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INTEREST-BEARING LOANS AND BORROWINGS (Tables)
12 Months Ended
Dec. 31, 2025
Disclosure Of Interest-bearing Loans And Borrowings [Abstract]  
Schedule of Borrowings

 

December 31, 2025

 

December 31, 2024

 

US$‘000

 

US$‘000

Current liabilities

 

 

 

Exchangeable senior notes

210

 

210

Senior secured term loan

108,015

 

-

 

 

 

 

Total current liabilities

108,225

 

210

 

 

December 31, 2025

 

December 31, 2024

 

US$‘000

 

US$‘000

Non-Current liabilities

 

 

 

Senior secured term loan

-

 

72,391

Derivative financial liability

3,320

 

1,658

Contingent liability (Note 29)

-

 

1,813

Convertible note

16,330

 

15,401

 

 

 

 

Total non-current liabilities

19,650

 

91,263

 

 

December 31, 2025

 

December 31, 2024

 

US$‘000

 

US$‘000

Non-Current assets

 

 

 

Derivative financial asset

249

 

166

 

 

 

 

Total non-current assets

249

 

166

Schedule of Exchangeable Notes Balance

 

December 31, 2025

 

December 31, 2024

 

US$‘000

 

US$‘000

Balance at January 1

(210)

 

(210)

 

 

 

 

Liability

(210)

 

(210)

Schedule Of Movement In Term Loan

 

December 31, 2025

 

December 31, 2024

 

US$‘000

 

US$‘000

Balance at January 1

(72,391)

 

(40,109)

Drawdowns under old loan (pre‑extinguishment)

(10,000)

 

(30,500)

Loan drawdown costs (pre‑extinguishment)

339

 

325

Payment-in-kind (PIK) Interest

(11,399)

 

(3,291)

Accretion interest (Note 6)

(2,646)

 

(2,355)

Non-cash loan modification gain

1,706

 

3,567

Extinguishment of old loan (IFRS 9 derecognition)

93,323

 

-

Initial recognition of new term loan

(101,947)

 

-

Loan drawdown under new term loan

(5,000)

 

 

Derivative financial asset at date of drawdown

-

 

(28)

 

 

 

 

Balance at December 31

(108,015)

 

(72,391)

Schedule of Derivative Financial Asset

 

December 31, 2025

 

December 31, 2024

 

US$‘000

 

US$‘000

Balance at January 1

166

 

178

Derivative financial asset at date of drawdown

-

 

28

Fair value adjustments in the period (old derivative)

(166)

 

(40)

Initial recognition of new derivative asset (call option)

249

 

-

 

 

 

 

Non-current asset at December 31

249

 

166

Schedule of Derivative Financial Liability

 

December 31, 2025

 

December 31, 2024

 

US$‘000

 

US$‘000

Balance at January 1

(1,658)

 

(526)

Derivative financial liability at date of drawdown

-

 

(1,066)

Fair value adjustments in the period

(179)

 

(66)

Recognition of new derivative liabilities (conversion options)

(1,483)

 

-

 

 

 

 

Non-current liability at December 31

(3,320)

 

(1,658)

Schedule of Term Loan And The 7-Year Convertible Notes

 

December 31, 2025

 

December 31, 2024

 

US$‘000

 

US$‘000

Balance at January 1

(15,401)

 

(14,542)

Accretion interest

(929)

 

(859)

 

 

 

 

Non-current liability at December 31

(16,330)

 

(15,401)