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The loand otand/orepres The BLTIP i● w● th● th● th● th● th● a GroupRemuRefer Use oDuringadvise VotingAt theJune 2 Detail AmouThe K● B● O● P Detail


ong-term incther KMP of r performansents a right

Board has soincluding, bu

which individuhe number ofhe fee payabhe terms (e.ghe exercise phe period durny forfeiture

p's performanuneration for

to section 'D

of remuneratig the finance upon its ex

g and commee 2016 AGM2016. The co

ls of remune

unts of remunKMP of the grBill Butler - COliver ShanaPaul Jeronim

s of the remu

gs Limited

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ard granted tord can be exestrictions ap

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2017, the gcies, includin

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igned to assg rules and urcise price) d vests and is

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et out in the f

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e awards and

rformance anrt for details.

not engaged mentation of t

al Meeting ('Aoption of thethe AGM reg

ngs Limited a017)

following tab

ward, retentims of the LT

participants (by the releva

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d shares rece

nd the perfo

any remunethe LTIP.

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and the follow

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on and motivTIP, the Boar('awards'). Eant participan

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me exercisab

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eview or

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For

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TopBDirect30 Ju

2017 Non-EDirectNichoMatthSimon ExecuDirectTodd OtherBill BuOliverPaul J * R

2016 Non-EDirectNichoMatthSimon ExecuDirectTodd OtherBill BuOliverPaul J * R** R


Executive tors:

olas Chan hew Cain n Dulhunty

utive tors: Buckingham

r KMP: utler * r Shanahan Jeronimo

Remuneratio

Executive tors:

olas Chan * hew Cain * n Dulhunty *

utive tors: Buckingham

r KMP: utler r Shanahan Jeronimo **

RemuneratioRemuneratio

gs Limited

S Cash salar

and fees $

91,324 45,662 45,662

m 180,000 136,494 158,462 160,00 817,605

on until date o

S Cash salar

and fees $

49,877 24,939 24,939

m 146,995 130,84 132,849 46,154 556,594

on from date on from date

Short-term be

ry

Cash bonus $

4 2 2

0 36,00

4 2 1 5 36,00

of resignatio

Short-term be

ry

Cash bonus $

7 9 9

5

1 9 4 4

of appointmeof appointme

enefits

Non- moneta $

- - -

00 5,0

- - -

00 5,0

n as KMP.

enefits

Non- moneta $

- - -

- 5,5

- - - - 5,5

ent of KMP aent of KMP.

11

Postemploym

benef

Supeary annuat

$

- 8,- 4,- 4,

023 20,

- 8,- 15,- 15,

023 76,

Postemploym

benef

Supeary annuat

$

- 4,- 2,- 2,

511 13,

- 12,- 12,- 4,

511 52,

and represen

t-ment fits

Long-tbene

er- Leavtion bene

$

642 338 338

520

331 054 200 423

t-ment fits

Long-tbene

er- Leavtion bene

$

738 369 369

964

430 613 385 868

nts the direct

term efits Shar

ve Equsett

efits sha$

---

-

----

term efits Shar

ve Equsett

efits sha$

-- 3-

-

---- 3

tor fees.

re-based pay

uity-tled

Eqse

ares opt$

- - -

-

- - - 2- 2

re-based pay

uity-tled

Eqse

ares opt$

- 134,100 9

- 9

- 60

- - -

4,100 92

yments

quity-ettled tions T$

300 1300 300

- 2

- 1- 1

29,000 229,900 9

yments

quity-ettled tions T$

30,000 197,500 197,500 1

03,340 7

- 1- 1-

28,340 1,5

Total

$

100,266 50,300 50,300

241,543

144,825 173,516 204,201 964,951

Total

$

184,615 158,908 124,808

769,810

143,271 145,462 50,539

577,413 For

per

sona

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TopBDirect30 Ju

ServicRemuare as NameTitle: AgreeTerm

Detai


ce agreemeuneration ands follows:

e:

ement commof agreemen

ls:

gs Limited

ents d other terms

menced: nt:

s of employm

Todd Mana 8 No Fixedan on

Todd(exclrecei In ad(1) Toptioordincond● thecons● thequoteoptio● a coptio (2) Toptiopaid cond● the('EBIthe d● the$1.00● a coptio Both was $ Todd After givingConscircudutiesharesubje12 m The BentitlsalaruponoperaendeTodd

ment for KMP

d Buckinghamaging Directovember 2015d term for twongoing basisd Buckinghamuding superave plus a mo

ddition, the coranche 1 - 1

on term of fivenary shares initions being e group achiecutive mone company'sed on the AS

ons; or change of co

ons.

ranche 2 - 6on term of five

ordinary shaitions being e group achiTDA') of $1

date of issue e company's0 within five ychange of co

ons.

tranches we$0.047 for tra

d is also eligi

r the initial twg six monthsstitution, subjmstances, th

es as Managieholders for ect to a restra

months follow

Board has aged to a short

ry. The cashn the satisfacational perfo

ed 30 June 2d.

12

P are formali

m or and Chief 5 o years and

s. m receives aannuation) wotor vehicle a

ompany has 0,000,000 ope years. Then the compamet: eving gross ths within fiv

s 20 day voluSX being at le

ontrol event o

,667,000 opte years. Tho

ares in the comet: eving Earninmillion over aof the option

s 20 day VWAyears of the

ontrol event o

ere granted oanche 1 and

ble to partici

wo year fixed s' notice in wject to the rehe Board detng Director, his removal aint on solici

wing the termi

greed that, int term cash i

h incentive is ction of variourmance. One017 and acc

ised in servic

Executive O

upon expiry

total fixed rewhich includeallowance of

issued to Toptions each w

e options will ny upon the

revenue of ave years of thume weightedeast $0.50 w

occurring wit

tions each wose options wompany upon

ngs, Before Ia period of thns; AP of its shadate of issueoccurring wit

on 12 Novemd $0.020 for t

pate in the L

term, Todd writing. In addequirements otermines thatthe Board meither duringtation of clieination of his

n lieu of any ncentive (incpayable in t

us milestonee of the cond

cordingly, $36

ce agreemen

Officer

may be mut

emuneration es all non-casf $18,000 per

odd: with an exerconly vest anearlier of eit

at least $3 mhe date of issd average pr

within five yea

thin five year

with an exerciwill only vest n the earlier

nterest, Tax,hree consecu

ares as quotee of the optiothin five year

mber 2015 antranche 2.

LTIP.

may terminadition to the rof the Corpot Todd is not

may recommeg the fixed tents, supplier

s employmen

increase to hcluding supehree tranche

es of the Comditions was s6,000 of the

nts. Details o

ually extende

of $180,000sh benefits hr annum.

cise price of nd be exercisther of the fo

illion over a sue of the oprice ('VWAP')ars of the dat

rs of the date

se price of $and be exercof either of th

, Depreciatioutive months

ed on the ASons; or rs of the date

nd the fair va

ate his emploights provide

orations Act, t satisfactorilyend and put rm or otherw

rs and emplont.

his annual sar) of up to 10es, each of wmpany's finansatisfied durincash incentiv

of these agre

ed to continu

0 per annum he may be en

$0.25 and wsable into fullllowing vesti

period of threptions; ) of its sharete of issue of

e of issue of t

$0.25 and witcisable into fhe following

on and Amorts within five y

SX being at le

e of issue of t

alue at grant

oyment contraed under the if, amongst oy performinga resolution

wise. Todd woyees for a pe

alary, Todd w00% of his bawhich is condncial and ng the financve has been

eements

ue on

ntitled to

with an ly paid ng

ee

s as f the

the

th an fully vesting

tisation years of

east

the

date

act by

other g his to the ill be eriod of

will be ase

ditional

cial year paid to

For

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TopBDirect30 Ju

NameTitle: AgreeTerm Detai

NameTitle: AgreeTerm Detai

KMP h Share Issue No sh OptionThe tedirecto Name Nicho Todd - TranTodd - TranMatth Simon Paul J


e:


ls:

e:


ls:

have no entit

e-based com

of shares hares were is

ns erms and coors and othe

e

olas Chan

Buckinghamnche 1 Buckingham

nche 2 hew Cain

n Dulhunty

Jeronimo

gs Limited

menced: nt:

menced: nt:

tlement to te

mpensation

ssued to direc

nditions of eer KMP in this

Number options granted 2,000,0 1,500,0

m 10,000,0

m 6,667,0

1,500,0 1,500,0 1,500,0 1,500,0 2,000,0

Olive Chief 1 Jul Ongo Oliveand i● ma● a d● the Olivewritinweekusuaconfirestri

Paul Chief 21 M Ongo Paul is als● ma● a d● the The gnoticperiothe pto an

ermination pa

ctors or othe

each grant ofs financial ye

of s d Grant d

000 12/11/2000 16/03/2

000 12/11/2

000 12/11/2

000 12/11/2000 16/03/2000 12/11/2000 16/03/2000 28/07/2

er Shanahanf Informationy 2014 oing basis er Shanahan s also eligibl

andatory supdiscretionary e LTIP.

er may terminng and the grks’ notice in wal summary ddential informictions on his

Jeronimo f Information

March 2016 oing basis Jeronimo re

so eligible forandatory supdiscretionary e LTIP.

group or Paue in writing, o

od, in additionprotection of ny other restr

ayments in th

er KMP as pa

f options issuear or future

date

2015 2017

2015

2015 2015 2017 2015 2017 2016

13

n Officer

receives an le for: erannuation bonus and i

nate his emproup may terwriting, or by

dismissal gromation and ins activities af

n Officer

eceives an anr: erannuation bonus and i

ul may terminor by the gron to the usuaconfidential irictions on hi

he event of re

art of compen

ued by 30 Jureporting ye

Vesting dateexercisable 12/11/201816/03/2018 12/11/2020 12/11/202012/11/201816/03/201812/11/201816/03/201821/03/2019

annual sala

contributionncentive pay

ployment agrrminate his ey the group munds. Other ntellectual prfter his emplo

nnual salary

contributionncentive pay

nate his empoup making aal summary dinformation as activities a

emoval for m

nsation durin

une 2017 ovars are as fo

e and date Expi

12/116/0 12/1 12/112/116/012/116/021/0

ry of $170,46

s; yment schem

eement by gemployment amaking paym

than in relatroperty, Oliveoyment with

of $160,000

s; yment schem

ployment agra payment indismissal groand intellectu

after his empl

misconduct.

ng the year e

er ordinary sollows:

ry date

1/2018 3/2018

1/2020

1/2020 1/2018 3/2018 1/2018 3/2018 3/2019

67 (excluding

me; and

giving three wagreement b

ment in lieu ofion to the proer is not subjthe group ce

(excluding s

me; and

reement by g lieu of part o

ounds. Otherual property, loyment with

ended 30 Jun

shares affect

Exercise $ $

$

$ $ $ $ $ $

g superannu

weeks’ noticeby giving thref part or all ootection of ject to any oteases.

superannuati

giving three mor all of the nr than in relatPaul is not s

h the group c

ne 2017.

ting remuner

Fair per o

price at gra

$0.20 $$0.30 $

$0.25 $

$0.25 $$0.20 $$0.30 $$0.20 $$0.30 $$0.25 $

uation)

e in ee f the

ther

ion) and

months' notice tion to subject eases.

ration of

value option

ant date

$0.0650 $0.0002

$0.0470

$0.0200 $0.0650 $0.0002 $0.0650 $0.0002 $0.0145

For

per

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TopBDirect30 Ju

Todd above Option Valuecompe Name NichoTodd Todd MatthSimonPaul J Therethe ye Addit ShareThe ngroup OrdinTodd MatthSimonPaul JOliver OptionThe nmemb OptioTodd NichoMatthSimonPaul JOliver * C** O


Buckinghame. No other h

ns granted c

s of optionsensation dur

e

olas Chan BuckinghamBuckingham

hew Cain n Dulhunty Jeronimo

e were no opear ended 30

tional disclo

eholding number of sh, including th

nary shares Buckingham

hew Cain n Dulhunty Jeronimo r Shanahan

n holding number of opbers of KMP

ns over ordinBuckingham

olas Chan hew Cain n Dulhunty Jeronimo r Shanahan *

Conditions dOptions were

gs Limited

m has performolders have

arry no divid

s over ordinring the year

m - Tranche 1m - Tranche 2

ptions over o0 June 2017.

osures relati

hares in the heir personal

m

ptions over of the group

nary shares m *

**

etailed in 'See granted aft

mance conditperformance

end or voting

nary shares ended 30 Ju

1 2

rdinary share

ing to KMP

company helly related pa

ordinary shap, including th

ervice agreemer the period

tions attachee conditions

g rights.

granted anune 2017 are

es vested or

eld during thearties, is set o

Balathe s

the

4,8227

3,09,2

ares in the cheir personal

Balathe s

the

16,62,01,51,5

21,6

ments' sectiod ended 30 J

14

ed to his optiattached to t

nd exercisede set out belo

r lapsed by d

e financial yout below:

ance at Rstart of a

e year rem

870,862 295,000 296,438 709,151 044,532 215,983

company helly related pa

ance at start of

e year

667,000 000,000 500,000 500,000

--

667,000

on above. June 2017.

ons. These atheir options

d attributableow:

directors and

year by each

Received as part of muneration

------

ld during thearties, is set o

Granted

-1,500,000 1,500,000 1,500,000 2,000,000 1,954,681 8,454,681

are detailed .

e to directo

Value ofoptionsgranted

during theyear

$

30

3030

29,00

d other KMP

director and

Additions

20,00123,00211,9620,00

374,96

e financial yout below:

Exercised

in 'Service a

ors and othe

Value option exercis

e during t year $

00 - -

00 00 00

as part of c

d other mem

Disposa othe

-

00 00 64 00 (16264 (162

year by each

Expire forfeite

othe

- - - - - - -

agreements'

er KMP as

of Valns optsed grathe durinr ye

- 1- 4- 1---

compensation

mbers of KMP

Balaals/ the er the

- 4,8- 3- 4- 9

,500) 2,9,500) 9,4

h director an

ed/ Balaed/ the er the

- 16,6- 3,5- 3,0- 3,0- 2,0- 1,9- 30,1

section

part of

ue of tions

anted ng prior ear $

130,000 470,000 133,340 97,500 97,500

-

n during

P of the

ance at end of year

870,862 315,000 419,438 921,115 902,032 428,447

nd other

ance at end of year

667,000 500,000 000,000 000,000 000,000 954,681 121,681

For

per

sona

l use

onl

y

TopBDirect30 Ju

This c ShareUniss Grant 12 No12 No28 Ju30 No30 No16 Ma14 Ju3 July 11,00 1,000 No pethe co ShareThereJune 2 IndemThe cor exe Duringcompadisclo IndemThe ccompa Duringor any ProceNo pebehalfrespo Non-aDetailare ou The dpersothe Co


concludes t

es under optued ordinary

t date

ovember 201ovember 201ly 2016

ovember 201ovember 201arch 2017 ne 2017

y 2017

0,000 option

,000 options

erson entitledompany or of

es issued one were no ord2017 and up

mnity and inompany has

ecutive, for w

g the financiaany against sure of the n

mnity and incompany hasany or any re

g the financiay related enti

eedings on berson has apf of the comnsibility on b

audit services of the amoutlined in not

directors are n or firm on orporations A

gs Limited

the remuner

tion y shares of T

5 5

6 6

ns over ordina

over ordina

d to exercisef any other b

n the exercisdinary share

p to the date

surance of indemnified

which they ma

al year, the ca liability to

nature of the

surance of s not, during elated entity

al year, the city.

behalf of thepplied to the

mpany, or to behalf of the c

es ounts paid orte 23 to the f

satisfied thathe auditor's

Act 2001.

ration report

TopBetta Hold

ary shares a

ry shares are

e the optionsody corporat

se of optiones of TopBetof this report

officers the directorsay be held p

company paio the extentliability and

auditor or since theagainst a lia

company has

e company e Court unde

intervene incompany for

r payable to tinancial state

at the provisis behalf), is

t, which has

dings Limited

Expiry d 12 Nove 12 Nove 21 Marc 30 Nove 30 Nove 16 Marc 14 June 31 Octo

are held by ex

e held by non

s had or haste.

ns tta Holdings t.

s and executersonally liab

d a premium permitted bthe amount o

e end of the ability incurre

s not paid a p

er section 23n any procer all or part of

the auditor foements.

ion of non-acompatible

15

s been audit

d under optio

date

ember 2018ember 2020ch 2019 ember 2019ember 2019ch 2018 e 2020 ober 2020

xternal partie

n-KMP empl

any right by

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tives of the cble, except w

m in respect oby the Corpoof the premiu

financial yead by the aud

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37 of the Coedings to wf those proce

or non-audit

udit serviceswith the gen

ted.

on at the date

es to the gro

oyees.

y virtue of th

ued on the ex

company for where there i

of a contract orations Actum.

ar, indemnifieditor.

respect of a c

orporations Awhich the comeedings.

services pro

s during the neral standar

e of this repo

up.

he option to p

xercise of op

costs incurres a lack of g

to insure thet 2001. The

ed or agreed

contract to in

Act 2001 formpany is a

vided during

financial yeard of indepe

ort are as fol

Exerci price $ $ $ $ $ $ $ $

participate in

ptions during

ed, in their caood faith.

e directors acontract of

d to indemni

nsure the aud

r leave to brparty for the

g the financia

ar, by the aundence for a

lows:

se Nume under

$0.20 10,0$0.25 16,6$0.25 2,0$0.30 1,0$0.25 3,0$0.30 4,5$0.20 2,0$0.30 2,9

42,1

n any share

g the year en

apacity as a

nd executiveinsurance p

fy the audito

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ring proceede purpose o

al year by the

uditor (or by auditors impo

mber r option

000,000 667,000 000,000 000,000 000,000 500,000 000,000 954,681

121,681

issue of

nded 30

director

es of the prohibits

or of the

ompany

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e auditor

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TopBDirect30 Ju

The dextern● a

o● n

ora

OfficeThere AuditA copimmed AuditPKF(N2001. This r2001. On be _____NichoChair 15 AuSydne


irectors are onal auditor's all non-audit of the auditornone of the sof Ethics for reviewing or acting as adv

ers of the coe are no office

tor's indepepy of the auddiately after t

tor NS) Audit & A

report is ma

ehalf of the d

__________olas Chan rman

ugust 2017 ey

gs Limited

of the opinioindependencservices havr; and services undProfessionaauditing the

vocate for the

ompany whoers of the co

ndence decditor's indepethis directors

Assurance L

de in accord

irectors

___________

on that the sece requiremeve been revi

dermine the gl Accountant

e auditor's owe company o

o are formerompany who

claration endence decs' report.

