v3.25.2
Related Party Transactions (Details)
 6 Months Ended
Sep. 30, 2024
USD ($)
Sep. 30, 2024
AUD ($)
Mar. 31, 2024
USD ($)
Related Party Transactions [Line Items]      
Consulting fees $ 444,000    
Consulting services 63,000    
Other benefits 56,000    
Borrowed amount [1],[2] 3,453,000  
Balance amount 106,000    
Salaries and wages 574,000    
Payroll bonuses 128,000    
Fees paid to individual of management 723,000    
Total cash bonus 21,000,000 $ 33,000,000  
Alexander Group Pty Ltd [Member]      
Related Party Transactions [Line Items]      
Other Directors fees paid 12,000    
Peter Rossbach [Member]      
Related Party Transactions [Line Items]      
Other Directors fees paid 4,000    
Australian Subsidiaries [Member]      
Related Party Transactions [Line Items]      
Fees paid to individual of management 63,000,000    
Fresh Air Investments FZCo [Member]      
Related Party Transactions [Line Items]      
Total cash bonus 577,000,000    
Shead Group Pty Ltd [Member]      
Related Party Transactions [Line Items]      
Borrowed amount 101,000 $ 150,000  
Accrued interest $ 5,000    
[1]

Pacific Green Energy Parks (UK) Limited, a wholly owned subsidiary of the Company, entered into four separate loan agreements with a group of independent third party lenders for a total £900,000 between May 15 and May 28, 2024. The Company also entered into a loan agreement with an independent third-party lender in the same group for $1,270,000 on May 28, 2024. The five loans are identical in terms. The loans incur a fixed premium of 20% of principal, payable in full on repayment of principal. The loans were repayable on December 31, 2024, or earlier if certain liquidity events occur (whose conditions were not met).

  

Should the Company default on the loan(s), the lender(s) can elect to convert up to 100% of the amounts outstanding to the equivalent value of ordinary shares in the Company at the Default Conversion Strike Price (defined as 0.7 x the Company’s average share price on the 10 business days before and after the Event of Default).

 

Between November 2024 and January 2025, certain loans were refinanced and certain loans were repaid. Refer to Note 16 for further details.
[2] The Company entered into five separate loan agreements between August 12, 2024 and September 24, 2024 with four third-party lenders and one related party as follows: ● The related party loan was agreed on August 13, 2024 with Shead Group Pty Ltd, an entity controlled by Alex Shead, for the Company to borrow AUD 200,000. ● The other loans with independent third parties were for a total AUD 750,000 and GBP 75,000. The loans all incur a fixed 20% premium payable upon repayment of principal. The loans were all repaid between January 8, 2025 and March 31, 2025.