Leases |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases |
15. Leases
During the year ended December 31, 2023, the Group entered into a lease for an office space. The right-of-use asset relating to this lease has been included in property, plant and equipment. At the lease
commencement date, the right-of-use asset was recognized at the present value of the future lease payments, discounted at the Group’s incremental borrowing rate which was calculated as 6%.
At December 31, 2025, the Group’s lease liability was $0.5 million (2024: $0.6 million). Interest expense of $35 thousand was recognized
on lease liabilities in the year ended December 31, 2025 (2024: $48 thousand). The following table sets out the
maturity analysis of lease payments, on an undiscounted basis.
Lease expenses for short-term leases were $30 thousand for the year ended December 31, 2025 (2024: $29 thousand, 2023: $0.1 million).
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