Limited Partn

dance with a

____

ervices as disents of the Cewed and ap

general princts issued by wn work, actor jointly sha

r partners oare former p

claration as r

nership contin

a resolution

16

sclosed in noorporations Approved to e

ciples relatingthe Account

ting in a manring econom

of PKF(NS) Apartners of P

required und

nues in office

of directors,

____ToddDirec

ote 23 to theAct 2001 for nsure that th

g to auditor ting Professinagement or

mic risks and

Audit & AssuKF(NS) Aud

er section 3

e in accorda

, pursuant to

___________d Buckinghamctor

financial stathe following

hey do not im

independencional and Ethr decision-mrewards.

urance Limiit & Assuranc

07C of the C

nce with sec

o section 29

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atements do g reasons:

mpact the inte

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ited Partnerce Limited P

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ction 327 of t

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_____

not comprom

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s Act 2001 is

the Corporat

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mise the

bjectivity

10 Codencluding ompany,

s set out

ions Act

ons Act

For

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Topbetta Holdings Limited

ACN: 164 521 395

Auditor’s Independence Declaration under section 307C of the Corporations Act 2001 In accordance with the requirements of section 307C of the Corporations Act 2001, as lead auditor for the audit of TopBetta Holdings Limited for the year ended 30 June 2017, I declare that, to the best of my knowledge and belief, there have been:

(i) No contraventions of the auditor independence requirements of the Corporations Act 2001 in relation to the audit; and

(ii) No contraventions of any applicable code of professional conduct in relation to the audit.

PKF MARTIN MATTHEWS PARTNER 15 AUGUST 2017 NEWCASTLE, NSW

17

PKF(NS) Audit & Assurance Limited Partnership is a member firm of the PKF International Limited family of legally independent firms and does not accept any responsibility or liability for the actions or inactions of any individual member or correspondent firm or firms.For office locations visit www.pkf.com.au

Sydney

Level 8, 1 O’Connell StreetSydney NSW 2000 Australia GPO Box 5446 Sydney NSW 2001

p +61 2 8346 6000 f +61 2 8346 6099

PKF(NS) Audit & Assurance Limited PartnershipABN 91 850 861 839

Liability limited by a scheme approved under Professional Standards Legislation

Newcastle

755 Hunter Street Newcastle West NSW 2302 Australia PO Box 2368 Dangar NSW 2309

p +61 2 4962 2688 f +61 2 4962 3245

For

per

sona

l use

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TopBStatemFor th

ReveCost o Gross Other ExpeEmploProfeMarkeAdminIT expOccuDepreImpaiShareNon-rOtherFinan Loss Incom Loss TopB Other Total TopB BasicDilute

etta Holdingment of prohe year ende

The above

nue of sales

s profit

r income

nses oyee benefitsssional fees eting expensnistration exppenses pancy expeneciation and rment of goo

e of losses ofrecurring expr expenses nce costs

before inco

me tax benefi

after incomBetta Holding

r comprehen

comprehenBetta Holding

c earnings peed earnings p

gs Limited ofit or loss aed 30 June 2

e statement o

s expense

ses penses

nses amortisation

odwill f associates

penses

ome tax ben

it

me tax benefgs Limited

sive income

nsive incomgs Limited

er share per share

nd other co2017

of profit or los

n expense

accounted fo

nefit

fit for the ye

for the year,

me for the ye

omprehensiv

ss and otheracc

or using the

ear attributa

, net of tax

ar attributab

ve income

r comprehenscompanying

18

equity metho

ble to the ow

ble to the ow

sive income notes

od

wners of

wners of

Note

should be re

5

6 612 6 6

7

32 32

Ce 2017

$

ead in conjun

5,621 (2,838 2,783

1,059

(4,071 (1,533 (2,903 (903 (949 (177 (141 (1,802 (11 (51 (162 (165

(9,030

1,411

(7,618

(7,618

Cents ( (

onsolidated7 20

nction with th

,636 2,88,404) (1,0

3,232 1,8

9,783 6

,277) (2,33,700) (83,054) (2,03,691) (79,046) (37,438) (,293) (,453),932) (,718) (1,5,103) (

5,475) (1

,165) (5,6

,908 1,1

8,257) (4,5

-

8,257) (4,5

s Ce

(6.40)(6.40)

d016$

he

884,923 041,120)

843,803

617,483

322,444)826,914)064,373)763,772)338,155)(83,006)(22,061)

- (10,253)513,064)(90,620)111,481)

684,857)

147,332

537,525)

-

537,525)

ents

(5.64)(5.64)

For

per

sona

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TopBStatemAs at

Asse CurreCash TradePrepaTotal Non-cInvesPropeIntangDeferTotal Total Liabi CurreTradeEmploEarn-DeferTotal Non-cEmploTotal Total Net a EquitIssueReseAccum Total

etta Holdingment of fina30 June 20

The ab

ts

ent assets and cash eq

e and other reayments current asse

current assetments acco

erty, plant angibles rred tax non-current

assets

lities

ent liabilitiese and other poyee benefits-out provisionrred revenuecurrent liabil

current liaboyee benefitsnon-current

liabilities

assets

ty d capital rves mulated loss

equity

gs Limited ancial positi17

bove stateme

quivalents eceivables

ets

ets unted for usi

nd equipment

assets

s payables s n lities

ilities s liabilities

ses

on

ent of financi

ing the equitt

ial position s

y method

should be rea19

ad in conjunc

Note

ction with the

89

10 11 12 13

14 15 28

16

17 18

Ce 2017

$

e accompany

3,267 1,885 148 5,301 425 5,800 3,602 9,828 15,129

3,526 288 2,215 6,030 59 59 6,089

9,039

22,791 1,473 (15,225 9,039

onsolidated7 20

ying notes

7,188 2,45,769 1,28,591 ,548 3,7

- 25,920 20,073 4,22,051 2,18,044 6,9

9,592 10,6

6,350 2,08,416 25,480

200 0,446 2,3

9,478 9,478

9,924 2,3

9,668 8,3

,244 14,63,958 1,2,534) (7,6

9,668 8,3

d016$

435,693 229,370 59,005

724,068

239,747 271,330 275,527 178,618 965,222

689,290

065,557 219,795

- 18,045

303,397

43,163 43,163

346,560

342,730

696,667 253,340 607,277)

342,730

For

per

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TopBStatemFor th

Cons Balan Loss Other Total TransContrShare Balan Cons Balan Loss Other Total TransContrShare Balan

etta Holdingment of chahe year ende

The ab

solidated

nce at 1 July

after incomer comprehen

comprehens

sactions withributions of ee-based paym

nce at 30 Jun

solidated

nce at 1 July

after incomer comprehen

comprehens

sactions withributions of ee-based paym

nce at 30 Jun

gs Limited anges in equed 30 June 2

bove stateme

2015

e tax benefit fsive income

sive income f

owners in thequity, net of ments (note

ne 2016

2016

e tax benefit fsive income

sive income f

owners in thequity, net of ments (note

ne 2017

uity 2017

ent of change

for the year for the year,

for the year

heir capacity transaction c33)

for the year for the year,

for the year

heir capacity transaction c33)

es in equity s

, net of tax

y as owners:costs (note 1

, net of tax

y as owners:costs (note 1

should be rea20

17)

1

1

17)

2

ad in conjunc

Issuedcapital

$

8,059,683

--

-

6,636,984 -

14,696,667

Issuedcapital

$

14,696,667

--

-

8,094,577 -

22,791,244

ction with the

Reserves$

1,253,34

1,253,34

Reserves$

1,253,34

220,61

1,473,95

e accompany

Accumus losse

$

- (3,069

- (4,537-

- (4,537

- 40

40 (7,607

Accumus losse

$

40 (7,607

- (7,618-

- (7,618

- 18

58 (15,225

ying notes

latedTotales

9,752) 4,9

7,525) (4,5-

7,525) (4,5

- 6,6- 1,2

7,277) 8,3

latedTotales

7,277) 8,3

8,257) (7,6-

8,257) (7,6

- 8,0- 2

5,534) 9,0

equity$

989,931

537,525)-

537,525)

636,984 253,340

342,730

equity$

342,730

618,257)-

618,257)

094,577 220,618

039,668

For

per

sona

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TopBStatemFor th

CashRecePaymIntereIntereResea Net ca CashPaymPaymPaymPaym Net ca CashProceNet (rShare Net ca Net inCash Cash

etta Holdingment of cashe year ende

The

flows fromipts from cus

ments to suppest received est and otherarch and dev

ash used in o

flows fromment for purchments for invements for propments for inta

ash used in

flows fromeeds from issrepayment ofe issue trans

ash from fina

ncrease in caand cash eq

and cash eq

gs Limited sh flows ed 30 June 2

e above state

operating astomers - netpliers and em

r finance cosvelopment ta

operating ac

investing ahase of businestments perty, plant angibles

investing act

financing asue of sharesf)/proceeds faction costs

ancing activit

ash and cashquivalents at

quivalents at

2017

ement of cas

activities t

mployees

ts paid ax received

ctivities

activities ness, net of c

and equipme

tivities

activities s from borrowi

ties

h equivalentsthe beginnin

the end of th

sh flows shou

cash acquire

ent

ngs

s ng of the fina

he financial y

uld be read i21

ed

ancial year

year

in conjunction

Note

n with the ac

30

28

8

Ce 2017

$

ccompanying

7,501 (14,216 28 (5 560 (6,132

(100 (50 (262 (200 (612

7,716 (139 7,576

831 2,435 3,267

onsolidated7 20

g notes

,000 3,6,548) (7,3

8,505 ,982) (

0,708 4

,317) (3,3

,000),000) (1,566) (2,000)

,566) (3

6,003 7,2- (4

9,625) (1,1

6,378 5,6

,495 2,05,693 4

7,188 2,4

d016$

613,010 364,617)

45,092 (32,766)415,595

323,686)

- 100,000)272,563)

-

372,563)

258,694 458,369)100,770)

699,555

003,306 432,387

435,693

For

per

sona

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TopBNotes30 Ju

Note The f'compstatemLimite TopBeregiste 22 LaBroad A desnot pa The fidirecto Note 2 The pnotes New oThe gAccouAccouthe gr Any n GoingThe Gequivacontinactivitgoing capita The Dfrom t BasisTheseInterpapproStand HistorThe fiassets CriticaThe pmanahigherstatem

etta Holdings to the finanne 2017

1. General i

financial statpany' or 'parements as theed's functiona

etta Holdingered office a

ambton Roaddmeadow, N

scription of thart of the fina

nancial stateors have the

2. Significan

principal accoor below. Th

or amendedgroup has adunting Standunting Standroup during th

ew or amend

g concern Group has realents totallinnuing operatties of $6,13

concern anal and the bus

Directors are the date of th

s of preparate general puretations isspriate for fo

dards as issu

rical cost connancial states at fair value

al accountingpreparation ogement to er degree of ments, are di

gs Limited ncial statem

nformation

tements covent entity') ae 'group'). Tal and presen

s Limited isand principal

d SW 2292

he nature of tancial statem

ements were power to am

nt accountin

ounting polichese policies

d Accountingdopted all ofdards Boardards and Inthe financial y

ded Account

ecorded a nng $3,267,18ions after ta

32,317 (2016d meet its ssiness contin

satisfied thahis report, an

tion rpose financsued by ther-profit oriened by the Int

nvention ements havee through pro

g estimates of the financ

exercise its jujudgement sclosed in no

ments

ver TopBettaand the entitiThe financiantation curre

s a listed puplace of bus

the group's oments.

e authorised mend and rei

ng policies

cies adopted s have been

g Standardsf the new o

d ('AASB') tterpretationsyear.

ting Standard

net current a88 (2016: $2ax of $7,6186: $3,323,686strategic objenuing to grow

at adequate cnd on that ba

cial statemene Australian nted entities.ternational A

e been prepaofit or loss.

cial statemeudgement inor complexitote 3.

a Holdings Lies it controll statements

ency.

ublic compasiness is:

operations an

for issue, inssue the fina

in the prepaconsistently

s and Interpr amended Ahat are ma did not hav

ds or Interpre

asset deficit 2,435,693) as8,257 (20166) for the yeectives in thw as it did in

cash will be asis are satisf

nts have beeAccounting

These finanAccounting St

ared under t

ents requires the processty, or areas

22

Limited as alled at the es are presen

ny limited b

nd its princip

n accordanceancial statem

aration of theapplied to a

retations adAccounting ndatory for

ve any signif

etations that

of $728,898s at 30 June: $4,537,525

ear ended 30e mid to lonthe final qua

available to mfied that the

n prepared ig Standards ncial statemtandards Bo

he historical

s the use ofs of applying where assu

a group connd of, or dunted in Aust

by shares, in

pal activities

e with a resoments.

e financial stall the years p

doptedStandards athe current

ficant impact

are not yet m

8 (2016: sure 2017. The 5), and expe0 June 2017ng term is prarter of financ

meet all obliggoing conce

n accordancBoard ('AA

ents also coard ('IASB').

cost conven

f certain critg the group'sumptions an

nsisting of Tring, the yeatralian dollar

ncorporated

are included

olution of dire

atements arepresented, un

and Interprett reporting pt on the fina

mandatory h

rplus $1,420consolidatederienced ne7. The abilityrincipally decial year end

gations for a ern basis of p

ce with AustrASB') and tomply with In

ntion, except

tical accouns accountingnd estimates

TopBetta Hoar (referred rs, which is

and domici

d in the direct

ectors, on 15

e set out eithnless otherw

tations issueperiod. The ncial perform

ave not been

,671), includd entity recort cash outfloy of the Gropendent upo

ded 30 June

period of at preparation is

ralian Accounhe Corporatnternational

t for, where

ting estimatg policies. Ths are signific

oldings Limitto in these fTopBetta H

led in Austr

tors' report, w

5 August 20

her in the reswise stated.

ed by the Auadoption o

mance or po

n early adopt

ding cash anrded a net loows from opup to continon raising ad2017.

least twelve s appropriate

nting Standations Act 20Financial Re

applicable, f

tes. It also rhe areas invcant to the f

ted (the financial Holdings

ralia. Its

which is

017. The

spective

ustralian of these sition of

ted.

nd cash oss from perating ue as a dditional

months e.

ards and 001, as eporting

financial

requires olving a financial

For

per

sona

l use

onl

y

TopBNotes30 Ju

Note 2 ParenIn acSuppl PrincThe cas at 3 Subsiexposthrougtransf IntercUnreaAccouby the The awithoutransfattribu Wherecontrorecogor red RevenRevenmeasuwager FantaFantatourna WageWageamoudeterm ConteConteand re CurreAssets An asnormareportfor at A liabprimaunconare cla


2. Significan

nt entity infocordance wementary inf

iples of cononsolidated 30 June 201

diaries are ased to, or hasgh its power erred to the

ompany tranalised lossesunting policiee group.

cquisition of ut the loss oerred and t

utable to the

e the groupolling interesnises the faiuction in pro

nue recogninue is recognured. Revenring, wagerin

sy wagering sy wageringaments are c

ering ering revenuents bet on anmined, at wh

ent services ent services recognised as

ent and non-s and liabiliti

set is classifal operating cting period; oleast 12 mon

bility is classirily for the p

nditional rightassified as n


nt accountin

ormation with the Corformation ab

nsolidation financial sta7 and the re

all those ens rights to, vto direct thegroup. They

nsactions, ba are also elim

es of subsidi

subsidiariesof control, ishe book vaparent.

