v3.25.2
Related Party Transactions - Schedule of Transactions with Related Parties (Details) - USD ($)
$ in Thousands
6 Months Ended
Sep. 30, 2024
Mar. 31, 2024
Related Party Transaction [Line Items]    
Transaction with related parties $ 2,614  
Scott Poulter [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties 753  
Due to related parties 952  
Scott Poulter – Immediate Family [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties 18  
Other Directors [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties 87  
Due to related parties 363  
Other Management [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties 1,756  
Due to related parties 496  
Related Party [Member]    
Related Party Transaction [Line Items]    
Due to related parties 1,811 $ 1,499
Salaries and Wages [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties 785  
Salaries and Wages [Member] | Scott Poulter [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties  
Due to related parties  
Salaries and Wages [Member] | Scott Poulter – Immediate Family [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties [1] 18  
Salaries and Wages [Member] | Other Directors [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties  
Due to related parties  
Salaries and Wages [Member] | Other Management [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties [2] 767  
Due to related parties  
Salaries and Wages [Member] | Related Party [Member]    
Related Party Transaction [Line Items]    
Due to related parties  
Consulting [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties 1,389  
Consulting [Member] | Scott Poulter [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties [3] 507  
Due to related parties 202  
Consulting [Member] | Scott Poulter – Immediate Family [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties  
Consulting [Member] | Other Directors [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties [4] 16  
Due to related parties  
Consulting [Member] | Other Management [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties [5] 866  
Due to related parties 495  
Consulting [Member] | Related Party [Member]    
Related Party Transaction [Line Items]    
Due to related parties 697  
Other Benefits [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties 68  
Other Benefits [Member] | Scott Poulter [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties [6] 56  
Due to related parties 100  
Other Benefits [Member] | Scott Poulter – Immediate Family [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties  
Other Benefits [Member] | Other Directors [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties  
Due to related parties  
Other Benefits [Member] | Other Management [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties 12  
Due to related parties  
Other Benefits [Member] | Related Party [Member]    
Related Party Transaction [Line Items]    
Due to related parties 100  
Commission [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties 24  
Commission [Member] | Scott Poulter [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties [6] 24  
Due to related parties 12  
Commission [Member] | Scott Poulter – Immediate Family [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties  
Commission [Member] | Other Directors [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties  
Due to related parties  
Commission [Member] | Other Management [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties  
Due to related parties  
Commission [Member] | Related Party [Member]    
Related Party Transaction [Line Items]    
Due to related parties 12  
Directors Fees [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties 66  
Directors Fees [Member] | Scott Poulter [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties  
Due to related parties  
Directors Fees [Member] | Scott Poulter – Immediate Family [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties  
Directors Fees [Member] | Other Directors [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties [7] 66  
Due to related parties 257  
Directors Fees [Member] | Other Management [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties  
Due to related parties  
Directors Fees [Member] | Related Party [Member]    
Related Party Transaction [Line Items]    
Due to related parties 223  
Cash Bonus [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties 50  
Cash Bonus [Member] | Scott Poulter [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties 50  
Due to related parties [8] 577  
Cash Bonus [Member] | Scott Poulter – Immediate Family [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties  
Cash Bonus [Member] | Other Directors [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties  
Due to related parties  
Cash Bonus [Member] | Other Management [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties  
Due to related parties  
Cash Bonus [Member] | Related Party [Member]    
Related Party Transaction [Line Items]    
Due to related parties 577  
Reimbursed Expenses [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties [9] 227  
Reimbursed Expenses [Member] | Scott Poulter [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties [9] 116  
Due to related parties [9] 61  
Reimbursed Expenses [Member] | Scott Poulter – Immediate Family [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties [9]  
Reimbursed Expenses [Member] | Other Directors [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties [9]  
Due to related parties [9]  
Reimbursed Expenses [Member] | Other Management [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties [9] 111  
Due to related parties [9] 1  
Reimbursed Expenses [Member] | Related Party [Member]    
Related Party Transaction [Line Items]    
Due to related parties [9] 62  
Director Loans [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties 5  
Director Loans [Member] | Scott Poulter [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties  
Due to related parties  
Director Loans [Member] | Scott Poulter – Immediate Family [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties  
Director Loans [Member] | Other Directors [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties [10] 5  
Due to related parties [10] 106  
Director Loans [Member] | Other Management [Member]    
Related Party Transaction [Line Items]    
Transaction with related parties  
Due to related parties  
Director Loans [Member] | Related Party [Member]    
Related Party Transaction [Line Items]    
Due to related parties $ 106  
[1] One member of Scott Poulter’s immediate family is employed by the Company’s Australian wholly-owned subsidiaries.
[2] Salaries and wages paid to other management includes salaries of $574,000 and payroll bonuses of $128,000, both have been recorded within salaries and wages expenses in the income statement.
[3]

