Ordinary and Preference Shares

3 Months Ended

Jun. 30, 2022

Equity [Abstract]

Ordinary and Preference Shares

Note 6. Ordinary and Preference Shares

Ordinary shares

The Company’s issued and outstanding ordinary shares were as follows:

	Shares Issued  and Outstanding
	June 30, 2022		March 31, 2022		Par value
Ordinary shares		135,683,559		102,611,397	$	—
Total		135,683,559		102,611,397	$	—

During the quarter ended June 30, 2022, the Company issued 32,458,336 ordinary shares in a public offering of shares at $0.30 per share.

Preference shares

The Company’s issued and outstanding preference shares consist of the following:

	Shares Issued  and Outstanding				Liquidation amount per share
	June 30,  2022		March 31, 2022		June 30, 2022		March 31, 2022
7% Cumulative Redeemable    Preference shares		666,665		666,665	$	34.18	$	32.21
Total		666,665		666,665

The 7% Cumulative Redeemable Preference shares were issued to Ortho-Clinical Diagnostics Finco S.A.R.L., an affiliate of Ortho on January 29, 2015 at a subscription price of $22.50 per share. These preference shares are redeemable at the request of the shareholder on the "Redemption Trigger Date" which is currently the date of the ninth anniversary of the date of issue of the preference shares, but the Company may further extend the redemption date in one year increments up to the tenth anniversary of the date of issue. Because the 7% Cumulative Redeemable Preference shares are redeemable at the option of the shareholders, they are shown as a liability in the unaudited condensed consolidated balance sheet.