Both companies were treated differently. The value of the C4V stake was recognised as a non current asset (FVOIC) and that amount of $15m+ was written down to zero.
Im3NY financial position was consolidated within Magnis figures and these have all now been deconsolidated. Any assets of Im3Ny have been removed along with the debts. Im3Ny was in a negative equity position so removal of it's figures has improved MNS balance sheet and created a paper profit!
The balance sheet now carries no value for share of Im3NY.
Ann: HY24 Directors' Report and Financial Statements, page-34
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