p loses contt in the subsr value of the

ofit or loss.

ition nised when

nue is measung and conte

g revenue, becompleted.

e is recognisn event are rich time the

revenue is res a liability in

-current clases are prese

fied as currencycle; it is heor the asset nths after the

ified as currepurpose of tt to defer the

non-current.

ments

ng policies (

rporations About the pare

tements incosults of all su

ntities over wvariable reture activities ofare de-cons

alances and minated unlearies have b

s is accountes accounted lue of the s

trol over a ssidiary togete considerat

it is probableured at the fent services.

eing the ent

sed as the rerecognised arevenue is b

ecognised in the stateme

ssification ented in the s

nt when: it iseld primarily is cash or cae reporting pe

ent when: it trading; it is e settlement

(continued)

Act 2001, thnt entity is d

orporate the ubsidiaries fo

which the grrns from its if the entity. S

solidated from

unrealised ess the transbeen change

ed for using tfor as an e

share of the

subsidiary, iher with anytion received

e that the ecfair value of

ry fees to to

esidual valueas a liability inbrought to ac

profit or lossent of financia

statement of

s either expefor the purpo

ash equivaleeriod. All oth

is either expdue to be of the liabilit

23

ese financiaisclosed in n

assets and or the year th

roup has convolvement Subsidiariesm the date th

gains on trasaction provided where nec

he acquisitioequity transae non-contro

it derecogniy cumulative and the fair

onomic benethe consider

ournaments,

e after deducn the stateme

ccount in prof

s once the seal position un

financial pos

cted to be reose of tradingnt unless res

her assets ar

pected to besettled withity for at leas

al statementnote 27.

liabilities of ahen ended.

ontrol. The gwith the ent are fully co

hat control ce

ansactions bedes evidencecessary to e

on method ofaction, whereolling interes

ses the asstranslation d

r value of any

efit will flow tration receiv

is brought to

cting the retuent of financfit or loss.

ervice has bentil the servic

sition based

ealised or integ; it is expecstricted frome classified a

e settled in thn 12 montht 12 months

ts present t

all subsidiari

group controity and has tnsolidated freases.

etween entite of the impa

ensure consis

f accounting.e the differe

st acquired i

sets includindifferences ry investment

to the group ved or receiv

o account as

rn to customcial position u

een renderece is rendere

on current a

ended to be cted to be rea being exchaas non-curre

he group's ns after the after the rep

the results

es of TopBe

ols an entity the ability to rom the date

ies in the grairment of thstency with t

A change inence betweeis recognise

ng goodwill, recognised it retained tog

and the revevable. Reven

s revenue in

mers from theuntil the outco

d. Prepaid sed.

and non-curre

sold or consalised within anged or use

ent.

normal operareporting peporting period

of the grou

etta Holdings

when the gaffect those

e on which co

roup are elimhe asset tranthe policies a

n ownership en the consided directly in

liabilities ann equity. Thgether with a

enue can benue includes

n profit or los

eir paid wageome of the e

ervices are d

ent classifica

sumed in the 12 months a

ed to settle a

ating cycle; iteriod; or therd. All other l

up only.

Limited

group is e returns ontrol is

minated. nsferred. adopted

interest, deration n equity

nd non-e group

any gain

e reliably fantasy

ss when

ers. The events is

deferred

ation.

group's after the a liability

t is held re is no iabilities

For

per

sona

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TopBNotes30 Ju

Note 2 Deferr LeaseThe drequirand th A distrisks aretains Finanthe prlease Leaseusefulterm. Operabasis ImpaiThe ggroupbreaceconobankrdata in The aasset'rate. Ihad th GoodRevenrecoveof the Receirecovefinanc Cash activit Comm New AAustramandassesare se


2. Significan

red tax asset

es determinationres an asseshe arrangem

tinction is maand benefitss substantial

ce leases arresent valueliability and t

ed assets acql life and the

ating lease pover the term

irment of fingroup assess of financial h of contrac

omic or legauptcy or othndicating tha

amount of thes carrying af there is a r

he impairmen

ds and Servinues, expenerable from texpense.

vables and erable from,

cial position.

flows are pties which are

mitments and

Accounting alian Accouatory, have

ssment of theet out below.


nt accountin

ts and liabilit

n of whetherssment of whent conveys

ade betweens incidental tlly all such ri

re capitalisede of minimumthe finance c

quired underlease term i

payments, nem of the leas

nancial asseses at the en

assets is imct such as dal reasons ther financial r

at there is a m

e impairmentmount and treversal of imnt not been m

ces Tax ('GSses and assthe tax autho

payables ar or payable

presented one recoverabl

d contingenc

Standards nting Standnot been ea

e impact of th

ments

ng policies (

ties are alwa

r an arrangehether the ful

a right to us

n finance leao the ownersks and ben

d. A lease asm lease paymcosts, so as t

r a finance leif there is no

et of any incse.

ets nd of each rempaired. Objedefault or dehat the lendreorganisatiomeasurable d

t allowance fthe present vmpairment, tmade and is

ST') and othsets are recoority. In this

re stated incto, the tax a

n a gross be from, or pa

ies are disclo

and Interpreards and In

arly adopted hese new or

(continued)

ays classified

ment is or clfilment of the

se the asset.

ases, which ership of leasefits.

sset and liabments. Leasto achieve a

ease are depo reasonable

centives rece

eporting periective evide

elinquency inder would noon; the disapdecrease in

for loans andvalue of estithe reversal reversed to

her similar tognised net case it is rec

clusive of thauthority is i

asis. The Gayable to the

osed net of t

etations notnterpretationsby the grouamended A

24

d as non-curr

contains a lee arrangeme

effectively traed assets, a

ility are estase payments

constant rat

preciated ovecertainty tha

eived from th

iod whether nce includes

n payments; ot otherwiseppearance ofestimated fu

d receivablesmated futurecannot exceprofit or loss

axesof the amou

cognised as

e amount ofincluded in o

GST compone tax authorit

he amount o

t yet mandats that havep for the ann

Accounting St

rent.

ase is basedent is depend

ansfer from and operatin

ablished at ths are allocatete of interest

er the asset'sat the group

he lessor, are

there is anys significant the lender do; it becof an active mture cash flo

s carried at ae cash flowseed the amors.

unt of assocpart of the c

f GST receiother receiva

nents of casy, are presen

of GST recov

tory or earlye recently bnual reportintandards and

d on the subdent on the u

the lessor tog leases, un

he fair value ed between on the rema

s useful life owill obtain ow

e charged to

y objective evfinancial diffgranting to

omes probabmarket for thows.

amortised co, discountedrtised cost th

ciated GST, cost of the ac

vable or payables or othe

sh flows arisnted as oper

verable from,

y adoptedbeen issued ng period end Interpretati

bstance of thuse of a spe

o the lessee nder which th

of the leasedthe principa

aining balanc

or over the swnership at

o profit or los

vidence that ficulty of the a borrower ble that the he financial a

ost is the diff at the origin

hat would ha

unless the Gcquisition of

yable. The ner payables

sing from invrating cash fl

or payable t

or amendeded 30 Juneions, most re

he arrangemecific asset o

substantiallyhe lessor eff

d assets, or al componence of the liab

shorter of thethe end of th

ss on a stra

a financial aissuer or ob

concessionsborrower w

asset; or obs

ference betwnal effective

ave been rec

GST incurrethe asset or

net amount in the state

vesting or fiows.

to, the tax au

ed but are e 2017. The elevant to the

ment and r assets

y all the fectively

if lower, nt of the ility.

e asset's he lease

ight-line

asset or bligor; a s due to will enter servable

ween the interest

cognised

d is not r as part

of GST ement of

nancing

uthority.

not yet group's

e group,

For

per

sona

l use

onl

y

TopBNotes30 Ju

Note 2 AASBThis sprevioMeasube mecontraare toinitial incomentity'accouthe enImpairsignifinew dstatemreceivof prinat faceas the AASBThis ssinglethe traexpecimplieprice, perforapproCreditobligasatisfiobligashouldstatembetweto enathose adopt most othe pr


2. Significan

B 9 Financial standard is aous versionsurement'. AAeasured at aactual cash fo be classifierecognition t

me ('OCI'). Fos own credi

unting requirentity. New imrment will becantly since

disclosures. Tments on thvables that dncipal, whiche value. Oth

e group does

B 15 Revenuestandard is ae standard foansfer of procts to be entited) to be iden

adjusted formance obligach if no dist risk will beation would bed when the

ations satisfied be recogniment of finaneen the entityable users to

contracts; athis standar

of the grouprimary perfor


nt accountin

Instruments applicable tos of AASB 9ASB 9 introdamortised colows, which

ed and measto present gor financial it risk to be ements are inmpairment re measured u

initial recogThe group w

he basis thao not carry a in the case er financial a

s not carry th

e from Contrapplicable tor revenue reomised goodtled in exchantified, togetor the time gations on astinct observe presented be satisfied we service haed over time,ised as the pncial positioy's performano understandand any assrd from 1 Ju's revenue ismance oblig

ments

ng policies (

o annual repo9 and compuces new cla

ost, if it is hearise on spesured at fair ains and losliabilities, thpresented

ntended to mrequirementsunder a 12-mnition in whi

will adopt thisat the main a significant of trade rece

asset classeem at fair va

racts with Cuo annual repecognition. Thds or serviceange for thosther with the value of mo

a basis of reable prices eseparately

when the cuss been prov, an entity woperformancen as a contnce and the d the contracets recognis

uly 2018. It iss recognisedation.

(continued)

orting periodpletes the passification a

eld within a becified dates

value throusses on equite standard in OCI (unle

more closely s will use anmonth ECL mch case the standard frofinancial as

financing coeivables is ths are not ma

alue.

ustomers porting periodhe core princ

es to customse goods or s

separate peoney excludelative standexist; and reas an expenstomer obtai

vided, typicalould select a

e obligation istract liability,customer's p

cts with custosed from thes not expect

d at the time

25

ds beginningproject to reand measurebusiness moand solely pgh profit or ty instrumenrequires theess it wouldalign the accn 'expected method unleslifetime ECL

om 1 July 20ssets recogn

omponent anhe transactioaterial to the

ds beginningciple of the s

mers in an amservices. Theerformance oing credit ris-alone sellin

ecognition of nse rather tins control olly for promisan appropriats satisfied. C, a contract payment. Suomers; the s

e costs to obted to signifiof transactio

g on or after place IAS 3ement modeldel whose orincipal and loss unless

nts (that are portion of t create an counting treacredit loss'

ss the credit L method is a018. It is not nised represd involve a s

on price. Bothgroup. Fina

g on or afterstandard is thmount that ree standard wobligations wsk; allocatio

ng price of erevenue whhan adjuste

of the goods.ses to transte measure o

Contracts witasset, or a

ufficient quansignificant judbtain or fulfil cantly impac

on with the c

1 January 239 'Financials for financi

objective is tointerest. All othe entity mnot held-for-the change accounting

atment with t('ECL') modrisk on a fin

adopted. Theexpected to sent cash asingle cash fh asset classncial liabilitie

r 1 January hat an entity eflects the c

will require: cowithin the conon of the traeach distincthen each perd to revenu. For servicefer services of progress tth customers

a receivable,ntitative and qdgements ma contract w

ct the financustomer whi

2018. The stl Instrumental assets. A o hold assetother financiakes an irretrading) in oin fair valuemismatch). he risk manadel to recog

nancial instrue standard insignificantly

and cash eqflow represeses will conties of the gro

2018. The swill recognis

considerationontracts (eithntract; determansaction prt good or serformance obe. For good

es, the perforto customer

to determines will be pres depending qualitative d

made in applywith a custoial statemench represent

tandard replts: Recognitfinancial ass

ts in order toal instrumen

evocable elecother compree that relatesNew simpleagement actignise an alloument has inntroduces adimpact the f

quivalent annting the repnue to be meup are not im

standard prose revenue tn to which thher written, vmine the tranice to the s

ervice, or esbligation is sds, the performance obligrs. For perfo

e how much rsented in anon the rela

isclosure is rying the guidmer. The gr

nts on the bats the satisfa

aces all ion and set shall o collect nt assets ction on

ehensive s to the r hedge ivities of owance. creased dditional financial

nd trade payment easured mpacted

ovides a o depict

he entity verbal or nsaction separate timation

satisfied. ormance gation is ormance revenue

n entity's ationship required dance to roup will asis that action of

For

per

sona

l use

onl

y

TopBNotes30 Ju

Note 2 AASBThis s117 ‘La ‘righunavomonthaccouor losprepadismaleasedcosts)compaAmortor losboth athe stJuly 2no len Note 3 The paffect relatioand amanaseldoma matfinanc ShareThe ginstrumScholthe inswouldimpac GoodwThe ghas sgenerassumfuture IncomThe gdetermcourseaudit differewhich RecovDeferrproba


2. Significan

B 16 Leases standard is aLeases’ and fht-of-use’ asoidable futurehs or less aunting policy ss as incurryments, leas

antling costsd asset (incl). In the earared to leastisation) resus under AAS

a principal (fitandard does2019 but the nding impact

3. Critical ac

preparation othe reported

on to assetsassumptionsgement beliem equal the terial adjustmcial year are

e-based paymgroup measuments at thees model, destruments w have no im

ct profit or los

will group tests asuffered anyrating units mptions, inclu cash flows.

me tax group is submining the pe of businesissues base

ent from the such determ

very of deferred tax asseble that futur


nt accountin

applicable to for lessees wsset will be e lease payand leases choice existsred. A liabilse incentives. Straight-linuded in opelier periods se expensesults will be imSB 16. For cnancing activs not substaimpact of itsor covenant

ccounting ju

of the financd amounts in, liabilities, c

s on historiceves to be rerelated actuament to the discussed be

ment transacures the cose date at whepending onere granted.

mpact on thess and equity

annually, or my impairmenthave been uding estima

bject to incoprovision for s for which td on the grocarrying am

mination is m

rred tax asseets are recogre taxable am

ments

ng policies (

annual repowill eliminate capitalised

yments to beof low-values whereby eility correspos received, ie operating

erating costsof the leases under AASmproved as tclassificationvities) and inntially chang

s adoption hat impact expe

udgements,

ial statemen the financia

contingent liacal experieneasonable unal results. Thcarrying am

elow.

ctions t of equity-shich they aren the equity-s The accoun

e carrying amy.

more frequent, in accorddetermined

ated discoun

ome taxes iincome tax.

the ultimate toup's current

mounts, suchmade. Refer to

ets gnised for tamounts will b

(continued)

rting periodsthe classificin the state

e made overe assets (suither a ‘right-onding to thnitial direct clease expen) and an int

e, the expensSB 117. Hothe operating

n within the snterest (eithege how a lesas been asseected to occu

, estimates a

nts requires mal statementsabilities, revence and onnder the cirche judgemenmounts of as

settled transae granted. Tsettled transanting estimatmounts of as

ntly if eventsdance with t

based on nt rates base

n the jurisd There are tax determint understand differences o Note 7 for

ax losses anbe available t

26

s beginning ocations of opement of finar the lease tuch as pers-of-use’ assehe capitalisecosts incurrense recogniterest expensses associatowever EBITg expense isstatement of

er operating ossor accountessed to onlyur.

and assump

managemens. Managemeenue and ex other vario

cumstances. nts, estimatesssets and li

actions with The fair valuaction, and tes and assussets and lia

s or changesthe stated avalue-in-use

ed on the cu

dictions in wmany transa

nation is unceding of the ta

will impact further detai

nd deductibleto utilise thos

on or after 1 erating leaseancial positioterm. The esonal compuet is recognised lease wied and an estion will be rse on the reted with the TDA (Earnins replaced byf cash flowsor financing ats for leasesy impact clas

ptions

t to make juent continualxpenses. Maous factors,The resultin

s and assumabilities (refe

employees e is determitakes into acmptions rela

abilities withi

in circumstaaccounting pe calculationurrent cost o

which it operactions and ertain. The gax law. Whethe current ls.

e temporary se temporary

January 201es and financon, measurexceptions reuters and smsed or lease ll also be rstimate of anreplaced witecognised le

lease undegs Before Iy interest ex, the lease pactivities) cos. The groupssification of

udgements, ely evaluates

anagement b, including ng accountingmptions that her to the re

by referenceined by usinccount the teating to equitn the next a

ances indicapolicy. The ns. These cof capital and

rates. Signifcalculations

group recognre the final tand deferred

differences y differences

19. The standce leases. Sued as the pelate to shormall office fpayments arrecognised, ny future resh a depreciaase liability r AASB 16 wnterest, Tax

xpense and dpayments wimponent. Fo

p will adopt tassets, liabi

estimates anits judgeme

bases its judexpectationsg judgementhave a signifspective not

e to the fair ng either theerms and coy-settled sha

annual repor

ate impairmerecoverable

calculations d growth rat

ficant judgemundertaken

nises liabilitietax outcomed tax provisi

only if the g and losses.

