Rangatira Annual Report 2025 - Flipbook - Page 56
Rangatira Investments
F. Listed equity price risk and other price risk sensitivity analysis
The Group is also exposed to listed equity price risks arising from listed equity investments.
A sensitivity analysis of this exposure to listed equity price risks at reporting date shows if the market price had
been 1% higher or lower, while all other variables were held constant, the investment held at fair value reserve
would have increased or decreased by $552,000 (2024: $690,000) and the financial assets at fair value through
profit or loss by $nil (2024: $19,000)
G. Liquidity risk management
The company has no financial liabilities at balance date.
Less than
1 month
$000
1 -3 months
$000
3 months
to 1 year
$000
1 - 5 years
$000
5+ years
$000
Total
$000
6,210
1,273
821
-
-
8,304
Variable interest rate instruments
-
700
7,169
-
-
7,869
Fixed interest rate instruments
-
-
1,254
1,812
-
3,066
6,210
1,973
9,244
1,812
-
19,239
2024
Financial liabilities
Non-interest bearing
Total financial liabilities
Note 15 Other Liabilities - Share based payments
A long-term incentive plan (LTIP) is currently in place for certain employees to earn shares across three year
periods. This began in FY23, with an allocation having been made every year since. This gives participants the
rights to the Company’s A shares upon meeting or exceeding set three-year performance total shareholder return
(TSR) hurdles.
The LTIP contains a net of tax settlement feature where the Company will withhold a number of shares, equal to
the value of the employees’ tax obligations. The Company will settle the employee’s tax obligation through PAYE
payment, directly to Inland Revenue on the employee’s behalf. Accordingly:
•
The award of shares to the employee net of their tax obligations is classified as an equity-settled sharebased payment transaction, with non-market performance conditions and a service condition; and
•
The amount the Company expects to pay Inland Revenue to settle the employees’ tax obligation in relation to
the LTIP is classified as a cash-settled share-based payment transaction.
Equity-settled portion of the LTIP
The following table summarises the movements in the reserve related to progress toward the vesting of share
rights in the Company’s share based payment reserve:
2025
$000
2024
$000
Opening Balance
340
98
Progress toward share rights (expense recognised through profit or loss)
252
242
592
340
Amounts recognised reflect the Company’s estimate of results against the LTIP’s performance, completion against
the vesting period, and the fair value of the shares on grant date at each allocation. Currently, the Company
expects all conditions to be met. The fair value on grant date has been determined based market transaction of
the Company’s shares on or close to the grant date, and takes into account that the share rights do not provide
dividends and employees have no voting rights attached to the shares until they are issued.
56
