0001558370-21-013149 | 20-F | XBRL Viewer

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Document and Entity Information	12 Months Ended
Document and Entity Information	Jun. 30, 2021 shares
Entity Listings [Line Items]
Entity Registrant Name	IBEX Ltd
Entity Central Index Key	0001720420
Current Fiscal Year End Date	--06-30
Document Period End Date	Jun. 30, 2021
Document Type	20-F
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Entity File Number	001-38442
Title of 12(b) Security	Common shares
Trading Symbol	IBEX
Security Exchange Name	NASDAQ
Entity Filer Category	Non-accelerated Filer
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding	18,399,063
Entity Incorporation, State or Country Code	D0
Entity Address, Address Line One	Crawford House
Entity Address, Address Line Two	50 Cedar Avenue
Entity Address, City or Town	Hamilton
Entity Address, Country	BM
Entity Address, Postal Zip Code	HM11
ICFR Auditor Attestation Flag	false
Document Accounting Standard	International Financial Reporting Standards
Business Contact [Member]
Entity Listings [Line Items]
Entity Address, Address Line One	1700 Pennsylvania Avenue NW
Entity Address, Address Line Two	Suite 560
Entity Address, City or Town	DC
Entity Address, State or Province	WA
Entity Address, Postal Zip Code	20006
City Area Code	202
Local Phone Number	580-6200
Contact Personnel Name	Robert Dechant

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Current assets
Cash and cash equivalents	$ 57,842	$ 21,870
Trade and other receivables	81,104	62,579
Due from related parties	1,755	1,587
Warrant asset	673
Total current assets	141,374	86,036
Non-current assets
Property and equipment	106,703	84,588
Goodwill	11,832	11,832
Other intangible assets	3,209	2,781
Warrant asset	1,420	2,611
Investment in joint venture	258	331
Deferred tax asset	4,252	2,223
Other assets	5,239	4,834
Total non-current assets	132,913	109,200
Total assets	274,287	195,236
Current liabilities
Trade and other payables	54,863	53,213
Deferred revenue	4,077	3,470
Lease liabilities	12,121	12,668
Borrowings	26,716	27,476
Due to related parties	4,275	5,739
Income tax payable	3,663	3,087
Total current liabilities	105,715	105,653
Non-current liabilities
Deferred revenue	3,010	434
Lease liabilities	71,878	62,044
Borrowings	1,801	3,782
Deferred tax liability	86	117
Other non-current liabilities	11,138	7,058
Total non-current liabilities	87,913	73,435
Total liabilities	193,628	179,088
Equity attributable to owners of the parent
Share capital	2	12
Additional paid-in capital	158,157	96,207
Other reserves	33,180	29,456
Accumulated deficit	(110,680)	(109,527)
Total equity	80,659	16,148
Total liabilities and equity	$ 274,287	$ 195,236

Consolidated Statements of Profit or Loss and Other Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Consolidated Statements of Profit or Loss and Other Comprehensive Income (Loss) [Abstract]
Revenue	$ 443,662	$ 405,135	$ 368,380
Payroll and related costs	296,799	276,255	254,592
Share-based payments	4,521	359	4,087
Reseller commission and lead expenses	13,749	17,328	27,877
Depreciation and amortization	28,197	24,472	20,895
Fair value measurement of share warrants	9,732	3,138	(364)
Other operating costs	76,865	64,070	54,488
Income from operations	13,799	19,513	6,805
Finance expenses	(9,034)	(9,428)	(7,709)
Income / (loss) before taxation, continuing operations	4,765	10,085	(904)
Income tax expense	(1,918)	(2,315)	(3,615)
Net income / (loss) for the year, continuing operations	2,847	7,770	(4,519)
Net income on discontinued operation, net of tax	0	0	15,484
Net income for the year	2,847	7,770	10,965
Item that will not be subsequently reclassified to profit or loss
Actuarial (loss) / gain on retirement benefits	(26)	(184)	109
Item that will be subsequently reclassified to profit or loss
Foreign currency translation adjustment	(122)	(248)	(316)
Cash flow hedge - changes in fair value	202	(518)	0
Other comprehensive income / (loss)	54	(950)	(207)
Total comprehensive income for the year	$ 2,901	$ 6,820	$ 10,758
Earnings / (loss) per share from continuing operations attributable to the ordinary equity holders of the parent
Basic earnings per share (in dollars per share)	$ 0.16	$ 0	$ 0
Diluted earnings / (loss) per share (in dollars per share)	0.15	0	(0.36)
Earnings per share attributable to the ordinary equity holders of the parent
Basic earnings per share (in dollars per share)	0.16	0	0
Diluted earnings per share (in dollars per share)	$ 0.15	$ 0	$ 0

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Issued, Subscribed and Paid in Capital, Share Capital [Member] IFRS 15 [Member]	Issued, Subscribed and Paid in Capital, Share Capital [Member]	Issued, Subscribed and Paid in Capital, Senior Preferred Shares [Member] IFRS 15 [Member]	Issued, Subscribed and Paid in Capital, Senior Preferred Shares [Member]	Issued, Subscribed and Paid in Capital, Additional Paid-in Capital [Member] IFRS 15 [Member]	Issued, Subscribed and Paid in Capital, Additional Paid-in Capital [Member]	Re-organization Reserve [Member] IFRS 15 [Member]	Re-organization Reserve [Member]	Share Options Plans [Member] IFRS 15 [Member]	Share Options Plans [Member]	Foreign Currency Translation Reserve [Member] IFRS 15 [Member]	Foreign Currency Translation Reserve [Member]	Others [Member] IFRS 15 [Member]	Others [Member]	Accumulated Deficit [Member] IFRS 15 [Member]	Accumulated Deficit [Member]	IFRS 15 [Member]	Total
Beginning balance (Previously Stated [Member]) at Jun. 30, 2018		$ 12		$ 20,000		$ 96,207		$ 21,280		$ 16,068		$ (528)		$ 975		$ (126,061)		$ 27,953
Beginning balance (Adjustment on Initial Adoption of IFRSs [Member]) at Jun. 30, 2018	$ 0		$ 0		$ 0		$ 0		$ 0		$ 0		$ 0		$ (2,080)		$ (2,080)
Beginning balance at Jun. 30, 2018		12		20,000		96,207		21,280		16,068		(528)		975		(128,141)		25,873
Comprehensive income for the year
Profit for the year		0		0		0		0		0		0		0		10,965		10,965
Other comprehensive income		0		0		0		0		0		(316)		109		0		(207)
Total comprehensive income for the year		0		0		0		0		0		(316)		109		10,965		10,758
Transactions with Owners
Redemption of senior preferred shares		0		(5,972)		0		0		0		0		0		0		(5,972)
Share-based transactions		0		0		0		0		5,563		0		0		0		5,563
Sale of subsidiary		0		(14,028)		0		(11,536)		(2,030)		0		0		0		(27,594)
Ending balance at Jun. 30, 2019		12		0		96,207		9,744		19,601		(844)		1,084		(117,176)		8,628
Comprehensive income for the year
Profit for the year		0		0		0		0		0		0		0		7,770		7,770
Other comprehensive income		0		0		0		0		0		(248)		(702)		0		(950)
Total comprehensive income for the year		0		0		0		0		0		(248)		(702)		7,770		6,820
Transactions with Owners
Repurchase of share-based transactions		0		0		0		83		(96)		0		0		0		(13)
Dividend distribution		0		0		0		0		0		0		0		(121)		(121)
Share-based transactions		0		0		0		0		834		0		0		0		834
Ending balance at Jun. 30, 2020		12		0		96,207		9,827		20,339		(1,092)		382		(109,527)		16,148
Comprehensive income for the year
Profit for the year		0		0		0		0		0		0		0		2,847		2,847
Other comprehensive income		0		0		0		0		0		(122)		176		0		54
Total comprehensive income for the year		0		0		0		0		0		(122)		176		2,847		2,901
Transactions with Owners
(Redemption) / issue of ordinary shares		(10)		0		61,922		0		0		0		0		0		61,912
Share options exercised		0		0		28		0		0		0		0		0		28
Dividend distribution		0		0		0		0		0		0		0		(4,000)		(4,000)
Share-based transactions		0		0		0		0		3,670		0		0		0		3,670
Ending balance at Jun. 30, 2021		$ 2		$ 0		$ 158,157		$ 9,827		$ 24,009		$ (1,214)		$ 558		$ (110,680)		$ 80,659

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES
Income before taxation	$ 4,765	$ 10,085	$ 19,410
Adjustments for:
Depreciation and amortization	28,197	24,472	21,805
Amortization of warrant asset	517	705	643
Foreign currency translation loss / (gain)	198	(195)	78
Fair value measurement of share warrants	9,732	3,138	(364)
Phantom stock expense	851	(31)	(300)
Share-based payments	3,670	390	5,262
Allowance of expected credit losses	291	224	343
Share of profit from investment in joint venture	(577)	(534)	(351)
Gain on disposal of fixed assets		(10)	(140)
Gain on lease terminations	(923)
Provision for defined benefit scheme	228	121	129
Impairment of intangibles	0	777	163
Finance costs	9,034	9,429	13,383
(Increase) / decrease in trade and other receivables	(13,327)	9,042	(18,019)
Increase in renewal receivables			(35,022)
Increase in prepayments and other assets	(405)	(1,435)	(173)
(Decrease) / increase in trade and other payables and other liabilities	(1,655)	7,107	8,997
Cash inflow from operations	40,596	63,285	15,844
Interest paid	(9,034)	(9,429)	(13,054)
Income taxes paid	(5,665)	(2,137)	(588)
Net cash inflow from operating activities	25,897	51,719	2,202
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment	(19,360)	(4,283)	(5,612)
Purchase of other intangible assets	(1,463)	(982)	(622)
Return on investment from joint venture			96
Proceed from sale of assets			188
Cash adjustment from sale of subsidiary to parent company			(3,554)
Dividend received from joint venture	650	430	420
Net cash outflow from investing activities	(20,173)	(4,835)	(9,084)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from line of credit	116,026	127,567	168,674
Repayments of line of credit	(115,189)	(142,118)	(162,851)
Proceeds from borrowings	1,714	1,000	36,617
Repayment of borrowings	(11,080)	(8,033)	(6,081)
Repayment of related party loans	(1,614)		(1,200)
Net proceeds from initial public offering	63,107
Payment of listing related cost	(1,074)
Exercise of options	28
Principal payments on lease obligations	(17,489)	(12,162)	(10,535)
(Repayment) / proceeds private placement notes			(14,500)
Dividend distribution	(4,000)	(121)	(1,600)
Payment of senior preferred shares			(5,972)
Net cash inflow / (outflow) from financing activities	30,429	(33,867)	2,552
Effects of exchange rate difference on cash and cash equivalents	(181)	(20)	(316)
Net increase / (decrease) in cash and cash equivalents	35,972	12,997	(4,646)
Cash and cash equivalents at beginning of the year	21,870	8,873	13,519
Cash and cash equivalents at end of the year	57,842	21,870	8,873
Non-cash items
Leases	31,790	24,295	89,771
Issuance of warrants			(150)
Actuarial gain on defined benefit scheme	$ 26	$ 184	(109)
Sale of subsidiary			$ 27,594

THE GROUP AND ITS OPERATIONS

12 Months Ended

Jun. 30, 2021

THE GROUP AND ITS OPERATIONS [Abstract]

THE GROUP AND ITS OPERATIONS

1. THE GROUP AND ITS OPERATIONS

IBEX Holdings Limited “the Holding Company”, was incorporated on February 28, 2017 and changed its name to IBEX Limited on September 11, 2019. IBEX Limited is hereinafter also referred to as “the Holding Company”. The registered office of the Holding Company is situated at Crawford House, 50 Cedar Avenue, Hamilton HM 11, Bermuda, which is also the principal place of business of the Holding Company. “The Group” or the “Company” refers to the Holding Company and its subsidiaries. The Holding Company is controlled by and majority owned by The Resource Group International Limited (“TRGI”) (the “Controlling Shareholder”), of which TRG Pakistan Limited holds a majority interest in TRGI. On August 7, 2020, the Group was admitted to trade on the Nasdaq Global Market on the same date under the ticker symbol “IBEX”. These consolidated financial statements of the Holding Company as of June 30, 2021 and 2020 and for the years ended June 30, 2021, 2020 and 2019 (hereafter the financial year) comprise the financial statements of IBEX Limited and its subsidiaries.

The Group is a leading end-to-end provider of technology-enabled customer lifecycle experience (“CLX”) solutions. Through the Group’s integrated CLX platform, a comprehensive portfolio of solutions is offered to optimize customer acquisition, engagement, expansion and experience for clients. The Group leverages sophisticated technology and proprietary analytics, in combination with its global contact and delivery center footprint and business process outsourcing expertise, to protect and enhance clients’ brands. The Group manages over 100 million interactions each year with consumers on behalf of clients through an omni-channel approach, using voice, web, chat and email.

On June 26, 2019, the Holding Company transferred the shares of Etelequote Limited (ETQ) to the parent company TRGI. The disposal of ETQ is described in Note 30.2.

The financial position of the Group, its cash, liquidity position and borrowing facilities are described in Note 10, Note 22.3 and Note 13 respectively to the consolidated financial statements. In addition, Notes 22 and 24 to the consolidated financial statements include the Group’s objectives, policies and processes for managing its capital; financial risk management objectives; details of financial instruments; exposures to credit risk, market risks and liquidity risks.

Going Concern

For the year ended June 30, 2021, the Group has a net income of $2.8 million, net cash generated from operating activities of $25.9 million and an accumulated deficit of $110.7 million. Current assets exceed current liabilities by $35.7 million as of June 30, 2021 of which $26.7 million is associated with borrowings, including line of credit which was drawn to $22.3 million at June 30, 2021 (See Note 13.2). The Group has cash and cash equivalents of $57.8 million as of June 30, 2021.

The accompanying consolidated financial statements have been prepared assuming that the Group will continue as a going concern for at least a period of twelve months from the date of approval of these consolidated financial statements. This basis of accounting contemplates the recovery of the Group’s assets and the satisfaction of liabilities in the normal course of business.

The Company incurred non-recurring expenses of $8.3 million primarily in the form of transportation expenses for year ended June 30, 2021 due to the COVID-19 (the Pandemic). However, the Company believes that its liquidity and operating cash flow will be sufficient to absorb additional costs for a period of at least 12 months from date of approval of the consolidated financial statements. Refer to Note 24 for capital risk management and initial public offering (IPO) respectively.

The Group believes that the Pandemic presents both medium term risks and opportunities for our business. In terms of risks, any weakening of the economy could have an overall impact on the level of consumer demand for goods and services, with knock-on effect on the demand from consumer-facing businesses for customer support. On the other hand, our client base has a heavy preponderance of companies that either provide online services or are enablers of the online economy, and a prolongation of consumer online activity due to the Pandemic is likely to result in continued demand for services from our clients.

In August 2020, we detected a ransomware attack that briefly impacted a portion of our information technology systems. At no time did the attack impact our business operations or accounting systems, but the unauthorized access included the exfiltration of certain non-production data files from a file server in our backup data center. In conjunction with our containment activities, we launched an investigation, notified our insurance broker and carrier, and engaged an incident response team and cybersecurity forensics firm. Through the date of issuance of these financial statements, this incident has not had a material financial impact on our business, however we may incur losses associated with claims by third parties, as well as fines, penalties and other sanctions imposed by regulators relating to or arising from the incident, which could have a material adverse impact on our business, financial condition or results of operations in future periods.

The Group’s forecasts and projections, taking account of reasonably possible changes in trading performance, show that the Group should be able to operate within the level of its current monetary facilities and plans. Management therefore has a reasonable expectation that the Group has adequate resources to continue its operational existence for a period of at least twelve months from the date of approval of these consolidated financial statements. Thus, they continue to adopt the going concern basis of accounting in preparation of these consolidated financial statements.

The Group is comprised of the Holding Company and the following direct subsidiaries with the location (country of incorporation and principal place of business), nature of business and ownership percentage:


			Ownership %
Description	Location	Nature of Business	2021		2020
Subsidiaries
IBEX Global Limited	Bermuda	Holding Company	100	%	100	%
DGS Limited	Bermuda	Holding Company	100	%	100	%
iSky Inc.	Bermuda	Holding Company	100	%	100	%

Please refer to Note 30 for the indirect subsidiaries of the Holding Company.

BASIS OF PREPARATION

12 Months Ended

Jun. 30, 2021

BASIS OF PREPARATION [Abstract]

BASIS OF PREPARATION

2. BASIS OF PREPARATION

2.1. Statement of compliance

These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards, International Accounting Standards and Interpretations (IFRS), as issued by the International Accounting Standards Board (IASB).

The principal accounting policies applied in the preparation of the consolidated financial statements are set out below. These policies have been consistently applied to all of the years presented.

These consolidated financial statements do not include any information or disclosures that, not requiring presentation due to their qualitative significance, have been determined as immaterial or of no relevance

pursuant to the concepts of materiality or relevance defined in the IFRS conceptual framework, insofar as the Group’s consolidated financial statements, taken as a whole, are concerned. All amounts are presented in thousands of dollars, unless otherwise indicated, rounded to the nearest $1,000.

2.2. Basis of accounting and presentation

Through the Reorganization Transaction, which took place in April 2017, the Holding Company acquired from TRGI 100% ownership of IBEX Global Limited, Etelequote Limited, DGS Limited, iSky Inc. and various subsidiaries (listed above and in Note 30, - referred to as “the Continuing Business Entities”) and issued its shares to TRGI in exchange. Prior to the Reorganization Transaction, TRGI controlled each of the Continuing Business Entities by virtue of its controlling interests in the predecessors to IBEX Global Limited, Etelequote Limited, DGS Limited and iSky Inc., all of which now have become part of the Group, which is controlled by TRGI.

As common control transactions are outside the scope of IFRS 3 ‘Business Combinations’ the management has, as required by International Accounting Standard (IAS) 8 ‘Accounting Policies, Change in Accounting Estimates and Errors’, used its judgment in applying an accounting policy which reflects the economic substance of the transaction to account for the Continuing Business Entities.

The Group’s management considers the pooling of interest method of accounting to be appropriate to account for the combination of various subsidiaries controlled by TRGI with the Holding Company. As a result, the Holding Company and its subsidiaries are presented as if they have legally been a group of companies since TRGI controlled each entity.

On June 26, 2019, the Holding Company transferred the shares of Etelequote Limited (ETQ) to the parent company TRGI. The disposal of ETQ is described in Note 30.2.

2.3. Basis of measurement

The consolidated financial statements have been prepared on the basis of historical cost convention, except as otherwise disclosed, and assuming that the Group will continue as a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business.

Certain prior year amounts have been reclassified to conform to the current year presentation, including the notes to the financial statements, with no impact on previously reported net loss, financial position or cash flows.

2.4. Functional and presentation currency

As noted in Note 25.1, the Group generates approximately 97% of its revenue from clients based in the United States of America, which is denominated in United States Dollars (US$ or USD). However, the Group conducts transactions in multiple currencies to carry out its business in various other jurisdictions as needed. The consolidated financial statements are presented in US$, which is the Holding Company’s functional and presentation currency. Amounts are rounded to the nearest thousands of US$, unless otherwise stated.

Transactions denominated in foreign currencies are translated into USD at the exchange rate at the end of the previous month-end. Monetary items in the statement of financial position are translated at the closing rate at each reporting date and the relevant translation adjustments are recognized in the financial result.

2.5. Critical accounting estimates and judgments

These consolidated financial statements are prepared in conformity with IFRS as issued by the IASB, which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the periods. Accounting estimates require the use of significant management assumptions and judgments as to future events, and the effect of those events cannot be predicted with certainty. The accounting estimates will change as new events occur, more experience is acquired and more information is obtained. We evaluate and update our assumptions and estimates on an ongoing basis and use outside experts to assist in that evaluation when we deem necessary.

In the process of applying the Group’s accounting policies, management has made the following estimates and judgments which are significant to the consolidated financial statements:

Critical accounting estimates

●	Impairment of intangibles

Goodwill: The calculation for considering the impairment of the carrying amount of goodwill requires a comparison of the recoverable amount of the cash-generating units to which goodwill has been allocated, to the value of goodwill and the associated assets in the consolidated statement of financial position. The calculation of recoverable amount requires an estimate of the future cash flows expected to arise from the cash generating unit. Judgment is applied in selection of a suitable discount rate and terminal value. The key assumptions made in relation to the impairment of goodwill are set out in Note 4.

Indefinite Lived Intangibles (patent and trademarks): The indefinite lived intangibles are tested for impairment by comparing their carrying amount to the estimates of their fair value based on estimates of discounted cash flow method. In those instances where the carrying value of an asset exceeds its recoverable amount (i.e. the higher of value in use and fair value less costs to sell), the asset is written down accordingly. For more information see Note 5.

●	Impairment of financial assets

The Group applies the IFRS 9 simplified approach to measuring expected credit losses using a lifetime expected credit loss provision for trade receivables and contract assets. To measure expected credit losses on a collective basis, trade receivables and contract assets are grouped based on similar credit risk and aging. The contract assets have similar risk characteristics to the trade receivables for similar types of contracts. For more information see Note 22.2.

●	Depreciation and amortization

Estimation of useful lives of property and equipment and intangible assets: The Group estimates the useful lives of property and equipment and intangible assets based on the period over which the assets are expected to be available for use. The estimated useful lives of property and equipment and intangible assets are reviewed periodically and are updated if expectations differ from previous estimates due to physical wear and tear, technical or commercial obsolescence and legal or other limits on the use of the assets. For more information see Note 5 and 6.

•	Market value of common shares / fair market value of warrants

The Company is listed on a public marketplace (NASDAQ) as of June 30, 2021, the Company used the Black-Scholes valuation model to calculate the fair value of the share options/awards on the grant date and to calculate the fair value of warrants. The calculation of fair value includes the price per share, expected term, expected volatility, expected dividends and the risk-free interest rate.

As the Company was not listed on a public marketplace as of June 30, 2020, the calculation of the market value of its common shares is subject to a greater degree of estimation in determining the basis for any share awards that the Company may issue.

For purposes of determining the historical share-based compensation expense, the Company used the Monte Carlo simulation to calculate the fair value of the restricted stock awards (the “RSAs”) on the grant date as the Company was not listed on a public marketplace. The determination of the grant date fair value of the RSAs using a pricing model is affected by estimates and assumptions regarding a number of complex and subjective variables. These variables include the estimated fair value of the common shares, the expected price volatility of the common shares over the expected term of the RSAs and exercise and cancellation behaviors, each of which are estimated as follows:

●

Fair value of the Company’s common shares. As the Company’s common shares are not publicly traded as of June 30, 2020, the Company must estimate the fair value of the common shares, as discussed in “Valuations of Common Shares” below.

●

Volatility: Since there is no trading history for the Company’s common shares as of June 30, 2020, the expected price volatility for the common shares was estimated using the average historical volatility of the shares of our industry peers as of the grant date of the Company’s RSAs over a period of history commensurate with the expected life of the awards. To the extent that volatility of the share price increases in the future, the estimates of the fair value of the awards to be granted in the future could increase, thereby increasing share-based payment expense in future periods. When making the selection of the industry peers to be used in measuring implied volatility of the RSAs, the Company considered the similarity of their products and business lines, as well as their stage of development, size and financial leverage. The Company intends to continue to consistently apply this process using the same or similar public companies until a sufficient amount of historical information regarding the volatility of the Company’s own share price becomes available, or unless circumstances change such that the identified companies are no longer similar to the Company, in which case, more suitable companies whose share prices are publicly available would be utilized in the calculation.

●

Expected life of the RSAs: The Company calculated the weighted-average expected life of the RSAs to be four years based on management’s best estimates regarding the effect of vesting schedules. RSAs granted may not be sold, pledged, assigned, hypothecated, transferred or disposed of in any manner other than by will or by the laws of descent or distribution.

Valuations of Common Shares

Given the absence of an active market for the Company’s common shares as of June 30, 2020, the Company was required to estimate the fair value of its common shares at the time of each grant. The Company considered objective and subjective factors in determining the estimated fair value of its common shares on each RSA grant date. Factors considered by the Company included the following:

●

third-party valuations of the Company’s common shares;

●

the lack of marketability of Company’s common shares;

●

the Company’s historical and projected operating and financial performance;

●

the Company’s introduction of new services;

●

the Company’s stage of development;

●

the global economic outlook and its expected impact on the business;

●

the market performance of comparable companies; and

●

the likelihood of achieving a liquidity event for the common shares underlying the awards, such as an initial public offering or sale of the Company, given prevailing market conditions.

The Company determined valuations of its common shares for purposes of granting awards through a two-step valuation process described below. The Company first estimated the value of its equity. The Company utilized the income and market approaches to estimate its equity value. Then, the Company’s equity value was allocated across the Company’s various equity securities to arrive at a value for the common shares. The income approach, which relies on a discounted cash flow (“DCF”) analysis, measures the value of a company as the present value of its future economic benefits by applying an appropriate risk-adjusted discount rate to expected cash flows, based on forecasts of revenue and costs.

The Company used two forms of the market approach to determine a fair market value for its equity: (i) the guideline public company method (the “GPCM”), and (ii) the merger and acquisition method (the “MAM”).

The GPCM involves the review of pricing and performance information for public companies deemed generally similar to a subject company and subject to similar industry dynamics. The MAM consists of a review of transactions involving similar companies over the last five years. The valuation conclusion was based on the income approach (using DCF analysis), GPCM, and MAM. The Company assigned more weight to the DCF as it better reflected the Company’s operations and placed less weight to the GPCM and MAM. More specifically, less weight was assigned to the MAM as compared to the GPCM given the limited number of transactions involving comparable companies, which made the MAM less meaningful relative to the GPCM.

For each valuation report, the Company first prepared a financial forecast to be used in the computation of the enterprise value using the income approach. The financial forecasts took into account our past experience and future expectations. Second, the risks associated with achieving these forecasts were assessed in selecting the appropriate discount rate. There is inherent uncertainty in these estimates. Third, the Company allocated the resulting equity value among the securities that comprise our capital structure. The aggregate value of the common shares was then divided by the number of common shares outstanding to arrive at the per share value.

Since the fair value of the Company’s common shares has been determined partially by using the DCF analysis, the valuations have been heavily dependent on the Company estimates of revenue, costs and related cash flows. These estimates are highly subjective and may change frequently based on both new operating data as well as various macroeconomic conditions that impact the Company’s business. Each of the valuations was prepared using data that was consistent with the Company’s then-current operating plans that the Company was using to manage its business.

In addition, the DCF calculations are sensitive to highly subjective assumptions that the Company was required to make relating to its financial forecasts and the selection of an appropriate discount rate, which was based on the Company’s estimated cost of equity.

The Company’s discount rate was determined based on the stage of development at each valuation date and was quantified based on a risk-free discount rate for government debt, capital markets risk, the Company’s sector and size.

The Company granted 2,373,374 restricted share awards at a fair value of $0.61 per restricted common share in December 2018. The fair value of the restricted common shares was based on a Monte Carlo simulation, which can be considered a form of the probability weighted expected return method (“PWERM”), using an equity value as determined via the income approach (present value of discounted cash flows) and the market approaches (guideline public company method and mergers and acquisition method).

On December 22, 2018, the preference shares were entitled to an aggregate of $149.2 million in participating and non-participating preference. This amount was significantly higher than the fair value of the Company as determined by the Board of Directors as of November 30, 2018 on the basis of the independent valuation referred to in the previous paragraph. Because the common shares are not entitled to any distribution until the applicable preferences are satisfied, the fair value of the common shares was significantly lower than the fair value of the preference shares on November 30, 2018.

●	Legal provisions:

The Group reviews outstanding legal cases following developments in the legal proceedings and at each reporting date, in order to assess the need for provisions and disclosures in the audited consolidated financial statements. Among the factors considered in making decisions on provisions are the nature of litigation, claim or assessment, the legal process and potential level of damages in the jurisdiction in which the litigation, claim or assessment has been brought, the progress of the case (including the progress after the date of the audited consolidated financial statements but before those statements are issued), the opinions or views of legal advisers, experience on similar cases and any decision of the Group’s management as to how it will respond to the litigation, claim or assessment. Refer to Note 16.

Judgments

●

Leases:

In some cases, judgment may be required in determining whether a contract contains a lease. This assessment involves the exercise of judgment about whether it depends on specific lease, whether the Group obtains substantially all the economic benefits from the use of that asset and whether the Group has the right to direct the use of that asset. In addition, determining the lease term, the Group considers all facts and circumstances that create an economic incentive to exercise an extension option, or not exercise a termination option. Extension options (or periods after termination options) are only included in the lease term if the lease is reasonably certain (in accordance with lease contracts) to be extended (or not terminated).

The lease liability is measured at the present value of the lease payments discounted using the interest rate implicit in the lease. If the implicit rate cannot be readily determined, the Group uses an incremental borrowing rate specific to the country, term and currency of the contract.

●	Staff retirement plans:

The net defined benefit pension scheme assets or liabilities are recognized in the Group’s consolidated statement of financial position. The determination of the position requires assumptions to be made regarding future salary increases, mortality, discount rates and inflation. The key assumptions made in relation to the pension plans are set out in Note 14.1.

●	Share-based payments:

The share-based payments expense is recognized in the Group’s consolidated statement of profit or loss and comprehensive income. The key assumptions made in relation to the share-based payments are set out in Note 19.

●	Provision for taxation:

The Group is subject to income tax in several jurisdictions and significant judgment is required in determining the provision for current and deferred income taxes. During the ordinary course of business, there are transactions and calculations for which the ultimate tax determination is uncertain. As a result, the Company recognizes tax liabilities based on estimates of whether additional taxes and interest will be due. Although the Group believes that its tax positions are supportable, these tax positions could still be challenged by the tax authorities upon review. The Company believes that its accruals for tax liabilities are adequate for all open audit years based on its assessment of many factors including past experience and interpretations of tax law.

