Company: FRHC
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000924805-25-000041
Chunk: 118

Company: Freedom Holding Corp.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 118
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 period ending March 31, 2026$8,951202715,782 202811,876 20295,654 20303,672 Thereafter2,077 Total payments48,012 Less: amounts representing interest(9,208)Lease liability, net$38,804 Weighted average remaining lease term (in months)27Weighted average discount rate15 %Lease commitments for short-term operating leases as of September 30, 2025 and September 30, 2024 was approximately $1,810 and $1,368, respectively. The Group's rent expense for office space was $2,969 and  for $5,658 the three and six months ended September 30, 2025 and $2,339 and $4,493 for the three and six months ended September 30, 2024, respectively.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, September 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 Other assets, net3,320 TOTAL