dard replaceubject to excresent valuert-term leasefurniture) whre expensed

adjusted fostoration, remation charge(included in will be highex, Depreciatdepreciation ill be separaor lessor accthis standardilities and ex

nd assumptionts and estim

dgements, ess of future ts and estimaficant risk of tes) within t

value of thee Binomial onditions upoare-based parting period b

nt, whether g amounts orequire the

tes of the es

ment is reqduring the o

es for anticipae of these maons in the p

group consid

es AASB ceptions, e of the es of 12 here an to profit

or lease moval or e for the

finance er when ion and in profit

ated into ounting,

d from 1 xpenses,

ons that mates in stimates events,

ates will causing

the next

e equity r Black-

on which ayments but may

goodwill of cash-

use of stimated

uired in ordinary ated tax atters is

period in

ders it is

For

per

sona

l use

onl

y

TopBNotes30 Ju

Note 4 IdentifThe gwagerare idalloca The instatem TypesThe pRetaiwage

Conte

Whole

Major There Opera

Cons ReveSalesIntersTotal SegmDepreReseaIntereFinanShareShareImpaiLoss IncomLoss AsseSegmTotal LiabiSegmTotal


4. Operating

fication of repgroup operatring and corpdentified as ation of resou

nformation rements are the

s of productsrincipal prodl wagering aring

ent services

esale wageri

r customers e are no majo

ating segmen

solidated - 2

nue s to external csegment sale

revenue

ment resultseciation and arch and dev

est revenue nce costs e options expe of losses ofrment of goobefore inco

me tax benefiafter incom

ts ment assets

assets

lities ment liabilities

liabilities


g segments

portable opetes in four sporate. This the Chief O

urces. There

eported to the same as th

s and serviceducts and sernd fantasy

ing

or customers

nt information

017

customers es

amortisationvelopment ta

penses f associates odwill ome tax benit

me tax benef

s

ments

erating segmsegments beis based on

Operating Dis no aggreg

e CODM is ohat presented

es rvices of eac The group across risk facing platfgroup's genother via fa

The group seamlessly

The group wagering liqbreed tote saddition to

s that represe

n

n ax rebate

nefit

fit

ents eing the fan

n the internalecision Mak

gation of ope

on at least a d to the COD

ch of these opoperates an managemen

forms. The oneral online wantasy wageroperates a fr

y access a raoperates a wquidity from system withoracing produ

ented more t

Rwag

and wag

4,2

4,2

(3,4

7,6

5,

27

ntasy wageri reports that

kers ('CODMerating segm

monthly basDM.

perating segonline wage

nt systems, online fantasywagering plaring on real sree and prem

ange of sportwholesale B2bookmakersout restrictionucts, The Glo

than 10% of

Retail gering fantasygering $

240,558 -

240,558

429,959)

662,636

124,569

ng and gent are reviewe

M')) in assesents.

sis. The finan

ments are asering platformodds managey wagering toatforms and esports eventsmium contentting and racin2B product Ts and licensens on size ofobal Tote can

the total seg

Content services

$

534,249 -

534,249

(3,580)

9,797

29,786

eral wagerined and usedssing perfor

ncial informa

s follows: m which utilisement, conteournaments penable sportss, with the fot platform, wng content. he Global Tod in Aldernef events and n operate on

ment revenu

Wholesalewagering

$

846,82846,82

831,65

1,005,59

34,41

ng, content d by the Boamance and

ation present

ses proprietaent delivery aplatform is ins fans to comcus on the s

which enables

ote. The Globy, UK. The Gentrants me major sport

ue.

e Corpor $

-

29 29

58 (5,299

98 6,451

0 901

services, whrd of Directoin determin

ted in these f

ry technologand consumentegrated intompete againsocial engages customers

bal Tote comGlobal Tote iseaning that ining events.

ate To

- 4,7- 8- 5,6

9,741) (7,9(1

1,0

(1((

(1,8(9,01,4

(7,6

,561 15,115,1

,159 6,06,0

holesale ors (who ning the

financial

y er o the st each ement. to

mbines s a new

n

otal $

774,807 846,829 621,636

901,622)141,293)031,277 13,051

165,475)(51,718)(11,932)802,453)030,165)411,908 618,257)

129,592 129,592

089,924 089,924

For

per

sona

l use

onl

y

TopBNotes30 Ju

Note 4

Cons ReveSalesTotal SegmDepreReseaIntereFinanNon-rShareLoss IncomLoss AsseSegmTotal LiabiSegmTotal AccouOperabasis segme Note ReseaPayroIntere Other * Resoriginacompa Accou ReseaResea


4. Operating

solidated - 2

nue s to external c

revenue

ment resultseciation and arch and dev

est revenue nce costs recurring expe of losses ofbefore inco

me tax benefiafter incom

ts ment assets

assets

lities ment liabilities

liabilities

unting policy ating segmenas the internents and ass

5. Other inc

arch and devoll tax rebateest received

r income

search and dally recognisany has sinc

unting policy

arch and devarch and dev


g segments

016

customers

amortisationvelopment ta

penses f associates

ome tax benit

me tax benef

s

for operatingnts are presnal reports psessing their

come

velopment ta

developmentsed to reflecce received a

for other inc

velopment tavelopment ta

ments

(continued

n ax rebate

nefit

fit

g segments sented using provided to th

performance

ax rebate *

t tax rebate ct R&D rebaadvice that it

come

ax rebate ax rebate is re

)

Rwag

and wag

1,81,8

(1,4

3,3

3,9

the 'managhe CODM. Te.

income inclate receipts remains ent

ecognised at

28

Retail gering fantasygering $

897,273 897,273

429,770)

350,602

937,701

gement approThe CODM is

ludes an amfor which thitled to those

t fair value, b

Content services

$

987,650 987,650

(79,564)

1,894,075

77,037

oach', wheres responsible

mount of $22he company e proceeds.

being the exp

Wholesalewagering

$

e the informae for the allo

25,000 reprebelieved it

pected amou

e Corpor $

- -

- (3,124

- 5,444

- (1,668

ation presenocation of res

C 2017 $ 1,031 15 13 1,059

esenting a rewas no lon

unt to be rece

ate To

- 2,8- 2,8

4,329) (4,6(5

(1(1,5

((5,61,1

(4,5

4,613 10,610,6

8,178) 2,32,3

nted is on thsources to op

onsolidated7 20

,277 55,455 3,051

9,783 6

eversal of ager entitled

eived.

otal $

884,923 884,923

633,663)(22,061)560,573 45,092

111,481)513,064)(10,253)684,857)147,332 537,525)

689,290 689,290

346,560 346,560

he same perating

d016$

560,573 11,818 45,092

617,483

a liability to. The F

or p

erso

nal u

se o

nly

TopBNotes30 Ju

Note IntereIntereamortrate, wto the Other Other Note Loss DepreLeasePlant CompFurnit Total AmorLicen Total EmploEmploDefine Total FinanIntere RentaMinim Non-rIPO trShare Total AccouFinanthe pe AccouContriincurre


5. Other inc

st st revenue istised cost of which is the net carrying

r income income is re

6. Expenses

before incom

eciation ehold improvand equipm

puter equipmture and fittin

depreciation

rtisation ce

depreciation

oyee benefitsoyee benefitsed contributi

employee be

nce costs est and financ

al expense remum lease pa

recurring expransaction coe-based paym

non-recurrin

unting for finace costs attreriod in which

unting for defibutions to ded.


come (contin

s recogniseda financial arate that exa

g amount of t

ecognised wh

s

me tax includ

vements ent

ment ngs

n

n and amortis

ts s expense exon superann

enefits

ce charges p

elating to opeayments

penses osts ments expen

ng expenses

ance costs ributable to qh they are in

fined contribdefined contr

ments

nued)

d as interest asset and alactly discounhe financial a

hen it is rece

des the follow

sation

xcluding supnuation expe

paid/payable

erating lease

nse

qualifying asscurred.

ution superaribution supe

accrues usilocating the

nts estimatedasset.

eived or when

wing specific

perannuationnse

e

es

sets are cap

annuation payerannuation

29

ng the effecinterest inco

d future cash

n the right to

expenses:

pitalised as p

yments plans are ex

ctive interest ome over theh receipts thr

o receive pay

part of the as

xpensed to p

method. Thie relevant perough the ex

yment is esta

sset. All othe

profit or loss

is is a methoeriod using txpected life o

ablished.

C 2017 $ 24 74 24 124 16 141 3,752 318 4,071 165 144 51 51

er finance co

in the perio

od of calculathe effective of the financi

onsolidated7 20

4,377 722

4,820 4,535

4,454

6,839

,293

2,378 2,18,899 1

,277 2,3

5,475 1

4,730

- 2,718 1,2

,718 1,5

osts are expe

od in which t

ating the interest al asset

d016$

3,448 1,500

12,988 4,125

22,061

-

22,061

137,280 185,164

322,444

111,481

66,685

259,724 253,340

513,064

ensed in

they are

For

per

sona

l use

onl

y

TopBNotes30 Ju

Note IncomCurreDefer Aggre DeferIncrea NumeLoss Tax a Tax e

ImShReSuSu

AdjusEffect Incom AmouDefer AccouIncomeach adjust


7. Income ta

me tax benefient tax rred tax - orig

egate income

rred tax incluase in deferr

erical reconcbefore incom

at the statuto

effect amountmpairment of hare-based pesearch and uperannuatioundry items

stment to deft of temporar

me tax benefi

unts creditedrred tax asse

unting policy me tax for the

jurisdiction, tment recogn


ax benefit

fit

gination and

e tax benefit

uded in incomred tax asset

ciliation of incme tax benef

ry tax rate of

ts which are goodwill

payments developmen

on surcharge

ferred tax bary difference

it

d directly to eets (note 13)

for income te period is thadjusted by

nised for prio

ments

reversal of te

me tax benefts (note 13)

come tax benfit

f 27.5% (201

not deductib

nt tax incentive

lances as a s now recog

equity

tax he tax payab changes in

or periods, w

emporary dif

it comprises:

nefit and tax

6: 30%)

ble/(taxable)

ve expenditu

result of chanised

ble on that p deferred tahere applica

30

fferences

:

at the statuto

in calculating

ure

nge in statut

period's taxaax attributablble.

ory rate

g taxable inc

tory tax rate

ble income be to tempor

come:

based on therary differenc

C 2017 $ (13 (1,398 (1,411 (1,398 (9,030 (2,483 495 14 346 (2 (1,629 181 36 (1,411

C 2017 $ (25

e applicable ces, unused

onsolidated7 20

,750)8,158) (1,1

,908) (1,1

8,158) (1,1

,165) (5,6

3,295) (1,7

5,675 4,235 36,624 2

- ,945)

9,706) (1,0,551

6,247 (

,908) (1,1

onsolidated7 20

,275) (3

income tax tax losses

d016$

- 147,332)

147,332)

147,332)

684,857)

705,457)

- 376,002 205,543 41,562 10,469

071,881)-

(75,451)

147,332)

d016$

330,231)

rate for and the

For

per

sona

l use

onl

y

TopBNotes30 Ju

Note AccouDeferrassetsrecogtransawith inthat th Deferrfuturerecogreducrecovetaxabl Deferrsame Tax coTopBeconsotheir oapprorecog Assetsentitieor bedistrib Note Cash Cash Cash Restr Restriavaila AccouCash liquid which


7. Income ta

unting policy red tax asses are recovenition of goo

action, affectnterests in suhe temporary

red tax asse taxable amnised and ued to the extered. Previoule profits ava

red tax assetaxable auth

onsolidated getta Holdingolidated grouown current priate amounises the tax

s or liabilitieses in the tax nefit of each

bution by the

8. Current a

on hand at bank on deposit

ricted cash

icted cash reable for use b

unting policy and cash eqinvestments are subject


ax benefit (c

for deferred ets and liabilered or liabilodwill or an ats neither theubsidiaries, ay difference w

ets are recogmounts will nrecognisedtent that it isusly unrecogailable to reco

ets and liabilihority on eith

group s Limited (thp ('tax groupand deferred

unt of taxes x arising from

s arising undgroup. The th tax group subsidiaries

assets - cash

epresents aby the group.

for cash andquivalents in with originato an insigni

ments

continued)

tax ities are recities are sett

asset or liabile accountingassociates orwill not rever

gnised for debe available deferred tax

s no longer pgnised deferrover the ass

ities are offser the same

he 'head enp') under thed tax amounto allocate

m unused tax

der tax fundtax funding a

member, res to the head

h and cash

mounts held. The corresp

d cash equivcludes cash l maturities oficant risk of

cognised for tled, except lity in a transg nor taxabler joint venturrse in the fore

eductible teme to utilise tx assets are

probable thatred tax assetet.

set only whertaxable entit

tity') and itse tax consolidts. The tax gto group m

x losses and

ing agreemearrangement esulting in n entity.

equivalents

d on behalf ponding liabi

valents on hand, de

of three montf changes in

31

temporary dfor (i) when

saction that ise profits; or (res, and the teseeable fut

mporary diffethose tempoe reviewed et future taxabts are recogn

re there is a ty or differen

wholly-owndation regimgroup has apembers. In tax credits a

ents are recoensures tha

neither a co

s

of players fulity is recogn

eposits held ths or less thvalue.

differences a the deferres not a busin(ii) when thetiming of the ure.

erences and orary differeeach reportinble profits winised to the e

legally enfont taxable ent

ed Australiame. Each entpplied the 'gaddition to

assumed from

ognised as aat the intercontribution by

unds under nised in othe

at call with fhat are readi

at the tax ratd tax asset ness combine taxable tem

reversal can

unused tax nces and lo

ng date. Defeill be availabextent that it

orceable rightities which i

an subsidiariity in the taxroup allocatiits own tax

m each subs

amounts recempany chargy the head e

Northern Ter payables a

financial instly convertible

tes expectedor liability aation and tha

mporary diffen be controlle

losses only osses. The erred tax ass

ble for the ca is probable

t to offset anntend to sett

es have formx group conton' approachamounts, th

idiary in the t

eivable from ge equals thentity to the

C 2017 $ 1,184 200 1,882 3,267

erritory ('NT')nd accruals

titutions, othee to known a

d to apply wrises from that, at the tim

erence is assed and it is p

if it is probacarrying amsets recogni

arrying amouthat there ar

nd they relattle simultane

med an incoinues to acch in determinhe head enttax group.

or payable e current tax

e subsidiarie

onsolidated7 20

211 4,419 1,70,005 2,553 6

7,188 2,4

) license anat note 14.

er short-termamounts of c

when the he initial

me of the sociated probable

able that mount of ised are

unt to be re future

te to the eously.

ome tax count for ning the tity also

to other x liability s nor a

d016$

711 771,083

- 663,899

435,693

d is not

m, highly ash and F

or p

erso

nal u

se o

nly

TopBNotes30 Ju

Note 9 Trade OtherReseaRentaGood * Refe ImpairThe g Recei AccouTradeinteres Collecoff byobjectreceivpreseterm r Other AccouLoansactiveinteres Note On 29$250,solutio On 24excluswagerIn con

1.2.

3.


9. Current a

e receivables

r receivablesarch and deval bonds s and servic

er to note 5 fo

rment of receroup has not

vables are n

unting policy e receivablesst method, le

ctability of tray reducing thtive evidencvables. The nt value of ereceivables a

receivables

unting policy s and receivae market. Thst rate metho

10. Non-cur

9 March 20000, of whicons for poolin

4 May 2017sive licence.ring technolonsideration fo

. paid $100

. issued a voluntarily2017; andMWS for n

. terminated


assets - trad

s

s velopment ta

ces tax ('GST

or further de

eivables t recognised

neither past d

for trade ands are initially ess any prov

ade receivabhe carrying e that the gamount of t

estimated futare not disco

are recognis

loans and reables are no

hey are initiaod. Gains an

rrent assets

16, the comch $150,000ng event and

7, The Globa MWS has

ogies on an eor the licence

0,000 to eachtotal of 3.5

y escrowed fd transferrednil considerad its call opti

ments

de and other

ax receivable

T') receivable

tails.

an impairme

due nor impa

d other receirecognised

vision for imp

bles is reviewamount dire

group will nthe impairmeure cash flow

ounted if the e

sed at amort

eceivables on-derivativeally measurend losses are

- investmen

mpany acqui0 was paid d wagering in

al Tote Limigranted to Texclusive bae, the Compa

h of MWS anmillion share

for 12 monthd its partly paation; and on over shar

r receivables

e *

e

ent of receiva

aired.

ivables at fair value

pairment. Tra

wed on an onectly. A provot be able ent allowancws, discounteffect of disc

ised cost, les

financial ased at fair vale recognised

nts account

red 12.5% oand $100,0

nformation be

ted ('TGT") TGT an irrevsis for the firany has:

d Live Dataces to MWS s. Shareholdaid shares in

res in MWS.

