Company: FRHC
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000924805-25-000031
Chunk: 213

Company: Freedom Holding Corp.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 213
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 table presents as of June 30, 2025, the maturities of the lease liabilities:Leases maturing during the period ending March 31, 2026$12,362202715,957 202811,819 20295,440 20303,434 Thereafter2,049 Total payments51,061 Less: amounts representing interest(10,019)Lease liability, net$41,042 Weighted average remaining lease term (in months)30Weighted average discount rate14 %Lease commitments for short-term operating leases as of June 30, 2025 and June 30, 2024 was approximately $2,229 and $1,896, respectively. The Group's rent expense for office space was $2,689 for the three months ended June 30, 2025 and $2,154 for the three months ended June 30, 2024.The Group has leases that involve variable payments tied to an index, which are considered in the measurement of operating lease ROU assets and operating lease liabilities.

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Table of ContentsFREEDOM HOLDING CORP.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)(All amounts in thousands of United States dollars, except share data, unless otherwise stated)

NOTE 22 – ACQUISITIONS OF SUBSIDIARIES

Acquisition of Astel Group Ltd.On April 30, 2025, the Company acquired 100% interest in Astel Group Ltd. Astel Group Ltd. is a provider of digital solutions and telecommunications services, and ranks among the largest telecom operators in Kazakhstan. Astel Group Ltd. provides advanced IT solutions including information security and cloud services.The purpose of the acquisition of Astel Group Ltd. was to use the acquired assets and licenses to develop our telecommunications business.At the reporting date, June 30, 2025, final valuation of Astel Group Ltd. was not completed. According to the preliminary results, as of April 30, 2025, the date of the acquisition of Astel Group Ltd., the fair value of net assets of Astel Group Ltd. was $20,604. The total purchase price was allocated as follows:As of April 30, 2025ASSETSCash and cash equivalents7,678 Fixed assets, net5,577 Margin lending, brokerage and other receivables, net5,487 Current income tax asset575 Intangible assets314