Company: APXIF
Filing Date: 2025-07-03
Form Type: F-4/A
Source: 0001213900-25-061545
Chunk: 648

Company: APx Acquisition Corp. I
Filing Date: 2025-07-03
Form: F-4/A
Chunk 648
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        — |   |     |  350,975 |     |   350,975 |   |
| Balance as of December 31, 2023 |     |  728,952 |   |     |  390,175 |     | 2,249,084 |   |

Fair value Bank loans fair values are not materially different from their carrying amounts, since they are of a short -termnature.

F-106

Notes to Unaudited Interim Condensed Combined Financial Statements (Amounts in US Dollars, except otherwise indicated) 12.Financial liabilities (cont.) In relation to loans from related parties, fair values are as follows:

|                            |     | As of December 31, 2024 |     |           |     | As of June 30, 2024 |     |           |
|:---------------------------|:----|------------------------:|:----|----------:|:----|--------------------:|:----|----------:|
|                            |     |               Amortized 
                    cost |     |      Fair 
     value |     |           Amortized 
                cost |     |      Fair 
     value |
| Loans from related parties |     |               3,151,436 |     | 2,409,651 |     |           2,661,008 |     | 1,992,618 |

The fair values of non -currentborrowings are based on discounted cash flows using a current borrowing rate. 13. Shared -based incentives Deferred Share Right Plan The Deferred Share Right plan (the “Plan”), established in October 2024 at the sole discretion of the Shareholders of Heritas Ltd. to provide long -termincentives for key employees, advisors, and contractors, aims to deliver long -termvalue to shareholders by incentivizing participants to improve business performance. Under the Plan, participants are granted Deferred Share Rights (“DSRs”) in the Parent entity, Heritas Ltd. These rights entitle participants to receive shares in Heritas Ltd. upon the fulfilment of certain service -basedand/or performance -basedconditions. Participation in the Plan is determined solely by the Board of Heritas Ltd., and no participant has a contractual right to receive any guaranteed benefits. The Plan includes a conditional vesting acceleration feature, whereby all unvested shares will fully vest upon the occurrence of specific events, such as a “Share Sale” or “Asset Sale”. These events, which result in a change of control or the