Disposal Of Controlling Interest In FIHRST And KSNET (Tables)

6 Months Ended

Dec. 31, 2019

Disposal Of Controlling Interest In FIHRST And KSNET [Abstract]

Impact Of Deconsolidation Of FIHRST And Calculation Of Net Loss Recognized On Deconsolidation

						Total
Fair value of consideration received					$	11 749
Less: carrying value of FIHRST, comprising						1 870
	Cash and cash equivalents					854
	Accounts receivable, net					367
	Property, plant and equipment, net					64
	Goodwill (Note 8)					599
	Intangible assets, net					30
	Deferred income taxes assets					42
	Accounts payable					(7)
	Other payables					(1 437)
	Income taxes payable					(220)
	Released from accumulated other comprehensive income – foreign currency translation reserve (Note 13)					1 578
	Settlement assets					17 406
	Settlement liabilities					(17 406)
		Gain recognized on disposal, before tax				9 879
		Taxes related to gain recognized on disposal, comprising:				-
			Capital gains tax			2 418
			Release of valuation allowance related to capital gains tax previously unutilized(1)			(2 418)
		Transaction costs				136
				Gain recognized on disposal, after tax	$	9 743

(1) Net1 SA recorded a valuation allowance related to capital losses previously generated but not utilized. A portion of these unutilized capital losses was utilized as a result of the disposal of FIHRST and, therefore,the equivalent portion of the valuation allowance created was released.