23.
RELATED PARTY
TRANSACTIONS
Related parties of the Executive Chairman
The Company's Executive Chairman
also serves as
Chairman of a Teya Holdings Ltd.
(“Teya”), a group of privately
held entities.
Certain entities within the Teya group
engage in transactions with the Company in the ordinary course of business. The Company has
evaluated these
arrangements and
determined that
the related transactions
were immaterial,
individually and
in the aggregate,
to the
Company's consolidated financial statements for the periods presented
.
Related parties of a non-employee director
One of the Company's non-employee directors
(Mr. Dean Sparrow) also serves as director
and chief executive officer of Crossfin
Holdings.
Crossfin Holdings has an indirect shareholding in VantagePay
and Mr. Sparrow is a director of VantagePay.
The Company
a
nd VantagePay
have engaged in a transaction in the ordinary course of business, refer to Note 4 for additional
information.