Management evaluates the recoverability of deferred income tax assets by assessing the adequacy of future expected taxable income from all sources, including reversal of taxable temporary differences, forecasted operating earnings and available tax planning strategies, which heavily rely on estimates.

This assessment relies on estimates and assumptions and may involve a series of complex judgments about future events. To the extent that the final tax outcome of these matters is different than the amounts recorded, such differences will impact current and deferred income tax expense in the period in which such determination is made.

The key assumptions made in relation to tax provisioning are set out in Note 18.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Jun. 30, 2021

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

3.1. Basis of consolidation

The consolidated financial statements present the results of the Holding Company and its subsidiaries as if they formed a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

Where the Company has control over an investee, it is classified as a subsidiary. The Company controls an investee if all three of the following elements are present:

●	power over the investee,

●	exposure to variable returns from the investee, and

●	the ability of the investor to use its power to affect those variable returns.

Control is reassessed whenever facts and circumstances indicate that there may be a change in any of these elements of control.

De-facto control exists in situations where the Company has the practical ability to direct the relevant activities of the investee without holding the majority of the voting rights. In determining whether de-facto control exists the Company considers all relevant facts and circumstances, including:

●	The size of the company’s voting rights relative to both the size and dispersion of other parties who hold voting rights

●	Substantive potential voting rights held by the Company and by other parties

●	Other contractual arrangements

●	Historic patterns in voting attendance

The consolidated financial statements incorporate the results of business combinations using the acquisition method. In the consolidated statement of financial position, the acquiree’s identifiable assets, liabilities and contingent liabilities are initially recognized at their fair values at the acquisition date. The results of acquired operations are included in the consolidated statement of profit or loss and other comprehensive income from the date on which control is obtained. They are deconsolidated from the date on which control ceases.

Joint arrangements

The Group is a party to a joint arrangement when there is a contractual arrangement that confers joint control over the relevant activities of the arrangement to the Group and at least one other party. Joint control is assessed under the same principles as control over subsidiaries.

The group classifies its interests in joint arrangements as either:

●	Joint ventures: where the Group has rights to only the net assets of the joint arrangement

●	Joint operations: where the Group has both the rights to assets and obligations for the liabilities of the joint arrangement.

In assessing the classification of interests in joint arrangements, the Group considers:

●	The structure of the joint arrangement

●	The legal form of joint arrangements structured through a separate vehicle

●	The contractual terms of the joint arrangement agreement

●	Any other facts and circumstances (including any other contractual arrangements).

Joint ventures are initially recognized in the consolidated statement of financial position at cost. Subsequently joint ventures are then accounted for using the equity method, where the Group’s share of post-acquisition profits and losses and other comprehensive income is recognized in the consolidated statement of profit or loss and other comprehensive income (except for losses in excess of the Group’s investment in the joint ventures unless there is an obligation to make good those losses).

Any premium paid for an investment in a joint venture above the fair value of the Group’s share of the identifiable assets, liabilities and contingent liabilities acquired is capitalized and included in the carrying amount of the

investment in joint venture. Where there is objective evidence that the investment in a joint venture has been impaired the carrying amount of the investment is tested for impairment in the same manner as other non-financial assets.

Unrealized gains on transactions between the Group and its joint ventures are eliminated to the extent of the Group’s interest in the joint ventures. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of the joint ventures have been changed where necessary to ensure consistency with the policies adopted by the Group.

Non-current assets (or disposal groups) held for sale and discontinued operations

Non-current assets (or disposal groups) are classified as held for sale if their carrying amount will be recovered principally through a sale transaction rather than through continuing use and a sale is considered highly probable. They are measured at the lower of their carrying amount and fair value less costs to sell, except for assets such as deferred tax assets, assets arising from employee benefits, financial assets and investment property that are carried at fair value and contractual rights under insurance contracts, which are specifically exempt from this requirement.

An impairment loss is recognized for any initial or subsequent write-down of the asset (or disposal group) to fair value less costs to sell. A gain is recognized for any subsequent increases in fair value less costs to sell of an asset (or disposal group), but not in excess of any cumulative impairment loss previously recognized. A gain or loss not previously recognized by the date of the sale of the non-current asset (or disposal group) is recognized at the date of derecognition. Non-current assets (including those that are part of a disposal group) are not depreciated or amortized while they are classified as held for sale. Interest and other expenses attributable to the liabilities of a disposal group classified as held for sale continue to be recognized. Non-current assets classified as held for sale and the assets of a disposal group classified as held for sale are presented separately from the other assets in the statement of financial position. The liabilities of a disposal group classified as held for sale are presented separately from other liabilities in the statement of financial position.

A discontinued operation is a component of the entity that has been disposed of or is classified as held for sale and that represents a separate major line of business or geographical area of operations, is part of a single coordinated plan to dispose of such a line of business or area of operations, or is a subsidiary acquired exclusively with a view to resale. The results of discontinued operations are presented separately in the statement of profit or loss. Refer to Note 30.2.

3.2. Property and equipment

Owned

Items of property, plant and equipment are initially recognized at cost. The initial cost of an item of property and equipment consists of its purchase price including import duties, taxes and directly attributable costs of bringing the asset to its working condition and location for the intended use. Additionally, any direct labor costs that is directly attributable to the development of software is capitalized.

Depreciation on assets under construction does not commence until they are complete and available for use. Depreciation is provided on all other items of property, plant and equipment so as to reduce their carrying value over their expected useful economic lives.

Depreciation on property and equipment is provided using the straight line method. A full month’s depreciation is charged in the month of addition, and no depreciation is charged in the month of disposal. Rates of depreciation are disclosed in Note 6 (property and equipment).


		Depreciation
Property and equipment	Useful economic life	method
Leasehold improvements	3 - 5 years or life of lease if less	Straight line
Furniture, fixture and office equipment	3 - 5 years	Straight line
Computer equipment	3 years	Straight line
Vehicles	5 years	Straight line
Right of Use Assets	expected term of lease	Straight line

The assets’ residual values, useful lives and methods of depreciation are reviewed at each financial year-end and adjusted prospectively, if appropriate.

Right of use assets and lease liabilities

The Group recognizes a right-of-use asset and a lease liability at the commencement date, except for short-term leases of 12 months or less and low value. Measurement of right-of-use assets and lease liabilities are as follows:

The lease liability is initially measured at the commencement date at the present value of the remaining lease payments using the incremental borrowing rate specific to the country, term and currency of the contract. The lease liability is subsequently measured at amortized cost using the effective interest rate method and re-measured (with a corresponding adjustment to the related ROU asset) when there is change in future lease payments in case of renegotiation, change of an index or rate or in case of reassessment of options.

At inception, the ROU asset comprises the initial lease liability, initial direct costs and the obligation to refurbish the asset, less any incentives granted by the lessors. The ROU asset is depreciated over the shorter of the lease term or the useful life of the underlying asset. The ROU asset is subject to testing for impairment if there is an indicator for impairment, as indicated in Note 3.4.

Payments associated with short-term leases and leases of low-value assets are recognized on a straight-line basis as an expense in profit or loss. Short-term leases are leases with a lease term of 12 months or less.

ROU assets are included in the heading Property and Equipment (see Note 6.2), the lease liability is shown separately as current and non-current in the statements of financial position, and interest on the lease liability is included in the heading Finance Expenses.

The gains and losses on disposal of assets or termination of right of use assets are recognized in the consolidated statement of profit or loss.

Right of use assets are transferred to owned assets when the Group makes early payment or when there is an option to exercise purchase option and the Group exercises it.

3.3. Intangible assets

3.3.1. Goodwill

Goodwill represents the excess of the cost of a business combination over the total acquisition date fair value of the identifiable assets, liabilities and contingent liabilities acquired.

Cost comprises the fair value of assets given, liabilities assumed and equity instruments issued, plus the amount of any non-controlling interests in the capital plus, if the business combination is achieved in stages, the fair value of the existing equity interest in the capital. Contingent consideration is included in cost at its acquisition date fair value and, in the case of contingent consideration classified as a financial liability, re-measured subsequently through the consolidated statement of profit or loss. Direct costs of acquisition are expensed immediately.

Goodwill is capitalized as an intangible asset with any impairment in carrying value being charged to the profit or loss. Where the fair value of identifiable assets, liabilities and contingent liabilities exceed the fair value of consideration paid, the excess is credited in full to the profit or loss on the acquisition date.

3.3.2. Other intangible assets

Externally acquired intangible assets are initially recognized at cost and subsequently amortized on a straight-line basis over their useful economic lives.

Intangible assets are recognized on business combinations if they are separable from the acquired entity or give rise to other contractual/legal rights. The amounts ascribed to such intangibles are arrived at by using appropriate valuation techniques.

Expenditure on internally developed products is capitalized if it can be demonstrated that:

●	it is technically feasible to develop the product for it to be sold

●	adequate resources are available to complete the development

●	there is an intention to complete and sell the product

●	the Group is able to sell the product

●	sale of the product will generate future economic benefits, and

●	expenditure on the project can be measured reliably

Capitalized development costs are amortized over the periods the Group expects to benefit from selling the products developed. The amortization expense is included within the “Depreciation and amortization” line in the profit or loss. Development expenditures not satisfying the above criteria and expenditures associated with the research phase of internal projects is charged out in the consolidated statements of profit or loss and other comprehensive income / (loss).

Trademarks and patents are capitalized at cost of acquisition and are not amortized but are tested for impairment annually. Trademarks and patents have an indefinite life on the grounds of the proven longevity of the trademarks or patents and the Group’s commitment to maintaining those trademarks or patents.

The significant intangibles recognized by the Group, their useful economic lives and the methods used to determine the cost of intangibles acquired in a business combination are as follows:


Intangible Asset	Useful economic life	Valuation method
Customer lists	5 - 6 years	Straight line
Software	3 - 5 years	Straight line

3.4. Impairment of non-financial assets

Goodwill and other intangibles:

Impairment tests on goodwill and other intangible assets with indefinite useful economic lives are undertaken annually at the financial year end. Additionally, these assets are subject to impairment tests whenever events or changes in circumstances which indicate that their carrying amount may not be recoverable. In those instances where the carrying value of an asset exceeds its recoverable amount (i.e. the higher of value in use and fair value less costs to sell), the asset is written down accordingly.

When it is not possible to estimate the recoverable amount of an individual asset, the impairment test is carried out on the smallest group of assets to which it belongs for which there are separately identifiable cash flows; its cash generating units (“CGUs”).

Goodwill is allocated on initial recognition to each of the Group’s CGUs that are expected to benefit from a business combination that gives rise to the goodwill.

Property and Equipment:

The carrying amounts of the Group’s assets including right-of-use assets are reviewed at the end of each reporting period to determine whether there is any indication of impairment loss. If any such indication exists, the asset’s recoverable amount is estimated in order to determine the extent of the impairment loss, if any. An impairment loss is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less cost to sell and value in use. Impairment losses are charged to the profit and loss in other operating expenses.

Impairment charges are included in the profit or loss, except to the extent they reverse gains previously recognized in other comprehensive income. An impairment loss recognized for goodwill is not reversed.

3.5. Financial instruments

3.5.1. Financial assets

The Group classifies all its financial assets at amortized cost. The Group has not classified any of its financial assets at fair value through profit or loss.

The Group includes in this category trade and other receivables, deposits, due from related parties and cash and cash equivalents.

These assets are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. They arise principally through the provision of goods and services to customers (e.g. trade receivables), but also incorporate other types of contractual monetary asset.

They are initially recognized at fair value plus transaction costs that are directly attributable to their acquisition or issue, and are subsequently carried at amortized cost using the effective interest rate method, less provision for impairment.

For impairment provisions, the Group applies the IFRS 9 simplified approach to measure expected credit losses using a lifetime expected credit loss provision for trade receivables to measure expected credit losses on a collective basis. Trade receivables are grouped based on a similar credit risk and ageing. The Company measures ECL and recognizes credit loss allowance at each reporting date. The measurement of ECL reflects: (i) an unbiased and probability weighted amount that is determined by evaluating a range of possible outcomes, (ii) time value of money and (iii) all reasonable and supportable information that is available without undue cost and effort at the end of each reporting period about past events, current conditions and forecasts of future conditions. The expected loss rates are based on the Group’s historical credit losses experienced over the three year period prior to the period end. The historical loss rates are then adjusted for current and forward-looking information on macroeconomic factors affecting the Group’s customers. The Group has identified the gross domestic product (GDP), unemployment rate and inflation rate as the key macroeconomic factors in the countries where the Group operates. Other financial assets includes time deposits and other receivables, and the Group has determined that credit risk has not increased significantly on those assets and considers to have low credit risks at the reporting date.

The Group applies the IFRS 9 general approach to measure expected credit losses using a lifetime expected credit loss provision for related party balances to measure expected credit losses on a collective basis.

From time to time, the Group elects to renegotiate the terms of trade receivables due from customers with which it has previously had a good trading history. Such renegotiations will lead to changes in the timing of payments rather than changes to the amounts owed and, in consequence, the new expected cash flows are discounted at the original effective interest rate and any resulting difference to the carrying value is recognized in the profit and loss.

The Group’s assets at amortized costs comprise trade and other receivables, deposits, due from related parties and cash and cash equivalents in the consolidated statement of financial position.

Cash and cash equivalents includes cash in hand, deposits held at call with banks, and other short term highly liquid investments with original maturities of three months or less.

3.5.2. Financial liabilities

The Group classifies its financial liabilities into one of two categories, depending on the purpose for which the liability was acquired.

Fair value through profit and loss (“FVTPL”):

The warrant liability is classified as a financial liability at FVTPL and valued using the Black-Scholes model (June 30, 2020: Monte Carlo simulation). Financial liabilities at FVTPL are stated at fair value, with any gains or losses arising on re-measurement recognized in profit or loss.

Fair value through other comprehensive income (“FVTOCI”):

The Group uses cash flow hedge to manage interest rate risk. The swaps are accounted for at fair value at each balance sheet date and the changes in the market price are recorded in other comprehensive income.

The positive fair values of interest rate swaps are included in other receivables and other comprehensive income. The negative fair values of interest rate swaps are included in payables and other comprehensive income.

Financial liabilities at amortized cost:

The Group includes in this category trade and other payables, borrowings, and due to related parties.

Trade payables and other short-term monetary liabilities, which are initially recognized at fair value and subsequently carried at amortized cost using the effective interest method. Gains and losses are recognized in the profit or loss when the liabilities are derecognized as well as through the effective interest rate method amortization process. The effective interest method is a method of calculating the amortized cost of a financial liability and of allocating interest costs over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments through the expected life of the financial liability or (where appropriate) to the net carrying amount on initial recognition.

Financial liabilities at amortized cost are initially recognized at fair value net of any transaction costs directly attributable to the issue of the instrument.

Interest bearing liabilities are subsequently measured at amortized cost using the effective interest rate method, which ensures that any interest expense over the period to repayment is at a constant rate on the balance of the liability carried in the consolidated statement of financial position.

For the purposes of each financial liability, interest expense includes initial transaction costs and any premium payable on redemption, as well as any interest or coupon payable while the liability is outstanding.

Receivables and payables made to the Group companies outside the control of IBEX Limited are presented under the heading due to/from related parties. When denominated in a currency other than the US dollar, they are translated to US dollar at closing rates. Related parties receivables and payables are initially recognized at fair value and subsequently measured at amortized cost.

3.6. Trade receivables

Trade receivables are recognized and carried at original invoice amount less an allowance for expected credit losses.

3.7. Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short term highly liquid investments with original maturities of three months or less. Bank overdrafts are shown within loans and borrowings in current liabilities on the consolidated statement of financial position.

3.8. Revenue from Contracts with Customers

IFRS 15 lays out a five-step process to ascertain the amount and timing of revenue that should be recognized.

●	Step 1: Identify the contract: The Company determines whether a contract exists between the reporting entity and customers that identifies rights, payment terms, has commercial substance and basis for collectability can be determined.

●	Step 2: Identify the Performance Obligations: The Company reviews the nature of the goods or service to be rendered in the contract and whether these are distinct. The reporting entity should recognize the revenue when it satisfies the performance obligations.

●

Step 3: Determine the transaction price: The amount of consideration expected to be received is defined which may be fixed or variable. With variable consideration the reporting entity can reasonably estimate the expected consideration. This step includes consideration of the various criteria which need to be identified and analyzed in determining whether revenues are fixed, variable or both.

●	Step 4: Allocate the transaction price to the performance obligations in the contracts – Where separate performance obligations exist, the reporting entity allocates and assigns the consideration to the respective performance obligations.

●	Step 5: Revenue Recognition: Recognize revenue to when the entity satisfies the performance obligations.

Business Process Outsource (BPO):

Revenues from contact center services are recognized over the period as the services are performed on the basis of the number of billable hours or other contractually agreed metrics. Revenues from inbound and outbound telephonic and internet-based communication services that are customized to the customers’ needs are recognized at the contractual rates as services are provided. Revenues for the initial training that occurs upon commencement of a new client contract are deferred and recognized over the estimated life of the client program if that training is billed to a client. Training revenues are deferred and then recognized on a straight-line basis over the life of the client contract, as it is not considered to have a standalone value to the customer. The related expenses are immediately charged to payroll and related expenses in the statement of profit or loss as incurred. Revenues are recognized in the amount as per the contractual billing rights which has a right to invoice net of discounts, incentives, and other credits as per contractual terms. The contact center solutions consist of customer service, technical support and other value added outsourced back office services. This omni-channel offering is delivered through voice, email, chat, SMS, social media and other communication applications. Capital expenditure, billed to the client at actual cost, is deferred and then recognized on a straight-line basis over the life of the client contract.

Revenues from CX services are recognized over the period of a client’s subscription contract on a basis that reflects usage of the product at the client’s location. Revenues and expenses related to set-up fees to customize the customer experience solution for client’s specific needs are deferred and recognized on a straight-line basis

over the period in which the related service delivery is expected to be performed. Revenues related to additional consulting services are recognized over the period as the related services are performed on a per hour basis. The customer experience solution is comprised of a comprehensive suite of proprietary software tools to measure, monitor and manage the customer experience.

Revenues from Digital services are recognized upon the successful purchase of clients’ services as reported to the Group in monthly, semi-monthly or weekly intervals by clients. The data provided by clients to the Group include detail on pricing and product level activations from all channels (i.e. web-portal orders, call center orders, or affiliate or partner orders placed on the Group’s behalf) on the basis of which the clients calculate the payments owed to the Group. The payments received are reconciled to the activation data transmitted to the Group by the clients. Revenue is recognized from Digital Services at a point of time. Most of the digital solutions are based on two steps: (a) generating or purchasing a lead or a prospect, and (b) converting that lead or prospect into a customer, most frequently through a voice-based channel. Customers are primarily acquired for clients in the telecommunications, cable, technology and insurance industries.

Revenues from ETQ (discontinued operations) consist of commissions earned primarily from the sale by the Group to senior citizens and other eligible recipients (e.g. people with disabilities) of Medicare private insurance policies offered by leading U.S. insurance carriers. The commissions earned are dependent on the type of Medicare product sold, where the insured is based and the month in which the policy becomes effective. The commissions are based on a pre-determined rate card for which guidance and ranges are set by the regulatory body - CMS (Center for Medicare and Medicaid). The Company recognizes revenue on the sale date of the insurance policy after taking appropriate provisions for any cancellations during the first year of sale. Once the Carrier accepts a new insured, a carrier confirmation number is generated and the sale is made on the date the policy comes into effect. The Carrier then pays a commission to Company at the agreed rates for the first full year (initial year) of the policy.

For renewal commissions, the Group incorporates a combination of historical lapse and premium increase data along with available industry and insurance carrier experience data to estimate forecasted renewal consideration and constrain revenue recognized to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur. The uncertainty associated with the variable consideration is subsequently resolved when the policy renews.

Costs of fulfilling contracts do not result in the recognition of an asset as the majority of revenue is recognized over time and control of the asset is transferred to the customer when the service is transferred therefore no asset in relation to costs to fulfil contracts has been recognized. In relation to costs incurred to obtain a contract, no asset is recognized because the majority of costs (i.e. travel, employee commission, administrative expenses) are short-term in nature and also insignificant therefore they are recognized in the profit and loss account when incurred.

3.9. Provisions

A provision is recognized in the statement of financial position when the Group has a legal or constructive obligation as a result of a past event; it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation.

The Group has recognized provisions against legal disputes. Provisions are made for costs to defend legal disputes where it is considered that an outflow of economic benefit is probable. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognized as interest expense in profit and loss. Provisions

are reviewed at each statement of financial position date and adjusted to reflect the current best estimate. The provisions are recognized in trade and other payables.

3.10. Profit or loss from discontinued operations

A discontinued operation is a component of the Group that either has been disposed of, or is classified as held for sale. Profit or loss from discontinued operations comprises the post-tax profit or loss of discontinued operations and the post-tax gain or loss recognized on the measurement to fair value less costs to sell or on the disposal group(s) constituting the discontinued operation (see also Note 30.2).

3.11. Retirement benefits

Defined contribution pension schemes

Contributions to defined contribution pension schemes are charged to the profit or loss in the year to which they relate.

United States based subsidiaries

The Group’s United States (“US”) based subsidiaries have qualified defined contribution plans. Employees who meet certain eligibility requirements, as defined, are able to contribute up to federal annual maximums. The Retirement Plan provides for company matching contributions of 25.0% of the first 6.0% of employee contributions to the Retirement Plan, which vests 25.0% per year over a four-year period.

TRG Marketing Solutions Limited

This subsidiary operates a defined contribution pension plan with a third party. Under this scheme, TRG Marketing Solutions Limited makes contributions for employees who have not opted out of the voluntary pension scheme.

Virtual World (Private) Limited and IBEX Global Solutions (Private) Limited

Virtual World (Private) Limited, IBEX Global Solutions (Private) Limited, and DS (Private) Limited operate a defined contribution plan (i.e. recognized provident fund scheme) for all its permanent employees. The assets of the Fund are held separately under the control of trustees for such fund. Contributions made by the subsidiaries are charged to the profit or loss.

Defined benefit schemes

Defined benefit scheme surpluses and deficits are measured at:

●	The fair value of plan assets at the reporting date; less

●

Plan liabilities calculated using the projected unit credit method discounted to its present value using yields available on high quality corporate bonds that have maturity dates approximating to the terms of the liabilities and are denominated in the same currency as the post-employment benefit obligations; less

●	The effect of minimum funding requirements agreed with scheme trustees

Re-measurements of the net defined obligation are recognized directly within other comprehensive income. The re-measurements include:

●	Actuarial gains and losses

●	Return on plan assets (interest exclusive)

●	Any asset ceiling effects (interest exclusive)

Service costs are recognized in the profit or loss, and include current and past service costs as well as gains and losses on curtailments.

Net interest expense / income is recognized in the profit or loss, and is calculated by applying the discount rate used to measure the defined benefit obligation / asset at the beginning of the annual period to the balance of the net defined benefit obligation / asset, considering the effects of contributions and benefit payments during the period.

Gains or losses arising from changes to scheme benefits or scheme curtailment are recognized immediately in the profit or loss. Settlements of defined benefit schemes are recognized in the period in which the settlement occurs.

IBEX Philippines, Inc. and IBEX Global Solutions (Philippines) Inc. operate an unfunded defined benefit scheme.

Under the plan, pension costs are actuarially determined using the projected unit credit method. This method considers each period of service as giving rise to an additional unit of benefit entitlement and measures each unit separately to build up the final obligation. Gains or losses on the curtailment or settlement of pension benefits are recognized when the curtailment or settlement occurs. All actuarial gains and losses are recognized in the year in which they arise, with re-measurements presented within other comprehensive income. The net interest cost is derived by applying a single discount rate to the net surplus or deficit of the fund.

3.12. Share-based payments

In December 2018, the Group terminated both the Stock Option Plan as well as the Phantom Plan, with the exception of those in IBEX Global Solutions (Philippines) Inc., IBEX Global ROHQ, and IBEX Global Jamaica Limited. The Group in the same period issued the Restricted Stock Plan (RSA). During the year ended June 30, 2021 and June 30, 2020, the Group issued the Long Term Incentive Plan (LTIP). The details of the share-based compensation plans are given in Note 19 (Share-based compensation plans) to these consolidated financial statements.

The Company uses the fair value method of accounting for the share options, restricted stock award plan and long-term incentive plan. The fair value of these share options are estimated using the Black-Scholes valuation model and Monte Carlo simulation as applicable. The measurement of share options at fair value is based on the option pricing model taking into account the following variables:

●	The share price.

●	The strike price.

●	Volatility determined based on historical prices of our shares.

●	The duration, which has been estimated as the difference between the valuation date of the warrant plans and final exercise date.

●	The risk free interest rate.

During the year ended June 30, 2021, The measurement of the RSA and option plans are based on the Black-Scholes valuation model however historically the measurement of the RSA and option plans were based on the valuation provided by a third party valuation firm, based on the Monte Carlo simulation model, which the Group applied as the Fair Value of the awards.

Where equity settled share options are awarded to employees, the fair value of the options at the date of grant is charged to the profit or loss over the vesting period.

Where the terms and conditions of awards are modified before they vest, the increase in the fair value of the awards, measured immediately before and after the modification, is also charged to the consolidated statement of comprehensive income over the remaining vesting period.

The Group also operates a Phantom share option scheme (a cash settled share-based payment). An option pricing model (Black-Scholes) is used to measure the Group’s liability at each reporting date, taking into account the terms and conditions and the extent to which employees have rendered service. Movements in the liability (other than cash payments) are recognized in the profit or loss.

3.13. Warrants

The Company accounts for the warrants to purchase its common shares in accordance with the provisions of IAS 32 − Financial Instruments: Presentation and IFRS 9 – Financial Instruments. The Company classifies as assets or liabilities any contracts that (i) require net-cash settlement (including a requirement to net-cash settle the contract if an event occurs and if that event is outside the control of the Company) or (ii) gives the counterparty a choice of net-cash settlement or settlement in shares (physical settlement or net-share settlement).

The Company assessed the classification of the warrant as of the date it was issued and determined that such instruments met the criteria for liability classification. The warrant is reported on the consolidated statement of financial position as a liability at fair value using the Black-Scholes valuation method. The initial value was recorded on the consolidated statements of financial position with the common shares underlying the warrant which have vested recorded as contra revenue and the remainder recorded to long-and short-term assets.

The total fair value of the warrant liability is determined at the end of each reporting period by multiplying the fair value of a warrant by the total number of warrants that are expected to vest under the arrangement based on the satisfaction of the specified revenue milestones provided in the warrant. The total number of warrants that are expected to vest is based upon the cumulative revenues that are expected, as determined at the end of each reporting period, to be earned from Amazon during a period of 7.5 years ending on June 30, 2024.

The measurement of the warrant at fair value as of the initial measurement date is based on the Black-Scholes valuation model taking into account the following variables:

●	The share price.

●	The strike price.

●	Volatility determined based on historical prices of our shares.

●	The duration, which has been estimated as the difference between the valuation date of the warrant plans and final exercise date.

●	The risk free interest rate.

At the end of each reporting period, the Company has fair valued the warrant liability with changes in fair value through profit and loss. For the year ended June 30, 2021 and June 30, 2020, the Company used Black-Scholes valuation model and Monte Carlo simulation respectively, which requires the input of subjective assumptions, including the expected volatility and the expected term.

Given the absence of an active market for the common shares as of June 30, 2020, the Company is required to estimate the fair value of its common shares at the time of each grant.

The Company considers a variety of factors in estimating the fair value of its common shares on each measurement date, including:

●	the Company’s historical and projected operating and financial performance;

●	the Company’s introduction of new products and services;

●	the Company’s completion of strategic acquisitions;

●	the Company’s stage of development;

●	the global economic outlook and its expected impact on the Company’s business; and

●	the market performance of comparable companies.

The assets will be amortized on a systematic basis over the life of the arrangement as revenue is recognized for the transfer of the related goods or services as included Note 3.8. The Company will review the asset on a reporting period basis to determine whether an impairment is required. In the event that an impairment is needed, the company will reduce the asset and offset to revenues.

3.14. Income taxes

Current tax

Current tax expense is based on taxable income at the current rates of taxation of the respective jurisdictions after taking into account applicable tax credits, rebates and exemptions available, if any.

Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions, where appropriate, on the basis of amounts management expects to pay to the tax authorities. Any such provisions are based on estimates and are subject to changing facts and circumstances considering the progress of ongoing tax audits, case law and new legislation.

Deferred tax

Deferred tax assets and liabilities are recognized where the carrying amount of an asset or liability in the consolidated statement of financial position differs from its tax base, except for differences arising on:

●	The initial recognition of goodwill

●	The initial recognition of an asset or liability in a transaction which is not a business combination and at the time of the transaction affects neither accounting or taxable profit, and

●	Investments in subsidiaries and jointly controlled entities where the Group is able to control the timing of the reversal of the difference and it is probable that the difference will not reverse in the foreseeable future

Recognition of deferred tax assets is restricted to those instances where it is probable that taxable profit will be available against which the difference can be utilized.

The amount of the asset or liability is determined using tax rates that have been enacted or substantively enacted by the reporting date and are expected to apply when the deferred tax liabilities / assets are settled / recovered.

Deferred tax assets and liabilities are offset when the Group has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority on either:

●	The same taxable group company, or

●

Different group entities which intend either to settle current tax assets and liabilities on a net basis, or to realize the assets and settle the liabilities simultaneously, in each future period in which significant amounts of deferred tax assets or liabilities are expected to be settled or recovered.

3.15. Foreign Currency

Foreign currency translation

Transactions entered into by Group entities in a currency other than the currency of the primary economic environment in which they operate (their “Functional Currency”) are recorded at the rates ruling when the transactions occur. Foreign currency monetary assets and liabilities are translated at the rates ruling at the reporting date. Exchange differences arising on the retranslation of unsettled monetary assets and liabilities are recognized immediately in the profit or loss. The net exchange losses amounted to $0.2 million for the year ended June 30, 2021 (June 30, 2020: $0.4 million; June 30, 2019: $1.3 million).

