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

Staff Costs (Tables)

v3.21.1
Staff Costs (Tables)
12 Months Ended
Jan. 31, 2021
Staff Costs  
Disclosure of Detailed Information About Employee Benefits Expense
    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

 
Employee benefits expense:                        
- Salaries and wages*     29,443       26,920       30,872  
- Defined contribution expenses     732       1,089       508  
      30,175       28,009       31,380  

 

*Included in the current year’s $29.4m is an accrual for phantom warrants of $11.6m which has been recognised as a brand transition, restructure and transaction expense in the consolidated statement of profit or loss and other comprehensive income. The Group uses the Black Scholes option pricing model to determine the fair value of the phantom warrants which have an exercise price of US$0.37 which vests in three tranches being 21 January 2021, 21 July 2021 and 21 January 2022 equal to 1.50% of the outstanding shares of the Company on the vesting date. There are no conditions or restrictions to receiving the benefit of all the phantom warrants for the full bonus calculation period. Each tranche of phantom warrants may be exercised for cash at any time in the three year period following vesting date and as such is recognised as a liability.