32

s

ables in prof

e and subseade receivabl

ngoing basisvision for imto collect alce is the difted at the oricounting is im

ss any provis

ssets with fixlue and subin profit or lo

ted for using

of the equit000 remaineetween wage

completed vocable, perrst two years

cast; and Live D

der approval n MWS (on

fit or loss for

equently meales are gene

s. Debts whicmpairment ofll amounts dfference betwiginal effectiv

mmaterial.

sion for impa

xed or determsequently caoss when the

g the equity

y of Modernd unpaid atering operato

its agreemerpetual, royas of the licen

atacast (in efor the issuewhich $150,

the year end

asured at amrally due for

ch are knownf trade receidue accordinween the asve interest ra

airment.

minable paymarried at ame asset is de

y method

n Wagering t 30 June 2ors.

nt with MWalty free licence and there

equal propoe of these sh,000 was pa

C 2017 $ 262 776 805 32 8 1,622 1,885

ded 30 June

mortised costsettlement w

n to be uncoivables is rang to the osset's carryiate. Cash flo

ments that amortised cost

recognised o

Systems Pt2016. MWS

S regarding nce to use eafter, on a n

rtions), 2.5 mhares was obaid) to the ot

onsolidated7 20

2,969

6,664 75,281 32,162 8,693 2,800 1,1

5,769 1,2

2017 (2016:

t using the ewithin 30 day

ollectable areaised when riginal termsng amount

ows relating t

are not quotet using the eor impaired.

ty. Ltd. ('MWcreates wh

the grantinthe MWS’s non-exclusiv

million of whbtained on 14ther shareho

d016$

40,200

776,664 334,711 23,375 54,420

189,170

229,370

Nil).

effective ys.

e written there is s of the and the to short-

ed in an effective

WS') for ite-label

g of an existing

ve basis.

hich are 4 March

olders of

For

per

sona

l use

onl

y

TopBNotes30 Ju

Note Inves Accor IntereInform Name Mode Summonly to Summ SummCurreNon-c Total CurreNon-c Total Net a SummReveExpen Loss Other Total ReconOpenShare Closin


10. Non-cur

tment in ass

rdingly, the in

ests in assomation relatin

e

ern Wagering

marised finano the period

marised finan

marised stateent assets current asset

assets

ent liabilities current liabili

liabilities

ssets

marised statenue nses

before incom

r comprehen

comprehens

nciliation of ting carrying

e of loss afte

ng carrying a


rrent assets

ociate 'MWS

nvestment in

ciate ng to the asso

g Systems Pt

ncial informatfrom acquisi

ncial informat

ement of fina

ts

ties

ement of pro

me tax

sive income

sive income

the group's camount r income tax

amount

ments

- investmen

S'

the associat

ociate is set

ty. Ltd.

tion has beetion (April 20

tion

ancial positio

fit or loss an

carrying amo

x

nts account

te was dispo

out below:

n presented 016) to 30 Ju

n

d other comp

ount

ted for using

33

osed and the

Principal Country o

Australia

for the year une 2016.

prehensive in

g the equity

license was

place of buof incorpora

ended 30 Ju

ncome

y method (co

s recognised

siness /ation

une 2016. Th

ontinued)

C 2017 $

in Note 12 -

Own 2017 %

he profit or lo

onsolidated7 20

- 2

Intangibles.

nership inter7 20

-

oss disclosed

20

1

1

1

(

(

(

2(

2

d016$

239,747

rest016%

12.50%

d relates

016$

158,555 2,556

161,111

10,093 12,414

22,507

138,604

15,403 (97,428)

(82,025)

-

(82,025)

250,000 (10,253)

239,747

For

per

sona

l use

onl

y

TopBNotes30 Ju

Note AccouAssocassocassocincomthe grinvestassoc Whenlong-tbehalf The grecogthe re Note LeaseLess: Plant Less: CompLess: FurnitLess:


10. Non-cur

unting policy ciates are enciates are acciate is recog

me. Investmeroup's share tment and iciates reduce

n the group's erm receivabf of the asso

group disconnises any retained invest

11. Non-cur

ehold improv Accumulate

and equipm Accumulate

puter equipm Accumulate

ture and fittin Accumulate


rrent assets

for associatentities over

ccounted for gnised in pronts in associof net assetss neither a

e the carrying

share of losbles, the grociate.

ntinues the etained investment and pr

rrent assets

vements - at ed depreciatio

ent - at cost ed depreciatio

ment - at costed depreciatio

ngs - at cost ed depreciatio

ments

- investmen

es which the gusing the eq

ofit or loss aiates are cars of the assomortised no

g amount of t

sses in an asup does not

use of the stment at its roceeds from

- property,

cost on

on

t on

on

nts account

group has squity methodnd the share

rried in the stociate. Goodor individualthe investme

ssociate equrecognise fu

equity methfair value. A

m disposal is

plant and e

ted for using

34

ignificant infd. Under the e of the movtatement of fwill relating tly tested fo

ent.

uals or exceeurther losses

hod upon thAny difference

recognised

quipment

g the equity

fluence but equity meth

vements in efinancial posto the assoc

or impairmen

eds its intere, unless it ha

e loss of sie between thin profit or lo

y method (co

not control hod, the shaequity is recoition at cost iate is includnt. Dividend

st in the assas incurred o

ignificant infhe associateoss.

ontinued)

or joint conre of the proognised in oplus post-ac

ded in the cas received

sociate, incluobligations or

fluence overe's carrying a

C 2017 $ 144 (27 116 16 (12 4 294 (90 204 130 (30 100 425

trol. Investmofits or lossether compre

cquisition charrying amounor receivab

uding any unsr made paym

r the associaamount, fair v

onsolidated7 20

4,724 1,825)

6,899 1

6,627 ,460) (

4,167

4,962 ,536) (

4,426

0,686 1,258)

0,428 1

5,920 2

ments in es of the ehensive anges in nt of the

ble from

secured ments on

ate and value of

d016$

104,036 (3,448)

100,588

16,627 (11,738)

4,889

71,183 (15,716)55,467

116,109 (5,723)

110,386

271,330

For

per

sona

l use

onl

y

TopBNotes30 Ju

Note ReconReconbelow Cons BalanAdditiDepre BalanAdditiDepre Balan AccouPlant expen Depreover t LeasePlant CompFurnit The redate. Leasethe es An itegroup Note GoodLess: LicenLess: Brand


11. Non-cur

nciliations nciliations of

w:

solidated

nce at 1 July ions eciation expe

nce at 30 Junions eciation expe

nce at 30 Jun

unting policy and equipm

nditure that is

eciation is caheir expecte

ehold improvand equipm

puter equipmture and fittin

esidual value

ehold improvstimated usef

em of propert. Gains and

12. Non-cur

will - at cost Impairment

ce - at cost Accumulate

d - at cost


rrent assets

f the written

2015

ense

ne 2016

ense

ne 2017

for property,ment is stateds directly attr

alculated on ed useful lives

vements ent

ment ngs

es, useful liv

vements and ful life of the

ty, plant and losses betwe

rrent assets

ed amortisatio

ments

- property,

down values

, plant and ed at historicaributable to th

a straight-lins as follows:

ves and dep

plant and eassets, whic

equipment ieen the carry

- intangible

on

plant and e

s at the begi

Leaimprov

quipment al cost less he acquisitio

ne basis to w

preciation me

quipment unchever is sho

s derecognisying amount

es

quipment (c

35

nning and e

sehold Pvements e$

-104,036

(3,448)

100,588 40,688

(24,377)

116,899

accumulaten of the item

write off the

unde5 yea2.5 y5 yea

ethods are r

nder lease arorter.

sed upon disand the disp

continued)

nd of the cu

Plant and equipment

$ 6,389

-(1,500)

4,889 -

(722)

4,167

d depreciatioms.

net cost of

er the lease tars years ars

reviewed, an

re depreciate

sposal or whposal procee

rrent and pre

Computerequipment

$ 13,3555,09

(12,98

55,46223,77(74,82

204,42

on and impa

each item o

term

nd adjusted i

ed over the u

en there is neds are taken

evious financ

r Furnituret fitting

$

58 197 11388) (4

67 11079 1420) (24

26 100

airment. Hist

f property, p

if appropriate

unexpired pe

no future econ to profit or l

C 2017 $ 6,559 (1,802 4,756 1,010 (16 993 50 5,800

cial year are

e andgs To

,081 3,430 2,125) (

0,386 24,577 2,535) (1

0,428 4

torical cost i

plant and eq

e, at each re

eriod of the l

onomic benefloss.

onsolidated7 20

9,050 4,2,453)

6,597 4,2

0,315 ,839)

3,476

0,000

0,073 4,2

e set out

otal $ 20,828

272,563 (22,061)

271,330 279,044 124,454)

425,920

includes

uipment

eporting

lease or

fit to the

d016$

275,527 -

275,527

- - -

-

275,527

For

per

sona

l use

onl

y

TopBNotes30 Ju

Note ReconReconbelow Cons Balan BalanAdditiAdditiImpaiAmor Balan ImpairGoodw TournConte The cgener The reflow musing Key a The fo(a) 17(b) ter(c) 3%(d) revactivequartemode The dgroupmovem The Brates


12. Non-cur

nciliations nciliations of

w:

solidated

nce at 1 July

nce at 30 Junions ions throughrment of ass

rtisation expe

nce at 30 Jun

rment testingwill acquired

naments andent services

company hasrated to supp

ecoverable amodels, basea steady rat

ssumptions

ollowing key 7.5% (2016:1rminal value

% (2016: 3%)venue growt

e users in therly-active sulled to increa

discount rate's weighted aments.

Board believeand planned


rrent assets

f the written

2015

ne 2016

business cosets ense

ne 2017

g through bus

wagering

s impaired tport its carryi

amount of thed on a one e, together w

are those to

assumptions7.5%) pre-taof 6.5x prev) per annum h at 80% of e coming yeubscribers (aase by 2% co

e of 17.5% paverage cos

es the projecd product intr

ments

- intangible

down values

ombinations

siness combi

the goodwillng value.

e group's goyear project

with a termina

which the re

s were used ax discount raious year’s Eincrease in emanagemenear and contacross all seompared to t

pre-tax reflet of capital a

cted revenueroductions.

es (continue

s at the begi

(note 28)

inations have

on the con

oodwill has btion period aal value.

ecoverable a

in the discouate;

Earnings, Befemployee bent’s forecast ftinuing at a ervices) werethe average r

cts manageadjusted for th

e growth rate

ed)

36

nning and e

e been alloca

ntent busines

been determapproved by

mount of an

unted cash fl

fore Interestenefits expenfor financial ysteady pacee 9,093. Forrevenue per

ment’s conshe risk free r

is prudent a

nd of the cu

Goodwill $

4,275,527

4,275,527 -

2,283,523 (1,802,453)

-

4,756,597

ated to the fo

ss by $1,80

ined by valumanagemen

asset or cas

low model fo

, Tax, Deprense; and year to 30 Jue in subsequr the period active user d

servative estrate and the

and justified,

rrent and pre

Licence$

1,010,31

(16,83

993,47

ollowing cash

02,453 due t

ue-in-use calnt and extrap

sh-generating

or the tournam

eciation and A

une 2018 whuent years. July 2017-J

during the pe

timate of thevolatility of t

based on th

evious financ

Brand $

-

- 15

- 50-

39)

76 50

h-generating

C 2017 $ 4,756 4,756

to insufficien

culations uspolated for a

g units is mo

ments and w

Amortisation

hich would reFor the perioJune 2018, reriod April-Ju

e time valuehe share pric

he combinatio

cial year are

d To

- 4,2

- 4,2- 1,0

0,000 2,3- (1,8- (

0,000 5,8

g units:

onsolidated7 20

6,597 2,4- 1,8

6,597 4,2

nt cash flow

ing discountea further thre

ost sensitive.

wagering divis

('EBITDA');

esult in a douod April-Junrevenue per une 2017.

e of money ce relative to

on of current

e set out

otal $

275,527

275,527 010,315 333,523 802,453)(16,839)

800,073

d016$

473,074 802,453

275,527

ws being

ed cash ee years

sion:

ubling of e 2017,

r user is

and the o market

t growth

For

per

sona

l use

onl

y

TopBNotes30 Ju

Note SensiAs disof goomay d EitherTourn The Bbased AccouGoodwimpaircost lsubse LicencSignifexpec BrandThe Mimpair AccouOther carryinamou Recovpresecash-gform a


12. Non-cur

itivity analysisclosed in noodwill. Shoudecrease. Th

r revenue penament and W

Board believed would not c

unting policy will arises orment, or moless accumu

equently reve

ce icant costs

cted benefit,

ds Mad Bookie brment.

unting policy non-financia

ng amount mnt exceeds it

verable amont value of thgenerating ua cash-gener


rrent assets

is ote 3, the direld these jud

he sensitivitie

er user, or Wagering div

es that other cause the rec

for goodwill on the acquore frequentlulated impaersed.

associated wbeing their fi

brand name

for impairmeal assets aremay not be rts recoverab

unt is the highe estimated

unit to which rating unit.

ments

- intangible

ectors have mgements and

es of the carr

the numbervision before

reasonable coverable am

isition of a y if events oirment losse

with licence nite life of 5

acquired in

ent of other ne reviewed frecoverable.

ble amount.

gher of an ad future cashthe asset be

es (continue

made judgemd estimates rying value o

r of users, goodwill wo

changes in tmount to fall b

business. Gor changes ies. Impairm

are deferreyears. Refer

the busines

non-financialfor impairmeAn impairm

asset's fair vah flows relatielongs. Asse

ed)

37

ments and esnot occur af goodwill to

would needuld become

the key assubelow the ca

Goodwill is nn circumstanent losses

ed and amor to Note 10 f

s combinatio

l assets ent wheneve

ment loss is r

alue less cosng to the as

ets that do no

stimates aboas approxima

such judgem

to decreasimpaired, wi

umptions on arrying amou

not amortisences indicateon goodwill

rtised on a for further de

ons and has

er events or recognised fo

sts of disposset using a ot have inde

out the futureated, the resments and es

se by 25% th all other a

which the rent.

ed. Instead, e that it migh are taken

straight-lineetails.

an indefinite

changes in or the amou

sal and valuepre-tax disco

ependent cas

e in respect osulting goodwstimates are

in cash flowassumptions

ecoverable a

goodwill is ht be impaire

to profit or

e basis over

e life which w

circumstancnt by which

e-in-use. Theount rate spesh flows are

of impairmenwill carrying as follows:

w modelling remaining co

mount of go

tested annued, and is car loss and

the period

will be asses

ces indicate the asset's

e value-in-usecific to the agrouped tog

t testing amount

for the onstant.

odwill is

ually for arried at are not

of their

ssed for

that the carrying

se is the asset or

gether to

For

per

sona

l use

onl

y

TopBNotes30 Ju

Note Defer Amou

TaPrIntAcSu

Amou

Tr Defer MoveOpenCrediCredi Closin Note TradeAccruOther Refer AccouThesewhichamou


13. Non-cur

rred tax asse

unts recognisax losses roperty, planttangibles ccrued expenuperannuatio

unts recognisransaction co

rred tax asse

ements: ing balance ted to profit oted to equity

ng balance

14. Current

e payables ued expensesr payables

to note 20 fo

unting policy e amounts re are unpaidnts are unse


rrent assets

et comprises

sed in profit o

t and equipm

nses on

sed in equityosts on share

et

or loss (notey (note 7)

liabilities - t

s

or further info

for trade andepresent liabd. Due to thecured and a

ments

- deferred t

temporary d

or loss:

ment

: e issue

7)

trade and ot

ormation on

d other payabilities for gooeir short-terre usually pa

tax

differences at

ther payable

financial inst

ables ods and servm nature thaid within 30

38

ttributable to

es

truments.

vices providehey are mea

days of reco

o:

ed to the groasured at amognition.

oup prior to tmortised cos

C 2017 $ 3,338 (53 (13 50 12 3,334 267 3,602 2,178 1,398 25 3,602

C 2017 $ 581 808 2,136 3,526

the end of thst and are n

onsolidated7 20

8,791 1,8,123) (,750)

0,136 2,551

4,605 1,9

7,446 2

2,051 2,1

8,618 78,158 1,15,275 3

2,051 2,1

onsolidated7 20

,209 78,448 46,693 8

6,350 2,0

he financial ynot discounte

d016$

864,443 (49,002)

- 78,887 20,105

914,433

264,185

178,618

701,055 147,332 330,231

178,618

d016$

738,999 444,955 881,603

065,557

year and ed. The

For

per

sona

l use

onl

y

TopBNotes30 Ju

Note Annua AccouLiabilisettledare se Note Long AccouThe limeasuto thelevelsyieldsestima Note Ordin


15. Current

al leave

unting policy ties for wagd wholly withettled.