On consolidation, the results of overseas operations are translated into dollars at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations, including goodwill arising on the acquisition of those operations, are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at the opening rate and the results of overseas operations at the actual rate are recognized in other comprehensive income and accumulated in the foreign exchange reserve. Exchange differences are recognized as profit or loss in Group entities’ separate consolidated financial statements on the translation of long-term monetary items forming part of the Group’s net investment in the overseas operation concerned are reclassified to other comprehensive income and accumulated in the foreign exchange reserve on consolidation.

On disposal of a foreign operation, the cumulative exchange differences recognized in the foreign exchange reserve relating to that operation up to the date of disposal are transferred to the profit or loss as part of the profit or loss on disposal.

Transactions denominated in foreign currencies are translated into $USD at the exchange rate at the end of the previous month-end. Monetary items in the statement of financial position are translated at the closing rate at each reporting date and the relevant translation adjustments are recognized in financial result.

3.16. Offsetting of financial assets and financial liabilities

Financial assets and financial liabilities are offset when the entity has a legally enforceable right to offset the recognized amounts and intends either to settle these on net basis or to realize the assets and settle the liabilities simultaneously. The legally enforceable right must not be contingent on future events and must be enforceable in the normal course of business and in the event of default, insolvency or winding up of the entity or the counterparties.

3.17. Dividend

Dividends declared subsequent to the balance sheet date are considered as non-adjusting events and are recognized in the consolidated financial statements in the year in which such dividends are approved / transfers are made.

3.18. Hedge accounting

The Group designates and documents the use of certain derivatives and other financial assets or financial liabilities as hedging instruments against changes in fair values of recognized assets and liabilities (fair value hedges) and highly probable forecast transactions (cash flow hedges). The effectiveness of such hedges is assessed at inception and verified at regular intervals and at least on a quarterly basis to ensure that an economic relationship exists between the hedged item and the hedging instrument.

The Group uses cash flow hedges to mitigate a particular risk associated with a recognized asset or liability or highly probable forecast transactions, such as variability of expected interest payments and receipts.

If a highly probable forecast transaction results in the recognition of a non-monetary asset, the cumulative loss / (gain) is added to / (subtracted from) the cost of the asset acquired (“basis adjustment”). The same approach is followed where a cash flow hedge of a hedged forecast transaction for a non-financial asset or non-financial liability becomes a firm commitment to which fair value hedge accounting is applied. Otherwise the cumulative gain or loss recognized in other comprehensive income is reclassified from the cash flow hedge reserve to profit or loss at the same time as the hedged transaction affects profit or loss. The two transactions are recognized in the same line item. If a forecast transaction is no longer considered highly probable but the forecast transaction is still expected to occur, the cumulative gain or loss recognized in other comprehensive income is frozen and recognized in profit or loss. Subsequent changes in the fair value of the derivative are recognized in profit or loss. If the Group closes out its position before the transaction takes place (even though it is still expected to take place) the cumulative gain or loss on changes in fair value of the derivative is similarly recognized. If, at any point, the hedged transaction is no longer expected to occur, the cumulative gain or loss is reclassified from the cash flow hedge reserve to profit or loss immediately. The effective portion of gains and losses on derivatives used to manage cash flow interest rate risk (such as floating to fixed interest rate swaps) are also recognized in other comprehensive income and accumulated in the cash flow hedge reserve. However, if the Group closes out its position early, the cumulative gains and losses recognized in other comprehensive income are frozen and reclassified from the cash flow hedge reserve to profit or loss using the effective interest

method. The ineffective portion of gains and losses on derivatives used to manage cash flow interest rate risk are recognized in profit or loss within finance charges.

3.19. Standards, interpretations and amendments not yet effective

●

On January 23, 2020, the International Accounting Standards Board (IASB or the Board) issued amendments to IAS 1 Presentation of Financial Statements (the amendments) to clarify that liabilities are classified as either current or non-current, depending on the rights that exist at the end of the reporting period. These amendments should be applied for annual periods beginning on or after January 1, 2022, retrospectively in accordance to IAS 8. On July 15, 2020, IASB issued an amendment that defers the effective date of January 2020 amendments by one year, so that the entities would be required to apply the amendment for annual periods beginning on or after January 1, 2023. The Company is assessing the impact of the amendment and expects that the impact would not have a material impact on the financial statements.

●

On February 12, 2021, the IASB issued amendments to IAS 1 to improve the accounting policy disclosures so that they provide more useful information to investors and other primary users of the financial statements. The amendments to IAS 1 require companies to disclose their material accounting policy information rather than their significant accounting policies. These amendments should be applied for annual periods beginning on or after January 1, 2023, prospectively. The Company is assessing the impact of the amendment and expects that the impact would not have a material impact on the financial statements.

●

On February 12, 2021, the IASB issued amendments to IAS 8 to help entities distinguish between accounting policies and accounting estimates. The amendments to IAS 8 clarifies that:

accounting estimates are “monetary amounts in financial statements that are subject to measurement uncertainty.”

Entities develop accounting estimates if accounting policies require items in financial statements to be measured in a way that involves measurement uncertainty.

Change in accounting estimate that results from new information or new developments is not the correction of an error. In addition, the effects of a change in an input or a measurement technique used to develop an accounting estimate are changes in accounting estimates if they do not result from the correction of prior period errors.

A change in an accounting estimate may affect only the current period’s profit or loss, or the profit or loss of both the current period and future periods. The effect of the change relating to the current period is recognized as income or expense in the current period. The effect, if any, on future periods is recognized as income or expense in those future periods.

These amendments should be applied for annual periods beginning on or after January 1, 2023, prospectively. The Company is assessing the impact of the amendment and expects that the impact would not have a material impact on the financial statements.

●

On March 31, 2021, the IASB has issued ‘Covid-19 related rent concessions beyond June 30, 2021 (Amendment to IFRS 16), that extends by one year, the May 2020 amendment that provides lessees with an exemption from assessing whether a COVID-19-related rent concession is a lease modification. These changes amends IFRS 16 to:

permit a lessee to apply the practical expedient regarding COVID-19-related rent concessions to rent concessions for which any reduction in lease payments affects only payments originally

due on or before 30 June 2022 (rather than only payments originally due on or before 30 June 2021);

require a lessee applying the amendment to do so for annual reporting periods beginning on or after 1 April 2021;

require a lessee applying the amendment to do so retrospectively, recognizing the cumulative effect of initially applying the amendment as an adjustment to the opening balance of retained earnings (or other component of equity, as appropriate) at the beginning of the annual reporting period in which the lessee first applies the amendment; and

Specify that, in the reporting period in which a lessee first applies the amendment, a lessee is not required to disclose the information required by paragraph 28(f) of IAS 8.

●

On May 7, 2021, the IASB has published ‘Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Amendments to IAS 12)’. The Board amends IAS 12 to provide a further exception from the initial recognition exemption. Under the amendments, an entity does not apply the initial recognition exemption for transactions that give rise to equal taxable and deductible temporary differences. The amendments are effective for annual reporting periods beginning on or after 1 January 2023.

The Company is assessing the impact of the amendment and expects that the impact would not have a material impact on the financial statements.

GOODWILL

12 Months Ended

Jun. 30, 2021

GOODWILL [Abstract]

GOODWILL

4. GOODWILL


	June 30,	June 30,
	2021	2020
	(US$’000)
Goodwill as of beginning of the year	11,832	11,832
Goodwill acquired during the year	—	—
Goodwill impaired during the year	—	—
Goodwill as of end of the year	11,832	11,832

A cash-generating unit (CGU) is the smallest group of assets that independently generates cash flow and whose cash flow is largely independent of the cash flows generated by other assets. Goodwill arose on various historical acquisitions made by predecessor companies and at June 30, 2021 and June 30, 2020, the carrying amount of goodwill is allocated as follows:


	June 30,	June 30,
	2021	2020
	(US$’000)
IBEX	11,832	11,626
DGS	—	206
	11,832	11,832

The calculation of value in use for the business operations is most sensitive to changes in the following assumptions which are discussed below, together with the amounts by which these key assumptions would have to change (independent of other changes in assumptions) for an impairment to arise. Management has calculated the recoverable amount of the cash generating unit to exceed its carrying amount by $257.4 million.

Testing for impairment of goodwill

Key assumptions applied in impairment testing

The recoverable amounts of all the CGUs have been determined from value in use calculations based on cash flow projections from formally approved budgets covering a three year period from 2022 to 2024. The first year of the projections is based on detailed budgets prepared by management as part of the Group’s performance and control procedures. Subsequent years are based on extrapolations using the key assumptions listed below which are management approved projections. The discount rate applied to cash flow projections beyond three-years is extrapolated using a terminal growth rate which represents the expected long-term growth rate of the Business Process Outsourcing (“BPO”) sector.

The following rates were used by the Group for the years ended June 30, 2021, 2020 and 2019:


	Average	Average		Terminal
	revenue	Gross	Discount	Growth
	growth rate	Margin	Rate	Rate
	%	%	%	%
June 30, 2021	9.2	29.0	13.2	5
June 30, 2020	7.9	26.2	13.2	5
June 30, 2019	5.6	25.5	10.6	5

The calculation of value in use for the business operations is most sensitive to changes in the following assumptions:

Revenue growth

Revenue growth assumptions have been derived from projections prepared by management. Management is of the view that these assumptions are reasonable considering current market conditions. An impairment in the carrying value of goodwill would not arise if the 2022-2024 average revenue growth rate declined to nil. Over the projected period of three years, COVID 19 has not significantly impacted the revenue and gross margins of the Company.

Cost of sales and gross margin

Cost of sales has been projected on the basis of multiple strategies planned by management to ensure profitable operations. These strategies include cost minimization mechanisms such as offshore migration of labor, centralization of support activities and increasing efficiency of service delivery, resulting in improved gross margins over the forecasted period. An impairment in the carrying value of goodwill would not arise if the 2022 estimated gross margin is decreased significantly.

Discount rate

Discount rates reflect management estimates of the rate of return required for the business and are calculated after taking into account the prevailing risk-free rate, industry risk and business risk. Discount rates are

calculated using the weighted average cost of capital. An impairment in the carrying value of goodwill would not arise if the weighted average cost of capital were to increase significantly.

OTHER INTANGIBLE ASSETS

12 Months Ended

Jun. 30, 2021

OTHER INTANGIBLE ASSETS [Abstract]

OTHER INTANGIBLE ASSETS

5. OTHER INTANGIBLE ASSETS


			Customer
	Patents	Trademarks	lists	Software	Total
	(US$’000)
Cost
At July 1, 2020	541	371	2,817	20,466	24,195
Additions	—	—	—	1,463	1,463
Foreign exchange movements	—	—	—	20	20
At June 30, 2021	541	371	2,817	21,949	25,678
Accumulated amortization
At July 1, 2020	196	—	2,566	18,652	21,414
Impairment charge for the year	—	—	—	—	—
Amortization charge for the year	—	—	71	984	1,055
At June 30, 2021	196	—	2,637	19,636	22,469
Net book value
At June 30, 2021	345	371	180	2,313	3,209
At June 30, 2020	345	371	251	1,814	2,781

Cost
At July 1, 2019	541	371	2,817	18,464	22,193
Additions	—	—	—	2,021	2,021
Foreign exchange movements	—	—	—	(19)	(19)
At June 30, 2020	541	371	2,817	20,466	24,195
Accumulated amortization and impairment
At July 1, 2019	196	—	2,477	16,592	19,265
Impairment charge for the year	—	—	—	777	777
Amortization charge for the year	—	—	89	1,283	1,372
At June 30, 2020	196	—	2,566	18,652	21,414
Net book value
At June 30, 2020	345	371	251	1,814	2,781
At June 30, 2019	345	371	340	1,872	2,928

Amortization charge for the years ended June 30, 2021, 2020 and 2019 comprise of:


	June 30,	June 30,	June 30,
	2021	2020	2019
	(US$’000)
Amortization from continuing operations	1,055	1,372	1,722
Amortization from discontinued operations	—	—	5
Total	1,055	1,372	1,727

5.1.

Net book value of software licenses held under financing is $0.5 million as of June 30, 2021 (June 30, 2020: $0.9 million).

5.2.

Estimated amortization expense for the next three years is projected to be:


	June 30,		June 30,		June 30,
	2021		2020		2019
	(US$)
2022	1.2	million	0.7	million	0.8	million
2023	0.8	million	0.4	million	0.2	million
2024	0.5	million	—		—

During the year ended June 30, 2021, no impairment (June 30, 2020: $0.8 million, June 30, 2019: $0.2 million) was recognized in other operating costs.

PROPERTY AND EQUIPMENT

12 Months Ended

Jun. 30, 2021

PROPERTY AND EQUIPMENT [Abstract]

PROPERTY AND EQUIPMENT

6. PROPERTY AND EQUIPMENT


			Furniture,			Assets
	Facility	Leasehold	fixture and	Computer		under
	Leases	Improvements	equipment	Equipment	Vehicles	Construction	Total
	(US$’000)
Cost
At July 1, 2020	83,665	20,127	26,410	50,603	1,026	741	182,572
Additions	29,388	5,351	4,625	10,396	298	1,092	51,150
Transfer from CWIP	—	248	440	53	—	(741)	—
Foreign exchange movements	1,227	65	171	210	8	—	1,681
Disposal	(3,207)	—	(10)	(423)	(50)	—	(3,690)
At June 30, 2021	111,073	25,791	31,636	60,839	1,282	1,092	231,713

Accumulated depreciation
At July 1, 2020	22,137	15,092	17,414	42,711	630	—	97,984
Charge for the year	13,988	3,033	3,378	6,521	222	—	27,142
Disposal	—	—	(10)	(74)	(32)	—	(116)
At June 30, 2021	36,125	18,125	20,782	49,158	820	—	125,010

Net book value
At June 30, 2021	74,948	7,666	10,854	11,681	462	1,092	106,703
At June 30, 2020	61,528	5,035	8,996	7,892	396	741	84,588

Cost
At July 1, 2019	74,077	17,318	19,775	42,984	759	2,781	157,694
Additions	12,288	1,638	5,704	6,775	393	741	27,539
Transfer from CWIP	—	1,128	710	943	—	(2,781)	—
Foreign exchange movements	358	43	221	71	(64)	—	629
Disposal	(3,058)	—	—	(170)	(62)	—	(3,290)
At June 30, 2020	83,665	20,127	26,410	50,603	1,026	741	182,572

Accumulated depreciation
At July 1, 2019	10,422	12,674	14,329	37,451	509	—	75,385
Charge for the year	12,149	2,418	3,085	5,279	169	—	23,100
Disposal	(434)	—	—	(19)	(48)	—	(501)
At June 30, 2020	22,137	15,092	17,414	42,711	630	—	97,984

Net book value
At June 30, 2020	61,528	5,035	8,996	7,892	396	741	84,588
At June 30, 2019	63,655	4,644	5,446	5,533	250	2,781	82,309

No impairment of property, plant and equipment was recorded in the years ending June 30, 2021, 2020 and 2019.

Depreciation charge for the years ended June 30, 2021, 2020 and 2019 comprise of:


	June 30,	June 30,	June 30,
	2021	2020	2019
	(US$’000)
Depreciation from continuing operations	27,142	23,100	19,173
Depreciation from discontinued operations	—	—	905
Total	27,142	23,100	20,078

6.1. Right of use assets comprise of:


			Furniture,			Assets
	Facility	Leasehold	fixture and	Computer		under
	Leases	Improvements	equipment	Equipment	Vehicles	Construction	Total
	(US$’000)
Right-of-use assets
Balance at July 1, 2020	61,276	1,507	5,085	2,961	414	—	71,243
Additions	29,388	576	177	109	—	—	30,250
Disposal - net of depreciation	(3,207)	—	—	(349)	(8)	—	(3,564)
Transferred to owned	—	(1,123)	(4,434)	(1,629)	—	—	(7,186)
Foreign exchange movements	1,220	79	254	180	19	—	1,752
Depreciation charge for the year	(13,929)	(600)	(1,082)	(840)	(169)	—	(16,620)
Balance at June 30, 2021	74,748	439	—	432	256	—	75,875

Balance at July 1, 2019	63,357	321	1,320	913	282	1,488	67,681
Transfer from CWIP	—	388	703	397	—	(1,488)	—
Additions	12,288	1,474	4,900	2,835	309	—	21,806
Disposal - net of depreciation	(2,624)	—	—	(151)	(5)	—	(2,780)
Foreign exchange movements	323	34	121	28	(9)	—	497
Depreciation charge for the year	(12,068)	(710)	(1,959)	(1,061)	(163)	—	(15,961)
Balance at June 30, 2020	61,276	1,507	5,085	2,961	414	—	71,243

6.2. Lease liabilities:


	June 30,	June 30,
	2021	2020
	(US$’000)
Lease liabilities included in statement of financial position as of	83,999	74,712
Current	12,121	12,668
Non Current	71,878	62,044

6.3. Description of lease activities:

The Group leases buildings for its offices, equipment and vehicles. Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions. Leases are typically made for a fixed period of 3-7 years and may include renewal options, which provide operational flexibility and when recognizing right-of-use assets and lease liabilities, the Group includes certain renewal options where the Group is reasonably assured to exercise the renewal option. The operating leases recognized have reasonably assured lease terms ranging from 2 to 14 years. The Group allocates the consideration in the contract of lease related to the building to the lease and non-lease components based on their relative stand-alone prices.

6.4. Other lease disclosures:

A maturity analysis of lease liability is shown in Note 22.3. Interest expense on lease liabilities is $7.3 million (June 30, 2020: $6.5 million). The expense incurred relating to short-term leases, not included in the measurement of lease liabilities, is $0.2 million (June 30, 2020: $1.0 million) and no other variable lease payments were incurred during the year ended June 30, 2021. The total cash outflow for leases amounted $17.5 million (June 30, 2020: $12.2 million). Lease payments total $10.8 million and $9.1 million for the year ended June 30, 2021 and June 30, 2020 respectively.

The Group recognized 91 (June 30, 2020: 94) leases related to right of use assets. During the year ended June 30, 2021, there were 13 new leases (June 30, 2020: 25) and 16 (June 30, 2020: 18) disposal of leases.

6.5. Security Interest on property and equipment

The net book value of property and equipment at June 30, 2021 and 2020 includes $11.8 million and $7.0 million, respectively, of assets that are pledged as security for borrowings.

INVESTMENT IN JOINT VENTURE

12 Months Ended

Jun. 30, 2021

INVESTMENT IN JOINT VENTURE [Abstract]

INVESTMENT IN JOINT VENTURE

7. INVESTMENT IN JOINT VENTURE

On January 1, 2016, one of the subsidiaries of the Group (“the Subsidiary”) made a 47.5% investment in a Joint Venture Lake Ball LLC, doing business as Clear Connect, with Innovative Business Solutions (‘IBS’) with a purpose to procure and sell commercial leads for the Subsidiary’s customers. The country of incorporation and principle place of business of Lake Ball LLC is the United States of America. The investment is accounted for under the equity method of accounting. As of June 30, 2021, the market value of the investment amounts to $0.3 million (June 30, 2020: $0.3 million, June 30, 2019: $0.2 million). The details of the investment are as follows:


	June 30,	June 30,	June 30,
	2021	2020	2019
	(US$’000)
Opening balance	331	227	392
Return on investment during the year	—	—	(96)
Dividend received during the year	(650)	(430)	(420)
Share of profit for the year	577	534	351
Ending balance	258	331	227

Share of profit for the year ended June 30, 2021, 2020 and 2019 of $0.6 million, $0.5 million and $0.4 million, respectively, is included in the other operating costs in statement of profit or loss and comprehensive income.

Summarized financial information of equity accounted Joint Venture from the financial statements of Lake Ball LLC is as follows:


	For the Year Ended
	June 30,	June 30,	June 30,
	2021	2020	2019
	(US$’000)

Revenue	4,342	3,152	2,140
Profit after tax	1,215	1,124	739
Other comprehensive income	—	—	—
Total comprehensive income	1,215	1,124	739

OTHER ASSETS

12 Months Ended

Jun. 30, 2021

OTHER ASSETS [Abstract]

OTHER ASSETS

8. OTHER ASSETS


		June 30,	June 30,
		2021	2020
	(US$’000)
Deposits		3,715	3,087
Prepayments		633	918
Other		891	829
Other Assets		5,239	4,834

TRADE AND OTHER RECEIVABLES

12 Months Ended

Jun. 30, 2021

TRADE AND OTHER RECEIVABLES [Abstract]

TRADE AND OTHER RECEIVABLES

9. TRADE AND OTHER RECEIVABLES


		June 30,	June 30,
	Note	2021	2020
	(US$’000)
Trade receivables
Trade receivables - gross		69,715	55,862
Less: Allowance for credit losses	9.1	(2,301)	(1,877)
Trade receivables - net		67,414	53,985
Less: receivables attributable to related parties, net		(725)	(549)
Trade receivables - net closing balance		66,689	53,436

Other receivables
Prepayments		5,281	4,397
Advance Tax		4,233	1,832
VAT/Sales Tax receivables		2,947	1,651
Other receivables		1,223	923
Deposits		731	340
		14,415	9,143
		81,104	62,579

9.1. Allowance for credit losses


	June 30,	June 30,
	2021	2020
	(US$’000)
Opening balance	1,877	2,209
Foreign exchange movements	133	(228)
Loss allowance recognized during the year	291	224
Trade receivables written off against allowance	—	(328)
Closing balance	2,301	1,877

CASH AND CASH EQUIVALENTS

12 Months Ended

Jun. 30, 2021

CASH AND CASH EQUIVALENTS [Abstract]

CASH AND CASH EQUIVALENTS

10. CASH AND CASH EQUIVALENTS


	June 30,	June 30,
	2021	2020
	(US$’000)
Balances with banks in:
− current accounts	55,258	19,451
− deposit accounts (with a maturity of 3 months or less at inception)	2,559	2,396
	57,817	21,847
Cash in hand	25	23
	57,842	21,870

DEFERRED REVENUE

12 Months Ended

Jun. 30, 2021

DEFERRED REVENUE [Abstract]

DEFERRED REVENUE

11. DEFERRED REVENUE


	June 30,	June 30,
	2021	2020
	(US$’000)

Deferred revenue	7,087	3,904
Less: current portion of deferred revenue	(4,077)	(3,470)
	3,010	434

SHARE CAPITAL AND OTHER RESERVES

12 Months Ended

Jun. 30, 2021

SHARE CAPITAL AND OTHER RESERVES [Abstract]

SHARE CAPITAL AND OTHER RESERVES

12. SHARE CAPITAL AND OTHER RESERVES

12.1. Share capital as of June 30, 2021

The Company is authorized to issue up to 108,057,967 common shares at a par value of $0.0001 per share.

On August 7, 2020, the Company’s common shares began trading on the Nasdaq Global Market under the ticker symbol “IBEX” at $19 per share. Of the 4,761,905 common shares offered, 3,571,429 were offered by the Company and 1,190,476 were offered by TRGI, our principal shareholder. The net offering proceeds to the Company, before expenses, and after deducting underwriting discounts and commissions were approximately $63.1 million. $1.6 million of the net proceeds from our initial public offering was used to pay offering related expenses. The Company did not receive any proceeds from the sale of shares by TRGI.

On the date of the Company’s initial public offering, the Series A, Series B, Series C preferred shares and the Class B common shares (detailed in 1.2) were automatically converted into 14,119,384 common shares as follows:

●	Series A preferred shares converted to Series C on a 1:1 basis

●	Series B preferred shares converted to Series C on a 1:1 basis

●	Series C preferred shares (including those existing as a result of the above conversions) then converted to Class A common shares at 1.158 to 1 based on a pre-determined formula.

●	Class B common shares converted to Class A common shares on a 1:1 basis.

●	Class B and Class A common shares were combined into one class of common shares as of the initial public offering date (“Common Shares”).

As of June 30, 2021, there were 18,399,063 common shares issued and outstanding.

12.2. Share capital as of June 30, 2020

Prior to the Company’s initial public offering, the share capital was structured as follows:

●	Series A Convertible Preferred (“Series A”) - The maximum number of Series A Convertible Preference Shares was one, whose holder was our principal shareholder, TRGI.

●	Series B Convertible Preferred (“Series B”) - The maximum number of Series B Convertible Preference Shares was 12,512,994, of which 11,083,691 shares were issued and outstanding as of June 30, 2020.

●	Series C Convertible Preferred (“Series C”, and together with the Series A shares and the Series B Shares, the “Preferred Convertible Shares”) - The maximum number of Series C shares was 12,639,389 of which 111,986 shares were issued and outstanding as of June 30, 2020.

●	Class A Common Shares (“Class A”) – The maximum number of Class A shares was 79,766,504. There are no Class A shares issued and outstanding as of June 30, 2020.

●	Class B Common Shares (“Class B”, and together with the Class A shares, the “Common Shares”) - The maximum number Class B shares was 3,139,114 which are authorized for issuance under the Restricted Stock Plan, of which 1,841,660 shares were issued as of June 30, 2020.

The holders of Preferred Convertible Shares were entitled to vote, together with the holders of Class A shares, as a single class on all matters submitted to the shareholders for a vote.

In the event that the Company declares a dividend, the Company shall not declare nor pay any dividends or make any distribution to any other class of shares until and unless the Company has declared and paid aggregate dividends of at least US$9.5 million to the individual Series A share.

Upon any voluntary or involuntary liquidation, dissolution or winding-up of the Company, and assuming non-conversion of any preferred shares, the Series A holder will be entitled to receive the first approximately $9.5 million of proceeds if such event is treated as an asset sale. Series B will then be entitled to receive the next

approximately $53.5 million and Series C holders will then be entitled to receive the next approximately $86.2 million (out of which $47.9 million is waived due to the transfer of shares of Etelequote Limited to TRGI - see Note 30.2). Series C and common shareholders will then be entitled to receive any proceeds in excess of $139.7 million. In the event that a liquidation event is treated as a stock sale, Series B and C Holders will be entitled to receive the first approximately $139.7 million of proceeds. Series A, Series C and common shareholders will then be entitled to receive any proceeds in excess of $139.7 million.

The holders of Preferred Convertible Shares shall be entitled to vote, together with the holders of Class A shares, as a single class on all matters submitted to the shareholders for a vote.

In the event that the Holding Company declares a dividend, the Company shall not declare nor pay any dividends or make any distribution upon other class of shares of the Company until and unless the Company has declared and paid aggregate dividends of at least US$9.5 million with respect to the individual Series A share.

On any voluntary or involuntary liquidation, dissolution or winding-up of the Holding Company, and assuming non-conversion of any preferred shares, Series A holders will be entitled to receive the first approximately $9.5 million of proceeds in the event that such event is treated as an asset sale. Series B will then be entitled to receive the next approximately $53.5 million and Series C holders will then be entitled to receive the next approximately $86.2 million (out of which $47.9 million is waived due to the transfer of shares of Etelequote Limited to the parent Company TRGI see Note 30.2) of proceeds in excess of such $9.5 million, Series C and common holders will then be entitled to receive those proceeds in excess of such $139.7 million. In the event that the liquidation event is treated as a stock sale, Series B and C Holders will be entitled to receive the first approximately $139.7 million of proceeds. Series A, Series C and common holders will then be entitled to receive those proceeds in excess of such $139.7 million.

12.3. The additional paid in capital as of June 30, 2021 and June 30, 2020 is $158.2 million and $96.2 million respectively.

Additional paid in capital increased due primarily from initial public offering proceeds of $63.1 million less the payment of offering-related expenses of $1.2 million ($1.0 million paid in the year ended June 30, 2021 and $0.2 million paid in the fiscal year ended June 30, 2020).

12.4.During the year ended June 30, 2019, 459,325 of these preferred shares have been redeemed by paying $13.9 per share to 17^th Capital (comprised of $5.9 million principal and $0.4 million interest). The remaining $14 million is part of the disposal of the subsidiary during the year as included in Note 30.2.

12.5. Other Reserves

The nature and purpose of other reserves within equity is described below:

Reorganization reserve

Reorganization reserve consists of differences between the combined net asset values of subsidiaries from their separate financial statements and recognized share capital, under the pooling of interest method.

Share option plans

Weighted average cost of options / awards kept under the share option plans that pertain to the Group’s various subsidiaries.

Foreign currency translation reserve

Gain / losses arising on retranslating the net assets of overseas operations into presentation currency.

Actuarial gain on defined benefit scheme

Actuarial gain or losses represents adjustments to actuarial assumptions used to value defined benefit pension scheme obligations.

Accumulated deficit

The accumulated deficit increase from $109.5 million per end of June 30, 2020 to $110.7 million as of June 30, 2021. The decrease is due to the net income of the year ended June 30, 2021 amounting to $2.8 million offset by the payment of dividend of $4.0 million to the parent company.

BORROWINGS

12 Months Ended

Jun. 30, 2021

BORROWINGS [Abstract]

BORROWINGS

13. BORROWINGS


		June 30,	June 30,
	Note	2021	2020
		(US$’000)
Long-term other borrowings	13.1	6,205	9,783
Line of credit	13.2	22,312	21,475
		28,517	31,258
Less: Current portion of;
− long-term other borrowings	13.1	(4,404)	(6,001)
− line of credit	13.2	(22,312)	(21,475)
Less: Current portion of borrowings		(26,716)	(27,476)
Non-current portion of borrowings		1,801	3,782

13.1. Long-term other borrowings


		June 30,	June 30,
	Note	2021	2020
		(US$’000)
Financial Institutions
IBM Credit LLC	13.1.1	180	974
Hewlett-Packard Financial Services Co.	13.1.1	511	923
IPFS Corporation	13.1.2	1,008	759
Heritage Bank of Commerce	13.2.3	—	1,833
PNC Term loan	13.2.1	—	2,359
First Global Bank Limited Demand loan	13.1.3	3,149	2,935
JS Bank Limited	13.1.4	1,357	—
		6,205	9,783
Less: Current portion of long-term other borrowings		(4,404)	(6,001)
Non-current portion of long term other borrowings		1,801	3,782

13.1.1. The Group has financed the purchase of various property and equipment and software during the fiscal year 2021 and 2020 with IBM, HP and FGB. As of June 30, 2021 and 2020, the Group has financed $2.7 million and $4.5 million, respectively, of assets at interest rates ranging from 6% to 9.76% per annum.

