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Deferred Purchase Price
12 Months Ended
Dec. 31, 2025
Deferred purchase price.  
Deferred purchase price

7

Deferred Purchase Price

The movement in the deferred purchase price is as follows:

  ​ ​ ​

As of 31 December

2025

  ​ ​ ​

2024

USD

USD

Opening balance

1,148,013

 

1,207,682

Change in fair value

(158,154)

 

1,865,274

Issuance of shares

(295,725)

(1,924,943)

Ending balance

694,134

 

1,148,013

The deferred purchase price consists of outstanding cash payments and share issuances. The change in fair value is a result of revaluing the shares outstanding to reflect share price as per the purchase agreements. Management has not used any complex assumptions in arriving at the fair value of the deferred purchase price.

Pursuant to the terms of the acquisition agreements for Urbvan, any uncalled and unissued warrants expire on 30 June 2025. As at the expiry date, 47,198 warrants remained uncalled and unissued and therefore expired.

The deferred purchase price is detailed as follows:

  ​ ​ ​

As of 31 December 

2025

  ​ ​ ​

2024

USD

USD

Shotl

 

685,346

 

627,158

Urbvan

 

 

491,344

Door2Door

 

8,788

 

29,511

 

694,134

 

1,148,013

  ​ ​ ​

As of 31 December

Maturity analysis

  ​ ​ ​

2025

  ​ ​ ​

2024

USD

USD

Less than one year (current)

694,134

1,148,013

 

694,134

 

1,148,013