
h
i
p
i
n
t
e
r
e
s
t
o
f
a
s
ub
si
d
i
a
r
y
, wi
t
hou
t
a
l
o
ss
o
f
c
on
t
r
o
l, is
a
cc
oun
t
ed
f
o
r
a
s
an
equ
i
t
y
t
r
an
s
a
c
t
i
on
.
(
i
v)
Tr
an
s
a
c
t
i
on
s
e
limi
na
t
ed
on
c
on
s
o
li
da
t
i
on
I
n
t
r
a
-
gr
oup
ba
l
an
c
e
s
and
t
r
an
s
a
c
t
i
on
s,
and
an
y
un
r
ea
lis
ed
i
n
c
o
m
e
and
e
x
pen
s
e
s
a
risi
n
g
f
r
o
m
i
n
t
r
a
-
gr
oup
t
r
an
s
a
c
t
i
on
s,
a
r
e
e
limi
na
t
ed
.
U
n
r
ea
lis
ed
g
a
i
n
s
a
risi
n
g
f
r
o
m
t
r
an
s
a
c
t
i
on
s wi
t
h
equ
i
t
y-
a
cc
oun
t
ed
i
n
v
e
s
t
ee
a
r
e
e
limi
na
t
ed
a
g
a
i
n
s
t
t
he
i
n
v
e
s
t
m
en
t
t
o
t
he
e
x
t
en
t
o
f
t
he
G
r
oup
’s
i
n
t
e
r
e
s
t
i
n
t
he
i
n
v
e
s
t
ee
.
U
n
r
ea
lis
ed
l
o
ss
e
s
a
r
e
e
limi
na
t
ed
i
n
t
he
s
a
m
e
w
a
y
a
s
un
r
ea
lis
ed
g
a
i
n
s,
bu
t
on
l
y
t
o
t
he
e
x
t
en
t
t
ha
t
t
he
r
e
is
no
e
v
i
den
c
e
o
f
im
pa
irm
en
t
.
(
b
)
R
e
v
e
nu
e
r
e
c
o
gn
i
t
i
o
n
R
e
v
enue
is r
e
c
o
g
n
is
ed
t
o
dep
ic
t
t
he
t
r
an
s
f
e
r
o
f
s
e
r
v
ic
e
s
t
o
c
u
s
t
o
m
e
rs i
n
an
a
m
oun
t
t
ha
t
r
e
f
l
e
c
t
s
t
he
c
on
si
de
r
a
t
i
on
t
o
w
h
ic
h
t
he
G
r
oup
e
x
pe
c
t
s
t
o
be
en
t
i
t
l
ed
i
n
e
x
c
han
g
e
f
o
r
t
ho
s
e
g
ood
s
o
r s
e
r
v
ic
e
s.
S
pe
ci
f
ic
a
ll
y
,
t
he
G
r
oup
u
s
e
s
a
5
-
s
t
ep
app
r
oa
c
h
t
o
r
e
v
enue
r
e
c
o
g
n
i
t
i
on
:
S
t
ep
1:I
den
t
i
fy
t
he
c
on
t
r
a
c
t
(
s
)
wi
t
h
a
c
u
s
t
o
m
e
r;
S
t
ep
2:I
den
t
i
fy
t
he
pe
r
f
o
rm
an
c
e
ob
lig
a
t
i
on
s i
n
t
he
c
on
t
r
a
c
t
;
S
t
ep
3:
D
e
t
e
rmi
ne
t
he
t
r
an
s
a
c
t
i
on
p
ric
e
;
S
t
ep
4:All
o
c
a
t
e
t
he
t
r
an
s
a
c
t
i
on
p
ric
e
t
o
t
he
pe
r
f
o
rm
an
c
e
ob
lig
a
t
i
on
s i
n
t
he
c
on
t
r
a
c
t
;
and
S
t
ep
5:R
e
c
o
g
n
is
e
r
e
v
enue
w
hen
(
o
r
a
s
)
t
he
en
t
i
t
y
s
a
t
is
f
i
e
s
a
pe
r
f
o
rm
an
c
e
ob
lig
a
t
i
on
.
