Company: APXIF
Filing Date: 2025-07-03
Form Type: F-4/A
Source: 0001213900-25-061545
Chunk: 689

Company: APx Acquisition Corp. I
Filing Date: 2025-07-03
Form: F-4/A
Chunk 689
---
 1,992,618 |     |           1,129,957 |     | 1,016,705 |

The fair values of non -currentborrowings are based on discounted cash flows using a current borrowing rate. They are classified as level 2 fair values in the fair value hierarchy (see note 3(d)).

F-148

Notes to Combined Financial Statements (Amounts in US Dollars, except otherwise indicated) 13.Trade and other payables

|                                |     |         As of 
 June 30, 2024 |     |         As of 
 June 30, 2023 |
|:-------------------------------|:----|--------------:|:----|--------------:|
| Trade payables                 |     |     1,502,292 |     |       399,234 |
| Tax payables                   |     |        59,560 |     |        64,202 |
| Total trade and other payables |     |     1,561,852 |     |       463,436 |

The fair value of payables approximates their respective carrying amounts because, due to their short -termnature, the effect of discounting is not considered significant. 14. Shared-based incentives Deferred Share Right Plan The Deferred Share Right plan (the “Plan”), established in 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, 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 disposal of all or substantially all of the Group’s assets, override the Vesting Conditions mentioned below. Specifically, if the acceleration feature is triggered by a Share Sale or Asset Sale, all DSRs will be immediately transferred to each participant. In the absent of any specific event, the Vesting Conditions mentioned below apply.