16. Non-cur

service leav

unting policy ability for anured as the

e reporting d, experience at the reporated future c

17. Equity -

ary shares -


liabilities - e

for short-termes and sala

hin 12 month

rrent liabiliti

e

for long-termnnual leave apresent valuate using th

e of employerting date on

cash outflows

issued cap

fully paid

ments

employee b

rm employee ries, includin

hs of the repo

es - employ

m employee band long servue of expectehe projected e departures

n corporate bs.

ital

benefits

benefits ng non-moneorting date a

yee benefits

benefits vice leave ned future payunit credit m

s and periodbonds with te

39

etary benefitare measured

ot expected yments to bemethod. Cons of service.

erms to matu

14

ts, annual led at the amo

to be settlede made in rensideration is Expected fu

urity and curr

2017Shares

43,001,477

eave and lonounts expecte

d within 12 mspect of servs given to exuture paymerency that m

Cons2016

Shares

96,364,54

C 2017 $ 288

ng service leed to be paid

C 2017 $ 59

months of thvices providexpected futunts are discoatch, as clos

solidated 2017 $

46 22,791

onsolidated7 20

8,416 2

eave expected when the l

onsolidated7 20

9,478

e reporting ded by employ

ure wage andounted usingsely as poss

7 20

,244 14,6

d016$

219,795

ed to be iabilities

d016$

43,163

date are yees up d salary

g market ible, the

016$

696,667

For

per

sona

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TopBNotes30 Ju

Note Movem Detai BalanShareexistinShareexistinShareTransDefer13) BalanShareShareShareShareShareTransDefer13) Balan OrdinaOrdinapropocompa On a share CapitaThe gprovidthe co Capitaas tota In ordpaid to The gor comis acti The g AccouOrdina Incremfrom t


17. Equity -

ments in ord

ls

nce es issued befng shareholde-split 29:50 ng share heles issued at saction costsrred tax cred

nce es issued es issues es issued es issued e purchase psaction costsrred tax cred

nce

ary shares ary shares ertion to the nany does not

show of hanshall have o

al risk managgroup's objecde returns forost of capital.

al is regardedal borrowing

der to maintao shareholde

roup intendsmpany is seevely pursuin

roup is not s

unting policy ary shares a

mental costs the proceeds


issued cap

dinary share c

fore Initial Puders during thnew shares d IPO

s it recognised

plan s it recognised

entitle the hnumber of ant have a limit

nds every meone vote.

gement ctives when r shareholde.

d as total eqs less cash a

ain or adjust ers, return ca

s to raise capen as value-ag additional

subject to any

for issued caare classified

directly attris.

ments

ital (continu

capital

ublic Offeringhe financial yissued for ea

d directly in e

d directly in e

holder to parnd amounts pted amount o

ember prese

managing cers and bene

uity, as recoand cash equ

the capital sapital to shar

pital to assistadding relativinvestments

y financing a

apital as equity.

butable to th

ued)

g ('IPO') to year ach 1

equity (note

equity (note

rticipate in dpaid on the sof authorised

ent at a meet

capital is to fits for other

ognised in theuivalents.

structure, thereholders, iss

t with workingve to the curin the short

arrangements

he issue of n

40

Date

1 July 2015

15 Novembe11 Decembe

30 June 20124 August 230 Novembe17 May 20124 May 20123 June 201

30 June 201

dividends anshares held. d capital.

ting in perso

safeguard itstakeholder

e statement

e group maysue new sha

g capital reqrrent companterm as it co

s covenants.

new shares o

er 2015 er 2015

16 2016 er 2016 7 7

17

17

nd the proceThe fully pai

on or by prox

s ability to crs and to mai

of financial p

y raise additiares or sell as

uirements orny's share prontinues to g

.

or options are

Shares

1,836,87

412,76

64,114,9030,000,00

96,364,5414,454,6815,000,009,843,753,500,003,838,50

143,001,47

eeds on the d ordinary sh

xy shall have

continue as intain an opt

position, plus

onal capital,ssets to redu

r when an oprice at the timrow its existi

e shown in e

Issue p

79

66

$

01

$00 $

- $

-

$

46 81 $00 $50 $00 $00 $

- $

-

$

77

winding up hares have n

e one vote a

a going conimum capita

s net debt. N

adjust the auce debt.

pportunity to me of the invng business

equity as a d

price

8,0

$3.41 1,4

$0.00$0.20 6,0$0.00 (1,1

$0.00 3

14,6$0.18 2,6$0.20 3,0$0.16 1,5$0.19 6$0.16 6$0.00 (4

$0.00

22,7

of the comno par value

nd upon a p

ncern, so thal structure to

et debt is ca

amount of di

invest in a bvestment. Thes.

eduction, ne

$

059,683

407,523

-000,000 100,770)

330,231

696,667 601,842 000,000 575,000 682,500 614,160 404,200)

25,275

791,244

mpany in and the

oll each

at it can o reduce

alculated

ividends

business he group

et of tax,

For

per

sona

l use

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TopBNotes30 Ju

Note Share ShareThe rremun MovemMovem Cons BalanShare BalanShare Balan Note There Note 2 FinanThe grisk m Risk m('the proceunits. Marke ForeigThe g Price The g IntereThe ggroup CrediCreditgroupof anyfinanc


18. Equity -

e-based paym

e-based paymreserve is uneration, and

ments in resments in eac

solidated

nce at 1 July e-based paym

nce at 30 June-based paym

nce at 30 Jun

19. Equity -

e were no div

20. Financia

ncial risk maroup's activit

management

managementBoard'). Thedures, contrFinance rep

et risk

gn currency rroup is not e

risk roup is not e

st rate risk group's main is not expos

it risk t risk refers . The maximy provisions cial statemen


reserves

ments reserv

ments reservsed to reco

d other partie

erves ch class of re

2015 ments

ne 2016 ments

ne 2017

dividends

vidends paid,

al instrumen

anagement oties expose iprogram foc

t is carried oese policiesols and risk orts to the B

risk exposed to a

exposed to a

interest ratesed to any si

to the risk thmum exposur

for impairmnts. The grou

ments

ve

ve ognise the ves as part of

eserve during

, recommend

nts

objectives it to a varietyuses on the

out by senior include idelimits. Finanoard on a m

ny foreign cu

ny price risk.

e risk arose gnificant inte

hat a countere to credit ris

ment of thoseup does not h

value of equtheir compen

g the current

ded or declar

y of financial unpredictabi

r finance exeentification ance identifiesonthly basis

urrency risk.

.

from loans terest rate risk

erparty will dsk at the repe assets, ashold any colla

41

uity benefits nsation for se

t and previou

red during th

risks, particility of wager

ecutives ('finaand analysiss, evaluates .

to related pak.

default on itsporting date ts disclosed ateral.

provided toervices.

us financial y

he current or

ularly liquiditring liabilities

ance') under s of the risand hedges

arties-borrow

s contractual to recognisedin the statem

o employees

year are set o

previous fina

ty risk and ws and liquidity

policies appk exposure s financial ris

ings which h

obligations d financial asment of fina

C 2017 $ 1,473

s and directo

out below:

Share-ba payme $ 1,253 1,253 220 1,473

ancial year.

wagering risk.y.

proved by theof the grou

sks within th

have now be

resulting in ssets is the cancial positio

onsolidated7 20

3,958 1,2

ors as part

ased nts To

-3,340 1,2

3,340 1,20,618 2

3,958 1,4

. The group's

e Board of Dup and apphe group's op

een fully repa

financial loscarrying amoon and notes

d016$

253,340

of their

otal $

- 253,340

253,340 220,618

473,958

s overall

Directors propriate perating

aid. The

s to the ount, net s to the

For

per

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TopBNotes30 Ju

Note 2 LiquidVigilanand avliquidicash f RemaThe fobeen financcontra

Cons Non-dNon-iTradeOtherEarn-Total

Cons Non-dNon-iTradeOtherTotal The cabove WageThe gthat cproce


20. Financia

dity risk nt liquidity risvailable borrty risk by maflows and ma

aining contracollowing tabledrawn up b

cial liabilities actual maturi

solidated - 2

derivatives interest bearie payables r payables -out provisionnon-derivativ

solidated - 2

derivatives interest bearie payables r payables non-derivativ

cash flows ine.

ering risk roup faces wlients may wdures and sy


al instrumen

sk managemrowing facilitiaintaining adatching the m

ctual maturites detail the

based on theare requiredties and ther

017

ring

n ves

016

ring

ves

n the maturity

wagering riskwin each dayystems, that

ments

nts (continu

ment requiresies to be abldequate cashmaturity profi

ties e group's reme undiscound to be paid. refore these

Weighavera

interest %

Weighavera

interest %

y analysis a

k as part of ity, and, in casexposure is

ed)

s the group toe to pay debh reserves, rles of financ

maining contrted cash floThe tables itotals may d

ted ge rate 1 yea

- 5- 2,- 2,2 4,9

ted ge rate 1 yea

- 7- 8 1,6

bove are no

ts wagering bses that an laid-off to ot

42

o maintain subts as and wraising capitaial assets an

ractual matuows of finannclude both

differ from the

ar or lessBan

$

581,209 136,693 215,480 933,382

ar or lessBan

$

738,999 881,601 620,600

ot expected t

business. Thexposure is her bookmak

ufficient liquihen they becal to fund gr

nd liabilities.

rity for its fincial liabilitiesinterest and

eir carrying a

Between 1 nd 2 years

$

----

Between 1 nd 2 years

$

---

to occur sign

his risk is condeemed too

kers.

d assets (macome due anrowth and by

nancial instrus based on principal ca

amount in the

Between 2and 5 years

$

Between 2and 5 years

$

nificantly ear

ntrolled by seo great or too

ainly cash annd payable. Ty monitoring

ument liabilitithe earliest

ash flows disce statement o

2 s

Over 5 y $

- - - -

2 s

Over 5 y $

- - -

rlier than con

etting limitatio likely acco

nd cash equiThe group mactual and f

es. The tabldate on wh

closed as reof financial p

years

Remcontrmat

- 5- 2,1- 2,2- 4,9

years

Remcontrmat

- 7- 8- 1,6

ntractually di

ons on the aording to the

valents) manages forecast

es have hich the maining

position.

maining ractual urities $

581,209 136,693 215,480 933,382

maining ractual urities $

738,999 881,601 620,600

isclosed

amounts group’s

For

per

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l use

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TopBNotes30 Ju

Note 2 Fair vThe fohierarLevel measuLevel or indLevel Cons LiabiliEarn-Total There The cvalues The fainteres AccouWhenfair vabetweprincip Fair vassumhighesavailaunobs Assetssignifitransfvalue For renot avand reanalyswhere


21. Fair valu

value hierarchollowing tabrchy, based o

1: Quoted purement date2: Inputs othirectly 3: Unobserv

solidated - 2

ities -out provisionliabilities

e were no tra

carrying amos due to their

air value of fst rate that is

unting policy n an asset oralue is basedeen market ppal market; o

value is meaming they acst and best

able to measservable inpu

s and liabilitcance of theers betweenmeasureme

ecurring and vailable or weputation. Wsis is underte applicable,


ue measurem

hy bles detail thon the lowestprices (unade her than quo

vable inputs f

017

n

nsfers betwe

unts of trader short-term

financial liabs available fo

for fair valuer liability, finad on the priceparticipants or in the abse

asured usingct in their eco

use. Valuatsure fair valuuts.

ties measuree inputs use

n levels are dnt.

non-recurrinhen the valu

Where there aken, which with externa

ments

ment

he group's at level of inp

djusted) in ac

oted prices in

for the asset

een levels du

e and other rnature.

bilities is estimor similar fina

e measuremeancial or none that would at the measence of a pri

g the assumonomic bestion techniquue, are used

ed at fair valed in makingdetermined b

ng fair value uation is deeis a significaincludes a v

al sources of

assets and lut that is signctive market

ncluded with

t or liability

uring the fina

receivables a

mated by disancial liabiliti

ent n-financial, isbe received

surement dancipal marke

mptions that t interests. Fues that are d, maximisin

ue are classg the measubased on a r

measurememed to be siant change verification odata.

43

iabilities, menificant to thets for identic

in Level 1 th

ancial year.

and trade an

scounting thees.

s measured to sell an as

ate; and asset, in the mos

market partFor non-finan

appropriate g the use o

sified, into thurements. Creassessmen

ents, externaignificant. Exin fair value

of the major

easured or de entire fair v

cal assets or

hat are obser

Level 1 $

--

nd other pay

e remaining

at fair valuesset or paid tumes that thst advantage

ticipants woncial assets,

in the circuf relevant ob

hree levels, uClassificationsnt of the lowe

al valuers maxternal value of an asseinputs applie

disclosed at value measur liabilities th

rvable for the

Level 2$

yables are as

contractual

e for recognito transfer a he transactioeous market.

uld use whethe fair valu

umstances abservable in

using a fair vs are reviewest level of in

ay be used wers are selectt or liability ed in the late

fair value, urement, beinhat the entity

e asset or lia

Level $

- 2,215- 2,215

ssumed to a

maturities at

tion or discloliability in an

on will take

en pricing thue measuremnd for whichputs and mi

value hierarcwed at each nput that is s

when internated based onfrom one peest valuation

using a threng: y can acces

ability, either

3 To

5,480 2,25,480 2,2

pproximate t

t the current

osure purposn orderly tranplace either

he asset or ment is baseh sufficient dinimising the

chy that reflereporting d

significant to

al expertise n market knoeriod to anon and a com

ee level

s at the

r directly

otal $

215,480 215,480

their fair

t market

ses, the nsaction r: in the

liability, ed on its data are e use of

ects the ate and

o the fair

is either owledge ther, an parison,

For

per

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TopBNotes30 Ju

Note 2 CompThe a ShortPost-eShare In addnote 2 Note 2 DuringLimite Audit Audit OtherAudit Due dPrepaTaxatAdvicRevie Note 2 The gRequi


22. Key man

pensation ggregate com

-term employemploymente-based paym

dition to the 26.

23. Remune

g the financied Partnershi

services - Por review of

r services - Pservices for

diligence reparation of thetion advice ce on LTIP taew of Turnov

24. Conting

group has girements.


nagement p

mpensation

yee benefits t benefits ments

above, certa

eration of au

ial year the ip, the audito

PKF(NS) Audthe financia

PKF(NS) financial yeaorting for IPO

e investigatin

axation ver certificate

ent liabilitie

given bank g

ments

personnel di

made to dire

ain directors

uditors

following feeor of the com

dit & Assuranl statements

ars 30 June 2O ng accountan

e

es

guarantees

sclosures

ectors and ot

received pa

es were paidmpany:

nce Limited P

2012 to 2015

nt report for I

as at 30 Ju

44

ther member

yments for c

d or payable

Partnership

5

PO

une 2017 of

rs of KMP of

consultancy s

e for service

f $200,000

the group is

services dire

es provided b

(2016: $nil)

set out belo

C 2017 $ 858 76 29 964

ectly or indire

by PKF(NS)

C 2017 $ 125 13 3 16 141

for Norther

w:

onsolidated7 20

8,628 56,423 9,900 9

4,951 1,5

ectly as disc

Audit & As

onsolidated7 20

5,164

- - - -

3,000 3,600

6,600 1

,764 2

rn Territory

d016$

562,105 52,868

962,440

577,413

closed in

surance

d016$

79,186

85,623 45,316 40,139 10,000

750 -

181,828

261,014

Licence

For

per

sona

l use

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TopBNotes30 Ju

Note 2 LeaseCommWithinOne t Operafive yemotorterms Note 2 ParenTopBe SubsiIntere AssocIntere Key mDisclodirecto TransThe fo PaymConsdirectConsby dir ReceiThe fo CurreTradeTrade LoansThere


25. Commit

e commitmenmitted at the n one year to five years

ating lease cears). Annuar vehicle and

(unless term

26. Related

nt entity etta Holdings

idiaries sts in subsid

ciates sts in associ

management osures relatinors' report.

sactions with ollowing tran

ment for otherulting fees pator, Matthew ulting fees parector Simon

ivable from aollowing bala

ent payables:e payables toe payables to

s to/from relae were no loa


ments

nts - operatinreporting da

commitmentsal amounts wd a short termminated by ei

party transa

s Limited is t

diaries are se

iates are set

personnel ng to key m

related partisactions occ

r expenses: aid to FerghaCain) aid to Media Dulhunty)

and payable tances are ou

: o Ferghana fo SDMSC for

ated parties ans to or from

ments

ng ate but not re

s include amowill increase m property leither party).

actions

he parent en

et out in note

out in note 1

management

ies curred with re

ana Capital P

Solutions C

to related patstanding at

for expensesr consulting s

m related par

cognised as

ounts relatedat the greatease whose

ntity.

e 29.

10.

personnel a

elated parties

Pty Ltd ('Ferg

Company Pty

arties the reporting

s on behalf ofservices

rties at the cu

45

liabilities, pa

d to five yearer of 3% or term has be

are set out i

s:

ghana') (a co

Ltd ('SDMSC

g date in rela

f the compan

urrent and pr

ayable:

r leases of oCPI. Includeeen extende

n note 22 a

ompany cont

C') (a compa

ation to trans

ny

revious repo

offices (with ted also is a fed as from 3

and the remu

trolled by

any controlle

actions with

rting date.