T
he
G
r
oup
r
e
c
o
g
n
is
e
s r
e
v
enue
w
hen
(
o
r
a
s
)
a
pe
r
f
o
rm
an
c
e
ob
lig
a
t
i
on
is s
a
t
is
f
i
ed
, i.
e
. w
hen
“c
on
t
r
o
l”
o
f
t
he
g
ood
s
o
r s
e
r
v
ic
e
s
unde
rl
y
i
n
g
t
hepa
r
t
ic
u
l
a
r
pe
r
f
o
rm
an
c
e
ob
lig
a
t
i
on
is
t
r
an
s
f
e
rr
ed
t
o
c
u
s
t
o
m
e
rs.
A
pe
r
f
o
rm
an
c
e
ob
lig
a
t
i
on
r
ep
r
e
s
en
t
s
a
g
ood
o
r s
e
r
v
ic
e
(
o
r
a
bund
l
e
o
f
g
ood
s
o
r s
e
r
v
ic
e
s
)
t
ha
t
is
d
is
t
i
n
c
t
o
r
a
s
e
ri
e
s
o
f
d
is
t
i
n
c
t
g
ood
s
o
r s
e
r
v
ic
e
s
t
ha
t
a
r
e
s
ub
s
t
an
t
i
a
ll
y
t
he
s
a
m
e
.
C
on
t
r
o
l is
t
r
an
s
f
e
rr
ed
o
v
e
r
t
im
e
and
r
e
v
enue
is r
e
c
o
g
n
is
ed
o
v
e
r
t
im
e
b
y
r
e
f
e
r
en
c
e
t
o
t
he
p
r
o
gr
e
ss
t
o
w
a
r
d
s c
o
m
p
l
e
t
e
s
a
t
is
f
a
c
t
i
on
o
f
r
e
l
e
v
an
t
pe
r
f
o
rm
an
c
e
ob
lig
a
t
i
on
i
f
one
o
f
t
he
f
o
ll
o
wi
n
g cri
t
e
ri
a
is
m
e
t
:
-
t
he
c
u
s
t
o
m
e
r sim
u
l
t
aneou
sl
y
r
e
c
e
i
v
e
s
and
c
on
s
u
m
e
s
t
he
bene
f
i
t
s
p
r
o
v
i
ded
b
y
t
he
en
t
i
t
y
’s
pe
r
f
o
rm
an
c
e
a
s
t
he
G
r
oup
pe
r
f
o
rms;
-
t
he
G
r
oup
’s
pe
r
f
o
rm
an
c
e
cr
ea
t
e
s
and
enhan
c
e
s
an
a
ss
e
t
t
ha
t
t
he
c
u
s
t
o
m
e
r c
on
t
r
o
ls
a
s
t
he
G
r
oup
pe
r
f
o
rms;
o
r
-
t
he
G
r
oup
’s
pe
r
f
o
rm
an
c
e
doe
s
no
t
cr
ea
t
e
an
a
ss
e
t
wi
t
h
an
a
l
t
e
r
na
t
i
v
e
u
s
e
t
o
t
he
G
r
oup
and
t
he
G
r
oup
ha
s
an
en
f
o
rc
eab
l
e
rig
h
t
t
o
pa
y
m
en
t
f
o
r
pe
r
f
o
rm
an
c
e
c
o
m
p
l
e
t
ed
t
o
da
t
e
.
O
t
he
rwis
e
, r
e
v
enue
is r
e
c
o
g
n
is
ed
a
t
a
po
i
n
t
i
n
t
im
e
w
hen
t
he
c
u
s
t
o
m
e
r
ob
t
a
i
n
s c
on
t
r
o
l
o
f
t
he
d
is
t
i
n
c
t
g
ood
o
r s
e
r
v
ic
e
.
Ac
on
t
r
a
c
t
a
ss
e
t
r
ep
r
e
s
en
t
s
t
he
G
r
oup
’s rig
h
t
t
o
c
on
si
de
r
a
t
i
on
i
n
e
x
c
han
g
e
f
o
r s
e
r
v
ic
e
s
t
ha
t
t
he
G
r
oup
ha
s
t
r
an
s
f
e
rr
ed
t
o
a
c
u
s
t
o
m
e
r
t
ha
t
is
no
t
un
c
ond
i
t
i
ona
l. I
t
is
a
ss
e
ss
ed
f
o
r im
pa
irm
en
t
i
n
a
cc
o
r
dan
c
e
wi
t
h
IFRS 9. I
n
c
on
t
r
a
s
t
,
a
r
e
c
e
i
v
ab
l
e
r
ep
r
e
s
en
t
s
t
he
G
r
oup
’s
un
c
ond
i
t
i
ona
l rig
h
t
t
o
c
on
si
de
r
a
t
i
on
, i.
e
.
on
l
y
t
he
pa
ss
a
g
e
o
f
t
im
e
is r
equ
ir
ed
be
f
o
r
e
pa
y
m
en
t
o
f
t
ha
t
c
on
si
de
r
a
t
i
on
is
due
.