Consulting fees of $444,000 paid in relation to Scott Poulter’s compensation during the period have been recorded within management and technical consulting expense in the income statement. Consulting fees were paid to Fresh Air Investments FZCo (“FAI”), a company incorporated in the United Arab Emirates which Scott Poulter has sole dispositive control over. Scott Poulter is in the process of establishing a foundation to share beneficial ownership of FAI with family members.

 

From April 1, 2024, Fresh Air Holdings Limited (“FAHL”) provided consulting services to the Company of $63,000 which has been recorded within management and technical consulting expense in the income statement. These services were performed by individual who is not Scott Poulter and is not an immediate family member of Scott Poulter. This arrangement ceased on July 31, 2024. FAHL is a wholly owned subsidiary of the Hookipa Trust, a family trust which Scott Poulter and his immediate family members are beneficiaries.

[4] Consulting fees paid to Other Directors include $12,000 fees paid to Alexander Group Pty Ltd, a company controlled by Alex Shead in relation to his director fees of Australian subsidiaries of the Company. Consulting fees paid to Other Directors also include share-based payments of $4,000 paid to Peter Rossbach. These amounts have been recorded within management and technical consulting in the income statement.
[5] Consulting fees paid to other members of management are recorded within management and technical consulting in the income statement. This includes $723,000 fees paid to an individual of management who is not an employee of the Company but acts in a senior role within the Company. This also includes $63,000 paid by Australian subsidiaries of the Company to a company controlled by an immediate family member of one member of management. These fees have been capitalized to project under development.
[6] The other benefits of $56,000 paid to Scott Poulter relates to accommodation allowance pursuant to a consulting agreement dated December 1, 2018 and is recorded within travel and accommodation expenses in the income statement. Commission relates to Marine sales and is recorded within the cost of goods sold in the income statement.
[7] Directors fees have been recorded in management and technical consulting in the income statement and relate to fees paid to directors of the Company. These fees comprise of fees paid to Neil Carmichael, Distributed Generation LLC (a company controlled by Peter Rossbach) and Alexander Group Pty Ltd.
[8] As at September 30, 2024, the Company owe a total of $577,000 in bonuses to Fresh Air Investments FZCo (“FAI”) relating to the performance bonus in relation to the sale of REP and Sheaf in the last fiscal year. FAI is a company incorporated in the United Arab Emirates which Scott Poulter has sole dispositive control over. Scott Poulter is in the process of establishing a foundation to share beneficial ownership of FAI with family members.
[9] Reimbursed expenses relate to travel, accommodation, and meals incurred by employees and directors during the course of normal business and reimbursed to the employee or director. They are recorded within travel and accommodation expenses in the income statement.
[10] As at September 30, 2024, the Company borrowed $101,000 (AUD 150,000) from Shead Group Pty Ltd, a company controlled by Alex Shead. The balance owed of $106,000 as at September 30, 2024 includes $5,000 in accrued interest. The balance is included in short-term loans. Refer to Note 10 for further details.