C 2017 $ 120 327 448

the option tofive year ope

31 December

uneration re

C 2017 $

130d

120

related parti

C 2017 $ 11 11

onsolidated7 20

0,723 17,444 4

8,167 5

extend for aerating leaser 2016 on th

port included

onsolidated7 20

0,000 1

0,000

es:

onsolidated7 20

,041 ,231

d016$

139,458 448,167

587,625

a further e over a he same

d in the

d016$

110,000

60,000

d016$

274 11,000

For

per

sona

l use

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TopBNotes30 Ju

Note 2 TermsAll tra Note 2 Set ou Statem Loss Total Statem Total Total Total Total Equity

IssShAc

Total GuaraThe p ContinThe p CapitaThe p SignifiThe afollow● I● D

i


26. Related

s and conditinsactions we

27. Parent e

ut below is th

ment of profi

after income

comprehens

ment of finan

current asse

assets

current liabil

liabilities

y sued capital hare-based pccumulated l

equity

antees enterearent entity h

ngent liabilitiearent entity h

al commitmearent entity h

ficant accounaccounting powing:

nvestments Dividends rendicator of a


party transa

ions ere made on

entity inform

he suppleme

it or loss and

e tax

sive income

ncial position

ets

lities

payments resosses

ed into by thhad no guara

es had no conti

ents - Properthad no capita

nting policiesolicies of the

in subsidiarieceived from an impairmen

ments

actions (con

n normal com

mation

entary informa

d other compr

n

serve

e parent entiantees in rela

ngent liabiliti

rty, plant andal commitme

s e parent enti

es are accousubsidiaries

nt of the inve

ntinued)

mmercial term

ation about t

rehensive in

ity in relationation to the d

ies as at 30 J

d equipmentents for prope

ity are consi

unted for at cs are recognestment.

46

ms and condi

the parent en

come

n to the debtsdebts of its s

June 2017 a

erty, plant an

stent with th

cost, less anyised as othe

itions and at

ntity.

s of its subsidubsidiaries a

nd 30 June 2

nd equipmen

hose of the g

y impairmener income by

market rates

diaries as at 30 June

2016.

nt as at 30 Ju

group, as dis

t, in the parey the parent

s.

2017 $ (9,515 (9,515

2017 $ 1,582 2,514 22,791 1,473 (21,750 2,514

e 2017 and 3

une 2017 and

sclosed in no

ent entity. entity and its

Parent7 20

5,366) (5,3

5,366) (5,3

Parent7 20

2,005 1,3

4,893 3,7

-

-

,244 14,63,958 1,2,309) (12,2

4,893 3,7

30 June 2016

d 30 June 20

ote 2, except

s receipt ma

016$

301,718)

301,718)

016$

336,436

715,064

-

-

696,667 253,340 234,943)

715,064

6.

016.

t for the

ay be an

For

per

sona

l use

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TopBNotes30 Ju

Note 2 Mad BOn 1 $2,31the acand n Acquisnon-re Detail BrandDeferEmplo Net aGood Acqui RepreCash Earn- * Subjof 2x conso AccouThe ainstrum The cissuedin the or at profit On thclassifaccou Whereacquirrecog ContinchangContinequity


28. Busines

Bookie May 2017, t5,480. This a

cquisition of Met profit of $3

sition costs eecurring expe

s of the acqu

d rred tax liabiloyee benefits

ssets acquirewill

isition-date fa

esenting: paid or paya

-out *

ject to satisfyNet Gaming

olidated entity

unting policy acquisition mments or oth

considerationd or liabilitiesacquiree. Fothe proportioor loss.

e acquisitionfication and

unting policie

e the busineree at the acnised in prof

ngent considges in the fangent considy.


ss combinat

the group acacquisition wMad Bookie 335,000 to th

expensed to enses, in the

uisition are a

ity s

ed

air value of t

able to vendo

ying certain erevenue wil

y.

for businessmethod of aher assets are

n transferreds incurred byor each busionate share

n of a businedesignation

s and other

ess combinacquisition-dafit or loss.

deration to bair value of thderation clas

ments

tions

cquired Mad will improve a

are provisionhe group for

profit or losse statement o

as follows:

he total cons

or

earn-out conl be paid to t

s combinationaccounting ie acquired.

is the sum y the acquireness combinof the acqu

ess, the groun in accordapertinent con

ation is achieate fair value

be transferrehe contingenssified as eq

Bookie busian important nal as at 30 Jthe period fr

s during the fof profit or los

sideration tra

nditions durinthe vendors.

ns s used to a

of the acqur to former o

nation, the nouiree's identif

up assesses nce with thenditions in ex

eved in stage and the diff

ed by the acnt consideratquity is not r

47

iness from Mcapability foJune 2017. Trom 1 May 20

financial yeass and other

ansferred

ng the period This payme

account for

isition-date fowners of theon-controllingfiable net as

the financiae contractuaxistence at th

es, the grouference betw

cquirer is rection classifieremeasured

Mad Bookie or the group'sThe acquired017 to 30 Ju

ar were $2,50r comprehen

d ending on tent can be m

business c

fair values oe acquiree ang interest in ssets. All acq

l assets acqal terms, ecohe acquisition

up remeasurween the fair

cognised at ed as an ass

and its sub

Pty Ltd for ts strategy. Thd business cone 2017.

00. These cosive income.

the first annivmade by a mi

combinations

of the assetsnd the amouthe acquireequisition cos

uired and liaonomic condn-date.

res its previor value and

the acquisitset or liabilitybsequent set

otal considehe values ideontributed re

osts have bee.

versary of coxture of cash

s regardless

s transferrednt of any non

e is measurests are expe

abilities assuditions, the g

ously held ethe previous

ion-date fairy is recognisttlement is a

ration transfentified in re

evenues of $6

en recognise

Fair

(

2,2

2,3

(1(2,2

(2,3

ompletion, a h or of share

s of whether

, equity instrn-controlling d at either fansed as inc

med for appgroup's oper

equity interess carrying am

r value. Subssed in profit accounted fo

ferred of lation to 657,000

ed in the

value$

50,000 (13,750)(4,293)

31,957 283,523

315,480

100,000)215,480)

315,480)

multiple es in the

r equity

ruments interest

air value urred to

propriate rating or

st in the mount is

sequent or loss.

or within

For

per

sona

l use

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TopBNotes30 Ju

Note 2 The dinteresin the value gain dmeasuand th Businprovison neperiodinform Note 2 The caccord Name OperiTopB12FolOM IPOM AThe BThe G * O Note 3 Loss AdjusDepreImpaiShareShareFinan Chan

IncIncIncIncIncInc

Net ca


28. Busines

difference best in the acqacquiree is of the ident

directly in prourement of the acquirer's

ess combinsional amounew informatiod ends on eit

mation possib

29. Interests

consolidateddance with th

e

s Momentusetta Pty Ltd llow Pty Ltd P Pty Ltd Apps Pty Ltd Bookies ToteGlobal Tote L

On 6 Octobe

30. Reconci

after income

stments for: eciation and rment of goo

e of loss - ase-based paymnce costs - no

ge in operaticrease in tracrease in decrease in precrease in tracrease in emcrease in de

ash used in o


ss combinat

etween the aquiree and threcognised aifiable net asofit or loss bythe net asset previously h

ations are nts recogniseon obtained ther the earl

ble to determ

s in subsidi

financial she accountin

s Pty Ltd

e Pty Ltd * Limited

er 2016 the c

iliation of lo

e tax benefit f

amortisationodwill sociates ments on-cash

ing assets anade and otheferred tax asepayments

ade and othemployee beneferred reven

operating ac

ments

tions (contin

acquisition-dhe fair value as goodwill. ssets acquiry the acquirets acquired, held equity in

initially accoed and also about the faier of (i) 12

mine fair value

aries

tatements inng policy des

ompany cha

oss after inc

for the year

n

nd liabilities: r receivables

ssets

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nued)

date fair valuof the considIf the consided, being a er on the acqthe non-con

nterest in the

ounted for orecognises aacts and circmonths frome.

ncorporate tscribed in not

anged its nam

ome tax to n

s

48

ue of assetsderation traneration transbargain purc

quisition-datentrolling intere acquirer.

on a provisadditional ascumstances

m the date of

the assets, te 2:

Principal Country o

AustraliaAustraliaAustraliaAustraliaAustraliaAustraliaAlderney

me to The Gl

net cash us

s acquired, nsferred and sferred and tchase to thee, but only arest in the ac

sional basis.ssets or liabil

that existedf the acquisit

liabilities an

place of buof incorpora

obal Tote Au

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liabilities asthe fair valuhe pre-existi

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. The acquilities during t

d at the acqution or (ii) wh

nd results o

siness /ation

ustralia Pty L

ting activitie

sumed and e of any preing fair valuehe differenceessment of thny, the consi

irer retrospethe measureuisition-datehen the acqu

of the follow

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Limited.

es

C 2017 $ (7,618 141 1,802 11 220 159 (656 (1,384 (89 1,218 80 (17 (6,132

any non-co-existing inv

e is less thane is recognishe identificatideration tran

ectively adjuement period. The measuuirer receives

wing subsidi

nership inter7 20

00% 1000% 1000% 1000% 1000% 1000% 1000%

onsolidated7 20

8,257) (4,5

,293 2,453 ,392

0,618 1,29,493

6,399) (1,334) (1,4,586) (

8,212 1,40,643 1,845)

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ntrolling estment

n the fair sed as a tion and nsferred

usts the d, based urement s all the

aries in

rest016%

00.00% 00.00% 00.00% 00.00% 00.00% 00.00%

-

d016$

537,525)

22,061 -

10,253 253,340

-

127,834)477,563)(59,005)411,616 162,926 18,045

323,686)

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TopBNotes30 Ju

Note 3 ShareShareShare $10,0 Note 3 Loss Weigh Weigh BasicDilute 39,16anti-d Accou Basic Basic excludoutsta DiluteDilutethe afweighordina Note 3 The loundereligiblexerci


31. Non-cas

es issued fores issued on es issued for

03 of cash re

32. Earning

after income

hted average

hted average

c earnings peed earnings p

7,000 optionilutive for the

unting policy

earnings peearnings pe

ding any cosanding during

d earnings pd earnings pfter income thted averageary shares.

33. Share-b

ong-term incr the terms oe participantised by the r


sh financing

r amounts recconversion

r services rec

eceived in 20

s per share

e tax attributa

e number of

e number of

er share per share

ns over ordine year ended

for earnings

er share er share is sts of servicg the financia

per share per share adtax effect of e number of

ased payme

centives planf the LTIP, thts ('awards')elevant parti

ments

g activities

ceived in prioof loan ceived

016 related to

able to the ow

ordinary sha

ordinary sha

ary shares ad 30 June 20

s per share

calculated bing equity otal year, adjus

djusts the figinterest andshares assu

ents

n ('LTIP') prohe Board ma. Each awarcipant.

or year

o shares issu

wners of Top

ares used in c

ares used in c

are not includ17. These op

by dividing tther than ordsted for bonu

ures used in other financumed to hav

ogram has bay grant optiord granted re

49

ued in the pr

pBetta Holdin

calculating b

calculating d

ded in the captions could

the profit attdinary shareus elements

n the determcing costs asve been issu

been establisons and/or pepresents a

rior year.

ngs Limited

basic earning

diluted earnin

alculation of potentially d

tributable to es, by the wein ordinary s

mination of bassociated wiued for no c

shed by the performance right to rece

gs per share

ngs per share

diluted earnidilute basic e

the ownerseighted aver

shares issued

asic earningsith dilutive poconsideration

group. Subjerights (optio

eive one sha

C 2017 $ 75 75

C 2017 $ (7,618

Numb 119,096

e 119,096

Cents ( (

ngs per shaarnings per s

s of TopBettrage numberd during the

s per share totential ordinn in relation

ect to the Aons with a zeare once the

onsolidated7 20

- -

5,000

5,000 1

onsolidated7 20

8,257) (4,5

ber Num

6,279 80,4

6,279 80,4

s Ce

(6.40)(6.40)

re because tshare in the

a Holdings r of ordinaryfinancial yea

to take into nary shares to dilutive p

SX listing ruro exercise paward vests

d016$

65,000 44,732 49,100

158,832

d016$

537,525)

mber

416,379

416,379

ents

(5.64)(5.64)

they are future.

Limited, y shares ar.

account and the

potential

ules and price) to s and is

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TopBNotes30 Ju

Note 3 Set ou 2017 Grant 12/1112/1112/1128/0730/1130/1116/0314/06 2016 Grant 12/1112/1112/11 * S

Aws

The w The w(2016 For thgrant Grant 12/1112/1112/1128/0730/1130/1116/0314/06 AccouEquityawardothers


33. Share-b

ut below are

t date E

/2015 1/2015 1/2015 1

7/2016 2/2016 3/2016 3

3/2017 16/2017 1

t date E

/2015 1/2015 1/2015 1

Shares grantASX listing rwith a zero eshare once th

weighted ave

weighted ave: 3.9 years).

he options grdate, are as

t date E

/2015 1/2015 1/2015 1

7/2016 2/2016 3/2016 3

3/2017 16/2017 1

unting policy y-settled shads of shares,s as part of th


ased payme

summaries o

Expiry date

2/11/2018 2/11/2018 2/11/2020

21/03/2019 30/11/2019 30/11/2019 6/03/2018 4/06/2020

Expiry date

2/11/2018 2/11/2018 2/11/2020

ted under therules and unexercise priche award ve

rage share p

erage remain

ranted duringfollows:

Expiry date

2/11/2018 2/11/2020 2/11/2020

21/03/2019 30/11/2019 30/11/2019 6/03/2018 4/06/2020

for share-baare-based co or options oheir compen

ments

ents (contin

of options gr

Exerc price $ $ $ $ $ $ $ $

Exerc price $ $ $

e Long Termnder the termce) to eligiblests and is ex

price was $0.

ning contrac

g the current

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ased paymenmpensation over shares, sation for se

ued)

ranted under

Balaise the se the

$0.20 5,0$0.20 5,0$0.25 16,6$0.25 $0.30 $0.25 $0.30 $0.20

26,6

Balaise the se the

$0.20 $0.20 $0.25

m Incentive Pms of the LTe participantxercised by th

.24 (2016: $0

tual life of o

financial yea

price Exedate p

$0.20 $0.00$0.00$0.19 $0.20 $0.20 $0.11 $0.20

nts benefits are that are pro

ervices.

50

r the plan:

ance at start of

e year

000,000 000,000 667,000

-----

667,000 1

ance at start of

e year

--- 1- 2

Plan (LTIP), wIP, the Boarts (‘awards’)he relevant p

0.19).

options outst

ar, the valua

ercise Eprice

$0.20 $0.25 $0.25 $0.25 $0.30 $0.25 $0.30 $0.20

provided to vided to emp

Granted

---

2,000,000 1,000,000 3,000,000 4,500,000 2,000,000

12,500,000

Granted

5,000,000 5,000,000

16,667,000 26,667,000

which has berd may grant. Each awarparticipant.

tanding at th

ation model in

Expected volatility

45.00% 45.00% 45.00% 45.00% 41.70% 41.70% 41.70% 41.70%

employees aployees in ex

Exercised

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een establisht options andrd granted re

he end of the

nputs used t

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- - - - - - - -

and advisersxchange for

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othe

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othe

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hed by the gd/or performepresents a

e financial y

to determine

Risk-fr interest 2. 2. 2. 1. 1. 1. 1. 1.

s. Equity-settthe renderin

ed/ Balaed/ the eer the

- 5,0- 5,0- 16,6- 2,0- 1,0- 3,0- 4,5- 2,0- 39,1

ed/ Balaed/ the eer the

- 5,0- 5,0- 16,6- 26,6

group. Subjeance rights right to rece

year was 2.3

the fair valu

ree Fair rate at gra

17% $17% $17% $96% $93% $93% $51% $66% $

tled transactng of services

ance at end of year

000,000 000,000 667,000 000,000 000,000 000,000 500,000 000,000 167,000

ance at end of year

000,000 000,000 667,000 667,000

ct to the(options

eive one

35 years

ue at the

value ant date

$0.0650 $0.0470 $0.0200 $0.0145 $0.0339 $0.0450 $0.0002 $0.0600

ions are s and to

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TopBNotes30 Ju

Note 3 The ceach accouvolatiltogethemplo The cvestinbest erecogrecog Markeare cosatisfi If equAn advalue If the canceany re If equexpennew a Note 3 On 3 incentwhich On 21offerin On 14offerin No otthe gr


33. Share-b

ost of equityoption gran

unt the exercity of the un

her with nonoyees to rece

cost of equityng period. Thestimate of tnised in profnised in prev

et conditions onsidered to ed.

ity-settled awdditional expof the share

non-vesting ellation. If theemaining exp

uity-settled anse is recognaward is treat

34. Events a

July 2017, tive plan with are subject


4 August 20ngs into the U

her matter oroup's operat


ased payme

y-settled transted using e

cise price, thnderlying shan-vesting coeive paymen

y-settled tranhe cumulativthe number ofit or loss forvious periods

are taken invest irrespe

wards are mense is reco-based comp

condition is e condition ispense for the

awards are cnised immedted as if they

after the rep

the companh an exerciseto various em

the companK market.

