Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Fair Value Loss on Convertible Notes Derivative and Warrants

v3.21.1
Fair Value Loss on Convertible Notes Derivative and Warrants
12 Months Ended
Jan. 31, 2021
Fair Value Loss On Convertible Notes Derivative And Warrants  
Fair Value Loss on Convertible Notes Derivative and Warrants
12 Fair value loss on Convertible Notes derivative and warrants

 

    For the Year Ended 31
January 2021
NZ$000’s
    For the Year
Ended 31
January 2020
NZ$000’s
    For the Year Ended 31
January 2019
NZ$000’s
 
Fair value loss on Convertible Notes and warrants     26,552       -       775  
                         

 

During the year ended 31 January 2021, the Group issued 3 convertible notes in February, April and July 2020 which contained embedded derivatives and warrants. IAS 32 requires the Group to measure the fair value of derivatives as at the inception date of the transaction and at each reporting period end until settled. The fair value of the embedded derivatives and warrants were determined using the Black-Scholes option pricing model. The charge in the year as a result of fair valuing the embedded derivatives was $26.6m.