Company: FRHC
Filing Date: 2025-02-07
Form Type: 10-Q
Source: 0000924805-25-000002
Chunk: 104

Company: Freedom Holding Corp.
Filing Date: 2025-02-07
Form: 10-Q
Item: Part I, Item 1
Chunk 104
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 telecommunications networks in private and public sectors.The purpose of the acquisition of SilkNetCom LLP was to use the acquired assets and licenses to develop our telecommunications business.As of September 17, 2024, the date of the acquisition of SilkNetCom LLP, the fair value of the net assets of SilkNetCom LLP was $23,672. The total purchase price was allocated as follows:As of September 17, 2024ASSETSCash and cash equivalents54 Margin lending, brokerage and other receivables, net7,417 Fixed assets, net41,770 Other assets, net270 TOTAL ASSETS49,511 LIABILITIESMargin lending and trade payables3,519 Current income tax liability5 Other liabilities22,315 TOTAL LIABILITIES 25,839 Net assets acquired23,672 Goodwill 208 Total purchase price23,880 Acquisition of EliteComOn October 17, 2024, the Company completed the acquisition of EliteCom LLP by purchasing 100% of its participating interest. EliteCom LLP provides telecommunications services, including Internet access, telephone services and cable television for individuals (B2C), provision of Internet access services for legal entities (B2B). The purpose of the acquisition of EliteCom LLP was to use the acquired assets and licenses to develop our telecommunications business.As of October 17, 2024, the date of the acquisition of EliteCom LLP, the fair value of the net assets of EliteCom LLP was $1,721. The total purchase price was allocated as follows: 

48

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)

As of October 17, 2024ASSETSCash and cash equivalents38 Margin lending, brokerage and other receivables, net84 Fixed assets, net1,890 Intangible assets674 Other assets, net84 TOTAL ASSETS2,770 LIABILITIESMargin lending and trade payables24 Current income tax liability30 Other liabilities995 TOTAL LIABILITIES 1,049 Net assets acquired1,721 Goodwill 1,298 Total purchase price3,019 

NOTE 23 – COMMITMENTS AND CONTINGENT LIABILITIES

Legal, regulatory and governmental mattersThe Group is involved in various claims and legal