Company: GHRS
Filing Date: 2025-07-29
Form Type: 20-F/A
Source: 0001140361-25-027850
Chunk: 284

Company: GH Research PLC
Filing Date: 2025-07-29
Form: 20-F/A
Chunk 284
---
 position for cash and cash equivalents represents the Group’s maximum exposure to credit risk for these instruments. F-18 Table of Contents At December 31, 2024, the Group holds investments in investment grade bonds and in money market funds (“the Portfolio”). These investments are exposed to credit risk in the event of default of the counterparty. The Group does not invest in equity instruments or derivatives and noneof the bonds are individually above 3% of the value of the Portfoli o.

The Group’s marketable securities, measured at FVOCI, are subject to the expected credit loss model. The Group provides for expected credit losses as prescribed by IFRS 9 for its assets held at FVOCI. The expected credit loss model under IFRS 9 requires the calculation of “12 month expected credit losses” for financial assets. Those are the losses based on defaults which are possible within 12 months of the reporting date. This is required unless the asset is not considered to be of low credit risk at the reporting date and is deemed to have had a significant increase in credit risk since initial recognition. If that is the case, lifetime expected credit losses should be recorded. Management considers low credit risk for existing marketable securities to be an investment grade credit rating with at least one major rating agency. Assets held at FVOCI are considered to have low credit risk when they have a low risk of default and the issuer has a strong capacity to meet its contractual cash flow obligations in the short term. The Group’s current policy is to invest primarily in investment grade securities. After a downgrade, compliance with this restriction is restored in a timely manner. The credit risk for the Group’s marketable securities is considered to be low as of December 31, 2024. The impairment allowance recognized during the period was calculated based on 12 month expected credit losses and reconciles to the opening impairment allowance as follows:**

|                                                  |     | Year ended   
 December 31, | 2024 |   |     |       | 2023 |   |
|:-------------------------------------------------|:----|:-------------|-----:|:--|:----|:------|-----:|:--|
|                                                  |     | $’000        |      |   |     | $’000 |      |   |
| Opening impairment allowance                     |     |              |  120 |   |     |       |  121 |   |
| Movement in impairment allowance during the year |     |              |  (66 |