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Equity-Accounted Investments And Other Long-Term Assets (Tables) | 9 Months Ended
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Mar. 31, 2024
Ownership Percentage Of Equity-Accounted Investments | March 31, June 30, 2024 2023 Finbond Group Limited (“Finbond”) - % 27.8 % Sandulela Technology (Pty) Ltd ("Sandulela") 49.0 % 49.0 % SmartSwitch Namibia (Pty) Ltd (“SmartSwitch Namibia”) 50.0 % 50.0 %
Schedule Of Calculation Of Gain (Loss) On Disposal | Three months ended Nine months ended March 31, March 31, 2024 2023 2024 2023 Loss on disposal of Finbond shares: Consideration received in cash $ - $ 254 $ 3,508 $ 395 Less: carrying value of Finbond shares sold - (349) (2,112) (509) Less: release of foreign currency translation reserve from accumulated other comprehensive loss - (243) (1,543) (342) Add: release of stock-based compensation charge related to equity-accounted investment - 9 147 13 Loss on sale of Finbond shares $ - $ (329) $ - $ (443) Three months ended September 30, 2022 Gain on disposal of Carbon shares: Consideration received in cash in September 2022 $ 250 Less: carrying value of Carbon - Gain on disposal of Carbon shares: (1) $ 250 (1) The Company does not expect to pay taxes related to the sale of Carbon because the base cost of its investment exceeds the sales consideration received. The Company does not believe that it will be able to utilize the loss generated because Net1 BV does not generate taxable income.
Summary Of Movement In Equity-Accounted Investments | Finbond Other (1) Total Investment in equity Balance as of June 30, 2023 $ 3,040 $ 131 $ 3,171 Stock-based compensation 14 - 14 Comprehensive income: (956) 126 (830) Other comprehensive income 489 - 489 Equity accounted (loss) earnings (1,445) 126 (1,319) Share of net (loss) earnings (278) 126 (152) Impairment (1,167) - (1,167) Dividends received - (95) (95) Disposal of Finbond shares (2,096) - (2,096) Foreign currency adjustment (2) (2) (3) (5) Balance as of March 31, 2024 $ - $ 159 $ 159 (1) Includes Sandulela, and SmartSwitch Namibia; (2) The foreign currency adjustment represents the effects of the fluctuations of the ZAR and Namibian dollar, against the U.S. dollar on the carrying value.
Summary Of Other Long-Term Asset | March 31, June 30, 2024 2023 Total equity investments $ 76,297 $ 76,297 Investment in 5 % of Cell C (June 30, 2023: 5 %) at fair value (Note 4) - - Investment in 10 % of MobiKwik (June 30, 2023: 10 %) (1) 76,297 76,297 Investment in 87.5 % of CPS (June 30, 2023: 87.5 %) at fair value (1)(2) - - Policy holder assets under investment contracts (Note 7) 213 257 Reinsurance assets under insurance contracts (Note 7) 1,525 1,040 Total other long-term assets $ 78,035 $ 77,594 (1) The Company determined that MobiKwik and CPS do not have readily determinable fair values and therefore elected to record these investments at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. (2) On October 16, 2020, the High Court of South Africa, Gauteng Division, Pretoria ordered that CPS be placed into liquidation.
Summary Of Components Of Equity Securities Without Readily Determinable Fair Value And Held To Maturity Investments | Cost basis Unrealized holding Unrealized holding Carrying gains losses value Equity securities: Investment in MobiKwik $ 26,993 $ 49,304 $ - $ 76,297 Investment in CPS - - - - Held to maturity: Investment in Cedar Cellular notes (Note 2) - - - - Total $ 26,993 $ 49,304 $ - $ 76,297 Cost basis Unrealized holding Unrealized holding Carrying gains losses value Equity securities: Investment in MobiKwik $ 26,993 $ 49,304 $ - $ 76,297 Investment in CPS - - - - Held to maturity: Investment in Cedar Cellular notes - - - - Total $ 26,993 $ 49,304 $ - $ 76,297

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