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Subsequent Events
 6 Months Ended
Dec. 31, 2024
Subsequent Events [Abstract]  
Subsequent Events
21.
 
Subsequent events
Proposed acquisition of Recharger
On November 20, 2024,
 
the Company announced the
 
acquisition of Recharger (Pty)
 
Ltd (“Recharger”).
 
The acquisition is
 
subject
to
 
the
 
satisfaction
 
of
 
customary
 
closing
 
conditions,
 
including
 
certain
 
regulatory
 
approvals.
 
As
 
of
 
January
 
29,
 
2025,
 
all regulatory
approvals, including approval by
 
the Competition Commission (South
 
Africa), were satisfied. The acquisition
 
is expected to close in
the third quarter of fiscal 2025.
The purchase
 
consideration of
 
ZAR
507
 
million will
 
be paid
 
over
two
 
tranches with
 
the first tranche
 
settled at closing
 
and the
second tranche
 
a year later.
 
The purchase consideration
 
will be settled
 
through a
 
combination of
 
ZAR
332
 
million in cash
 
and ZAR
175
 
million in shares of
 
the Company’s
 
common stock. The share
 
price applied to determine
 
the number of shares
 
of common stock
to be
 
issued for
 
the equity
 
consideration will be
 
based on
 
the volume-weighted
 
average price
 
of the Company’s
 
common shares
 
for
the three-month period prior
 
to the disbursal
 
of each tranche. The
 
Company will also
 
make a ZAR
43
 
million contribution to Recharger
at closing which will be used exclusively to repay a loan due by Recharger
 
to the seller.
The Company expects the acquisition
 
to act as an
 
entry point for it
 
into the South African
 
private utilities space while
 
augmenting
the Enterprise division’s alternative
 
payment offering.