Company: SLMT
Filing Date: 2025-05-28
Form Type: 20-F/A
Source: 0001213900-25-048029
Chunk: 63

Company: Brera Holdings PLC
Filing Date: 2025-05-28
Form: 20-F/A
Chunk 63
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 sale and purchase agreement,
this is generally the specified closing or completion date. While IFRS also defines control as having a majority of board seats or decision-making
authority, our Company has no board seats and no decision-making authority for Juve Stabia at December 31, 2024 and will not have such
a majority of board seats or authority until the final closing. Therefore, for the Juve Stabia acquisition, the date of the final closing
is date that final consideration will be paid and control of approximately % ownership will be obtained.

As of December 31, 2024, Brera’s ownership
in Juve Stabia was approximately % and no control had been obtained. Accordingly, the consideration paid as of December 31, 2024 should
be treated as an investment at cost and no consolidation of Juve Stabia’s financial information would be required as of that date.
It should be noted that IAS 28 states that ownership of % or more is evidence of significant influence. Under the equity method, on
initial recognition of an investment of % or more without control, the investment is recognized at cost. The carrying amount
is then increased or decreased to recognize the investor’s share of the subsequent profit or loss of the investee and to include
that share of the investee’s profit or loss in the investor’s profit or loss. We determined that the share of Juve Stabia’s
loss for one day in 2024 is immaterial.

As of December 31, 2024, we have recorded an investment of € 2,500,000(€ 2,000,000in Class B Ordinary Shares and € 500,000in cash) in connection with this transaction. F-30

Note 5 – Financial Instruments

The following table sets out the financial instruments
as at the end of the reporting period:

|                                               |     |     | December 31, 
         2024 |     |     | December 31, 
         2023 |
|:----------------------------------------------|:----|:----|-------------:|:----|:----|-------------:|
|                                               |     | EUR |              |     | EUR |              |
| Financial assets                              |     |     |              |     |     |              |
| Cash                                          |     |     |    1,531,994 |     |     |    2,293,518 |
| Trade and other receivables – outside parties