20
S
E
A
L
A
ND
C
A
P
IT
A
L G
A
L
A
XY LI
M
ITE
D
NO
TE
S
T
O
THE C
ON
S
O
LI
D
A
TE
D
FI
N
A
N
CI
A
L
S
T
A
TE
M
E
N
T
S
F
O
R THE YE
A
R E
ND
E
D
31
D
ECE
M
B
ER 2022
4
.
S
IG
N
IFIC
A
N
T
A
CC
OUN
TI
N
G
PO
LICIE
S
(
C
ON
TI
NU
E
D)
(
b
)
R
e
v
e
nu
e
r
e
c
o
gn
i
t
i
o
n
(
C
o
nt
i
nu
e
d
)
Ac
on
t
r
a
c
t
li
ab
ili
t
y
r
ep
r
e
s
en
t
s
t
he
G
r
oup
’s
ob
lig
a
t
i
on
t
o
t
r
an
s
f
e
r s
e
r
v
ic
e
s
t
o
a
c
u
s
t
o
m
e
r
f
o
r w
h
ic
h
t
he
G
r
oup
ha
s r
e
c
e
i
v
ed
c
on
si
de
r
a
t
i
on
(
o
r
an
a
m
oun
t
o
f
c
on
si
de
r
a
t
i
on
is
due
)
f
r
o
m
t
he
c
u
s
t
o
m
e
r.
A c
on
t
r
a
c
t
a
ss
e
t
and
a
c
on
t
r
a
c
t
li
ab
ili
t
y
r
e
l
a
t
i
n
g
t
o
a
c
on
t
r
a
c
t
a
r
e
a
cc
oun
t
ed
f
o
r
and
p
r
e
s
en
t
ed
on
a
ne
t
ba
sis.
R
e
v
enue
f
r
o
m m
a
r
k
e
t
i
n
g s
e
r
v
ic
e
and
e
-
c
o
mm
e
rc
e
s
e
r
v
ic
e
is r
e
c
o
g
n
is
ed
w
hen
t
he
pe
r
f
o
rm
an
c
e
ob
lig
a
t
i
on
is s
a
t
is
f
i
ed
.
I
n
t
e
r
e
s
t
i
n
c
o
m
e
f
r
o
m
a
f
i
nan
ci
a
l
a
ss
e
t
is
a
ccr
ued
on
a
t
im
e
ba
sis
u
si
n
g
t
he
e
ff
e
c
t
i
v
e
i
n
t
e
r
e
s
t
m
e
t
hod
.
(
c
)
G
o
v
e
rnm
e
nt grants
G
o
v
e
r
n
m
en
t
gr
an
t
s
a
r
e
r
e
c
o
g
n
is
ed
w
he
r
e
t
he
r
e
is r
ea
s
onab
l
ea
ss
u
r
an
c
e
t
ha
t
t
he
gr
an
t
will
be
r
e
c
e
i
v
ed
and
a
ll
a
tt
a
c
hed
c
ond
i
t
i
on
s will
be
c
o
m
p
li
ed
wi
t
h
. W
hen
t
he
gr
an
t
r
e
l
a
t
e
s
t
o
an
e
x
pen
s
e
i
t
e
m, i
t
is
r
e
c
o
g
n
is
ed
a
s i
n
c
o
m
e
on
a
s
y
s
t
e
m
a
t
ic
ba
sis
o
v
e
r
t
he
pe
ri
od
s
t
ha
t
t
he
r
e
l
a
t
ed
c
o
s
t
s,
f
o
r w
h
ic
h
i
t
is
i
n
t
ended
t
o
c
o
m
pen
s
a
t
e
,
a
r
e
e
x
pen
s
ed
. W
hen
t
he
gr
an
t
r
e
l
a
t
e
s
t
o
an
a
ss
e
t
, i
t
is r
e
c
o
g
n
is
ed
a
s i
n
c
o
m
e
i
n
equa
l
a
m
oun
t
s
o
v
e
r
t
he
e
x
pe
c
t
ed
u
s
e
f
u
l li
f
e
o
f
t
he
r
e
l
a
t
ed
a
ss
e
t
.