13.1.2. The Group has financed its insurance policies with the IPFS Corporation with an interest rate of 4.6%.

13.1.3. In January 2018, the Group’s subsidiary IBEX Global Jamaica Limited entered into a $1.4 million non-revolving demand loan with First Global Bank Limited. The loan bears interest at a fixed rate of 7.0% per annum for the term of the loan, has a maturity date of January 2023, and is required to be repaid in 54 equal monthly installments (commencing six months after the drawdown date). The loan is guaranteed by IBEX Global Limited and secured by substantially all the assets of IBEX Global Jamaica Limited. The debenture under which IBEX Global Jamaica Limited granted security over its assets contains limitations on liens, the incurrence of debt and the sale of assets. As of June 30, 2021, the balance of the loan is $0.5 million (June 30, 2020: $0.8 million).

In November 2018, the Group’s subsidiary IBEX Global Jamaica Limited entered into a $1.2 million non-revolving demand loan with First Global Bank Limited. The loan bears a variable interest at 6-month LIBOR plus a margin of 5.26%, subject to a floor of 7.0% per annum, for the term of the loan. The loan is to be paid in 60 equal monthly installments, triggering a bullet payment after 36 months, with an option to renew for an additional 24 months, with an overall maturity in January 2023. The loan is guaranteed by IBEX Global Limited and secured by substantially all the assets of IBEX Global Jamaica Limited. The debenture under which IBEX Global Jamaica Limited granted security over its assets contains limitations on liens, the incurrence of debt and the sale of assets. As of June 30, 2021, the balance of the loan is $0.7 million (June 30, 2020: $0.9 million).

In October 2019, the Group’s subsidiary, IBEX Global Jamaica Limited, entered into a $0.8 million non- revolving demand loan with First Global Bank Limited. The loan bears a fixed interest rate of 7%. The loan is to be paid in 36 equal monthly instalments. The loan is guaranteed by IBEX Global Limited and secured by substantially all the assets of IBEX Global Jamaica Limited. The debenture under which IBEX Global Jamaica Limited granted security over its assets contains limitations on liens, the incurrence of debt and the sale of assets plus the assignment of peril insurance for the replacement value over the charged assets. As of June 30, 2021, the balance of the loan is $0.4 million (June 30, 2020: $0.6 million).

In March 2020, the Group’s subsidiary, IBEX Global Jamaica Limited, entered into a $0.6 million non-revolving demand loan and a $2.0 million non-revolving demand loan with First Global Bank Limited. Each loan bears

interest at a fixed rate of 7.0% per annum for the term of the loan. Each loan is to be paid in 36 equal monthly instalments, commencing 30 days after the first disbursement of loan funds. The loan is guaranteed by IBEX Global Limited and secured by substantially all of the assets of IBEX Global Jamaica Limited. The debenture under which IBEX Global Jamaica Limited granted security over its assets contains limitations on liens, the incurrence of debt and the sale of assets. As of June 30, 2021, the balance of the $0.6 million non-revolving demand loan is $0.4 million (June 30, 2020: $0.6 million). As of June 30, 2021, the balance of the $2 million non-revolving demand loan is $1.2 million (June 30, 2020: nil).

13.1.4. In May 2020, the Group’s subsidiary, IBEX Global Solutions (Pvt) Limited entered into a loan agreement with JS Bank Limited for a loan of $1.0 million (PKR165 million) under a government initiated wage and salary loan fund. The loan funds were received in July 2020. The loan bears 3% interest per annum with a two year term. Repayment of the loan commenced in January 2021, with monthly payments of principal and interest thereafter. The loan is guaranteed by the Group’s subsidiaries of Virtual World (Private) Limited and Ibex Global Bermuda Ltd. and is secured by the current and fixed assets of IBEX Global Solutions (Private) Limited, plus the receivables of IBEX Global Bermuda Ltd. As of June 30, 2021, the balance of the loan is $0.8 million (June 30, 2020: nil).

In May 2020, the Group’s subsidiary, Virtual World (Pvt) Limited entered into a loan agreement with JS Bank Limited for a loan of $0.8 million (PKR 120 million) under a government initiated wage and salary loan fund. The loan funds were received in July 2020. The loan bears 3% interest per annum with a two year term. Repayment of the loan commenced in January 2021, with monthly payments of principal and interest thereafter. The loan is guaranteed by the Group’s subsidiaries of IBEX Global Solutions (Pvt) Ltd. and IBEX Global Bermuda Ltd and is secured by the current and fixed assets, plus the assignment of certain receivables of Virtual World (Pvt) Limited. As of June 30, 2021, the balance of the loan is $0.6 million (June 30, 2020: nil).

13.2. Line of credit


		June 30,	June 30,
	Note	2021	2020
	(US$’000)
Financial Institutions
PNC Bank, N.A.	13.2.1	22,312	19,830
Seacoast Business Funding	13.2.2	—	220
Heritage Bank of Commerce	13.2.3	—	1,425
		22,312	21,475

13.2.1. In November 2013, the Group’s subsidiary, Ibex Global Solutions, Inc. (formerly known as TRG Customer Solutions, Inc.), entered into a three-year $35.0 million revolving credit facility (as amended, the “PNC Credit Facility”) with PNC Bank, N.A. (“PNC”). In June 2015, the maximum revolving advance amount under the PNC Credit Facility was increased to $40.0 million, with an additional $10.0 million of incremental availability (subject to PNC’s approval and satisfaction of conditions precedent) and the maturity date was extended to May 2020. In December 2018, the PNC Credit Facility maximum revolving advance amount was increased to $45.0 million. In May 2019, the PNC Credit Facility was amended to include the following: the maximum revolving advance amount was increased to $50.0 million, with an additional $10.0 million of availability (in $5.0 million increments) subject to satisfaction of conditions precedent, and the maturity date was extended to May 2023. In March 2021, the PNC Credit Facility was amended to join Digital Globe Services, LLC, TelSatOnline, LLC and 7 Degrees, LLC as borrowers, with the maximum revolving advance amount increased to $60 million. Borrowings under the PNC Credit Facility bear interest at LIBOR plus a margin of 1.75% and/or negative 0.5% of the PNC Commercial Lending Rate for domestic loans. The PNC Credit Facility is guaranteed by IBEX Global Limited and secured by substantially all the assets of Ibex Global Solutions, Inc.,

Digital Globe Services, LLC, TelSatOnline, LLC, and 7 Degrees, LLC. The line of credit balance as of June 30, 2021 is $22.3 million (June 30, 2020: $19.8 million), as presented in Note 13.2.

In June 2016, the PNC Credit Facility was amended to add a Term Loan A of $6.0 million, which was drawn down in full, and a Term Loan B of $4.0 million (subject to satisfaction of conditions precedent), which was never drawn down and cancelled. In November 2016, the PNC Credit Facility was amended by adding a Term Loan C of $16.0 million which was drawn down in full with $6.0 million applied to repay in full Term Loan A. Term Loan C bears interest at LIBOR plus a margin of 4.00% and is required to be repaid in 54 equal monthly instalments (commencing January 1, 2017). Term Loan C balance as of June 30, 2021 is nil as the loan was fully repaid (June 30, 2020: $2.4 million).

13.2.2. In July 2011, a subsidiary of the Group, iSky, Inc., entered into a purchasing agreement (the “Seacoast Receivables Financing Agreement”) with the predecessor to Seacoast National Bank (“Seacoast”). Pursuant to the Seacoast Receivables Financing Agreement, Seacoast provides payment to iSky, Inc. for up to $1.5 million of accounts receivable owed to iSky, Inc. All payments from Seacoast to iSky, Inc. are subject to a discount of 1.0% for receivables outstanding 30 days or less and an additional 0.5% for each additional 15 days that such receivable is outstanding. The average discount during the fiscal year ended June 30, 2021 was approximately 1.8% (June 30, 2020: 1.2%) of net sales. Under the Seacoast Receivables Financing Agreement, Seacoast may also advance an amount up to 85% of iSky, Inc.’s receivables to iSky, Inc. at a rate of LIBOR plus 7.0%.

The Seacoast Receivables Financing Agreement requires iSky, Inc. to sell $0.2 million of receivables per month to Seacoast, subject to a penalty based on the discount fee if such minimum is not met. The Seacoast Receivables Financing Agreement is automatically renewed for successive 12-month periods unless terminated in accordance with its terms. As June 16, 2021, the company has terminated the Receivables Financing Agreement.

13.2.3. In March 2015, the Group’s subsidiaries, Digital Globe Services, Inc., TelSatOnline, Inc. and DGS EDU, LLC entered into a one-year $3.0 million loan and security agreement (the “HBC Loan Agreement”) with Heritage Bank of Commerce (“HBC”). In March 2016, the HBC Loan Agreement was amended to increase the credit line capacity to $5.0 million and extend its maturity date until March 31, 2018, subject to collateral review. In June 2017, the HBC Loan Agreement was amended to add an additional subsidiary, 7 Degrees LLC, as a borrower, along with extending the maturity date until March 31, 2019. In August 2018, the HBC Loan Agreement was amended to increase the accrued account advance rate and certain other terms along with extending the maturity date until March 31, 2021. In January 2019, HBC Loan Agreement was amended to exclude DGS EDU, LLC therefrom pursuant to its sale. Refer to Note 30.1. Borrowings under the HBC Loan Agreement bear interest at the Prime Rate plus a margin of 2.50%. The credit line is secured by substantially all the assets of Digital Globe Services, Inc., TelSatOnline, Inc., and 7 Degrees LLC. The line of credit balance as of June 30, 2021 was nil (June 30, 2020: $1.4 million), as presented in Note 13.2.

In March 2019, HBC Loan Agreement was amended to add a term loan of up to $2.0 million that bears interest at the Prime Rate plus a margin of 2.5%. The term loan is required to be repaid in 36 equal monthly installments (commencing April 2020) and will mature on March 1, 2023. On the term loan maturity date, all amounts owing shall be immediately due and payable. The term loan balance as of June 30, 2021 is nil (June 30, 2020: $1.8 million).

On February 25, 2021, the Heritage Bank of Commerce term loan and the line of credit were paid in full and the line of credit was terminated.

13.3. In June 2015, the Group’s subsidiary, Ibex Global Solutions, Inc., entered into a supplier agreement with Citibank, N.A. (the “Citibank Receivables Financing Agreement”). Pursuant to the Citibank Receivables

Financing Agreement, Citibank provides payment to Ibex Global Solutions, Inc. for accounts receivable owed to Ibex Global Solutions, Inc. from one of our largest clients and its various subsidiaries and affiliates located in the United States. All payments from Citibank to Ibex Global Solutions, Inc. are subject to a discount charge. The discount rate used to calculate the discount charge is the product of (i) the LIBOR rate for the period most closely corresponding to the number of days in the period starting from and including the date the proceeds are remitted by Citibank to Ibex Global Solutions, Inc. (the “Discount Acceptance Period”) plus 1.40% per annum and (ii) the Discount Acceptance Period divided by 360. The discount charge during the fiscal year ended June 30, 2021 and 2020 averaged approximately 0.17% and 0.33% of net sales, respectively.

13.4. Changes in liabilities arising from financing activities:


	June 30,	June 30,	June 30,
	2021	2020	2019
	(US$’000)
Balance of debt, July 1,	105,970	118,253	62,958
Changes from operating cash flows	(827)	(3,379)	458
Changes from financing cash flows	(26,018)	(33,746)	10,124
New leases	31,790	24,295	89,771
Non-cash item - disposal of subsidiary	—	—	(43,431)
Foreign exchange movement	1,601	547	(1,627)
Balance of debt, June 30,	112,516	105,970	118,253

13.5. In June and July 2017, e-Telequote Insurance, Inc. issued $9.1 million and 1.0 million respectively, aggregate principal amount of 12.0% Senior Secured Notes due June 12, 2018 (the “2017 ETQ Notes”), guaranteed by TRGI, with an option of early settlement by the borrower. In May 2018, e-TeleQuote Insurance Inc. renewed the facility and expanded the loan to $15.0 million on the same terms maturing on May 15, 2019. During the year ended June 30, 2019, the loan notes were paid in full.

OTHER NON-CURRENT LIABILITIES

12 Months Ended

Jun. 30, 2021

OTHER NON-CURRENT LIABILITIES [Abstract]

OTHER NON-CURRENT LIABILITIES

14. OTHER NON-CURRENT LIABILITIES


		June 30,	June 30,
	Note	2021	2020
		(US$’000)
Defined benefit scheme	14.1	950	677
Warrant liability	28	7,784	3,889
Phantom stock plan	19.2	514	411
Other	14.2	1,890	2,081
		11,138	7,058

14.1. Defined benefit scheme

Two of the Group subsidiaries (“the Subsidiaries”) operate an unfunded defined benefit plan for qualifying employees. Under this plan, the employees are entitled to one half month’s salary for every year of service, with six months or more of service considered as one year. One half month’s salary has been defined to include the following:

●	15 days salary based on the latest salary rate,

●	cash equivalent to 5 days service incentive leave, and,

●	one - twelfth of the 13th month’s pay.

An employee is entitled to retirement benefits only upon attainment of a retirement age of 60 years and completion of at least five years of previously credited service. No other post-retirement benefits are provided to these employees. The most recent actuarial valuations of the present value of the defined benefit obligation were carried out on June 30, 2021. The present value of the defined benefit obligation, and the related current service cost and past service cost, were measured using the projected unit credit method.

The principal assumptions used for the purposes of the actuarial valuations are as follows:


	June 30,		June 30,
	2021		2020
	%		%
Discount rates	4.87	%	3.98	%
Expected rate of salary increase	3.00	%	2.00	%

Amounts recognized in the consolidated statement of profit or loss and other comprehensive income in respect of defined benefit scheme are as follows:


	June 30,	June 30,	June 30,
	2021	2020	2019
	(US$’000)
Current service cost	209	100	107
Interest on obligation	19	21	22
Total	228	121	129

The amount included in the statement of financial position in other non-current liabilities arising from defined benefit obligations is as follows:


	June 30,	June 30,
	2021	2020
	(US$’000)
Present value of unfunded defined benefit obligation	950	677
Net liability arising from defined benefit obligation	950	677

The movement in the present value of the defined benefit obligation in the current year is as follows:


	June 30,	June 30,
	2021	2020
	(US$’000)
Present value of defined benefit obligation at the beginning of the year	677	356
Foreign exchange movements	19	16
Current service cost	209	100
Interest cost	19	21
Actuarial gains	26	184
Present value of defined benefit obligation at the end of the year	950	677

The subsidiaries are yet to contribute to the plan asset as of June 30, 2021.

14.2. This includes deferred social security payment amounting to $1.1 million as of June 30, 2021 (June 30, 2020: $1.8 million). For more detail refer to Note 24.

TRADE AND OTHER PAYABLES

12 Months Ended

Jun. 30, 2021

TRADE AND OTHER PAYABLES [Abstract]

TRADE AND OTHER PAYABLES

15. TRADE AND OTHER PAYABLES


		June 30,	June 30,
	Note	2021	2020
		(US$’000)
Trade creditors		5,976	10,354
Accrued expenses		11,784	12,060
Accrued compensation	15.1	29,678	30,009
Cash flow hedge	15.2	316	518
Warrant liability	28	5,837	—
Others		1,272	272
		54,863	53,213

15.1. Accrued compensation includes payroll and related costs as of June 30, 2021.

15.2. This relates to change in fair value of interest rate swap and recognized in other comprehensive income. Refer Note 22.1.1.

CONTINGENCIES AND COMMITMENTS

12 Months Ended

Jun. 30, 2021

CONTINGENCIES AND COMMITMENTS [Abstract]

CONTINGENCIES AND COMMITMENTS

16. CONTINGENCIES AND COMMITMENTS

16.1. Contingencies

The Group is subject to claims and lawsuits filed in the ordinary course of business. Although management does not believe that any such proceedings other than those noted below will have material adverse effect going forward, no assurances to that effect can be given based on the uncertainty of litigation and demands of third parties. The Group only records a liability for pending litigation and claims where losses are both probable and can be reasonably estimated.

16.1.1. The significant claims or legal proceedings against subsidiaries of the Group are as follows:

A case was filed in November 2014 in the US District Court of Tennessee as a collective action under the US Fair Labor Standards Act (FLSA) and Tennessee law, alleging that plaintiffs were forced to work without being paid for the “off the clock” time. In December 2014, a similar FLSA collection action case was filed against IBEX Global Solutions in the US District Court for the District of Columbia. In February 2015, the two cases were consolidated in Tennessee (the “Consolidated Action”) and plaintiffs agreed to submit all claims to binding arbitration before the American Arbitration Association. Presently, there are approximately 3,500 individuals who have opted into the FLSA class action claims, and there are pending wage and hour class action claims under various state laws (“Rule 23 Claims”) involving approximately 21,000 potential class action claimants. In April 2019, the parties engaged in a Mediation. On June 14, 2019, the parties entered into a Settlement Agreement, which was approved by the arbitrator on June 19, 2019. Pursuant to the Settlement Agreement, all claimants under both the FLSA and the Rule 23 Claims were required to fill out and send a claim form to the Third-Party Administrator within the claim period ending on October 15, 2019 in order to receive funds under the settlement. Subsequent to June 30, 2019, Ibex funded $3.4 million toward the settlement fund provided under the Settlement Agreement. This amount covered 100% of the possible claims under the FLSA, as well as plaintiffs’ attorney fees, administration costs and service awards. These amounts exclude any amounts for the Rule 23 Claims. Any funds not claimed pursuant to the FLSA portion of the settlement will revert to Ibex. Pursuant to the Settlement Agreement, there is $2.2 million allocated to the settlement of claims for the Rule 23 class members. The exact amount of recovery with respect to the Rule 23 Claims depends upon the claim forms properly and timely returned to the Third-Party Administrator. The claim period closed on October 15, 2019 and as of that date, claim forms properly and timely returned for the Rule 23 Class Members accounted for $1.2 million of the $2.2 million allocated funds for the Rule 23 class. On November 7, 2019, the parties appeared before the Arbitrator and the Arbitrator approved the Final Order. On November 20, 2019, payment was made by the Company to the Qualified Settlement Fund in the amount of $1.2 million for payment in full of all Rule 23 Claims and any Company tax obligations for payments to such individuals, and the matter is effectively closed. On July 15, 2020 this matter was dismissed with prejudice pursuant to an Agreed Stipulation of Dismissal with Prejudice.

On July 26, 2018, Digital Globe Services, Inc. received an indemnification notice related to AllConnect, Inc. v. Kandela LLC Case No. 2:18-cv-05959SJO (SSx) pending in the U.S. District Court for the Central District of California, Wester Division, relating to patent infringement for certain call center search for services capabilities provided by Digital Globe Services, Inc. under the Dealer Network Agreement entered into in 2014 between Kandela LLC and Digital Globe Services, Inc. via its “BundleDealer.com” portal. On June 03, 2020, AllConnect, Inc. and Kandela LLC entered into a settlement agreement, and Digital Globe Services, Inc. agreed to pay $0.03 million of Kandela LLC’s legal fees and expenses incurred in connection with Kandela LLC’s defense of the matter. On June 5, 2020, pursuant to settlement and joint stipulation, the court dismissed the claims of AllConnect with prejudice.

Case filed in District of Columbia Superior Court against IBEX Global Solutions by a former employee of IBEX’s Philippines affiliate, IBEX Global Philippines, alleging that he was harassed, discriminated against and ultimately terminated due to his religion and personal appearance in violation of the D.C. Human Rights Act, and seeking unspecified damages on November 29, 2016. In the fourth quarter of fiscal year 2021, Plaintiff and Company agreed to a total settlement of $0.9 million, payment was made in full settlement of the case, and the case was dismissed with prejudice.

In addition, the Company is subject to other routine legal proceedings, claims, and litigation in the ordinary course of its business. Defending lawsuits requires significant management attention and financial resources and the outcome of any litigation, including the matters described above, is inherently uncertain. The Company does not, however, currently expect that the costs to resolve these routine matters will have a material adverse effect on its consolidated financial position, results of operations, or cash flows.

16.2. Commitments

16.2.1. IBEX Global Solutions Limited has an annual telecommunication service commitment with two of its carriers. The carrier agreement was signed in September 2020 for a three-year term with a minimum annual commitment for $0.450 million and it is expected to be renewed in September 2023. A second carrier agreement signed in August of 2021 for a three-year term with a minimum commitment of $0.03 million per month.

16.2.2. IBEX Global Solutions Limited is also subject to early termination provisions in certain telecommunications contracts, which if enforced by the telecommunications providers, would subject IBEX Global Solutions to the obligation to pay early termination fees. To date, these early termination provisions have not been triggered by IBEX Global Solutions and in most cases would be equal to the unfulfilled terms of the contract.

16.2.3. On November 27, 2017, PNC Bank, NA issued an irrevocable standby letter of credit for the amount of $0.4 million in favor of the Group’s subsidiary TRG Customer Solutions, Inc. to the benefit of Digicel (Jamaica) Limited to guarantee the payment of base rent for the property rented by the Group’s subsidiary IBEX Global Jamaica Limited. With effect from March 1, 2018, the amount of the irrevocable standby letter of credit was increased to $0.5 million. The letter of credit was renewed on December 13, 2019 for one year which expired on December 13, 2020. The letter of credit was not further renewed.

FINANCE EXPENSES

12 Months Ended

Jun. 30, 2021

FINANCE EXPENSES [Abstract]

FINANCE EXPENSES

17. FINANCE EXPENSES


	June 30,	June 30,	June 30,
	2021	2020	2019
	(US$’000)
Interest on borrowings	1,756	2,453	2,858
Factoring Fees	73	186	242
Finance charges - right of use assets	7,078	6,457	4,394
Bank charges	127	332	215
Total	9,034	9,428	7,709

Finance expenses from discontinued operations	—	—	5,674

INCOME TAXES

12 Months Ended

Jun. 30, 2021

INCOME TAXES [Abstract]

INCOME TAXES

18. INCOME TAXES

The major components of income tax expense are:


	June 30,	June 30,	June 30,
	2021	2020	2019
	(US$’000)
Current tax:
Current year	3,876	1,850	836
Change in estimates related to prior year	80	201	(21)
	3,956	2,051	815
Deferred tax:
Origination and reversal of temporary differences	(2,062)	1,923	8,427
Changes in tax rates	24	270	(124)
Recognition of previously unrecognized tax losses	—	(1,907)	(702)
Recognition of previously unrecognized net deductible temporary differences	—	(22)	29
	(2,038)	264	7,630

Total expense for the year	1,918	2,315	8,445

Income tax expense is attributable to:


	June 30,	June 30,	June 30,
	2021	2020	2019
	(US$’000)
	1,918	2,315	3,615
Income tax expense from discontinued operations	—	—	4,830
Total	1,918	2,315	8,445

The Group’s U.S. tax provision include the following U.S. entities: Ibex Global Solutions, Inc., Digital Globe Services, Inc., iSky Inc. and e-Telequote Insurance, Inc. which file separate income tax returns in the US. The Group’s tax provision also include various foreign subsidiaries based in the UK, EU, Canada, Jamaica, Nicaragua, Pakistan, Senegal, and Philippines. These entities file income tax returns in their respective jurisdictions. No income tax provision has been calculated for holding companies (the Holding Company, IBEX Global Limited, DGS Limited and Etelequote Limited), as they are Bermuda based and there is no corporate income tax in Bermuda.

As a result of re-organization, Digital Globe Services, Inc. and TelSatOnline, Inc. were converted into single-member US LLCs on March 1, 2021 and placed under Ibex Global Solutions, Inc. Ibex Global Solutions, Inc. will include results of these entities on its US tax returns.

Deferred tax expense for the year ended June 30, 2020 includes a non-recurring benefit of $0.6 million related to change in revenue and related costs recognition under IFRS15 - Revenue from contracts with customers. Furthermore, deferred tax expense for the year ended June 30, 2019 includes a non-recurring expense of $3.1 million on cancellation of legacy ESOP plan.

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes, as well as net operating losses and tax credit carry forwards. Deferred tax assets and liabilities are measured using the enacted tax rates that will apply to taxable income in the periods the deferred tax item is expected to be settled or realized. The tax effects of the Group’s temporary differences and carry forwards are as follows:

Tax effect of deductible / (taxable) temporary differences


	June 30,	June 30,
	2021	2020
	(US$’000)
Deductible temporary differences:
− Provisions and write-offs against accounts receivable	30	85
− Unpaid accrued expenses / compensation	3,413	687
− Net operating losses	834	1,629
− Property and equipment	385	348
− Lease liability (right of use assets)	5,692	5,101
	10,354	7,850
Taxable temporary differences:
− Property and equipment	(133)	(105)
− Right of use assets	(5,097)	(4,661)
− Intangible assets	(958)	(978)
	(6,188)	(5,744)
Net deferred tax assets	4,166	2,106

	June 30,	June 30,
	2021	2020
	(US$’000)
Deferred tax asset	4,252	2,223
Deferred tax liability	(86)	(117)
	4,166	2,106

Movement in deferred tax assets / (liability):


	June 30,	June 30,
	2021	2020
	(US$’000)
Opening deferred tax assets	2,106	2,370
Deferred tax benefits / (expense)	2,038	(264)
Foreign exchange and other rate differences	22	—
Net deferred tax assets	4,166	2,106

A deferred tax asset has not been recognized for the following gross amounts:


	June 30,	June 30,
	2021	2020
	(US$’000)
Unused tax losses	26,575	25,320
Deductible temporary differences	81	253
Unused tax losses and deductible differences - unrecognized	26,656	25,573

Deferred tax asset arising on the above amounts has not been recognized in these consolidated financial statements, as the management is of the prudent view that it is not probable that sufficient taxable profit will be available in the foreseeable future against which these temporary differences and unused tax losses can be utilized. Other factors considered include cumulative losses in recent years and non-existence of future reversals of existing taxable temporary differences. The unused tax losses will begin to expire in 2027.

At June 30, 2021, the Group’s US federal and state net operating loss carry forward for income tax purposes are $15.9 million (June 30, 2020: $20.6 million) and $36.7 million (June 30, 2020: $26.6 million) respectively which will begin to expire in 2030. The Group’s Canadian subsidiary has net operating loss carry forward of $2.3 million (June 30, 2020: $2.2 million), expiring over the period 2028 through 2038. The Group’s UK and European subsidiaries have net operating loss carry forward of $4.3 million (June 30, 2020: $3.9 million) which can be carried forward indefinitely. The Group’s Luxembourg subsidiary has net operating loss of $1.2 million (June 30, 2020: $1.2 million) which will begin to expire in 2038. The Group’s subsidiary in Senegal has net operating loss carry forward of $2.7 million (June 30, 2020: $2.9 million) expiring over the period 2022 through 2025. These amounts are based on the income tax returns filed for the year ended June 30, 2020 and estimated amounts for the year ended June 30, 2021.

During the fiscal year ended June 30, 2019, the Group’s subsidiary in Luxembourg was challenged by the tax authorities on a certain tax exemption. Luxembourg tax authorities issued an assessment for tax year 2014, denying the exemption. The Group filed a petition to Luxembourg tax office to challenge this position. In response to formal petition, the Group received a revised tax assessment from Luxembourg tax authorities on June 17, 2020. Luxembourg tax authorities have accepted Group’s tax position and allowed the tax exemption.

The Group is subject to income tax in several jurisdictions and significant judgment is required in determining the provision for income taxes. During the ordinary course of business, there are transactions and calculations for which the ultimate tax determination is uncertain. As a result, the Group recognizes tax liabilities based on estimates of whether additional taxes and interest will be due. The Group has adopted IFRIC 23 effective from July 1, 2019 and reassessed its judgments and estimates related to income tax treatments in various jurisdictions. There are no material uncertain tax treatments that would require adjustment to the income tax expense.

There are no income tax consequences attached to the payment of dividends by the Group to its shareholders.

Reconciliation of effective tax rate

Below is a reconciliation of tax expense and the accounting profit. As the Group’s key income generating operations are based in the US, United States blended federal income tax rate of 21% is used for the purpose of this reconciliation:


	June 30,	June 30,	June 30,
	2021	2020	2019
	(US$’000)
Profit / (loss) for the year	2,847	7,770	10,965
Income tax expense / (benefit)	1,918	2,315	8,445
Net profit / (loss) before income tax	4,765	10,085	19,410


	June 30,		June 30,	June 30,		June 30,	June 30,		June 30,
	2021		2021	2020		2020	2019		2019
	(%)		(US$’000)	(%)		(US$’000)	(%)		(US$’000)

Income tax expense using the applicable tax rate	21.0	%	1,001	21.0	%	2,118	21.0	%	4,230
State taxes (net of federal tax effect)	7.3	%	349	12.9	%	1,303	5.3	%	1,073
Effect of tax and exchange rates in foreign jurisdictions	3.7	%	175	(7.7)	%	(776)	5.1	%	1,043
Foreign subsidiaries taxed at lower rate or tax exempt	22.3	%	1,064	1.9	%	191	(1.9)	%	(380)
Non-deductible expenses / exempt income	5.4	%	256	3.3	%	328	2.3	%	470
Employment and other tax credits	(20.3)	%	(967)	—	%	—	—	%	—
Cancellation of legacy ESOP plan	—	%	—	—	%	—	15.2	%	3,104
Effect of disposal of subsidiaries	—	%	—	—	%	—	(2.0)	%	(403)
Prior year provision / other items	(3.8)	%	(180)	(3.2)	%	(320)	0.4	%	73
Unrecognized losses utilized during the year	—	%	—	10.1	%	1,018	—	%	—
Change in unrecognized temporary differences	4.6	%	220	(15.3)	%	(1,547)	(3.7)	%	(765)
	40.2	%	1,918	23.0	%	2,315	41.7	%	8,445

SHARE OPTION PLANS

12 Months Ended

Jun. 30, 2021

SHARE OPTION PLANS [Abstract]

SHARE OPTION PLANS

19. SHARE OPTION PLANS

The share-based payments expenses in the consolidated statements of profit or loss and other comprehensive income consist of the following:


	June 30,	June 30,	June 30,
	2021	2020	2019
	(US$’000)
Cash settled:
Phantom Stock Plan	851	(31)	(300)

Equity settled:
2017 IBEX Stock Plan	—	—	4,132
2018 Restricted Stock Awards (RSA)	45	95	255
2020 Long term Incentive Plan	3,625	295	—
	3,670	390	4,387

Total	4,521	359	4,087

Share-based payments from discontinued operations	—	—	875

19.1. 2017 IBEX Stock Plan

On June 20, 2017, our board of directors and shareholders approved and adopted the Holding Company’s 2017 Stock Plan, as amended and restated on October 6, 2017 (the ‘‘2017 IBEX Plan’’). On February 21, 2018, the Company amended and restated its 2017 Stock Plan, increasing the maximum number of common shares of the Company that may be issued from 1,798,019 to 2,559,323.

