Liquidity risk Liquidity risk arises when the Group is unable to meet its financial obligations as they fall due. The Group is exposed to liquidity risk through its approach to capital management and its trading in the normal course of business. The Group’s objective is to maintain a balance between continuity of funding and flexibility through the use of loans and finance leases. The Group has appropriate procedures to manage cash flows by monitoring forecast cash flows to ensure that sufficient funds are available to meet its commitments. The Group manages its short-term liquidity requirements through rigorous cash management and the availability of a $2 million overdraft facility of which $nil was utilised at reporting date (2021: $nil). More Total Carrying Up to 3 3-12 1-2 2-5 than 5 contractual amount months months years years years cash flows 2021 $’000 $’000 $’000 $’000 $’000 $’000 $’000 Non-derivatives Payables 3,661 3,661 - - - - 3,661 Term borrowings 83,538 691 2,078 84,365 - - 87,134 Deferred consideration * 8,342 - - - 10,000 - 10,000 Gross-settled Derivatives Interest rate swaps – inflow - (11) (57) (205) (518) (244) (1,035) Interest rate swaps – outflow 3,909 410 1,175 1,369 1,518 495 4,967 Total financial liabilities 99,450 4,751 3,196 85,529 11,000 251 104,728 More Total Carrying Up to 3 3-12 1-2 2-5 than 5 contractual amount months months years years years cash flows 2021 $’000 $’000 $’000 $’000 $’000 $’000 $’000 Non-derivatives Payables 3,556 3,556 - - - - 3,556 Term borrowings 83,538 825 2,832 7,569 84,485 - 95,712 Deferred consideration * 8,666 - - - 10,000 - 10,000 Gross-settled Derivatives Interest rate swaps – inflow - (193) (931) (808) (1,314) - (3,246) Interest rate swaps – outflow (312) 397 971 759 1,253 - 3,380 Total financial liabilities 95,448 4,585 2,872 7,520 94,424 - 109,402 * Deferred consideration relates to $10 million payable to the Western Australian Government for the acquisition of Market City on 31 March 2026. The liability is initially recognised at fair value and subsequently measured at amortised cost using effective interest method. The amount is classified as non-current at the reporting date as the Group has an unconditional right to defer settlement of the liability until 31 March 2026. 45
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