Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Loans and Borrowings (Tables)

v3.22.1
Loans and Borrowings (Tables)
12 Months Ended
Dec. 31, 2021
Borrowing costs [abstract]  
Schedule of Non-Current and Current Liabilities
As of December 31,
  2021 2020
  $’000 $’000
Non-current liabilities
Loan notes 200,000  — 
Unamortized fair value adjustment, discount, and debt issuance costs (31,399) — 
168,601  — 
Current liabilities
Convertible loan notes —  70,000 
Other 185  357 
185  70,357 
Disclosure of Changes in Loans and Borrowings from Financing Activities
Changes in Loans and Borrowings from Financing Activities

Albacore Notes VNV Loan Notes Unsecured Bonds Convertible Loan Notes Other Loans and Borrowings Total Loans and Borrowings
$’000 $’000 $’000 $’000 $’000 $’000
Balance at January 1, 2020
Changes from financing cash flows
Proceeds from issuance of notes and warrants 100,000 357 100,357
Total changes from financing cash flows 100,000 357 100,357
Other changes
Convertible loan notes converted (30,000) (30,000)
Total other changes (30,000) (30,000)
Balance at December 31, 2020
70,000 357 70,357
Balance at January 1, 2021
70,000 357 70,357
Changes from financing cash flows
Proceeds from issuance of notes and warrants 191,000 15,000 64,563 270,563
Payment of debt issuance costs (3,429) (1,375) (4,804)
Repayment of cash loan (7,000) (75,000) (82,000)
Total changes from financing cash flows 187,571 8,000 (11,812) 183,759
Other changes
Fair value of warrants issued (16,930) (16,930)
Unpaid debt issuance costs (2,801) (171) (2,972)
Amortization of fair value adjustment, discount, and debt issuance costs 761 3,983 4,744
Convertible loan notes converted (70,000) (70,000)
Non-cash conversion of loan notes to bonds (8,000) 8,000
Other loans and borrowings activity, net (172) (172)
Total other changes (18,970) (8,000) 11,812 (70,000) (172) (85,330)
Balance at December 31, 2021
168,601 185 168,786