On March 16, 2018, we effectuated a 1.11650536356898-to-1 reverse share split.

On December 28, 2018, the 2017 IBEX Plan was terminated and all grants awarded thereunder were cancelled.

Purpose

We believe that the 2017 IBEX Plan will enable us to attract and retain the best available personnel for positions of substantial responsibility, to provide additional incentive to our employees, consultants and directors, and to promote the success of our business.

Types of Awards

The 2017 IBEX Plan provides for grants of stock options and restricted stock awards.

Eligibility

Selected employees, consultants or directors of our company or our affiliates will be eligible to receive non-statutory stock options and restricted stock awards under the 2017 IBEX Plan, but only employees of our company will be eligible to receive incentive stock options.

Administration

The 2017 IBEX Plan is administered by our board of directors, a committee (or subcommittee) appointed by our board of directors, or any combination, as determined by our board of directors. Subject to the provisions of the 2017 IBEX Plan and, in the case of a committee (or subcommittee), the specific duties delegated by our board of directors to such committee (or subcommittee), the administrator has the authority to, among other things, determine the per share fair market value of our common shares, select the individuals to whom awards may be granted; determine the number of shares covered by each award, approve the form(s) of agreement(s) and other related documents used under the 2017 IBEX Plan, determine the terms and conditions of awards, amend outstanding awards, establish the terms of and implement an option exchange program, and construe and interpret the terms of the 2017 IBEX Plan and any agreements related to awards granted under the 2017 IBEX Plan. Our board of directors may also delegate authority to one of more of our officers to make awards under the 2017 IBEX Plan.

Available Shares

The number of common shares that we may issue with respect to awards granted under the 2017 IBEX Plan will not exceed an aggregate of 2,559,323. This limit may be adjusted to reflect certain changes in our capitalization, such as share splits, reverse share splits, share dividends, recapitalizations, rights offerings, reorganizations, mergers, consolidations, spin-offs, split-ups and similar transactions. If an award expires or becomes unexercisable for any reason without having been exercised in full, or is surrendered pursuant to an option exchange program, the common shares subject to such award will be available for further awards under the 2017 IBEX Plan. Common shares used to pay the exercise or purchase price of an award or tax obligations will be treated as not issued and will continue to be available under the 2017 IBEX Plan. Common shares issued under the 2017 IBEX Plan and later forfeited to us due to the failure to vest or repurchased by us at the original purchase price paid to us for such common shares will again be available for future grant under the 2017 IBEX Plan.

Award Agreements

Awards granted under the 2017 IBEX Plan will be evidenced by award agreements, which need not be identical and which will be modified to the extent necessary to comply with applicable law in the relevant jurisdiction of the respective participant, that provide additional terms of the award, as determined by the administrator.

Stock Options

The 2017 IBEX Plan allows the administrator to grant incentive stock options, as that term is defined in section 422 of the Internal Revenue Code, or non-statutory stock options. Only our employees may receive incentive stock option awards. The term of each option may not exceed ten years, or five years in the case of an incentive stock option granted to a ten percent shareholder. No incentive stock option or non-qualified stock option may have an exercise price less than the fair market value of a common share at the time of grant or, in the case of an incentive stock option granted to a ten percent shareholder, 110% of such share’s fair market value. Options will be exercisable at such time or times and subject to such terms and conditions as determined by the administrator at grant and the exercisability of such options may be accelerated by the administrator.

Restricted Stock

The 2017 IBEX Plan allows the administrator to grant restricted stock awards. Once the restricted stock is purchased or received, the participant will have the rights equivalent to those of a holder of our common shares, and will be a record holder when his or her purchase and the issuance of the common shares is entered upon the records of our duly authorized transfer agent. Unless otherwise determined by the administrator, we will have a right to repurchase any grants of restricted stock upon a recipient’s voluntary or involuntary termination of employment for any reason at a price equal to the original purchase price of such restricted stock.

Stockholder Rights

Except as otherwise provided in the applicable award agreement, and with respect to an award of restricted stock, a participant will have no rights as a shareholder with respect to common shares covered by any award until the participant becomes the record holder of such common shares.

Amendment and Termination

Our board of directors may, at any time, amend or terminate the 2017 IBEX Plan but no amendment or termination may be made that would materially and adversely affect the rights of any participant under any outstanding award, without his or her consent.

Transferability

Subject to certain limited exceptions, awards granted under the 2017 IBEX Plan may not be sold, pledged, assigned, hypothecated, transferred or disposed of in any manner other than by will or by the laws of descent or distribution.

Effective Date; Term

The 2017 IBEX Plan became effective on June 20, 2017 and will expire on June 20, 2027 unless terminated earlier by the board of directors.

In December 2017, the Group granted 1,778,569 stock options to its employees of which 480,128 were vested. The remaining options will vest over periods of three to four years. There were no restricted stock awards granted in the same period. The weighted average exercise price of stock options granted was $6.81.

The fair value of share options granted was determined to be $8.428 per option.

The Group estimates the fair value of its stock options on the date of the grant using the Black-Scholes option pricing model, which requires the use of certain estimates and assumptions that affect the reported amount of share-based compensation cost recognized in the profit or loss. These include estimates of the fair value of common shares, the expected term of stock options, expected volatility of the Holding Company’s common shares, expected dividends and the risk-free interest rate:

Fair value of common shares

The estimated fair value of the common shares underlying the share options has been determined to be $14.00 per share.

Expected term

The expected term of options granted is 4.92 years. The Group assumes all options will be exercised at the contractual term of the option.

Volatility

Management used an average volatility of comparable listed companies of 35.6% at the time of grant calculations.

Expected dividends

The Holding Company does not expect to pay any dividends in the future.

Risk-free rate

The risk-free rate is the continuously compounded United States nominal treasury rate corresponding to the term of the option. The average risk-free rate used for options granted was 2.26%.

On December 28, 2018, the 2017 IBEX Plan was terminated pursuant to Section 11 of the 2017 IBEX Plan. Pursuant to the termination of the Plan, all stock options under the 2017 IBEX Plan were cancelled. The Group recognized $4.9 million expense during the year ended June 30, 2019 including $3.2 million of additional expense to fully write off the plan.

19.2. Phantom Stock Plans

In February of 2018, each of IBEX Global Solutions (Private) Limited, DGS (Private) Limited, eTelequote (Private) Limited, IBEX Global Solutions (Philippines) Inc., IBEX Global ROHQ, IBEX Global Solutions Senegal S.A., and Virtual World (Private) Limited, and in March of 2018, each of IBEX Global Jamaica Limited, and IBEX Global Solutions Nicaragua SA adopted phantom stock plans (collectively, the ‘‘Phantom Stock Plans’’), which provide for grants of ‘‘phantom stock options’’ to certain of their executive officers and employees. Each Phantom stock option provides the participant with a contractual right to receive an amount equal to the difference between the fair market value of a vested common share of the Holding Company at the time of exercise and the exercise price of the option per share. In the event that the payment due to a grantee who has exercised an option exceeds $10,000, the relevant company may elect in its sole discretion to make payments in equal installments (without interest) over a period not exceeding three years, provided that each installment shall be no less than $10,000 (unless the residual amount is less than $10,000).

On December 28, 2018, the Board of Directors, pursuant to a provision in the Phantom Stock Plans terminated the Phantom Stock Plans for IBEX Global Solutions (Private) Limited, DGS (Private) Limited, eTelequote (Private) Limited, IBEX Global Solutions Senegal S.A., Virtual World (Private) Limited, and IBEX Global Solutions Nicaragua SA. All phantom stock options under these specific Phantom Stock Plans were cancelled upon termination of the identified Phantom Stock Plans. The Phantom Stock Plans for IBEX Global Solutions (Philippines) Inc., IBEX Global ROHQ, and IBEX Global Jamaica Limited remained in effect. The Group reversed the expense of $0.9 million of phantom stock in connection to forfeiture for vesting conditions not being met during the year ended June 30, 2019.

On February 1, 2021, we terminated the Phantom Stock Plan for IBEX Global ROHQ. All IBEX Global ROHQ plan participants and phantom stock options were transferred to the IBEX Global Solutions (Philippines) Inc. Phantom Stock Plan. The Phantom Stock Plans for IBEX Global Solutions (Philippines) Inc. and IBEX Global Jamaica Limited remain in effect. These plans were amended as restated as of February 16, 2021. The maximum number of phantom stock options available for issuance under the IBEX Global Solutions (Philippines) Inc. and IBEX Global Jamaica Limited plans are 400,000 and 200,000, respectively. These Phantom Stock Plans shall continue until the earlier of June 30, 2025 or termination by the Ibex Limited board of directors pursuant to the terms of the plan.

On February 2021, 167,935 options were issued under phantom stock plan with an exercise price of $20.86, 5,335 of the total options vests immediately and remaining option vests 25% initially and the remainder vesting equally on monthly basis over 36 months.

The Company has elected to use the Black-Scholes valuation to calculate the fair value of Phantom stock options. The Black-Scholes valuation model requires the use of certain estimates and assumptions that affect the fair value of options in the consolidated statement of profit or loss. These include the price per share, expected term, expected volatility, expected dividends and the risk-free interest rate.

Fair value of common shares

The fair value of the common shares is $19.52 per share as of June 30, 2021.

Expected term

The expected term of options granted is 1.65 - 5.66 years. In estimating the expected term, the subsidiary assumes all options will be exercised at the contractual term of the option.

Volatility

Management used an average volatility of comparable listed companies of 32.23% - 44.29%.

Expected dividends

The Holding Company does not expect to pay any dividends in the future.

Risk-free rate

The risk free rate is the continuously compounded United States nominal treasury rate corresponding to the term of the option. The risk free rate used for computation of fair value of options as of June 30, 2021 was 0.25% - 1.04%.

The fair value of options issued in February 2018, March 2018 and February 2021 is $5.53 - $12.82 per option as of June 30, 2021. A roll forward of the phantom options are as follows:


	2021		2020
	Weighted	Share	Weighted	Share
	average	Options	average	Options
	exercise price	(Number)	exercise price	(Number)
	(US$)		(US$)
Options outstanding as of beginning of the period	6.81	54,575	6.81	54,575
Options granted during the period	20.86	167,935	—	—
Options exercised during the period	6.81	(11,770)	—	—
Options forfeited / cancelled / expired during the period	—	—	—	—
Options outstanding as of end of the period	18.01	210,740	6.81	54,575

Options exercisable as of end of the period	12.90	95,660	6.81	45,684

The weighted average fair value of the Phantom stock options as of June 30, 2021 is $13.84 (June 30, 2020: $6.81). For the year ended June 30, 2021, the Subsidiaries recognized an expense of share-based payment amounting to $0.9 million (June 30, 2020: ($0.03) million). There were no Phantom Stock options with intrinsic value as of June 30, 2021. The liability under the Phantom stock option plan as of June 30, 2021 was $0.5 million and $0.6 million included as other non-current liabilities in Note 14 and payables in Note 15 respectively.

As of June 30, 2021, the unrecognized compensation expense associated with the phantom stock plan is $0.4 million and it will be recognized over 32 months from the end of June 30, 2021.

19.3. 2018 Restricted Stock Award Program

On December 21, 2018, our board of directors and shareholders approved and adopted the Holding Company’s 2018 Restricted Share Plan (the “2018 RSA Plan”). The following description of the 2018 RSA Plan is as follows.

Purpose

We believe that the 2018 RSA Plan will enable us to attract and retain the best available personnel for positions of substantial responsibility, to provide additional incentive to our employees, consultants and directors, and to promote the success of our business.

Types of Awards

The 2018 RSA Plan provides for grants of Restricted Share awards entitling recipients to acquire Class B Common Shares (“Restricted Shares”), subject to the right of the Holding Company to repurchase all or part of such Restricted Shares at their issue price or other stated or formula price (or to require forfeiture of such shares if issued at no cost) from the recipient in the event that conditions specified by our board of directors in the applicable Restricted Share award are not satisfied prior to the end of the applicable restriction period or periods established by our board of directors for such Restricted Share award.

Eligibility

Selected employees, consultants or directors of our company or our affiliates will be eligible to receive non-statutory Restricted Share awards under the 2018 RSA Plan, but only employees of our company will be eligible to receive incentive stock awards.

Administration

The 2018 RSA Plan is administered by our board of directors, a committee (or subcommittee) appointed by our board of directors, or any combination, as determined by our board of directors. Subject to the provisions of the 2018 RSA Plan and, in the case of a committee (or subcommittee), the specific duties delegated by our board of directors to such committee (or subcommittee), the administrator has the authority to, among other things, determine the per share fair market value of our common shares, select the individuals to whom awards may be granted; determine the number of shares covered by each award, approve the form(s) of agreement(s) and other related documents used under the 2018 RSA Plan, determine the terms and conditions of awards, amend outstanding awards, establish the terms of and implement an option exchange program, and construe and interpret the terms of the 2018 RSA Plan and any agreements related to awards granted under the 2018 RSA Plan. Our board of directors may also delegate authority to one of more of our officers to make awards under the 2018 RSA Plan.

Available Shares

Subject to adjustment, Restricted Share awards may be granted under the Plan for up to 2,559,323.13 Class B common shares, $0.000111650536 par value per Class B common share, of the Group (the “Class B Common Shares”). Restricted Shares issued under the 2018 RSA Plan may consist in whole or in part of authorized but unissued shares or treasury shares.

This limit may be adjusted to reflect certain changes in our capitalization, such as share splits, reverse share splits, share dividends, recapitalizations, rights offerings, reorganizations, mergers, consolidations, spin-offs, split-ups and similar transactions.

If any Restricted Share award expires or is forfeited in whole or in part (including as the result of Class B Common Shares subject to such Restricted Share award being repurchased by the Company pursuant to a contractual repurchase right or being forfeited back to the Company), the unused Class B Common Shares covered by such Restricted Share award shall again be available for the grant of Restricted Shares. Additionally, any Class B Common Shares delivered to the Company by a participant to either used to purchase additional Restricted Shares or to satisfy the applicable tax withholding obligations with respect to Restricted Shares (including shares retained from the Restricted Share award creating the tax obligation) shall be added back to the number of shares available for the future grant of Restricted Shares.

Restricted Shares

The board of directors may grant Restricted Share awards entitling recipients to acquire Class B Common Shares (“Restricted Shares”), subject to the right of the Company to repurchase all or part of such Restricted Shares at their issue price or other stated or formula price (or to require forfeiture of such shares if issued at no cost) from the recipient in the event that conditions specified by the board of directors in the applicable Restricted Share award are not satisfied prior to the end of the applicable restriction period or periods established by the board of directors for such Restricted Share award.

The board of directors shall determine the terms and conditions of a Restricted Share award, including the conditions for vesting and repurchase (or forfeiture) and the issue price, if any.

Stockholder Rights

Except as otherwise provided in the applicable award agreement, and with respect to an award of Restricted Shares, a participant will have no rights as a shareholder with respect to common shares covered by any award until the participant becomes the record holder of such common shares.

Amendment and Termination

Our board of directors may, at any time, amend or terminate the 2018 RSA Plan but no amendment or termination may be made that would materially and adversely affect the rights of any participant under any outstanding award, without his or her consent.

Transferability

Subject to certain limited exceptions, awards granted under the 2018 RSA Plan may not be sold, pledged, assigned, hypothecated, transferred or disposed of in any manner other than by will or by the laws of descent or distribution.

Effective Date; Term

The 2018 RSA Plan in December 2018 granted 2,373,374 shares, of which 721,596 shares vested on December 31, 2018. The remaining awards will vest between 13 months to 4 years, depending on the individual.

Fair value of common shares

The fair market value per share at the time of issuance was $0.61 which was derived from using the Monte Carlo simulation.

Expected term

The expected term of options granted is 3.84 years. The Group assumes all options will be exercised at the contractual term of the option.

Volatility

Management used an average volatility of comparable companies of 26.0%.

Expected dividends

The Holding Company does not expect to pay any dividends in the future.

Risk-free rate

The Company has bifurcated the 2018 RSA Plan into three categories based on the vesting conditions and vesting period of the Restricted Share awards:

●	2018 RSA Plan – Non-Executive Management

●	2018 RSA Plan Non-Performance – Executive Leadership Team

●	2018 RSA Plan Performance – Executive Leadership Team

2018 RSA Plan – Non-Executive Management

A summary of the Restricted Share awards (“RSAs”) outstanding and exercisable as of June 30, 2021 and June 30, 2020 are as follows:



	2021		2020
	Grant Date		Grant Date
	Fair Market	RSA	Fair Market	RSA
	Value	(Number)	Value	(Number)
	(US$)		(US$)
RSAs outstanding as of beginning of the period	0.61	650,193	0.61	916,929
RSAs granted during the period	0.61	280	—	—
RSAs exercised during the period	—	—	—	—
RSAs forfeited / cancelled / expired during the period	0.61	(12,088)	0.61	(266,736)
RSAs outstanding as of end of the period	0.61	638,385	0.61	650,193

RSAs vested as of end of the period	0.61	587,756	0.61	481,859

The 928,124 Restricted Share awards were granted under the 2018 RSA Plan in December 31, 2018 that vest over time, with an initial portion vesting at December 31, 2018 and the remainder vesting equally on a monthly basis for a period of 13 months to four years.

As of June 30, 2021 and June 30, 2020, 587,756, or 92.1% and 481,859, or 74.1% respectively, of the outstanding Restricted Share awards have vested. The Company recognized the amount of stock compensation expense for Restricted Share awards initially vesting on the first vesting date. The total expense recognized during the year ended June 30, 2021 and June 30, 2020 was $0.03 million and $0.1 million, respectively.

As of June 30, 2021, the unrecognized compensation expense associated with the Restricted Share awards was $0.006 million, and it will be recognized over the period of 9 months from the end of June 30, 2021.

2018 RSA Plan Non-Performance – Executive Leadership Team

Members of executive management are primarily based in the United States. All U.S.-based members of executive management have filed an 83(b) election, which provides that such equity be taxed by the Internal Revenue Service (the “IRS”) at the time of grant, rather than at the time of vesting and shall result in such Restricted Share awards being taxed as capital gains rather than ordinary income. All U.S. members of executive leadership team have purchased the Restricted Shares through a promissory note, which is subject to 3% interest (the “Notes”). The Notes are considered to be a related party loan (see Related Party Transactions, Note 23). The Notes are a 50% / 50% split between recourse and non–recourse, with the non-recourse portion being secured by those Restricted Shares issued to the borrower. The Group did not record the expense of the both recourse and non–recourse components.

A summary of the Restricted Share awards outstanding and exercisable as of June 30, 2021 and June 30, 2020 are as follows:


	2021		2020
	Grant Date		Grant Date
	Fair Market	RSA	Fair Market	RSA
	Value	(Number)	Value	(Number)
	(US$)		(US$)
RSAs outstanding as of beginning of the period	0.61	918,719	0.61	1,006,519
RSAs granted during the period	—	—	—	—
RSAs exercised during the period	—	—	—	—
RSAs forfeited / cancelled / expired during the period	—	—	0.61	(87,800)
RSAs outstanding as of end of the period	0.61	918,719	0.61	918,719

RSAs vested as of end of the period	0.61	844,452	0.61	647,702

The 970,893 Restricted Share awards were granted under the 2018 RSA Plan in December 31, 2018 that vest over time, with an initial portion vesting at December 31, 2018 and the remainder vesting equally on a monthly basis for a period of 24 months to four years.

As of June 30, 2021 and June 30, 2020, 844,452, or 91.9% and 647,702, or 70.5%, respectively, of the outstanding Restricted Share awards have vested.

2018 RSA Plan Performance – Executive Leadership Team

Performance-based Restricted Share awards vest based on certain performance criteria, which are:

●	the consummation of a successful initial public offering on or before December 31, 2019: The restricted shares allotted to this criteria are 170,680.

●	an initial public offering of the Group’s class A common shares, and thereafter, the average price per share traded in such public market equals or exceeds $17.42 per share at any point in time: The restricted shares allotted to this criteria are 103,264.

●	meeting specific revenue and EBITDA targets during the period from January 1, 2019 to December 31, 2019: The restricted shares allotted to this criteria are 10,000.

A summary of the Restricted Share awards outstanding and exercisable as of June 30, 2021 and June 30, 2020 are as follows:


	2021		2020
	Grant Date		Grant Date
	Fair Market	RSA	Fair Market	RSA
	Value	(Number)	Value	(Number)
	(US$)		(US$)
RSAs outstanding as of beginning of the period	0.61	272,748	0.61	449,926
RSAs granted during the period	—	—	—	—
RSAs exercised during the period	—	—	—	—
RSAs forfeited / cancelled / expired during the period	—	—	0.61	(177,178)
RSAs outstanding as of end of the period	0.61	272,748	0.61	272,748

RSAs vested as of end of the period	0.61	207,961	0.61	46,809

As of June 30, 2021 and June 30, 2020, 207,961, or 76.3% and 46,809, or 17.2%, respectively, of the outstanding Restricted Share awards have vested.

On December 23, 2019, the Company entered into amendments to the restricted share awards with certain members of management and directors (the ‘2019 RSA Amendments’) covering an aggregate of 103,264 restricted common shares. The terms of the original restricted share awards provided for vesting upon an initial public offering on a public exchange in the United States by December 31, 2019. The 2019 RSA Amendments provide for an extension of the date by which such initial public offering must occur to June 30, 2020. There would be no change in the fair value per share due to the modification. These RSA agreements were further amended on June 30, 2020 as referred below:

On January 28, 2020, the board of directors of the Company deemed certain performance triggers to be achieved with respect to restricted share awards with certain members of management and directors (the ‘2020 RSA Amendments’) covering an aggregate of 67,176 restricted common shares. The terms of the valuation trigger associated with such RSAs were not modified. The fair value of certain of the common shares subject to the RSAs were not changed due to the modification.

On May 20, 2020, the Board of Directors approved extraordinary payment to the members of executive management, in the amount set forth for each individual, to be paid directly to the Company in satisfaction in full of the Promissory Note entered into by each individual at the time of issuance of Restricted Stock Award Plan, including a tax gross up to cover any tax implications that may result from repayment of such loan on behalf of the individual which shall be withheld and paid directly to the IRS and that such Promissory Note shall be effectively cancelled upon payment.

On June 30, 2020, the Company entered into further amendments to the restricted share awards with certain members of management and directors (the ‘2020 RSA Amendments’) covering an aggregate of 78,264 restricted common shares. The terms of the original restricted share awards (amended by 2019 RSA amendments) provided for vesting upon an initial public offering on a public exchange in the United States by June 30, 2020. The 2020 RSA Amendments provide for an extension of the date by which such initial public offering must occur to December 31, 2020. The fair value per share were not changed due to this modification.

The Group will not issue further shares under this 2018 RSA plan and the remaining shares of 707,535 were transferred to the 2020 Long Term Incentive Plan (Note 19.4) on May 20, 2020.

Please refer to Note 30.2 for the Restricted Share awards repurchased from Etelequote Limited employees during the year ended June 30, 2020.

19.4. Long term incentive plan

On May 20, 2020, our board of directors and shareholders approved and adopted the Holding Company’s 2020 Long Term Incentive Plan (the “2020 LTIP”). The following description of the 2020 LTIP is as follows.

Purpose

We believe that the 2020 LTIP will enable us to attract and retain the best available personnel for positions of substantial responsibility, to provide additional incentive to our employees, consultants and directors, and to promote the success of our business.

Types of Awards

The 2020 LTIP provides for grants of stock options and stock awards.

Eligibility

Selected employees, consultants or directors of our company or our subsidiaries will be eligible to receive non-statutory Restricted Share awards under the 2020 LTIP, but only employees of our company will be eligible to receive incentive stock awards.

Administration

The 2020 LTIP is administered by our administrator appointed by our board of directors, or any combination, as determined by our board of directors. Subject to the provisions of the 2020 LTIP and, in the case of a committee (or subcommittee), the specific duties delegated by our board of directors to such committee (or subcommittee), the administrator has the authority to, among other things, determine the per share fair market value of our common shares, select the individuals to whom awards may be granted; determine the number of shares covered by each award, approve the form(s) of agreement(s) and other related documents used under the 2020 LTIP, determine the terms and conditions of awards, amend outstanding awards, establish the terms of and implement an option exchange program, and construe and interpret the terms of the 2020 LTIP and any agreements related to awards granted under the 2020 LTIP. Our board of directors may also delegate authority to one of more of our officers to make awards under the 2020 LTIP.

Available Shares

The number of common shares that we may issue with respect to awards granted under the 2020 LTIP will not exceed an aggregate of 1,287,326.13. This limit may be adjusted to reflect certain changes in our capitalization, such as share splits, reverse share splits, share dividends, recapitalizations, rights offerings, reorganizations, mergers, consolidations, spin-offs, split-ups and similar transactions. If an award expires or becomes unexercisable for any reason without having been exercised in full, or is surrendered pursuant to an option exchange program, the common shares subject to such award will be available for further awards under the 2020 LTIP. Common shares used to pay the exercise or purchase price of an award or tax obligations will be treated as not issued and will continue to be available under the 2020 LTIP. Common shares issued under the 2020 LTIP and later forfeited to us due to the failure to vest or repurchased by us at the original purchase price paid to us for such common shares will again be available for future grant under the 2020 LTIP.

Stock Options

The 2020 LTIP allows the administrator to grant incentive stock options, as that term is defined in section 422 of the Internal Revenue Code, or non-statutory stock options. Only our employees may receive incentive stock option awards. The term of each option may not exceed ten years. No incentive stock option or non-qualified stock option may have an exercise price less than the fair market value of a common share at the time of grant. Options will be exercisable at such time or times and subject to such terms and conditions as determined by the administrator at grant and the exercisability of such options may be accelerated by the administrator.

Restricted Stock

The 2020 LTIP allows the administrator to grant restricted stock awards. Once the restricted stock is purchased or received, the participant will have the rights equivalent to those of a holder of our common shares, and will be a record holder when his or her purchase and the issuance of the common shares is entered upon the records of our duly authorized transfer agent. Unless otherwise determined by the administrator, we will have a right to repurchase any grants of restricted stock upon a recipient’s voluntary or involuntary termination of employment for any reason at a price equal to the original purchase price of such restricted stock.

Stockholder Rights

Amendment and Termination

Our board of directors may, at any time, amend or terminate the 2020 LTIP but no amendment or termination may be made that would materially and adversely affect the rights of any participant under any outstanding award, without his or her consent.

Transferability

Subject to certain limited exceptions, awards granted under the 2020 LTIP may not be sold, pledged, assigned, hypothecated, transferred or disposed of in any manner other than by will or by the laws of descent or distribution.

Fair value of common shares

The fair value of the common shares is $19.52 per share as of June 30, 2021.

Expected term

The expected term of options granted is 5.3 – 10.0 years. In estimating the expected term, the subsidiary assumes all options will be exercised at the contractual term of the option.

Volatility

Management used an average volatility of comparable listed companies of 29.4% - 47.7%.

Expected dividends

The Holding Company does not expect to pay any dividends in the future.

Risk-free rate

The 338,432 options granted under the 2020 LTIP on June 30, 2020 vest over time, with an initial portion vesting at June 30, 2020 and the remainder vesting equally on a monthly basis for a period of 13 months to four years.

During the year ended June 30, 2021, 510,143 options and 15,000 RSAs were granted, 16,215 options were forfeited and 1,442 were exercised. The summary of options granted during the year is as follows:

●

341,843 options were issued in August 2020 at an exercise price of $19.0 with initial vesting of 50% at the grant date and the remaining vesting equally every month over 24 months.

●

97,000 options at an exercise price of $19.85 and 10,000 RSAs were issued in December 2020. 77,000 options with an initial vesting of 25% after one year and the remaining vesting equally on monthly basis over 36 months and the vesting of the remaining 20,000 options is based on satisfaction of the performance obligation. Out of 10,000 RSAs, 5,000 RSAs have an exercise price of $19.55 with initial vesting of 13% and the remaining to be vested over 24 months. The remaining 5,000 RSAs have an exercise price of $19.85 to be vested on January 2021.

●

20,000 options were granted in January 2021 with an exercise price of $18.82, vesting of which is based on satisfaction of the performance obligation.

●

23,500 options were granted in February 2021 with an exercise price of $20.86 with an initial vesting of 25% after one year and remaining vesting equally on monthly basis over 36 months.

●

5,000 RSAs were granted in January 2021 with an exercise price of $18.30 and vesting equally on a quarterly basis from April 2021.

●

27,800 options were granted in June 2021 with an exercise price of $18.72, vesting will be over 36 months.

