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UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Loss for the period $ (10,074) $ (11,797)
Adjustments to reconcile net profit/(loss) to cash provided by operating activities:    
Depreciation 99 656
Amortisation 745 430
Income tax (charge)/credit (64) (278)
Financial income (55) (216)
Financial expense 3,100 6,374
Share-based payments 926 2,339
Foreign exchange gains on operating cash flows 408 (187)
Impairment charges 446 10,815
Gain on sale of business 0 (12,718)
Other non-cash items (208) 130
Net movement on working capital (469) (2,657)
Cash used in operations (5,146) (7,109)
Income taxes received/(paid) 1,227 (26)
Net cash used in operating activities (3,919) (7,135)
Cash flows from investing activities    
Payments to acquire intangible assets (4,492) (768)
Acquisition of financial assets 0 (700)
Net proceeds from sale of business unit 0 28,426
Payments to acquire trades or businesses (12,500) 0
Acquisition of property, plant and equipment (138) (425)
Net cash generated by / (used in) investing activities (17,130) 26,533
Cash flows from financing activities    
Issue of ordinary share capital including share premium (270) 0
Net proceeds from new senior secured term loan 28,175 5,000
Expenses paid in connection with debt financing 0 (147)
Repayment of senior secured term loan 0 (10,050)
Penalty for early settlement of term loan 0 (905)
Interest paid on senior secured term loan (3,830) (4,401)
Interest paid on convertible note (150) (150)
Interest payment on exchangeable notes (4) (4)
Payment of lease liabilities (1,159) (1,191)
Net cash used in financing activities 22,762 (11,848)
Increase/(decrease) in cash and cash equivalents and short-term investments 1,713 7,550
Effects of exchange rate movements on cash held (87) 100
Cash and cash equivalents and short-term investments at beginning of period 3,691 6,578
Cash and cash equivalents at end of period $ 5,317 $ 14,228