NOTES TO FINANCIAL STATEMENTS 31 December 2025 42 DISPOSAL OF SUBSIDIARIES (cont’d) Loss on disposal 2025 US$ Consideration received 1,199,040 Less: Net assets derecognised (1,823,978) Loss on disposal (Note 33) (624,938) Net cash outflow arising on disposal 2025 US$ Cash consideration received 1,199,040 Less: Cash and bank balances disposed - Disposal of subsidiary in the consolidated statement of cash flows 1,199,040 43 EVENTS AFTER THE REPORTING PERIOD On 8 January 2026, the Group has completed the acquisition of 51% of the issued shares in both TMP and BSM, for an aggregate consideration of US$127,500,000 paid to the sellers through (a) cash payment of US$23,501,100, (b) issuance of 275,196,480 ordinary shares in the Company at a share issuance price of S$0.40 per share (approximately US$85,998,900), and (c) the assignment of the US$18 million consideration receivable from the disposal of SBJ (Note 42). On the same day, the Group has also drawn down US$20 million from the Loan Facilities [Note 22 (c)] for this acquisition. Management is in the midst of performing a purchase price allocation exercise upon completion of the acquisition of TMP and BSM and the financial impact of which will be disclosed in the subsequent financial statements in 2026. On 4 March 2026, the Company has entered into a placement agreement with KGI Securities (Singapore) Pte Ltd (the placement agent) to issue up to 35,000,000 new ordinary shares at S$0.425 per share, raising gross proceeds of S$14,875,000. The proceeds were received on 11 March 2026, and the allotment and issuance of 35,000,000 shares were completed on 16 March 2026. 115 GEO ENERGY | ANNUAL REPORT 2025
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