Urbanise.com Annual Report 2019

Annual Report 2019 Urbanise.com Limited 20. Commitments The Group has entered into the following property leases arrangements each of which are the contractual non- cancellable lease period, excluding any potential extension options: i. A 5 year lease for office space in Melbourne, which terminates on 21 May 2020; ii. A 1 year lease for office space in Dubai, which terminates on 1 January 2020; iii. A 3 year lease for office space in Brisbane, which terminates on 15 April 2022; iv. A 5 year lease for office space in Sydney, which terminates on 30 November 2022; and v. A 1 year lease for office space for Mystrata Middle East FZ LLC in Dubai, which terminates on 4 January 2020. There are no contingent rents. The following obligations relating to the leases are not provided for in the financial report, and are payable, which exclude optional extension periods: 2019 $ 2018 $ Not longer than 1 year 274,923 333,760 Longer than 1 year and not longer than 5 years 243,158 389,675 Balance at end of year 518,081 723,435 21. Subsidiaries The parent entity of the Group is Urbanise.com Limited, which has the subsidiaries detailed in the following table. Ownership interest Country of incorporation 2019 % 2018 % Parent entity Urbanise.com Limited Australia Subsidiaries Urbanise.com (SEA) Pte Limited Singapore 100 100 Mystrata Pty Limited Australia 100 100 Mystrata Holdings Pty Limited Australia 100 100 Mystrata Middle East FZ LLC United Arab Emirates 100 100 Urbanise.com Limited (Branch) United Arab Emirates 100 100 Urbanise com (Pty) Limited South Africa 100 100 During FY2018, Urbanise.com (MENA) Pty Limited, a dormant company, was deregistered effective 27 December 2017. Urbanise DWC LLC was converted to Urbanise.com Limited (Branch), a branch of the Company, effective 11 November 2017. The Group has no significant restrictions on its ability to access or use the assets and settle the liabilities of the group. Notes to the Consolidated Financial Statements for the year ended 30 June 2019 (continued) 70