A summary of the options / awards outstanding and exercisable as of June 30, 2021 and June 30, 2020 are as follows:


	2021		2020
		Share		Share
	Weighted	Options /	Weighted	Options /
	average	awards	average	awards
	exercise price	(Number)	exercise price	(Number)
	(US$)		(US$)
Options / awards outstanding as of beginning of the year	12.75	338,432	12.75	338,432
Options / awards granted during the year	19.23	525,143	—	—
Options / awards exercised during the year	19.00	(1,442)	—	—
Options / awards forfeited / cancelled / expired during the year	15.96	(16,215)	—	—
Options / awards outstanding as of end of the year	16.70	845,918	12.75	338,432

Options / awards exercisable as of end of the year	16.97	366,865	12.75	40,500

The total expense recognized during the fiscal year ended June 30, 2021 and June 30, 2020 was $3.6 million and $0.3 million respectively.

As of June 30, 2021, the unrecognized compensation expense associated with the Long term Incentive Plan was $1.7 million, and it will be recognized over the period of 48 months from the end of June 30, 2021.

The Group recognized $4.5 million and $0.4 million of stock based compensation expense (including Phantom stock plan and 2018 RSA Plan and long-term incentive plan) for the year ended June 30, 2021 and 2020 respectively.

EARNINGS PER SHARE

12 Months Ended

Jun. 30, 2021

EARNINGS PER SHARE [Abstract]

EARNINGS PER SHARE

20. EARNINGS PER SHARE

Basic earnings / (loss) per share is calculated based on the weighted average number of shares outstanding during the period. Diluted earnings per share is based on the weighted average number of ordinary shares outstanding plus the effect of dilutive non-vested restricted stock, stock options and warrants, using the treasury method, as applicable.

When a loss is reported, potentially issuable common shares are excluded from the calculation of diluted earnings per share as their effect would be anti-dilutive.

As of June 30, 2021, there were 735,475 shares related to the 2018 RSA plan, 2020 LTIP and the Amazon warrant that were considered dilutive and shares related to such plans that were considered anti-dilutive, using the treasury method.

As of June 30, 2020, there were 1,176,370 vested out of the 1,841,660 awards that have vested. The unvested shares of 665,291 have a small dilutive impact to the Earnings / (Loss) Per Share. On June 30, 2020, the Group issued LTIP (see Note 19), there were 40,500 options vested out of 338,432 options issued. The remaining unvested options have an anti-dilutive impact. Additionally, 288,748 warrant shares have vested and are a component of the basic per share calculation. The remaining unvested warrant shares have an anti – dilutive impact.

The Series A, B and C Preferred Convertible Shares do not meet the definition of ordinary shares under IAS 33 because of their preferred participation rights, under which Series B and C are entitled to receive total dividends of $91.8 million subsequent to Series A receiving the first $9.5 million in dividends before dividends may be paid on the Class A and B Common Shares. The Company paid the dividend on July 24, 2020 of $4 million to TRGI, the holder of Series A preferred share. Accordingly the company’s Class A and Class B common shares are deemed to be the only ordinary shares for purposes of calculating earnings per share.

As the income for the year ended June 30, 2020 and June 30, 2019, did not exceed the value of the preferred participation rights of the Series A, B and C Preferred Convertible Shares, the income/loss attributable to the ordinary shareholders of the company has been assessed as $0.

For the year ended June 30, 2020, a voluntary conversion of the Series A, B and C preferred convertible shares would be antidilutive, because all shares of the company would become ordinary shares and the income for the period would be attributable to all such shares. For the year ended June 30, 2019 the effect of conversion would be dilutive as the company recorded a loss for that year from continuing operations.


	June 30,	June 30,	June 30,
	2021	2020	2019
	(US$’000)
Total - Income attributable to shareholders of the Holding Company	2,847	7,770	10,965
Continuing operations - Income / (loss) attributable to shareholders of the Holding Company	2,847	7,770	(4,519)

Total – Income attributable to ordinary shareholders of the company	2,847	—	—
Continuing operations – Income attributable to ordinary shareholders of the company	2,847	—	—

	(Shares)
Weighted average number of ordinary shares - basic	17,649,446	1,176,370	956,835

	(US$)
Total - Basic earnings per share	0.16	—	—
Continuing operations - Basic earnings per share	0.16	—	—

	(Shares)
Weighted average number of ordinary shares - diluted	18,384,921	12,936,962	12,461,182

	(US$)
Total - Diluted earnings per share	0.15	—	—
Continuing operations - Diluted earnings / (loss) per share	0.15	—	(0.36)

DIVIDEND DISTRIBUTION

12 Months Ended

Jun. 30, 2021

DIVIDEND DISTRIBUTION [Abstract]

DIVIDEND DISTRIBUTION

21. DIVIDEND DISTRIBUTION

On July 21, 2020, our board of directors approved a one-time dividend of $4.0 million to our shareholders reflecting a portion of the cash generation from the business during fiscal year 2020. The dividend was paid on July 24, 2020 to TRGI, the holder of our Series A preferred share, which is entitled to a dividend preference that expires upon conversion of the Series A preferred share to common shares upon the completion of IPO.

One of the subsidiaries of IBEX Limited declared and paid dividend amounting to $0.1 during the year ended June 30, 2020 respectively. No dividends were declared during the year ended June 30, 2019. One of the subsidiaries of the Group paid a dividend liability of $1.6 million during the year ended June 30, 2019 which was declared in year ended June 30, 2017.

FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES

12 Months Ended

Jun. 30, 2021

FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES [Abstract]

FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES

22. FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES

Financial risk management

The Group’s activities expose it to a variety of financial risks: market risk (including interest rate risk and currency risk), credit risk and liquidity risk. The Board of Directors has the overall responsibility for the establishment and oversight of the Group’s risk management framework.

The Group’s risk management policies are established to identify and analyze the risks faced by the Group, to set appropriate risk limits and to monitor risks and adherence to limits. Risk management policies are reviewed regularly to reflect changes in the market conditions and the Group’s activities. The Group’s Board of Directors oversees how management monitors compliance with the Group’s risk management policies and procedures, and reviews the adequacy of the risk management framework in relation to the risks faced by the Group.

A summary of the financial instruments held by category is provided below:


	June 30,	June 30,
	2021	2020
	(US$’000)
Financial assets - amortized cost
Deposits	4,446	3,427
Trade receivables	66,689	53,436
Other receivables	1,223	923
Due from related parties	1,755	1,587
Cash and cash equivalents	57,842	21,870
	131,955	81,243
Financial liabilities - amortized cost
Lease liabilities	83,999	74,712
Borrowings	28,517	31,258
Trade and other payables	22,695	25,773
Due to related parties	4,275	5,739
	139,486	137,482
Financial liabilities – fair value through profit and loss
Warrant liabilities (Note 28)	13,621	3,889
	13,621	3,889

Financial liabilities – fair value through other comprehensive income
Cash flow hedge (Note 15)	316	518
	316	518

Disclosed amounts included in financial assets – amortized cost, other receivables as of June 30, 2020 have been re-presented by $3.5 million. There is no impact on the previously reported net loss, financial position or cash flows.

Movement of Warrant liabilities as of June 30, 2021 and 2020:


	June 30,	June 30,
	2021	2020
	(US$’000)
Opening balance	3,889	751
Fair Value Adjustment	7,786	2,305
Warrants vested during the year	1,946	833
Closing balance	13,621	3,889

Fair value hierarchy

The Group uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation technique:

●

Level 1: quoted (unadjusted) prices in active markets for identical assets and liabilities;

●

Level 2: other techniques for which all inputs which have a significant effect on the recorded fair value are observable, either directly or indirectly; and

●

Level 3: techniques which use inputs that have a significant effect on the recorded fair value that are not based on observable market data.

The fair value of the Group’s financial liability is measured at fair value on a recurring basis. The following table gives information about how the fair value of this financial liability is determined.


		June 30,	June 30,
		2021	2020
		(US$’000)
Financial liabilities – fair value through profit and loss	Fair value hierarchy
Warrant liabilities (Note 28)	Level 3	13,621	3,889

Financial liabilities – fair value through other comprehensive income	Fair value hierarchy
Cash flow hedge (Note 15)	Level 2	316	518
		13,937	4,407

During the year June 30, 2021, there was no reclassification to profit and loss from other comprehensive income as a result of cash flow hedge. There were no transfers between the different hierarchies levels in the year ended June 30, 2021.

22.1. Market risk

22.1.1 Interest rate risk

The Group’s exposure to market risk for changes in interest rates relates primarily to the cash and bank balances and credit facilities. Borrowings under the PNC Credit Facility bear interest at LIBOR plus 1.75% and/or negative 0.5% of the PNC Commercial Lending Rate for domestic loans. The Group attempts to manage its exposure to interest rate changes to mitigate the impact to its profitability and has used an interest rate swaps to achieve this goal.

In March 2020, Ibex Global Solutions, Inc., entered into a $15 million notional floating to fixed interest-rate swap in to hedge the interest rate risk on the first $15 million of its balance outstanding under the PNC Credit Facility. At the time the hedge was executed, all critical terms matched between the hedge and the hedged item. Hedge effectiveness was assessed prospectively at inception, and on an ongoing basis by confirming that the critical terms continue to match. As a result of this qualitative assessment, no hedge ineffectiveness has been identified. The fair value of the interest rate swap was $0.3 million and $0.5 million as of June 30, 2021 and 2020, respectively, and is included in trade and other payables in the statement of financial position.

Based on the Group’s debt position as of June 30, 2021 and taking into account the impact of the interest-rate swap referred above; a 1% change in interest rates would impact the finance costs by $0.9 million (June 30, 2020: $0.8 million).

22.1.2 Foreign currency exchange risk

The Group serves many of our U.S.-based clients using contact center capacity in various countries such as Philippines, Pakistan, Nicaragua and Jamaica. Although contracts with these clients are typically priced in U.S. dollars a substantial portion of related costs is denominated in the local currency of the country where services are provided, resulting in foreign currency exposure which could have an impact on our results of operations. Our primary foreign currency exposures are in Philippine Peso, Jamaican Dollar, and Pakistan Rupee; to a lesser extent, we have exposures in Euro, Pound Sterling, CFA Franc (XOF), Nicaraguan Cordoba, Canadian Dollar and Emirati Dirham. There can be no assurance that we can take actions to mitigate such exposure in the future, and if taken, that such actions will be successful or that future changes in currency exchange rates will not have a material adverse impact on our future operating results. A significant change in the value of the U.S. Dollar against the currency of one or more countries where we operate may have a material adverse effect on our financial condition and results of operations.

Foreign currency exchange risk arises mainly where receivables and payables exist due to transactions entered into in foreign currencies. As such, the management believe that, the Group is exposed to the following foreign currency exchange risks:

●	Transaction foreign currency risk is the exchange risk associated with the time delay between entering into a contract and settling it. Greater time differences exacerbate transaction foreign currency risk, as there is more time for the two exchange rates to fluctuate.

●

Translation foreign currency risk is the risk that the Group’s non-U.S. Dollar assets and liabilities will change in value as a result of exchange rate changes. Monetary assets and liabilities are valued and translated into U.S. Dollars at the applicable exchange rate prevailing at the applicable date. Any adverse valuation moves due to exchange rate changes at such time are charged directly and could impact our financial position and results of operations. For the purposes of preparing the consolidated financial statements, the Group convert subsidiaries’ financial statements as follows:

Statements of financial position are translated into U.S. Dollars from local currencies at the period-end exchange rate, shareholders’ equity is translated at historical exchange rates prevailing on the transaction date and income and cash flow statements are translated at average exchange rates for the period.

With all other variables held constant, a 5.0% depreciation in the Philippine Peso against the U.S. dollar would have decreased net loss after taxation in the fiscal year ended June 30, 2021 by approximately $1.6 million (June 30, 2020: $1.4 million). Conversely, a 5.0% appreciation in the Philippine Peso against the U.S. dollar would have increased net loss after taxation in the fiscal year ended June 30, 2021 by approximately $1.6 million (June 30, 2020: $1.4 million). A 5.0% depreciation in Euro against the U.S. dollar would have decreased net loss after taxation in the fiscal year ended June 30, 2021 by approximately $0.1 million (June 30, 2020: $0.1 million). Conversely, a 5.0% appreciation in the Euro against the U.S. dollar would have increased net loss after taxation in the fiscal year ended June 30, 2021 by approximately $0.1 million (June 30, 2020: $0.1 million). Similarly, a 5.0% depreciation in the Pakistan Rupee against the U.S. dollar would have decreased our net loss after taxation in the fiscal year ended June 30, 2021 by approximately $0.3 million (June 30, 2020: $0.3 million). Conversely, a 5.0% appreciation in the Pakistan Rupee against the U.S. dollar would have increased our net loss after taxation in the fiscal year ended June 30, 2021 by approximately $0.3 million (June 30, 2020: $0.3 million).

22.2. Credit risk

Credit risk is the risk that one party to a financial instrument will fail to discharge an obligation and causes the other party to incur a financial loss. The Group is exposed to credit risk on its accounts receivable mainly in the communications services, technology, consumer, and industrials sectors. The Group mitigates the risk by diversifying its client base in these sectors.

Financial instruments which potentially expose the Group to concentrations of credit risk consist primarily of cash and cash equivalents, accounts receivable, loans and advances and notes receivable. The Group’s cash and cash equivalents are held with US and foreign commercial banks. The balance at times may exceed insured limits.

Credit rating wise breakup of bank balances:


	June 30,	June 30,
	2021	2020
	(US$’000)
A-1+	2,396	1,553
A-1	—	94
A+	45,082	4,295
A	3,138	2,803
A-	403	1
B-	—	2,693
B+	955	819
BA3	90	165
BB+	—	62
BBB+	4,635	7,834
BBB	1,118	1,528
Non - Rated	25	23
Total	57,842	21,870

The maximum exposure to credit risk is as follows:


	June 30,	June 30,
	2021	2020
	(US$’000)
Financial assets - amortized cost
Deposits	4,446	3,427
Trade receivables	66,689	53,436
Other receivables	1,223	923
Due from related parties	1,755	1,587
Cash and cash equivalents	57,842	21,870
	131,955	81,243

Majority of the Group’s financial assets are represented by trade receivables, due from related parties and cash and cash equivalents which are not materially deteriorated.

The Group’s top three clients based on respective fiscal year revenue are shown below:


	2021
	Revenue			Trade debts gross
	Amount			Amount
	(US$ '000)	% of total		(US$ '000)	% of total
Client 1	51,991	12	%	6,169	9	%
Client 2	55,181	12	%	7,247	10	%
Client 3	48,245	11	%	4,936	7	%
Subtotal	155,417	35	%	18,352	26	%
Others	288,245	65	%	51,363	74	%
Revenue from external customers	443,662	100	%	69,715	100	%


	2020
	Revenue			Trade debts gross
	Amount			Amount
	(US$ '000)	% of total		(US$ '000)	% of total
Client 1	64,937	16	%	7,425	13	%
Client 2	73,743	18	%	114	0	%
Client 3	38,528	10	%	9,012	16	%
Subtotal	177,208	44	%	16,551	30	%
Others	227,927	56	%	39,311	70	%
Revenue from external customers	405,135	100	%	55,862	100	%


	2019
	Revenue			Trade debts gross
	Amount			Amount
	(US$ '000)	% of total		(US$ '000)	% of total
Client 1	74,835	20	%	10,770	16	%
Client 2	67,094	18	%	13,716	21	%
Client 3	44,509	12	%	9,042	14	%
Subtotal	186,438	51	%	33,528	51	%
Others	181,942	49	%	32,358	49	%
Revenue from external customers	368,380	100	%	65,886	100	%

Revenue from discontinued operations	64,740	—		—	—

The Group continuously monitors defaults of customers and other counterparties, identified either individually or by group, and incorporate this information into its credit risk controls.

The consolidated entities recognizes a loss allowance for expected credit losses on financial assets which are measured at amortized cost. The measurement of the loss allowance depends upon the assessment at the end of each reporting period as to whether the financial instrument’s credit risk has increased significantly since initial recognition, based on reasonable and supportable information that is available, without undue cost or effort to obtain. Based on the historic trend and expected performance of the customers, the Group believes that the below expected credit loss allowance sufficiently covers the risk of default. Trade receivable balances are reviewed closely for changes in creditworthiness, including those related to COVID-19, are integrated into assessment of credit risk and expected credit losses. Forward-looking information including macroeconomic factors such as GDP, unemployment and inflation rate in the countries where Group operates. Based on the current knowledge of COVID-19 developments, the Company assumes that there will be no material deterioration on the trade receivable balances.

In measuring expected credit losses, trade receivables are assessed on a collective basis as they possess shared credit risk characteristics. Trade receivables are grouped based on days past due and also according to the geographical location of customers.

On the above basis the expected credit loss for trade receivables as at June 30, 2021 and June 30, 2020 was determined as follows:


	June 30, 2021
	(US$’000)
			Due: 0 to 30		Due: 31 - 60		Due: 61 to 90		Due: 91 - 180		Due: over 180
	Not overdue		days		days		days		days		days		Total
Expected credit loss rate	0	%	0	%	1	%	17	%	25	%	77	%	—
Gross carrying amount	65,090		1,933		192		190		300		2,010		69,715
Lifetime expected credit loss	4		6		1		33		74		1,545		1,663
Individually impaired trade receivables													638
Total allowance for credit losses													2,301


	June 30, 2020
	(US$’000)
		Due: 0 to 30		Due: 31 - 60		Due: 61 to 90		Due: 91 - 180		Due: over 180
	Not overdue	days		days		days		days		days		Total
Expected credit loss rate	—	1	%	2	%	11	%	14	%	90	%	—
Gross carrying amount	50,630	2,513		918		138		83		1,580		55,862
Lifetime expected credit loss	—	15		14		15		12		1,419		1,475
Individually impaired trade receivables												402
Total allowance for credit losses												1,877

Below are the details of individually credit impaired balances as of June 30, 2021:


	June 30,	June 30,
	2021	2020
	(US$’000)
Credit impaired trade receivables - Gross carrying amount	2,142	1,801
Expected credit loss allowance	(2,124)	(1,785)
	18	16

The Group does not hold any collateral against these assets. Financial assets other than trade debts have no material ECL allowances on those balances as of June 30, 2021.

22.3. Liquidity risk

The Group’s policy is to ensure that it will always have sufficient cash to allow it to meet its liabilities when they become due. To achieve this aim, it seeks to maintain cash balances (or agreed facilities) to meet expected requirements for a period of at least 45 days. The Board receives cash flow projections on a quarterly basis as well as information regarding cash balances and investments. The liquidity risk of each group entity is managed at the entity level. Where facilities of group entities need to be increased, approval must be sought by the entity’s CFO. Where the amount of the facility is above a certain level, agreement of the Group CFO and the board is needed.

The Group’s cash generated from operations for the year ended June 30, 2021 was $40.6 million (June 30, 2020: $63.3 million).

The following table presents the contractual maturities (liquidity analysis) as of June 30, 2021 and 2020:


	June 30, 2021
	Less than 1
	year	1 - 3 years	4 - 5 years	Total
	(US$’000)
Deposits	731	3,715	—	4,446
Trade receivables	66,689	—	—	66,689
Other receivables	1,223	—	—	1,223
Due from related parties	1,755	—	—	1,755
Cash and cash equivalents	57,842	—	—	57,842
Subtotal	128,240	3,715	—	131,955
Lease liability	18,344	32,811	61,730	112,885
Long - term other borrowings	4,626	1,855		6,481
Line of credit	22,312	—	—	22,312
Trade and other payables	23,011	—	—	23,011
Due to related parties	4,275	—	—	4,275
Subtotal	72,568	34,666	61,730	168,964
Net liquidity position	55,672	(30,951)	(61,730)	(37,009)


	June 30, 2020
	Less than 1
	year	1 - 3 years	4 - 5 years	Total
	(US$’000)
Deposits	340	3,087	—	3,427
Trade receivables	53,436	—	—	53,436
Other receivables	923	—	—	923
Due from related parties	1,587	—	—	1,587
Cash and cash equivalents	21,870	—	—	21,870
Subtotal	78,156	3,087	—	81,243
Lease liability	18,717	29,762	54,830	103,309
Long - term other borrowings	6,468	3,994	—	10,462
Line of credit	21,475	—	—	21,475
Trade and other payables	26,291	—	—	26,291
Due to related parties	5,739	—	—	5,739
Subtotal	78,690	33,756	54,830	167,276
Net liquidity position	(534)	(30,669)	(54,830)	(86,033)

TRANSACTION WITH RELATED PARTIES

12 Months Ended

Jun. 30, 2021

TRANSACTION WITH RELATED PARTIES [Abstract]

TRANSACTION WITH RELATED PARTIES

23. TRANSACTION WITH RELATED PARTIES

Related parties of the Group comprise of related entities, staff retirement funds, directors and key management personnel. A “related entity” is an entity that TRGI has control or significant influence over.

Material related party balances and transactions other than reorganization transaction and those disclosed elsewhere in these consolidated financial statements, are given below:


			June 30, 2021
			Service	Service	Due from	Due to
		Relationship with	delivery	delivery	related	related
	Note	related party	revenue	expense	parties	parties
			(US$’000)
BPO Solutions, Inc.	23.1	Related entity	—	—	—	3,610
Alert Communications, Inc.	23.1	Related entity	113	—	696	—
TRG Marketing Services, Inc.	23.1	Related entity	—	—	19	—
Afiniti International Holdings Limited	23.1	Related entity	56	27	—	168
TRG Holdings, LLC	23.1 & 23.4	Related entity	—	—	—	122
The Resource Group International Limited	23.1 & 23.7	Parent	—	—	163	—
Third Party Lessor	23.2 & 23.5	Related entity	201	405	87	97
3rd Party Client and Internet Services Provider	23.3	Related entity	679	77	638	278
IBEX Limited Executive Leadership	23.6	Officers	—	—	13	—
TRG (Private) Limited	23.1	Related entity	—	—	121	—
Etelequote	23.1	Related entity	115	—	18	—
			1,164	509	1,755	4,275


			June 30, 2020
			Service	Service	Due from	Due to
		Relationship with	delivery	delivery	related	related
	Note	related party	revenue	expense	parties	parties
			(US$’000)
BPO Solutions, Inc.	23.1	Related entity	—	—	—	3,611
Alert Communications, Inc.	23.1	Related entity	164	—	534	—
TRG Marketing Services, Inc.	23.1	Related entity	—	—	19	—
Afiniti International Holdings Limited	23.1	Related entity	53	48	—	198
TRG Holdings, LLC	23.1 & 23.4	Related entity	—	—	—	1,708
The Resource Group International Limited	23.1 & 23.7	Parent	—	—	163	—
Third Party Lessor	23.2 & 23.5	Related entity	310	489	147	9
3rd Party Client and Internet Services Provider	23.3	Related entity	764	73	402	179
IBEX Holdings Executive Leadership	23.6	Officers	—	—	12	—
TRG (Private) Limited	23.1	Related entity	—	—	—	34
Etelequote	23.1	Related entity	34	—	310	—
			1,325	610	1,587	5,739


			June 30, 2019
			Service	Service
		Relationship with	delivery	delivery
	Note	related party	revenue	expense
			(US$’000)
Alert Communications, Inc.	23.1	Related entity	150	—
Afiniti International Holdings Limited	23.1	Related entity	54	70
Third Party Lessor	23.2 & 23.5	Related entity	342	77
3rd Party Client and Internet Services Provider	23.3	Related entity	883	73
			1,429	220

23.1. Service delivery revenue and expenses are incurred by the Group in the ordinary course of business. These transactions were executed on mutually agreed terms. These represent call center and back office support services provided to subsidiaries of the Group.

23.2. A Senior executive within one of our vendors serves on the Board of our Controlling Shareholder. The Group maintains a lease on office space along with having a client relationship between Virtual World and the aforementioned company.

23.3. A Senior executive within one of our customers served until April 2021 as a Board member of our IBEX Senegal subsidiary. The Group maintains both a vendor and a client relationship with this company.

23.4. The balance due to TRG Holdings, LLC includes loan principal and interest at June 30, 2020: $1.5 million with an interest rate of 15% per annum and shall mature on August 7, 2020. The outstanding balances of $1.6 million was repaid on November 2, 2020.

23.5. A Senior executive within one of our vendors serves as a board of our DGS Group. The Group maintains a lease on office space with this Company.

23.6. Receivable from executive leadership represents the purchase of the shares through RSA (See Note 19.3).

23.7. Related party loans

Under a convertible loan note agreement between a subsidiary of the Group and TRGI, these loan notes may convert into ordinary shares at the option of TRGI if there is external funding in the subsidiary in excess of $3 million. Out of total loan amount, there were no disbursements during the current year and June 30, 2018. The loan of $1.2 million was paid in full during the year June 30, 2019.

CAPITAL RISK MANAGEMENT

12 Months Ended

Jun. 30, 2021

CAPITAL RISK MANAGEMENT [Abstract]

CAPITAL RISK MANAGEMENT

24. CAPITAL RISK MANAGEMENT

Capital risk management is carried out by the Group’s management. The Group’s board of directors sets Capital risk management policies and procedures to which our management is required to adhere. The Group’s management identifies and evaluates Capital risks and enters into agreements and explore avenues to mitigate these risk exposures in accordance with the policies and procedures outlined by the Group’s board of directors.

The Group manages its capital to safeguard that the Group will be able to continue as a going concern. The capital structure of the Group consists of cash at bank and in hand and cash equivalents, borrowings, and preferred shares. In addition the Group’s capital structure includes equity attributed to the holders of equity instruments of the Holding Company, such as capital, reserves and results carried forward, as mentioned in the consolidated statement of changes in equity.

The Group has filed for government assistance in response to the Pandemic in US and Pakistan:

In the US, one subsidiary of the Group has deferred the payment of Social Security (employer portion) from March 2020 - December 2020 amounting to $4.4 million. A payment of $0.7 million was made in June 2021. The total amount deferred as of June 30, 2021 was $3.7 million (June 30, 2020: $1.8 million). Repayment amounting to $2.6 million and $1.1 million is to be made through financial year 2022 and 2023 respectively.

In Pakistan, the Group (through its subsidiaries) applied for and received loans totaling approximately $1.7 million in July 2020 through programs offered by commercial banks at the directive of the State Bank of Pakistan. These funds are to be used to fund three-months of employee wages and salaries. The funds are to be repaid within two years. Refer to Note 13.1.4.

The Group manages its capital structure and makes the necessary adjustments in the light of changes of economic circumstances, the risk characteristics of underlying assets and the projected cash needs of the current and prospective operational / financing / investment activities. The adequacy of the Group’s capital structure will depend on many factors, including capital expenditures, market developments and any future acquisition.

The Group and its subsidiaries are not subject to any externally imposed capital requirements, other than those imposed by generally applicable company law requirements.

In order to maintain or adjust the capital structure, the Holding Company may adjust the amount of dividends paid to shareholders, return capital to shareholders, issue new shares or sell assets to reduce debt.

SEGMENT INFORMATION

12 Months Ended

Jun. 30, 2021

SEGMENT INFORMATION [Abstract]

SEGMENT INFORMATION

25. SEGMENT INFORMATION

The Group had been operating with two operating segments through financial year 2019, namely, customer management and customer acquisition.

As of the end of financial year 2019, the Group spun off its health insurance acquisition business, which was a significant portion of its customer acquisition reporting segment. In addition, the Group fully integrated the operations corresponding to its customer management reporting segment and the remaining operations within our customer acquisition reporting segment. As a result, from the beginning of fiscal year 2020, the Group reports its financial statements on a single segment basis as Business Process Outsource (BPO).

From July 2019, the Chief Executive Officer (CEO), also the Chief Operating Decision Maker, reviews and analyses monthly / quarterly Group as one operating segment Business Process Outsource (BPO).

25.1. Revenue from contracts with customers

The Group generates approximately 97% of its revenue from clients based in the United States of America.


	June 30,	June 30,	June 30,
	2021	2020	2019
	(US$’000)
Revenue from continuing operations
United States of America	428,831	391,933	361,078
Others	14,831	13,202	7,302
Total	443,662	405,135	368,380

Revenue from discontinued operations:
United States of America	—	—	64,740

The Group’s revenue disaggregated by pattern of revenue recognition is as follows:


	June 30,	June 30,	June 30,
	2021	2020	2019
	(US$’000)
Pattern of Revenue recognition
− Services transferred at a point in time	40,775	48,486	52,897
− Services transferred over time	402,887	356,649	315,483
	443,662	405,135	368,380

The movement in the deferred revenue is as follows:


	June 30,	June 30,
	2021	2020
	(US$’000)
Opening balance	3,904	5,141
Revenue recognized during the year	(5,416)	(6,128)
Revenue deferred during the year	8,599	4,891
Closing balance	7,087	3,904

The following aggregated amounts of deferred revenue from existing contracts that are to be recognized in revenue in the following fiscal years:


	FY2022	FY2023	FY2024	FY2025	Total
	(US$’000)
Deferred Revenue expected to be recognized	4,077	2,300	663	47	7,087

25.2. Non-current assets by location


	June 30,	June 30,
	2021	2020
	(US$’000)
United States of America	28,668	32,482
Others	99,993	74,495

Total¹	128,661	106,977
¹Exludes deferred tax asset

PAYROLL AND RELATED COSTS

12 Months Ended

Jun. 30, 2021

PAYROLL AND RELATED COSTS

26. PAYROLL AND RELATED COSTS

Expenses recognized for employee benefits are analyzed below:


	June 30,	June 30,	June 30,
	2021	2020	2019
	(US$’000)
Salaries and other employee costs	247,926	228,818	216,617
Social security and other taxes	47,874	46,480	37,333
Retirement - contribution plan	771	823	513
Pensions - defined benefit scheme	228	134	129
Total payroll and related costs	296,799	276,255	254,592

Payroll and related costs from discontinued operations	—	—	22,182


26.1 Remuneration of Key Management Personnel

The key management personnel include the directors.
	June 30,	June 30,	June 30,
	2021	2020	2019
	(US$’000)
Salaries and other employee costs	5,293	5,524	4,129
Share - based payments	1,671	214	2,167
Total remuneration of key management personnel	6,964	5,738	6,296

Disclosed amounts included in Remuneration of Key Management Personnel has been re-presented by $5.5 million and $5.0 million for the periods ended June 30, 2020 and June 30, 2019.