W
hen
t
he
G
r
oup
r
e
c
e
i
v
e
s gr
an
t
s
o
f
non
-
m
one
t
a
r
y
a
ss
e
t
s,
t
he
a
ss
e
t
and
t
he
gr
an
t
a
r
e
r
e
c
o
r
ded
a
t
no
mi
na
l
a
m
oun
t
s
and
r
e
l
ea
s
ed
t
o
p
r
o
f
i
t
o
r l
o
ss
o
v
e
r
t
he
e
x
pe
c
t
ed
u
s
e
f
u
l li
f
e
o
f
t
he
a
ss
e
t
,
ba
s
ed
on
t
he
pa
tt
e
r
n
o
f
c
on
s
u
m
p
t
i
on
o
f
t
he
bene
f
i
t
s
o
f
t
he
unde
rl
y
i
n
g
a
ss
e
t
b
y
equa
l
annua
l i
n
s
t
a
lm
en
t
s.
(
d
)
F
o
r
e
i
gn curr
e
ncy transact
i
o
ns
(
i
)
F
un
c
t
i
ona
l
and
p
r
e
s
en
t
a
t
i
ona
l c
u
rr
en
c
y
I
t
e
ms i
n
cl
uded
i
n
t
he
Fi
nan
ci
a
l S
t
a
t
e
m
en
t
s
o
f
ea
c
h
o
f
t
he
G
r
oup
’s
en
t
i
t
i
e
s
a
r
e
m
ea
s
u
r
ed
u
si
n
g
t
he
c
u
rr
en
c
y
o
f
t
he
p
rim
a
r
y
e
c
ono
mic
en
v
ir
on
m
en
t
i
n
w
h
ic
h
t
he
en
t
i
t
y
ope
r
a
t
e
s
(
“
f
un
c
t
i
ona
l
c
u
rr
en
c
y
”
)
,
be
i
n
g Bri
t
is
h
P
ound
S
t
e
rli
n
g
(
“
G
B
P
”
o
r “
£
”
)
, C
h
i
ne
s
e
Y
uan
(
“C
N
Y”
)
and
H
on
g
K
on
g
D
o
ll
a
r
(
“
H
K
D
”
)
. T
he
G
r
oup
Fi
nan
ci
a
l S
t
a
t
e
m
en
t
s
a
r
e
p
r
e
s
en
t
ed
i
n
G
B
P
.
(
ii
)
Tr
an
s
a
c
t
i
on
s
and
ba
l
an
c
e
s
F
o
r
e
ig
n
c
u
rr
en
c
y
t
r
an
s
a
c
t
i
on
s
a
r
e
t
r
an
sl
a
t
ed
i
n
t
o
t
he
f
un
c
t
i
ona
l c
u
rr
en
c
y
u
si
n
g
t
he
e
x
c
han
g
e
r
a
t
e
s
p
r
e
v
a
ili
n
g
a
t
t
he
da
t
e
s
o
f
t
he
t
r
an
s
a
c
t
i
on
s. M
one
t
a
r
y
a
ss
e
t
s
and
li
ab
ili
t
i
e
s
deno
mi
na
t
ed
i
n
f
o
r
e
ig
n
c
u
rr
en
ci
e
s
a
r
e
t
r
an
sl
a
t
ed
a
t
t
he
r
a
t
e
s
o
f
e
x
c
han
g
e
r
u
li
n
g
a
t
t
he
S
t
a
t
e
m
en
t
o
f
Fi
nan
ci
a
l
P
o
si
t
i
on
da
t
e
. F
o
r
e
ig
n
e
x
c
han
g
e
g
a
i
n
s
and
l
o
ss
e
s r
e
s
u
l
t
i
n
g
f
r
o
m
t
he
s
e
tt
l
e
m
en
t
o
f
s
u
c
h
t
r
an
s
a
c
t
i
on
s,
and
f
r
o
m
t
he
t
r
an
sl
a
t
i
on
a
t
y
ea
r
-
end
e
x
c
han
g
e
r
a
t
e
s
o
f
m
one
t
a
r
y
a
ss
e
t
s
and
li
ab
ili
t
i
e
s
deno
mi
na
t
ed
i
n
f
o
r
e
ig
n
c
u
rr
en
ci
e
s,
a
r
e
r
e
c
o
g
n
is
ed
i
n
t
he
S
t
a
t
e
m
en
t
o
f
C
o
m
p
r
ehen
si
v
e
I
n
c
o
m
e
.