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Equity-Accounted Investments And Other Long-Term Assets
3 Months Ended
Sep. 30, 2025
Equity-Accounted Investments And Other Long-Term Assets [Abstract]  
Equity-Accounted Investments And Other Long-Term Assets
6.
Equity-accounted investments and other long-term assets
Refer to Note 9 to the Company’s audited consolidated
financial statements included in its Annual Report on Form 10-K for the
year ended June 30, 2025, for additional information regarding its equity
-accounted investments and other long-term assets.
Equity-accounted investments
The Company’s ownership
percentage in its equity-accounted investments as of September 30, 2025,
and June 30, 2025, was as
follows:
September 30,
June 30,
2025
2025
Sandulela Technology
(Pty) Ltd (“Sandulela”)
49.0
%
49.0
%
SmartSwitch Namibia (Pty) Ltd (“SmartSwitch Namibia”)
50.0
%
50.0
%
SmartSwitch Namibia
The
Company
recorded
a
loss on
impairment
of
equity-accounted
investment
of $
0.6
million
during
the three
months
ended
September 30, 2025, which primarily includes the release of accumulated
other comprehensive loss (refer to Note 12).
Other long-term assets
Summarized below is the breakdown of other long-term assets as of September
30, 2025, and June 30, 2025:
September 30,
June 30,
2025
2025
Investment in
5
% of Cell C (June 30, 2025:
5
%) at fair value (Note 5)
-
-
Investment in
87.5
% of CPS (June 30, 2025:
87.5
%) at fair value
(1)(2)
-
-
Policy holder assets under investment contracts (Note 8)
130
125
Reinsurance assets under insurance contracts (Note 8)
2,055
1,837
Other long-term assets
1,835
1,847
Total other long-term
assets
$
4,020
$
3,809
(1)
The
Company
determined
that
CPS
does
not
have
a
readily
determinable
fair
value
and
therefore
elected
to
record
its
investment 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.
6.
Equity-accounted investments and other long-term assets (continued)
Other long-term assets (continued)
Summarized below
are the components
of the Company’s
equity securities without
readily determinable
fair value and
held to
maturity investments as of September 30, 2025:
Cost basis
Unrealized
holding
Unrealized
holding
Carrying
gains
losses
value
Equity securities:
Investment in CPS
$
-
$
-
$
-
$
-
Total
$
-
$
-
$
-
$
-
Summarized below are the components of the Company’s
equity securities without readily determinable fair value and held to
maturity investments as of June 30, 2025:
Cost basis
Unrealized
holding
Unrealized
holding
Carrying
gains
losses
value
Equity securities:
Investment in CPS
$
-
$
-
$
-
$
-
Held to maturity:
Investment in Cedar Cellular notes
-
-
-
-