017, the comUS market.

or circumstantions, the res

ments

ents (contin

sactions are ither the Bine term of theare, the expnditions that. No accoun

nsactions are charge to of awards thr the period is.

nto consideraective of whe

modified, as aognised, ovepensation be

within the cos not within the award is rec

cancelled, it diately. If a ny were a mod

porting perio

ny issued 2,e price of $0mployment a

ny also anno

mpany annou

nce has arisesults of those

ued)

measured anomial or Be option, thepected dividet do not de

nt is taken of

re recogniseprofit or los

hat are likelys the cumula

ation in deterether or not th

a minimum aer the remainenefit as at th

ontrol of the he control of cognised ove

is treated aew replacemdification.

od

954,681 opt0.30 and an and performa

unced it had

unced it had

en since 30 e operations,

51

at fair value olack-Scholes

e impact of dend yield anetermine whef any other ve

d as an exps is calculate

y to vest andative amount

rmining fair vhat market c

an expense ining vestinghe date of mo

group or emthe group o

er the remain

as if it has vment award is

tions to varioexpiry date o

ance-related

d received a

d received a

June 2017 t or the group

on grant dates option pricdilution, the snd the risk frether the gresting condit

pense with aed based ond the expiredt calculated a

value. Therefcondition has

is recognisedperiod, for aodification.

mployee, the fr employee aning vesting

vested on ths substituted

ous key emof 31 Octobevesting cond

licence to of

a licence to

that has signp's state of a

e. Fair value cing model, share price aree interest roup receivetions.

a correspondn the grant dd portion of at each repo

fore any awas been met,

d as if the many modifica

failure to satand is not saperiod, unles

he date of cd for the can

ployees purer 2020. Theditions.

ffer The Glo

offer The G

nificantly affeaffairs in futur

is independas appropri

at grant date rate for the

es the servi

ding increasedate fair valuthe vesting

orting date le

ards subject tprovided all

modification hation that inc

tisfy the condatisfied duringss the award

cancellation, celled award

rsuant to thee options com

bal Tote and

Global Tote

ected, or mare financial y

ently determate, that takand expecteterm of the

ces that en

e in equity oue of the awperiod. The

ess amounts

to market coother conditi

has not beencreases the t

dition is treatg the vestingd is forfeited.

and any red, the cance

e group’s lomprise two t

d the TopBet

and TopBet

ay significantyears.

mined for kes into ed price

e option, title the

over the ward, the

amount already

onditions ions are

n made. total fair

ted as a g period,

maining lled and

ng term ranches

tta retail

tta retail

ly affect

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TopBDirect30 Ju

In the ● t

C ● t

I ● t

2 ● t

a The d Signe On be _____NichoChair 15 AuSydne

etta Holdingtors' declarane 2017

directors' op

the attachedCorporations

the attached nternational

the attached2017 and of

there are reaand payable.

irectors have

d in accorda

ehalf of the d

__________olas Chan rman

ugust 2017 ey

gs Limited ation

pinion:

financial stas Regulations

financial staAccounting

financial staits performan

asonable gro.

e been given

ance with a re

irectors

___________

atements ans 2001 and o

atements andStandards B

atements annce for the fi

ounds to belie

n the declara

esolution of d

____

nd notes comother mandat

d notes compBoard as des

d notes givenancial year

eve that the

tions require

directors ma

52

mply with thetory professi

ply with Intercribed in not

e a true and r ended on th

company wi

ed by section

de pursuant

____ToddDirec

e Corporationonal reportin

rnational Finte 2 to the fin

fair view of hat date; and

ll be able to

n 295A of the

to section 29

___________d Buckinghamctor

ns Act 2001ng requireme

ancial Reponancial statem

the group's d

pay its debts

e Corporation

95(5)(a) of th

__________m

, the Accounents;

rting Standaments;

financial po

s as and whe

ns Act 2001.

he Corporatio

_____

nting Standa

rds as issue

sition as at

en they beco

ons Act 2001

ards, the

d by the

30 June

ome due

1.

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INDEPENDENT AUDITOR’S REPORT

TO THE MEMBERS OF TOPBETTA HOLDINGS LIMITED Report on the Financial Report Opinion We have audited the accompanying financial report of TopBetta Holdings Limited (the company), which comprises the consolidated statement of financial position as at 30 June 2017, the consolidated statement of profit or loss and other comprehensive income, the consolidated statement of changes in equity and the consolidated statement of cash flows for the year then ended, notes comprising a summary of significant accounting policies and other explanatory information, and the directors’ declaration of the company and the consolidated entity comprising the company and the entities it controlled at the year’s end or from time to time during the financial year.

In our opinion, the financial report of TopBetta Holdings Limited is in accordance with the Corporations Act 2001, including:

i) Giving a true and fair view of the consolidated entity’s financial position as at 30 June 2017 and of its performance for the year ended on that date; and

ii) Complying with Australian Accounting Standards and the Corporations Regulations 2001. Basis for Opinion We conducted our audit in accordance with Australian Auditing Standards. Those Standards require that we comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance about whether the financial report is free from material misstatement. Our responsibilities under those Standards are further described in the Auditor’s Responsibility section of our report.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Independence We are independent of the consolidated entity in accordance with the Corporations Act 2001 and the ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants (the code) that are relevant to our audit of the financial report in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code.

Key Audit Matters Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the financial report of the current period. These matters were addressed in the context of our audit of the financial report as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. For each matter below, our description of how our audit addressed the matter is provided in that context.

53

PKF(NS) Audit & Assurance Limited Partnership is a member firm of the PKF International Limited family of legally independent firms and does not accept any responsibility or liability for the actions or inactions of any individual member or correspondent firm or firms.For office locations visit www.pkf.com.au

Sydney

Level 8, 1 O’Connell StreetSydney NSW 2000 Australia GPO Box 5446 Sydney NSW 2001

p +61 2 8346 6000 f +61 2 8346 6099

PKF(NS) Audit & Assurance Limited PartnershipABN 91 850 861 839

Liability limited by a scheme approved under Professional Standards Legislation

Newcastle

755 Hunter Street Newcastle West NSW 2302 Australia PO Box 2368 Dangar NSW 2309

p +61 2 4962 2688 f +61 2 4962 3245

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54

Key Audit Matters (cont’d)

1. Impairment testing of goodwill and other intangible assets

Why significant How our audit addressed the key audit matter As disclosed in note 12, the Group has goodwill and other intangible assets of $5.8m as at 30 June 2017.

At the end of each reporting period, the Group is required to determine whether there is any indication that the intangible assets are impaired under Australian Accounting Standard (AASB) 136 Impairment of Assets.

An asset is considered impaired if its carrying value is greater than its recoverable amount. The Group uses the “value-in-use” methodology in determining the recoverable amount which measures the present value of future cashflows expected to be derived from these assets.

The evaluation of the recoverable amount requires the Group to exercise significant judgment in determining key assumptions, which include:

• 5-year cash flow forecast;

• Terminal growth factor; and

• Discount rate.

The outcome of the impairment assessment could vary if different assumptions were applied. As a result, the evaluation of the recoverable amount of intangible assets including goodwill is a Key Audit Matter.

As part of our procedures we assessed the Group’s determination of Cash Generating Units (CGUs). Our procedures included but were not limited to:

• to assessing and challenging:

o the assumptions supporting the number of cash generating units being appropriate;

o the accuracy of the FY18 budget approved by the Board by comparing the budget to FY17 actuals;

o the assumptions used for the future growth rate by comparing normalised average growth rate from FY16 to FY17 to the growth rate adopted in the impairment model;

o the key assumptions for long term growth in the forecast cash flows by comparing them to historical results and industry forecasts; and

o the discount rate applied by comparing the Weighted

Average Cost of Capital to industry benchmarks.

• testing, on a sample basis, the mathematical accuracy of the cash flow models;

• agreeing inputs in the cash flow models to relevant data including approved budgets and latest forecasts;

• reviewing management’s sensitivity analysis in relation to key assumptions including discount rate, growth rate and terminal value; and

• we assessed the appropriateness of the disclosures including those relating to sensitivities in the assumptions used, included in Note 12.

Based on these procedures, goodwill relating to the content business was considered impaired during the financial year and an impairment expense of $1.8m was duly recorded.

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55

Key Audit Matters (cont’d) 2. Acquisition of Mad Bookie business

Why significant How our audit addressed the key audit matter The Group entered into an agreement with Mad Bookie Pty Ltd on 1 May 2017 to acquire the Mad Bookie business.

The consideration payable by the Group consisted of an upfront payment of $100,000 and deferred consideration dependent on net gaming revenue derived in the first 12 months after acquisition.

AASB 3 Business Combinations requires the Group to recognise and measure the fair value of the assets acquired and the liabilities assumed with any resulting goodwill resulting from the Mad Bookie transaction.

The assessment of consideration payable and the fair value of assets and liabilities assumed could vary if different assumptions were applied.

This transaction is material to the understanding of the 30 June 2017 financial statements and accordingly is considered to be a Key Audit Matter.

Our procedures included but were not limited to:

• reviewing the contract for sale and confirming the acquisition date, the identification of an acquirer and the entity being acquired under AASB 3;

• assessing and challenging:

o the assumptions used to assess fair value of the assets acquired and liabilities assumed;

o the assumptions used to estimate the consideration payable;

• ensuring goodwill and other intangibles have been correctly calculated;

We have also assessed the appropriateness of the discourses included in Note 28 in respect of the business acquisition.

3. Recognition and Valuation of Deferred Tax Assets

Why significant How our audit addressed the key audit matter As disclosed in Note 13 of the financial report, at 30 June 2017 the Group has recorded a deferred tax asset of $3.602m relating to deductible temporary differences and tax losses incurred.

As noted in Note 3 of the financial report, deferred tax assets are only recognised if the Group considers it probable that future taxable income will be generated to utilise these temporary differences and losses.

Significant judgement is required in forecasting future taxable income.

Based on the above, we have considered the recognition and valuation of deferred tax assets to be a Key Audit Matter.

We have assessed and challenged management’s judgements relating to the Group’s forecasts and the ability to generate future taxable income, and also the recognition criteria under AASB 112.

Our procedures included but were not limited to:

• ensuring the consistency of these forecasts to the Board approved budget used in the impairment testing;

• the reasonableness of key assumptions used in the forecasts with respect to income and expenditure;

• testing, on a sample basis, the mathematical

accuracy of the cash flow models; • reviewing the nature of the deferred tax asset

(i.e. temporary differences or revenue / capital losses) and its probability of being realised.

We have also assessed the appropriateness of the disclosures included in Note 13 in respect of the deferred tax balances.

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Key Audit Matters (cont’d)

4. Regulatory Compliance

Why significant How our audit addressed the key audit matter The Group operates in a highly regulated environment and holds a bookmaker licence in the Northern Territory, Australia (issued 11 August 2016) and an eGambling license in Alderney, United Kingdom (issued 3 November 2016).

Each licence has terms and conditions and reporting requirements. Compliance with these requirements is critical for the Group’s operations as the suspension or cancellation of these licences would have a material adverse impact on its ability to operate.

Based on the above, we have considered compliance with the licenses to be a Key Audit Matter.

We have reviewed the following in relation to the licences:

• the terms and conditions associated with both the NT and Alderney license;

• held discussions with management to assess compliance procedures;

• reviewed on a sample basis, the reporting documentation submitted to regulators and information prepared by management as reported to the Board;

• reviewed correspondence with the licencing authorities to ensure that any potential complaints or issues have been managed in a timely manner; and

• obtained a solicitors’ representation letters to ensure that there are no ongoing legal matters.

5. Acquisition of License

Why significant How our audit addressed the key audit matter On the 24 May 2017, the Group entered into an agreement with MWS Pty Limited and Live Data Datacast Pty Limited to acquire a perpetual and irrevocable software license.

The consideration paid by the Group was $1,010,315 which included the issuance of 3.5m Topbetta shares.

In accordance with AASB 138 Intangible Assets, the license has been capitalised as an intangible asset as disclosed in Note 12.

AASB 138 requires the amortisation of the license over its useful life. Management have estimated the useful life of the asset to be five years in consideration of the license’s nature.

This transaction is material to the understanding of the 30 June 2017 financial statements and accordingly is considered to be a Key Audit Matter.

We have reviewed the following in relation to the licence acquisition:

• Obtained and reviewed the contract regarding the license;

• Assessed and challenged management’s judgements regarding the quantum of consideration paid and ensure this has been appropriately capitalised;

• Assessed and challenged management’s judgements regarding the asset’s useful life;

• Ensured an appropriate level of amortisation expense was recorded in the year ended 30 June 2017.

We have also assessed the appropriateness of the related disclosures in Note 12.

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Key Audit Matters (cont’d) 6. Funding & Liquidity

Why significant How our audit addressed the key audit matter While the Group recorded cash at bank at 30 June 2017 of $3,267,188, the Group’s net cash outflows from operating activities totalled $6,132,317 for the year then ended. The Group has also disclosed in note 2 (Going Concern) that further capital may be required to meet the Group’s near and long-term plans. The going concern assumption is pervasive to the preparation of the 30 June 2017 financial statements and accordingly is considered to be a Key Audit Matter.

We evaluated the Group’s funding and liquidity position at 30 June 2017 and the ability of the Group to repay its debts as and when they fall due for a minimum of 12 months from the date of signing the financial report.

In order to assess the funding and liquidity position, we:

o reviewed the process undertaken to determine the appropriateness of the use of the going concern basis;

o reviewed Board approved forecasts; o reviewed the funding plan for the Group to achieve

its future operational and program development needs; and

o obtained external confirmation of the Group’s cash

and short-term deposits.

Other Information Other information is financial and non-financial information in the annual report of the Group which is provided in addition to the Financial Report and the Auditor’s Report. The directors are responsible for Other Information in the annual report.

The Other Information we obtained prior to the date of this Auditor’s Report was the Director’s report. The remaining Other Information is expected to be made available to us after the date of the Auditor’s Report.

Our opinion on the Financial Report does not cover the Other Information and, accordingly, the auditor does not and will not express an audit opinion or any form of assurance conclusion thereon, with the exception of the Remuneration Report.

In connection with our audit of the Financial Report, our responsibility is to read the Other Information. In doing so, we consider whether the Other Information is materially inconsistent with the Financial Report or our knowledge obtained in the audit, or otherwise appears to be materially misstated.

We are required to report if we conclude that there is a material misstatement of this Other Information in the Financial Report and based on the work we have performed on the Other Information that we obtained prior the date of this Auditor’s Report we have nothing to report.

Directors’ Responsibilities for the Financial Report The Directors of the company are responsible for the preparation of the financial report that gives a true and fair view in accordance with Australian Accounting Standards and the Corporations Act 2001 and for such internal control as the Directors determine is necessary to enable the preparation of the financial report that gives a true and fair view and is free from material misstatement, whether due to fraud or error.

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Directors’ Responsibilities for the Financial Report (cont’d) In Note 1, the Directors also state, in accordance with Australian Accounting Standard AASB 101 Presentation of Financial Statements, that the financial report complies with International Financial Reporting Standards.

In preparing the financial report, the Directors are responsible for assessing the consolidated entity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using a going concern basis of accounting unless the Directors either intend to liquidate the consolidated entity or to cease operations, or have no realistic alternative but to do so.

Auditor’s Responsibilities for the Audit of the Financial Report Our responsibility is to express an opinion on the financial report based on our audit. Our objectives are to obtain reasonable assurance about whether the financial report as a whole is free from material misstatement, whether due to fraud or error, and to issue and auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with Australian Auditing Standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individual or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this financial report.

As part of an audit in accordance with Australian Auditing Standards, we exercise professional judgement and maintain professional scepticism throughout the audit.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial report.

The procedures selected depend on the auditor’s judgement, including assessment of the risks of material misstatement of the financial report, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation of the financial report that gives a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control.

The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Directors, as well as evaluating the overall presentation of the financial report.

We conclude on the appropriateness of the Directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the consolidated entity’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial report or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the consolidated entity to cease to continue as a going concern.

We evaluate the overall presentation, structure and content of the financial report, including the disclosures, and whether the financial report represents the underlying transactions and events in a manner that achieves fair presentation.

We obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the consolidated entity to express an opinion on the financial report. We are responsible for the direction, supervision and performance of the audit. We remain solely responsible for our audit opinion.

We communicate with the Directors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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Auditor’s Responsibilities for the Audit of the Financial Report (cont’d) The Auditing Standards require that we comply with relevant ethical requirements relating to audit engagements. We also provide the Directors with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

From the matters communicated with the Directors, we determine those matters that were of most significance in the audit of the financial report of the current period and are therefore key audit matters. We describe these matters in our auditor’s report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

Report on the Remuneration Report Opinion We have audited the Remuneration Report included in the directors’ report for the year ended 30 June 2017.

In our opinion, the Remuneration Report of Topbetta Holdings Limited for the year ended 30 June 2017, complies with section 300A of the Corporations Act 2001.

Responsibilities The directors of the Company are responsible for the preparation and presentation of the Remuneration Report in accordance with section 300A of the Corporations Act 2001. Our responsibility is to express an opinion on the Remuneration Report, based on our audit conducted in accordance with Australian Auditing Standards.

PKF MARTIN MATTHEWS PARTNER 15 AUGUST 2017 NEWCASTLE, NSW

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