Salaries and other employee costs have been re-presented by $5.3 million and $3.6 million for the periods ended June 30, 2020 and June 30, 2019, and share-based payments have been re-presented by $0.2 million and $1.4 million for the periods ended June 30, 2020 and June 30, 2019. There is no impact on the previously reported net loss, financial position or cash flows.

OTHER OPERATING COSTS

12 Months Ended

Jun. 30, 2021

OTHER OPERATING COSTS [Abstract]

OTHER OPERATING COSTS

27. OTHER OPERATING COSTS


		June 30,	June 30,	June 30,
	Note	2021	2020	2019
		(US$’000)
Rent and utilities		8,462	7,802	6,272
Communication		7,497	7,519	7,546
Facilities expense		22,647	18,107	13,765
Travel and housing		1,679	7,972	6,353
Local transportation	27.1	13,768	3,977	2,216
Insurance		4,837	1,516	1,731
Legal and professional expenses	27.2	10,618	6,652	9,241
Allowance for expected credit loss		291	224	237
Others		7,066	10,301	7,127
Other Operating Costs		76,865	64,070	54,488

Other Operating costs from discontinued operations		—	—	3,241

Certain prior year amounts have been reclassified to conform to the current year presentation, with no impact on previously reported net loss, financial position or cash flows.

27.1.The increase in local transportation is primarily related to a $9.2 million increase in COVID-19 costs.

27.2. This includes non-recurring legal expenses of $0.9 million for the year ended June 30, 2021 (June 30, 2020: nil, June 30, 2019 $4.2 million).

WARRANT

12 Months Ended

Jun. 30, 2021

WARRANTS [Abstract]

WARRANT

28. WARRANT

On November 13, 2017, and as subsequently amended through December 2020, the Company issued to Amazon.com NV Investment Holdings LLC, a subsidiary of Amazon.com, Inc. (“Amazon”), a 10-year warrant to acquire approximately 1,429,303 of our Series B Preference Shares and approximately 14,437.4049 of our Series C Preference Shares, totalling 1,443,740 shares, representing 10.0% of our equity on a fully diluted and as-converted basis as of the date of issuance of the warrant. 1,674,017 common shares, representing 10.0% of our equity on a fully diluted basis. The warrant is exercisable, either for cash or on a net issuance basis, at an exercise price per share of $11.20.

The Series B and Series C Preference shares of 1,443,740 shares were subsequently converted to 1,674,017 common shares on the date of the Company’s initial public offering (refer to Note 12.1) at an exercise price of $9.42.

The warrant shares vest on the satisfaction of specified milestones tied to Amazon’s purchase of services from the Company during a seven and a half year period ending on June 30, 2024. The vesting is partially accelerated in the event of a reorganization transaction (as defined in the warrant).

Amazon is entitled to customary shelf and piggy-back registration rights with respect to the shares issued upon exercise of the warrant. Amazon may not transfer the warrant except to a wholly-owned subsidiary of Amazon.

At June 30, 2020, the Company estimated the warrant liability using a Monte Carlo simulation. As a result of the Company’s initial public offering in August 2020, variables that previously required a more complex modelling technique were eliminated and all inputs into the calculation of the warrant liability are now observable in the public markets. Therefore, the Company has elected to use the Black-Scholes valuation technique to calculate the warrant liability going forward.

The Black-Scholes valuation model requires the use of certain estimates and assumptions that affect the fair value adjustment recognized in the consolidated statement of profit or loss. These include the price per share, expected term, expected volatility, expected dividends and the risk-free interest rate.

Fair value of common shares

The fair value of the common shares is $19.52 per share as of June 30, 2021.

Expected term

The expected term of options granted is six years from June 30, 2021, and ending November 12, 2027.

Volatility

Management used an average volatility of comparable listed companies of 31.8% as the Company does not have sufficient experience in the public markets to calculate its own volatility.

Expected dividends

The expected average dividend yield is 0% for the year ended June 30, 2021. The Holding Company does not expect to pay any dividends in the foreseeable future.

Risk-free rate

The risk-free rate is the continuously compounded United States nominal treasury rate corresponding to the term of the option. The average risk-free rate used for options granted was 1.2%.

There were no warrants cancelled or expired as of June 30, 2021 and June 30, 2020. At June 30, 2021, 502,205 warrants were vested based on the agreed upon revenue criteria.

The total fair value of the warrant liability included in other non-current liabilities and trade and other payables was $13.6 million and 3.9 million, as of June 30, 2021 and 2020, respectively.

Warrant asset

The Warrant asset is amortized pro rata over the life of the vesting period of the warrant based on actual and projected revenues. The Company recorded contra revenue of approximately $0.8 million and $0.7 million during the years ended June 30, 2021 and 2020 respectively. The balance of the warrant asset as of June 30, 2021 and 2020 was $2.1 million and $2.6 million, respectively.

Fair value hierarchy

The financial instruments carried at fair value have been categorized under the three levels of the IFRS fair value hierarchy as follows:

●	Level 1 - Instruments valued using quoted prices in active markets are instruments where the fair value can be determined directly from prices which are quoted in active, liquid markets and where the instrument observed in the market is representative

●

Level 2 - Instruments valued with valuation techniques using observable market data are instruments where the fair value can be determined by reference to similar instruments trading in active markets, or where a technique is used to derive the valuation but where all inputs to that technique are observable.

●

Level 3 - Instruments valued using valuation techniques using market data which is not directly observable are instruments where the fair value cannot be determined directly by reference to market observable information, and some other pricing technique must be employed. Instruments classified in this category have an element which is unobservable and which has a significant impact on the fair value.

Given these guidelines, the warrant liability associated with Amazon would be classified as a Level 3 liability.

RECONCILIATION OF PROFIT / LOSS BEFORE TAXATION

12 Months Ended

Jun. 30, 2021

RECONCILIATION OF PROFIT / LOSS BEFORE TAXATION [Abstract]

RECONCILIATION OF PROFIT / LOSS BEFORE TAXATION

29. RECONCILIATION OF PROFIT / LOSS BEFORE TAXATION


		June 30,	June 30,	June 30,
	Note	2021	2020	2019
		(US$’000)
Net income after taxation		2,847	7,770	10,965
Income tax expense from continuing operations	18	1,918	2,315	3,615
Income tax expense from discontinued operations	30.2	—	—	4,830
Total income before taxation		4,765	10,085	19,410

HOLDING COMPANY INDIRECT SUBSIDIARIES

12 Months Ended

Jun. 30, 2021

HOLDING COMPANY INDIRECT SUBSIDIARIES [Abstract]

HOLDING COMPANY INDIRECT SUBSIDIARIES

30. HOLDING COMPANY INDIRECT SUBSIDIARIES

The following entities are indirect subsidiaries of the Holding Company through IBEX Global Limited:


			Ownership %
Description	Location	Nature of Business	2021		2020
IBEX Global Solutions Limited	England	Holding company	100	%	100	%
IBEX Global Limited	Bermuda	Holding company	100	%	100	%
Lovercius Consultants Limited	Cyprus	Call center	100	%	100	%
IBEX Global Europe	Luxembourg	Tech support services	100	%	100	%
IBEX Global ROHQ	Philippines	Regional HQ	100	%	100	%
IBEX Global Solutions, Inc. (formerly TRG Customer Solutions, Inc.)	USA	Call center	100	%	100	%
TRG Customer Solutions (Canada), Inc.	Canada	Call center	100	%	100	%
TRG Marketing Solutions Limited	England	Call center	100	%	100	%
Virtual World (Private) Limited	Pakistan	Call center	100	%	100	%
IBEX Philippines, Inc.	Philippines	Call center	100	%	100	%
IBEX Global Solutions (Philippines) Inc.	Philippines	Call center	100	%	100	%
TRG Customer Solutions (Philippines) Inc.	Philippines	Call center	100	%	100	%
IBEX Customer Solutions Senegal S.A. (formerly TRG Senegal SA)	Senegal	Call center	100	%	100	%
IBEX Global Solutions (Private) Limited	Pakistan	Call center	100	%	100	%
IBEX Global MENA FZE	Dubai	Call center	100	%	100	%
IBEX Global Bermuda Ltd	Bermuda	Call center	100	%	100	%
IBEX Global Solutions Nicaragua SA	Nicaragua	Call center	100	%	100	%
IBEX Global St. Lucia Limited	St. Lucia	Holding company	100	%	100	%
IBEX Global Jamaica Limited	Jamaica	Call center	100	%	100	%
IBEX Receivable Solutions, Inc	USA	Call center	100	%	—	%
IBEX Global Solutions France SARL	France	Call center	100	%	100	%
IBEX Global Solutions Holding Inc.	USA	Holding company	100	%	—	%
Digital Globe Services, LLC	USA	Internet marketing for residential cable services	100	%	—	%
Telsat Online, LLC	USA	Internet marketing for non - cable telco services	100	%	—	%
7 Degrees LLC	USA	Digital marketing agency	100	%	—	%

The following entities are indirect subsidiaries of the Holding Company through DGS Limited:


			Ownership %
Description	Location	Nature of Business	2021	-	2020
Digital Globe Services, Inc	USA	Internet marketing for residential cable services	—	%	100	%
Telsat Online, Inc.	USA	Internet marketing for non - cable telco services	—	%	100	%
DGS Worldwide Marketing Limited	Cyprus	Holding company and global marketing	100	%	100	%
DGS (Pvt.) Limited	Pakistan	Call center and support services	100	%	100	%
7 Degrees LLC	USA	Digital marketing agency	—	%	100	%

The following entity is a Joint venture with membership interest held by Digital Globe Services, LLC:


			Ownership %
Description	Location	Nature of Business	2021		2020
Lakeball LLC (Note 7)	USA	Internet Marketing for commercial cable services	47.5	%	47.5	%

30.1. On February 1, 2019, a subsidiary, Digital Globe Services, Inc.(“DGS Inc.”), agreed with a third party purchaser to sell the assets of DGS EDU, LLC for $0.4 million of which 50% of the proceeds, or $0.2 million, was paid in cash and the remainder was established as a promissory note between the purchaser and DGS Inc.

The Group did not consider the sale of assets of DGS EDU, LLC as discontinued operation for the year ended June 30, 2019 as it does not represent a separate major line of business or geographical area of operations to the Group.

The gain on the sale of assets is recognized in the amount of $0.2 million.

The terms of promissory note are as follows:

●	Maturity Date: February 2020

●	Interest Rate: 8% compounded monthly

●	Payment: No less than the greater of:

the accrued but unpaid interest as of the monthly payment date; or

75% of the total receivables actually collected by the purchaser on all accounts arising from DGS Edu, LLC in the month prior to the due date of the monthly payment.

In addition, DGS Inc, agreed to a transition services agreement commencing on February 2019 for 12 months thereafter.

30.2. On June 26, 2019, the Group transferred 7,813,493 ordinary shares par value $0.0001 per share of Etelequote Limited to its majority shareholder, The Resource Group International Limited. In consideration of the share transfer, TRGI has agreed to waive $47.9 million of the $86.2 million in aggregate preference amount to which the Series C Preference Shares held by it are entitled upon a voluntary or involuntary liquidation, dissolution or winding up, being an amount equal to the purchase price for the share transfer. Such Series C Preference Shares are therefore entitled to receive in preference $38.3 million of any proceeds from a voluntary or involuntary liquidation, dissolution or winding up after Series A holders and Series B holders receive their respective entitlements.

The Group considered Etelequote Limited to be a discontinued operation for the period ended June 30, 2019 as it represents a separate major line of business to the Group. The following table shows the major classes of assets and liabilities of the Group’s discontinued operation at June 26, 2019.


		As of June 26,
		2019
		(US$’000)
Assets
Property and equipment and Intangibles		9,463
Renewal receivables		72,183
Trade and other receivables		1,129
Cash and cash equivalents		3,554
Total assets		86,329

Liabilities
Borrowings & Financing		43,431
Trade and other payables		9,977
Related party loans		—
Other Liabilities		5,327
Total liabilities		58,735

Net Assets		27,594

Result of discontinued operations:


		June 30, 2019
		(US$’000)
Revenue		64,740
Other operating income		2,923

Payroll and related costs		22,182
Share-based payments		875
Reseller commission and lead expenses		14,467
Depreciation and amortization		910
Other operating costs		3,241
Income from operations		25,988

Finance expenses		(5,674)
Income before taxation		20,314

Income tax expense		(4,830)
Net income for the period from discontinued operations, net of tax		15,484

Statement of cash flows

The statement of cash flows includes the following amounts relating to discontinued operations:


		June 30, 2019
		(US$’000)
Operating activities		(13,396)
Investing activities		(867)
Financing activities		12,720
Net cash flow from discontinued operations		(1,543)

Earnings per share of discontinued operations:

As the income from discontinued operations for the year ended June 30, 2019, and June 30, 2018, did not exceed the value of the preferred participation rights attaching to the Series A, B and C preferred convertible shares, the income/loss attributable to the ordinary shareholders of the Company has been assessed as $0.

Share-based payments:

During the year ended June 30, 2020, the Company repurchased RSAs related to non-executive leadership team (ELT) members of ETQ of $0.1 million. The Company disposed of its investment related to RSAs of non-ELT members of ETQ thus reducing share options reserves.

The promissory note of ELT members of ETQ of $13,000 was cancelled, therefore the Company also reduced share options reserves and related party loan receivables.

SUBSEQUENT EVENTS

12 Months Ended

Jun. 30, 2021

SUBSEQUENT EVENTS [Abstract]

SUBSEQUENT EVENTS

31. SUBSEQUENT EVENTS

31.1On July 30, 2021, the Group’s subsidiary, iSky, Inc. was converted from a c-corp to a limited liability company, by the filing of a certificate of conversion and formation with the Delaware Secretary of State. The subsidiary is now known as iSky, LLC.

31.2On September 30, 2021, the PNC Credit Facility was amended, with an effective date of July 30, 2021, to join iSky, LLC as a borrower, with substantially all of its assets pledged as security.

31.3These consolidated financial statements were authorized for issue by the Chairman of IBEX Limited on behalf of the Board of Directors of IBEX Limited, on October 13, 2021.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Jun. 30, 2021

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Basis of consolidation

3.1. Basis of consolidation

Where the Company has control over an investee, it is classified as a subsidiary. The Company controls an investee if all three of the following elements are present:

●	power over the investee,

●	exposure to variable returns from the investee, and

●	the ability of the investor to use its power to affect those variable returns.

Control is reassessed whenever facts and circumstances indicate that there may be a change in any of these elements of control.

●	The size of the company’s voting rights relative to both the size and dispersion of other parties who hold voting rights

●	Substantive potential voting rights held by the Company and by other parties

●	Other contractual arrangements

●	Historic patterns in voting attendance

Joint arrangements

The group classifies its interests in joint arrangements as either:

●	Joint ventures: where the Group has rights to only the net assets of the joint arrangement

●	Joint operations: where the Group has both the rights to assets and obligations for the liabilities of the joint arrangement.

In assessing the classification of interests in joint arrangements, the Group considers:

●	The structure of the joint arrangement

●	The legal form of joint arrangements structured through a separate vehicle

●	The contractual terms of the joint arrangement agreement

●	Any other facts and circumstances (including any other contractual arrangements).

Non-current assets (or disposal groups) held for sale and discontinued operations

Property and equipment

3.2. Property and equipment

Owned


		Depreciation
Property and equipment	Useful economic life	method
Leasehold improvements	3 - 5 years or life of lease if less	Straight line
Furniture, fixture and office equipment	3 - 5 years	Straight line
Computer equipment	3 years	Straight line
Vehicles	5 years	Straight line
Right of Use Assets	expected term of lease	Straight line

The assets’ residual values, useful lives and methods of depreciation are reviewed at each financial year-end and adjusted prospectively, if appropriate.

Right of use assets and lease liabilities

The gains and losses on disposal of assets or termination of right of use assets are recognized in the consolidated statement of profit or loss.

Right of use assets are transferred to owned assets when the Group makes early payment or when there is an option to exercise purchase option and the Group exercises it.

Intangible assets

3.3. Intangible assets

3.3.1. Goodwill

Goodwill represents the excess of the cost of a business combination over the total acquisition date fair value of the identifiable assets, liabilities and contingent liabilities acquired.

3.3.2. Other intangible assets

Externally acquired intangible assets are initially recognized at cost and subsequently amortized on a straight-line basis over their useful economic lives.

Expenditure on internally developed products is capitalized if it can be demonstrated that:

●	it is technically feasible to develop the product for it to be sold

●	adequate resources are available to complete the development

●	there is an intention to complete and sell the product

●	the Group is able to sell the product

●	sale of the product will generate future economic benefits, and

●	expenditure on the project can be measured reliably

The significant intangibles recognized by the Group, their useful economic lives and the methods used to determine the cost of intangibles acquired in a business combination are as follows:


Intangible Asset	Useful economic life	Valuation method
Customer lists	5 - 6 years	Straight line
Software	3 - 5 years	Straight line

Impairment of non-financial assets

3.4. Impairment of non-financial assets

Goodwill and other intangibles:

Goodwill is allocated on initial recognition to each of the Group’s CGUs that are expected to benefit from a business combination that gives rise to the goodwill.

Property and Equipment:

Financial instruments

3.5. Financial instruments

3.5.1. Financial assets

The Group classifies all its financial assets at amortized cost. The Group has not classified any of its financial assets at fair value through profit or loss.

The Group includes in this category trade and other receivables, deposits, due from related parties and cash and cash equivalents.

The Group’s assets at amortized costs comprise trade and other receivables, deposits, due from related parties and cash and cash equivalents in the consolidated statement of financial position.

Cash and cash equivalents includes cash in hand, deposits held at call with banks, and other short term highly liquid investments with original maturities of three months or less.

3.5.2. Financial liabilities

The Group classifies its financial liabilities into one of two categories, depending on the purpose for which the liability was acquired.

Fair value through profit and loss (“FVTPL”):

Fair value through other comprehensive income (“FVTOCI”):

Financial liabilities at amortized cost:

The Group includes in this category trade and other payables, borrowings, and due to related parties.

Financial liabilities at amortized cost are initially recognized at fair value net of any transaction costs directly attributable to the issue of the instrument.

Trade receivables

3.6. Trade receivables

Trade receivables are recognized and carried at original invoice amount less an allowance for expected credit losses.

Cash and cash equivalents

3.7. Cash and cash equivalents

Revenue from Contracts with Customers

3.8. Revenue from Contracts with Customers

IFRS 15 lays out a five-step process to ascertain the amount and timing of revenue that should be recognized.

●	Step 1: Identify the contract: The Company determines whether a contract exists between the reporting entity and customers that identifies rights, payment terms, has commercial substance and basis for collectability can be determined.

●	Step 2: Identify the Performance Obligations: The Company reviews the nature of the goods or service to be rendered in the contract and whether these are distinct. The reporting entity should recognize the revenue when it satisfies the performance obligations.

●

●	Step 4: Allocate the transaction price to the performance obligations in the contracts – Where separate performance obligations exist, the reporting entity allocates and assigns the consideration to the respective performance obligations.

●	Step 5: Revenue Recognition: Recognize revenue to when the entity satisfies the performance obligations.

Business Process Outsource (BPO):

Provisions

3.9. Provisions

are reviewed at each statement of financial position date and adjusted to reflect the current best estimate. The provisions are recognized in trade and other payables.

Profit or loss from discontinued operations

3.10. Profit or loss from discontinued operations

Retirement benefits

3.11. Retirement benefits

Defined contribution pension schemes

Contributions to defined contribution pension schemes are charged to the profit or loss in the year to which they relate.

United States based subsidiaries

TRG Marketing Solutions Limited

Virtual World (Private) Limited and IBEX Global Solutions (Private) Limited

Defined benefit schemes

Defined benefit scheme surpluses and deficits are measured at:

●	The fair value of plan assets at the reporting date; less

●

●	The effect of minimum funding requirements agreed with scheme trustees

Re-measurements of the net defined obligation are recognized directly within other comprehensive income. The re-measurements include:

●	Actuarial gains and losses

●	Return on plan assets (interest exclusive)

●	Any asset ceiling effects (interest exclusive)

Service costs are recognized in the profit or loss, and include current and past service costs as well as gains and losses on curtailments.

IBEX Philippines, Inc. and IBEX Global Solutions (Philippines) Inc. operate an unfunded defined benefit scheme.

Share-based payments

3.12. Share-based payments

●	The share price.

●	The strike price.

●	Volatility determined based on historical prices of our shares.

●	The duration, which has been estimated as the difference between the valuation date of the warrant plans and final exercise date.

●	The risk free interest rate.

Where equity settled share options are awarded to employees, the fair value of the options at the date of grant is charged to the profit or loss over the vesting period.

Warrant

3.13. Warrants

The measurement of the warrant at fair value as of the initial measurement date is based on the Black-Scholes valuation model taking into account the following variables:

●	The share price.

●	The strike price.

●	Volatility determined based on historical prices of our shares.

●	The duration, which has been estimated as the difference between the valuation date of the warrant plans and final exercise date.

●	The risk free interest rate.

Given the absence of an active market for the common shares as of June 30, 2020, the Company is required to estimate the fair value of its common shares at the time of each grant.

The Company considers a variety of factors in estimating the fair value of its common shares on each measurement date, including:

●	the Company’s historical and projected operating and financial performance;

●	the Company’s introduction of new products and services;

●	the Company’s completion of strategic acquisitions;

●	the Company’s stage of development;

●	the global economic outlook and its expected impact on the Company’s business; and

●	the market performance of comparable companies.

Income taxes

3.14. Income taxes

Current tax

Deferred tax

●	The initial recognition of goodwill

●	The initial recognition of an asset or liability in a transaction which is not a business combination and at the time of the transaction affects neither accounting or taxable profit, and

●	Investments in subsidiaries and jointly controlled entities where the Group is able to control the timing of the reversal of the difference and it is probable that the difference will not reverse in the foreseeable future

Recognition of deferred tax assets is restricted to those instances where it is probable that taxable profit will be available against which the difference can be utilized.

●	The same taxable group company, or

●

Foreign Currency

3.15. Foreign Currency

Foreign currency translation

Offsetting of financial assets and financial liabilities

3.16. Offsetting of financial assets and financial liabilities

Dividend

3.17. Dividend

Hedge accounting

3.18. Hedge accounting

method. The ineffective portion of gains and losses on derivatives used to manage cash flow interest rate risk are recognized in profit or loss within finance charges.

Standards, interpretations and amendments not yet effective

3.19. Standards, interpretations and amendments not yet effective

●

On February 12, 2021, the IASB issued amendments to IAS 8 to help entities distinguish between accounting policies and accounting estimates. The amendments to IAS 8 clarifies that:

accounting estimates are “monetary amounts in financial statements that are subject to measurement uncertainty.”

Entities develop accounting estimates if accounting policies require items in financial statements to be measured in a way that involves measurement uncertainty.

●

permit a lessee to apply the practical expedient regarding COVID-19-related rent concessions to rent concessions for which any reduction in lease payments affects only payments originally

due on or before 30 June 2022 (rather than only payments originally due on or before 30 June 2021);

require a lessee applying the amendment to do so for annual reporting periods beginning on or after 1 April 2021;

Specify that, in the reporting period in which a lessee first applies the amendment, a lessee is not required to disclose the information required by paragraph 28(f) of IAS 8.

●

The Company is assessing the impact of the amendment and expects that the impact would not have a material impact on the financial statements.

THE GROUP AND ITS OPERATIONS (Tables)

12 Months Ended

Jun. 30, 2021

THE GROUP AND ITS OPERATIONS [Abstract]

Percentage of Equity Interest in Direct Subsidiaries


			Ownership %
Description	Location	Nature of Business	2021		2020
Subsidiaries
IBEX Global Limited	Bermuda	Holding Company	100	%	100	%
DGS Limited	Bermuda	Holding Company	100	%	100	%
iSky Inc.	Bermuda	Holding Company	100	%	100	%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Jun. 30, 2021

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Depreciation on Property and Equipment Using the Straight Line Method


		Depreciation
Property and equipment	Useful economic life	method
Leasehold improvements	3 - 5 years or life of lease if less	Straight line
Furniture, fixture and office equipment	3 - 5 years	Straight line
Computer equipment	3 years	Straight line
Vehicles	5 years	Straight line
Right of Use Assets	expected term of lease	Straight line

Estimated Useful Lives of Intangible Assets

The significant intangibles recognized by the Group, their useful economic lives and the methods used to determine the cost of intangibles acquired in a business combination are as follows:


Intangible Asset	Useful economic life	Valuation method
Customer lists	5 - 6 years	Straight line
Software	3 - 5 years	Straight line

GOODWILL (Tables)

12 Months Ended

Jun. 30, 2021

GOODWILL [Abstract]

Goodwill Acquisition


	June 30,	June 30,
	2021	2020
	(US$’000)
Goodwill as of beginning of the year	11,832	11,832
Goodwill acquired during the year	—	—
Goodwill impaired during the year	—	—
Goodwill as of end of the year	11,832	11,832

Carrying Amount of Goodwill


	June 30,	June 30,
	2021	2020
	(US$’000)
IBEX	11,832	11,626
DGS	—	206
	11,832	11,832

Key Assumption of Goodwill Impairment

The following rates were used by the Group for the years ended June 30, 2021, 2020 and 2019:


	Average	Average		Terminal
	revenue	Gross	Discount	Growth
	growth rate	Margin	Rate	Rate
	%	%	%	%
June 30, 2021	9.2	29.0	13.2	5
June 30, 2020	7.9	26.2	13.2	5
June 30, 2019	5.6	25.5	10.6	5

OTHER INTANGIBLE ASSETS (Tables)

12 Months Ended

Jun. 30, 2021

OTHER INTANGIBLE ASSETS [Abstract]

Other Intangible Assets


			Customer
	Patents	Trademarks	lists	Software	Total
	(US$’000)
Cost
At July 1, 2020	541	371	2,817	20,466	24,195
Additions	—	—	—	1,463	1,463
Foreign exchange movements	—	—	—	20	20
At June 30, 2021	541	371	2,817	21,949	25,678
Accumulated amortization
At July 1, 2020	196	—	2,566	18,652	21,414
Impairment charge for the year	—	—	—	—	—
Amortization charge for the year	—	—	71	984	1,055
At June 30, 2021	196	—	2,637	19,636	22,469
Net book value
At June 30, 2021	345	371	180	2,313	3,209
At June 30, 2020	345	371	251	1,814	2,781

Cost
At July 1, 2019	541	371	2,817	18,464	22,193
Additions	—	—	—	2,021	2,021
Foreign exchange movements	—	—	—	(19)	(19)
At June 30, 2020	541	371	2,817	20,466	24,195
Accumulated amortization and impairment
At July 1, 2019	196	—	2,477	16,592	19,265
Impairment charge for the year	—	—	—	777	777
Amortization charge for the year	—	—	89	1,283	1,372
At June 30, 2020	196	—	2,566	18,652	21,414
Net book value
At June 30, 2020	345	371	251	1,814	2,781
At June 30, 2019	345	371	340	1,872	2,928

Amortization charge for the years ended June 30, 2021, 2020 and 2019 comprise of:


	June 30,	June 30,	June 30,
	2021	2020	2019
	(US$’000)
Amortization from continuing operations	1,055	1,372	1,722
Amortization from discontinued operations	—	—	5
Total	1,055	1,372	1,727

Estimated Amortization Expense


	June 30,		June 30,		June 30,
	2021		2020		2019
	(US$)
2022	1.2	million	0.7	million	0.8	million
2023	0.8	million	0.4	million	0.2	million
2024	0.5	million	—		—

PROPERTY AND EQUIPMENT (Tables)

12 Months Ended

Jun. 30, 2021

PROPERTY AND EQUIPMENT [Abstract]

Property, Plant and Equipment


			Furniture,			Assets
	Facility	Leasehold	fixture and	Computer		under
	Leases	Improvements	equipment	Equipment	Vehicles	Construction	Total
	(US$’000)
Cost
At July 1, 2020	83,665	20,127	26,410	50,603	1,026	741	182,572
Additions	29,388	5,351	4,625	10,396	298	1,092	51,150
Transfer from CWIP	—	248	440	53	—	(741)	—
Foreign exchange movements	1,227	65	171	210	8	—	1,681
Disposal	(3,207)	—	(10)	(423)	(50)	—	(3,690)
At June 30, 2021	111,073	25,791	31,636	60,839	1,282	1,092	231,713

Accumulated depreciation
At July 1, 2020	22,137	15,092	17,414	42,711	630	—	97,984
Charge for the year	13,988	3,033	3,378	6,521	222	—	27,142
Disposal	—	—	(10)	(74)	(32)	—	(116)
At June 30, 2021	36,125	18,125	20,782	49,158	820	—	125,010

Net book value
At June 30, 2021	74,948	7,666	10,854	11,681	462	1,092	106,703
At June 30, 2020	61,528	5,035	8,996	7,892	396	741	84,588

Cost
At July 1, 2019	74,077	17,318	19,775	42,984	759	2,781	157,694
Additions	12,288	1,638	5,704	6,775	393	741	27,539
Transfer from CWIP	—	1,128	710	943	—	(2,781)	—
Foreign exchange movements	358	43	221	71	(64)	—	629
Disposal	(3,058)	—	—	(170)	(62)	—	(3,290)
At June 30, 2020	83,665	20,127	26,410	50,603	1,026	741	182,572

Accumulated depreciation
At July 1, 2019	10,422	12,674	14,329	37,451	509	—	75,385
Charge for the year	12,149	2,418	3,085	5,279	169	—	23,100
Disposal	(434)	—	—	(19)	(48)	—	(501)
At June 30, 2020	22,137	15,092	17,414	42,711	630	—	97,984

Net book value
At June 30, 2020	61,528	5,035	8,996	7,892	396	741	84,588
At June 30, 2019	63,655	4,644	5,446	5,533	250	2,781	82,309

Depreciation Charge


	June 30,	June 30,	June 30,
	2021	2020	2019
	(US$’000)
Depreciation from continuing operations	27,142	23,100	19,173
Depreciation from discontinued operations	—	—	905
Total	27,142	23,100	20,078

Right of Use Assets


			Furniture,			Assets
	Facility	Leasehold	fixture and	Computer		under
	Leases	Improvements	equipment	Equipment	Vehicles	Construction	Total
	(US$’000)
Right-of-use assets
Balance at July 1, 2020	61,276	1,507	5,085	2,961	414	—	71,243
Additions	29,388	576	177	109	—	—	30,250
Disposal - net of depreciation	(3,207)	—	—	(349)	(8)	—	(3,564)
Transferred to owned	—	(1,123)	(4,434)	(1,629)	—	—	(7,186)
Foreign exchange movements	1,220	79	254	180	19	—	1,752
Depreciation charge for the year	(13,929)	(600)	(1,082)	(840)	(169)	—	(16,620)
Balance at June 30, 2021	74,748	439	—	432	256	—	75,875

Balance at July 1, 2019	63,357	321	1,320	913	282	1,488	67,681
Transfer from CWIP	—	388	703	397	—	(1,488)	—
Additions	12,288	1,474	4,900	2,835	309	—	21,806
Disposal - net of depreciation	(2,624)	—	—	(151)	(5)	—	(2,780)
Foreign exchange movements	323	34	121	28	(9)	—	497
Depreciation charge for the year	(12,068)	(710)	(1,959)	(1,061)	(163)	—	(15,961)
Balance at June 30, 2020	61,276	1,507	5,085	2,961	414	—	71,243

Lease Liabilities


	June 30,	June 30,
	2021	2020
	(US$’000)
Lease liabilities included in statement of financial position as of	83,999	74,712
Current	12,121	12,668
Non Current	71,878	62,044

INVESTMENT IN JOINT VENTURE (Tables)

12 Months Ended

Jun. 30, 2021

INVESTMENT IN JOINT VENTURE [Abstract]

Investments in Joint Venture


	June 30,	June 30,	June 30,
	2021	2020	2019
	(US$’000)
Opening balance	331	227	392
Return on investment during the year	—	—	(96)
Dividend received during the year	(650)	(430)	(420)
Share of profit for the year	577	534	351
Ending balance	258	331	227

Summarized Financial Information of Joint Venture Accounted for Using Equity Method

Summarized financial information of equity accounted Joint Venture from the financial statements of Lake Ball LLC is as follows:


	For the Year Ended
	June 30,	June 30,	June 30,
	2021	2020	2019
	(US$’000)

Revenue	4,342	3,152	2,140
Profit after tax	1,215	1,124	739
Other comprehensive income	—	—	—
Total comprehensive income	1,215	1,124	739

OTHER ASSETS (Tables)

12 Months Ended

Jun. 30, 2021

OTHER ASSETS [Abstract]

Other Assets


		June 30,	June 30,
		2021	2020
	(US$’000)
Deposits		3,715	3,087
Prepayments		633	918
Other		891	829
Other Assets		5,239	4,834

TRADE AND OTHER RECEIVABLES (Tables)

12 Months Ended

Jun. 30, 2021

TRADE AND OTHER RECEIVABLES [Abstract]

Trade and Other Receivables


		June 30,	June 30,
	Note	2021	2020
	(US$’000)
Trade receivables
Trade receivables - gross		69,715	55,862
Less: Allowance for credit losses	9.1	(2,301)	(1,877)
Trade receivables - net		67,414	53,985
Less: receivables attributable to related parties, net		(725)	(549)
Trade receivables - net closing balance		66,689	53,436

Other receivables
Prepayments		5,281	4,397
Advance Tax		4,233	1,832
VAT/Sales Tax receivables		2,947	1,651
Other receivables		1,223	923
Deposits		731	340
		14,415	9,143
		81,104	62,579

Allowance for Credit Losses


	June 30,	June 30,
	2021	2020
	(US$’000)
Opening balance	1,877	2,209
Foreign exchange movements	133	(228)
Loss allowance recognized during the year	291	224
Trade receivables written off against allowance	—	(328)
Closing balance	2,301	1,877

CASH AND CASH EQUIVALENTS (Tables)

12 Months Ended

Jun. 30, 2021

CASH AND CASH EQUIVALENTS [Abstract]

Cash and Cash Equivalents


	June 30,	June 30,
	2021	2020
	(US$’000)
Balances with banks in:
− current accounts	55,258	19,451
− deposit accounts (with a maturity of 3 months or less at inception)	2,559	2,396
	57,817	21,847
Cash in hand	25	23
	57,842	21,870

DEFERRED REVENUE (Tables)

12 Months Ended

Jun. 30, 2021

DEFERRED REVENUE [Abstract]

Deferred Revenue


	June 30,	June 30,
	2021	2020
	(US$’000)

Deferred revenue	7,087	3,904
Less: current portion of deferred revenue	(4,077)	(3,470)
	3,010	434

BORROWINGS (Tables)

12 Months Ended

Jun. 30, 2021

BORROWINGS [Abstract]

Borrowings


		June 30,	June 30,
	Note	2021	2020
		(US$’000)
Long-term other borrowings	13.1	6,205	9,783
Line of credit	13.2	22,312	21,475
		28,517	31,258
Less: Current portion of;
− long-term other borrowings	13.1	(4,404)	(6,001)
− line of credit	13.2	(22,312)	(21,475)
Less: Current portion of borrowings		(26,716)	(27,476)
Non-current portion of borrowings		1,801	3,782

Long-term Other Borrowings

13.1. Long-term other borrowings


		June 30,	June 30,
	Note	2021	2020
		(US$’000)
Financial Institutions
IBM Credit LLC	13.1.1	180	974
Hewlett-Packard Financial Services Co.	13.1.1	511	923
IPFS Corporation	13.1.2	1,008	759
Heritage Bank of Commerce	13.2.3	—	1,833
PNC Term loan	13.2.1	—	2,359
First Global Bank Limited Demand loan	13.1.3	3,149	2,935
JS Bank Limited	13.1.4	1,357	—
		6,205	9,783
Less: Current portion of long-term other borrowings		(4,404)	(6,001)
Non-current portion of long term other borrowings		1,801	3,782

Line of Credit

13.2. Line of credit


		June 30,	June 30,
	Note	2021	2020
	(US$’000)
Financial Institutions
PNC Bank, N.A.	13.2.1	22,312	19,830
Seacoast Business Funding	13.2.2	—	220
Heritage Bank of Commerce	13.2.3	—	1,425
		22,312	21,475

Changes in Liabilities Arising from Financing Activities

13.4. Changes in liabilities arising from financing activities:


	June 30,	June 30,	June 30,
	2021	2020	2019
	(US$’000)
Balance of debt, July 1,	105,970	118,253	62,958
Changes from operating cash flows	(827)	(3,379)	458
Changes from financing cash flows	(26,018)	(33,746)	10,124
New leases	31,790	24,295	89,771
Non-cash item - disposal of subsidiary	—	—	(43,431)
Foreign exchange movement	1,601	547	(1,627)
Balance of debt, June 30,	112,516	105,970	118,253

OTHER NON-CURRENT LIABILITIES (Tables)

12 Months Ended

Jun. 30, 2021

OTHER NON-CURRENT LIABILITIES [Abstract]

Other Non-Current Liabilities


		June 30,	June 30,
	Note	2021	2020
		(US$’000)
Defined benefit scheme	14.1	950	677
Warrant liability	28	7,784	3,889
Phantom stock plan	19.2	514	411
Other	14.2	1,890	2,081
		11,138	7,058

Principal Assumptions used for Purposes of Actuarial Valuations

The principal assumptions used for the purposes of the actuarial valuations are as follows:


	June 30,		June 30,
	2021		2020
	%		%
Discount rates	4.87	%	3.98	%
Expected rate of salary increase	3.00	%	2.00	%

Amounts Recognized in Statement of Profit or Loss and Other Comprehensive Income in Respect of Defined Benefit Scheme

Amounts recognized in the consolidated statement of profit or loss and other comprehensive income in respect of defined benefit scheme are as follows:


	June 30,	June 30,	June 30,
	2021	2020	2019
	(US$’000)
Current service cost	209	100	107
Interest on obligation	19	21	22
Total	228	121	129

Amount Included in Statement of Financial Position in Other Non-Current Liabilities Arising from Defined Benefit

The amount included in the statement of financial position in other non-current liabilities arising from defined benefit obligations is as follows:


	June 30,	June 30,
	2021	2020
	(US$’000)
Present value of unfunded defined benefit obligation	950	677
Net liability arising from defined benefit obligation	950	677

Movement in Present Value of Defined Benefit Obligation

The movement in the present value of the defined benefit obligation in the current year is as follows:


	June 30,	June 30,
	2021	2020
	(US$’000)
Present value of defined benefit obligation at the beginning of the year	677	356
Foreign exchange movements	19	16
Current service cost	209	100
Interest cost	19	21
Actuarial gains	26	184
Present value of defined benefit obligation at the end of the year	950	677

TRADE AND OTHER PAYABLES (Tables)

12 Months Ended

Jun. 30, 2021

TRADE AND OTHER PAYABLES [Abstract]

Trade and Other Payables


		June 30,	June 30,
	Note	2021	2020
		(US$’000)
Trade creditors		5,976	10,354
Accrued expenses		11,784	12,060
Accrued compensation	15.1	29,678	30,009
Cash flow hedge	15.2	316	518
Warrant liability	28	5,837	—
Others		1,272	272
		54,863	53,213

FINANCE EXPENSES (Tables)

12 Months Ended

Jun. 30, 2021

FINANCE EXPENSES [Abstract]

Finance Expenses


	June 30,	June 30,	June 30,
	2021	2020	2019
	(US$’000)
Interest on borrowings	1,756	2,453	2,858
Factoring Fees	73	186	242
Finance charges - right of use assets	7,078	6,457	4,394
Bank charges	127	332	215
Total	9,034	9,428	7,709

Finance expenses from discontinued operations	—	—	5,674

INCOME TAXES (Tables)

12 Months Ended

Jun. 30, 2021

INCOME TAXES [Abstract]

Major components of income tax expense (benefit)

The major components of income tax expense are:


	June 30,	June 30,	June 30,
	2021	2020	2019
	(US$’000)
Current tax:
Current year	3,876	1,850	836
Change in estimates related to prior year	80	201	(21)
	3,956	2,051	815
Deferred tax:
Origination and reversal of temporary differences	(2,062)	1,923	8,427
Changes in tax rates	24	270	(124)
Recognition of previously unrecognized tax losses	—	(1,907)	(702)
Recognition of previously unrecognized net deductible temporary differences	—	(22)	29
	(2,038)	264	7,630

Total expense for the year	1,918	2,315	8,445

Income tax expense

Income tax expense is attributable to:


	June 30,	June 30,	June 30,
	2021	2020	2019
	(US$’000)
	1,918	2,315	3,615
Income tax expense from discontinued operations	—	—	4,830
Total	1,918	2,315	8,445

Tax effect of deductible / (taxable) temporary differences

The tax effects of the Group’s temporary differences and carry forwards are as follows:

Tax effect of deductible / (taxable) temporary differences


	June 30,	June 30,
	2021	2020
	(US$’000)
Deductible temporary differences:
− Provisions and write-offs against accounts receivable	30	85
− Unpaid accrued expenses / compensation	3,413	687
− Net operating losses	834	1,629
− Property and equipment	385	348
− Lease liability (right of use assets)	5,692	5,101
	10,354	7,850
Taxable temporary differences:
− Property and equipment	(133)	(105)
− Right of use assets	(5,097)	(4,661)
− Intangible assets	(958)	(978)
	(6,188)	(5,744)
Net deferred tax assets	4,166	2,106

	June 30,	June 30,
	2021	2020
	(US$’000)
Deferred tax asset	4,252	2,223
Deferred tax liability	(86)	(117)
	4,166	2,106

Movement in Deferred Tax Assets (Liability)

Movement in deferred tax assets / (liability):


	June 30,	June 30,
	2021	2020
	(US$’000)
Opening deferred tax assets	2,106	2,370
Deferred tax benefits / (expense)	2,038	(264)
Foreign exchange and other rate differences	22	—
Net deferred tax assets	4,166	2,106

Unrecognized deferred tax assets

A deferred tax asset has not been recognized for the following gross amounts:


	June 30,	June 30,
	2021	2020
	(US$’000)
Unused tax losses	26,575	25,320
Deductible temporary differences	81	253
Unused tax losses and deductible differences - unrecognized	26,656	25,573

Reconciliation of effective tax rate


	June 30,	June 30,	June 30,
	2021	2020	2019
	(US$’000)
Profit / (loss) for the year	2,847	7,770	10,965
Income tax expense / (benefit)	1,918	2,315	8,445
Net profit / (loss) before income tax	4,765	10,085	19,410


	June 30,		June 30,	June 30,		June 30,	June 30,		June 30,
	2021		2021	2020		2020	2019		2019
	(%)		(US$’000)	(%)		(US$’000)	(%)		(US$’000)

Income tax expense using the applicable tax rate	21.0	%	1,001	21.0	%	2,118	21.0	%	4,230
State taxes (net of federal tax effect)	7.3	%	349	12.9	%	1,303	5.3	%	1,073
Effect of tax and exchange rates in foreign jurisdictions	3.7	%	175	(7.7)	%	(776)	5.1	%	1,043
Foreign subsidiaries taxed at lower rate or tax exempt	22.3	%	1,064	1.9	%	191	(1.9)	%	(380)
Non-deductible expenses / exempt income	5.4	%	256	3.3	%	328	2.3	%	470
Employment and other tax credits	(20.3)	%	(967)	—	%	—	—	%	—
Cancellation of legacy ESOP plan	—	%	—	—	%	—	15.2	%	3,104
Effect of disposal of subsidiaries	—	%	—	—	%	—	(2.0)	%	(403)
Prior year provision / other items	(3.8)	%	(180)	(3.2)	%	(320)	0.4	%	73
Unrecognized losses utilized during the year	—	%	—	10.1	%	1,018	—	%	—
Change in unrecognized temporary differences	4.6	%	220	(15.3)	%	(1,547)	(3.7)	%	(765)
	40.2	%	1,918	23.0	%	2,315	41.7	%	8,445

SHARE OPTION PLANS (Tables)

12 Months Ended

Jun. 30, 2021

Stock Plan [Abstract]

Share-based Payments Expenses

The share-based payments expenses in the consolidated statements of profit or loss and other comprehensive income consist of the following:


	June 30,	June 30,	June 30,
	2021	2020	2019
	(US$’000)
Cash settled:
Phantom Stock Plan	851	(31)	(300)

Equity settled:
2017 IBEX Stock Plan	—	—	4,132
2018 Restricted Stock Awards (RSA)	45	95	255
2020 Long term Incentive Plan	3,625	295	—
	3,670	390	4,387

Total	4,521	359	4,087

Share-based payments from discontinued operations	—	—	875

Phantom Stock Plan [Member]

Stock Plan [Abstract]

Summary of Options Outstanding and Exercisable

The fair value of options issued in February 2018, March 2018 and February 2021 is $5.53 - $12.82 per option as of June 30, 2021. A roll forward of the phantom options are as follows:


	2021		2020
	Weighted	Share	Weighted	Share
	average	Options	average	Options
	exercise price	(Number)	exercise price	(Number)
	(US$)		(US$)
Options outstanding as of beginning of the period	6.81	54,575	6.81	54,575
Options granted during the period	20.86	167,935	—	—
Options exercised during the period	6.81	(11,770)	—	—
Options forfeited / cancelled / expired during the period	—	—	—	—
Options outstanding as of end of the period	18.01	210,740	6.81	54,575

Options exercisable as of end of the period	12.90	95,660	6.81	45,684

2018 RSA Plan - Non-Executive Management [Member]

Stock Plan [Abstract]

Summary of Restricted Share awards ("RSAs") Outstanding and Exercisable

A summary of the Restricted Share awards (“RSAs”) outstanding and exercisable as of June 30, 2021 and June 30, 2020 are as follows:



	2021		2020
	Grant Date		Grant Date
	Fair Market	RSA	Fair Market	RSA
	Value	(Number)	Value	(Number)
	(US$)		(US$)
RSAs outstanding as of beginning of the period	0.61	650,193	0.61	916,929
RSAs granted during the period	0.61	280	—	—
RSAs exercised during the period	—	—	—	—
RSAs forfeited / cancelled / expired during the period	0.61	(12,088)	0.61	(266,736)
RSAs outstanding as of end of the period	0.61	638,385	0.61	650,193

RSAs vested as of end of the period	0.61	587,756	0.61	481,859

2018 RSA Plan Non-Performance - Executive Leadership Team [Member]

Stock Plan [Abstract]

Summary of Restricted Share awards ("RSAs") Outstanding and Exercisable

A summary of the Restricted Share awards outstanding and exercisable as of June 30, 2021 and June 30, 2020 are as follows:


	2021		2020
	Grant Date		Grant Date
	Fair Market	RSA	Fair Market	RSA
	Value	(Number)	Value	(Number)
	(US$)		(US$)
RSAs outstanding as of beginning of the period	0.61	918,719	0.61	1,006,519
RSAs granted during the period	—	—	—	—
RSAs exercised during the period	—	—	—	—
RSAs forfeited / cancelled / expired during the period	—	—	0.61	(87,800)
RSAs outstanding as of end of the period	0.61	918,719	0.61	918,719

RSAs vested as of end of the period	0.61	844,452	0.61	647,702

2018 Restricted Stock Awards, Performance - Executive Leadership Team [Member]

Stock Plan [Abstract]

Summary of Restricted Share awards ("RSAs") Outstanding and Exercisable

A summary of the Restricted Share awards outstanding and exercisable as of June 30, 2021 and June 30, 2020 are as follows:


	2021		2020
	Grant Date		Grant Date
	Fair Market	RSA	Fair Market	RSA
	Value	(Number)	Value	(Number)
	(US$)		(US$)
RSAs outstanding as of beginning of the period	0.61	272,748	0.61	449,926
RSAs granted during the period	—	—	—	—
RSAs exercised during the period	—	—	—	—
RSAs forfeited / cancelled / expired during the period	—	—	0.61	(177,178)
RSAs outstanding as of end of the period	0.61	272,748	0.61	272,748

RSAs vested as of end of the period	0.61	207,961	0.61	46,809

2020 Long Term Incentive Plan [Member]

Stock Plan [Abstract]

Summary of Options Outstanding and Exercisable

A summary of the options / awards outstanding and exercisable as of June 30, 2021 and June 30, 2020 are as follows:


	2021		2020
		Share		Share
	Weighted	Options /	Weighted	Options /
	average	awards	average	awards
	exercise price	(Number)	exercise price	(Number)
	(US$)		(US$)
Options / awards outstanding as of beginning of the year	12.75	338,432	12.75	338,432
Options / awards granted during the year	19.23	525,143	—	—
Options / awards exercised during the year	19.00	(1,442)	—	—
Options / awards forfeited / cancelled / expired during the year	15.96	(16,215)	—	—
Options / awards outstanding as of end of the year	16.70	845,918	12.75	338,432

Options / awards exercisable as of end of the year	16.97	366,865	12.75	40,500

EARNINGS PER SHARE (Tables)

12 Months Ended

Jun. 30, 2021

EARNINGS PER SHARE [Abstract]

Earnings Per Share

For the year ended June 30, 2019 the effect of conversion would be dilutive as the company recorded a loss for that year from continuing operations.


	June 30,	June 30,	June 30,
	2021	2020	2019
	(US$’000)
Total - Income attributable to shareholders of the Holding Company	2,847	7,770	10,965
Continuing operations - Income / (loss) attributable to shareholders of the Holding Company	2,847	7,770	(4,519)

Total – Income attributable to ordinary shareholders of the company	2,847	—	—
Continuing operations – Income attributable to ordinary shareholders of the company	2,847	—	—

	(Shares)
Weighted average number of ordinary shares - basic	17,649,446	1,176,370	956,835

	(US$)
Total - Basic earnings per share	0.16	—	—
Continuing operations - Basic earnings per share	0.16	—	—

	(Shares)
Weighted average number of ordinary shares - diluted	18,384,921	12,936,962	12,461,182

	(US$)
Total - Diluted earnings per share	0.15	—	—
Continuing operations - Diluted earnings / (loss) per share	0.15	—	(0.36)

FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES (Tables)

12 Months Ended

Jun. 30, 2021

FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES [Abstract]

Financial Instruments Held by Category

A summary of the financial instruments held by category is provided below:


	June 30,	June 30,
	2021	2020
	(US$’000)
Financial assets - amortized cost
Deposits	4,446	3,427
Trade receivables	66,689	53,436
Other receivables	1,223	923
Due from related parties	1,755	1,587
Cash and cash equivalents	57,842	21,870
	131,955	81,243
Financial liabilities - amortized cost
Lease liabilities	83,999	74,712
Borrowings	28,517	31,258
Trade and other payables	22,695	25,773
Due to related parties	4,275	5,739
	139,486	137,482
Financial liabilities – fair value through profit and loss
Warrant liabilities (Note 28)	13,621	3,889
	13,621	3,889

Financial liabilities – fair value through other comprehensive income
Cash flow hedge (Note 15)	316	518
	316	518

Movement of Warrant Liabilities

Movement of Warrant liabilities as of June 30, 2021 and 2020:


	June 30,	June 30,
	2021	2020
	(US$’000)
Opening balance	3,889	751
Fair Value Adjustment	7,786	2,305
Warrants vested during the year	1,946	833
Closing balance	13,621	3,889

Financial Liabilities Measured at Fair Value


		June 30,	June 30,
		2021	2020
		(US$’000)
Financial liabilities – fair value through profit and loss	Fair value hierarchy
Warrant liabilities (Note 28)	Level 3	13,621	3,889

Financial liabilities – fair value through other comprehensive income	Fair value hierarchy
Cash flow hedge (Note 15)	Level 2	316	518
		13,937	4,407

Credit Risk

Credit rating wise breakup of bank balances:


	June 30,	June 30,
	2021	2020
	(US$’000)
A-1+	2,396	1,553
A-1	—	94
A+	45,082	4,295
A	3,138	2,803
A-	403	1
B-	—	2,693
B+	955	819
BA3	90	165
BB+	—	62
BBB+	4,635	7,834
BBB	1,118	1,528
Non - Rated	25	23
Total	57,842	21,870

The maximum exposure to credit risk is as follows:


	June 30,	June 30,
	2021	2020
	(US$’000)
Financial assets - amortized cost
Deposits	4,446	3,427
Trade receivables	66,689	53,436
Other receivables	1,223	923
Due from related parties	1,755	1,587
Cash and cash equivalents	57,842	21,870
	131,955	81,243

Concentration of Credit Risk with Clients

The Group’s top three clients based on respective fiscal year revenue are shown below:


	2021
	Revenue			Trade debts gross
	Amount			Amount
	(US$ '000)	% of total		(US$ '000)	% of total
Client 1	51,991	12	%	6,169	9	%
Client 2	55,181	12	%	7,247	10	%
Client 3	48,245	11	%	4,936	7	%
Subtotal	155,417	35	%	18,352	26	%
Others	288,245	65	%	51,363	74	%
Revenue from external customers	443,662	100	%	69,715	100	%


	2020
	Revenue			Trade debts gross
	Amount			Amount
	(US$ '000)	% of total		(US$ '000)	% of total
Client 1	64,937	16	%	7,425	13	%
Client 2	73,743	18	%	114	0	%
Client 3	38,528	10	%	9,012	16	%
Subtotal	177,208	44	%	16,551	30	%
Others	227,927	56	%	39,311	70	%
Revenue from external customers	405,135	100	%	55,862	100	%


	2019
	Revenue			Trade debts gross
	Amount			Amount
	(US$ '000)	% of total		(US$ '000)	% of total
Client 1	74,835	20	%	10,770	16	%
Client 2	67,094	18	%	13,716	21	%
Client 3	44,509	12	%	9,042	14	%
Subtotal	186,438	51	%	33,528	51	%
Others	181,942	49	%	32,358	49	%
Revenue from external customers	368,380	100	%	65,886	100	%

Revenue from discontinued operations	64,740	—		—	—

Expected Credit Loss for Trade Receivables

On the above basis the expected credit loss for trade receivables as at June 30, 2021 and June 30, 2020 was determined as follows:


	June 30, 2021
	(US$’000)
			Due: 0 to 30		Due: 31 - 60		Due: 61 to 90		Due: 91 - 180		Due: over 180
	Not overdue		days		days		days		days		days		Total
Expected credit loss rate	0	%	0	%	1	%	17	%	25	%	77	%	—
Gross carrying amount	65,090		1,933		192		190		300		2,010		69,715
Lifetime expected credit loss	4		6		1		33		74		1,545		1,663
Individually impaired trade receivables													638
Total allowance for credit losses													2,301


	June 30, 2020
	(US$’000)
		Due: 0 to 30		Due: 31 - 60		Due: 61 to 90		Due: 91 - 180		Due: over 180
	Not overdue	days		days		days		days		days		Total
Expected credit loss rate	—	1	%	2	%	11	%	14	%	90	%	—
Gross carrying amount	50,630	2,513		918		138		83		1,580		55,862
Lifetime expected credit loss	—	15		14		15		12		1,419		1,475
Individually impaired trade receivables												402
Total allowance for credit losses												1,877

Details of Individually Credit Impaired Balances

Below are the details of individually credit impaired balances as of June 30, 2021:


	June 30,	June 30,
	2021	2020
	(US$’000)
Credit impaired trade receivables - Gross carrying amount	2,142	1,801
Expected credit loss allowance	(2,124)	(1,785)
	18	16

Assets (Liability) Contractual Maturities

The following table presents the contractual maturities (liquidity analysis) as of June 30, 2021 and 2020:


	June 30, 2021
	Less than 1
	year	1 - 3 years	4 - 5 years	Total
	(US$’000)
Deposits	731	3,715	—	4,446
Trade receivables	66,689	—	—	66,689
Other receivables	1,223	—	—	1,223
Due from related parties	1,755	—	—	1,755
Cash and cash equivalents	57,842	—	—	57,842
Subtotal	128,240	3,715	—	131,955
Lease liability	18,344	32,811	61,730	112,885
Long - term other borrowings	4,626	1,855		6,481
Line of credit	22,312	—	—	22,312
Trade and other payables	23,011	—	—	23,011
Due to related parties	4,275	—	—	4,275
Subtotal	72,568	34,666	61,730	168,964
Net liquidity position	55,672	(30,951)	(61,730)	(37,009)


	June 30, 2020
	Less than 1
	year	1 - 3 years	4 - 5 years	Total
	(US$’000)
Deposits	340	3,087	—	3,427
Trade receivables	53,436	—	—	53,436
Other receivables	923	—	—	923
Due from related parties	1,587	—	—	1,587
Cash and cash equivalents	21,870	—	—	21,870
Subtotal	78,156	3,087	—	81,243
Lease liability	18,717	29,762	54,830	103,309
Long - term other borrowings	6,468	3,994	—	10,462
Line of credit	21,475	—	—	21,475
Trade and other payables	26,291	—	—	26,291
Due to related parties	5,739	—	—	5,739
Subtotal	78,690	33,756	54,830	167,276
Net liquidity position	(534)	(30,669)	(54,830)	(86,033)

TRANSACTION WITH RELATED PARTIES (Tables)

12 Months Ended

Jun. 30, 2021

TRANSACTION WITH RELATED PARTIES [Abstract]

Balances and Transactions Between Related Parties

Material related party balances and transactions other than reorganization transaction and those disclosed elsewhere in these consolidated financial statements, are given below:


			June 30, 2021
			Service	Service	Due from	Due to
		Relationship with	delivery	delivery	related	related
	Note	related party	revenue	expense	parties	parties
			(US$’000)
BPO Solutions, Inc.	23.1	Related entity	—	—	—	3,610
Alert Communications, Inc.	23.1	Related entity	113	—	696	—
TRG Marketing Services, Inc.	23.1	Related entity	—	—	19	—
Afiniti International Holdings Limited	23.1	Related entity	56	27	—	168
TRG Holdings, LLC	23.1 & 23.4	Related entity	—	—	—	122
The Resource Group International Limited	23.1 & 23.7	Parent	—	—	163	—
Third Party Lessor	23.2 & 23.5	Related entity	201	405	87	97
3rd Party Client and Internet Services Provider	23.3	Related entity	679	77	638	278
IBEX Limited Executive Leadership	23.6	Officers	—	—	13	—
TRG (Private) Limited	23.1	Related entity	—	—	121	—
Etelequote	23.1	Related entity	115	—	18	—
			1,164	509	1,755	4,275


			June 30, 2020
			Service	Service	Due from	Due to
		Relationship with	delivery	delivery	related	related
	Note	related party	revenue	expense	parties	parties
			(US$’000)
BPO Solutions, Inc.	23.1	Related entity	—	—	—	3,611
Alert Communications, Inc.	23.1	Related entity	164	—	534	—
TRG Marketing Services, Inc.	23.1	Related entity	—	—	19	—
Afiniti International Holdings Limited	23.1	Related entity	53	48	—	198
TRG Holdings, LLC	23.1 & 23.4	Related entity	—	—	—	1,708
The Resource Group International Limited	23.1 & 23.7	Parent	—	—	163	—
Third Party Lessor	23.2 & 23.5	Related entity	310	489	147	9
3rd Party Client and Internet Services Provider	23.3	Related entity	764	73	402	179
IBEX Holdings Executive Leadership	23.6	Officers	—	—	12	—
TRG (Private) Limited	23.1	Related entity	—	—	—	34
Etelequote	23.1	Related entity	34	—	310	—
			1,325	610	1,587	5,739


			June 30, 2019
			Service	Service
		Relationship with	delivery	delivery
	Note	related party	revenue	expense
			(US$’000)
Alert Communications, Inc.	23.1	Related entity	150	—
Afiniti International Holdings Limited	23.1	Related entity	54	70
Third Party Lessor	23.2 & 23.5	Related entity	342	77
3rd Party Client and Internet Services Provider	23.3	Related entity	883	73
			1,429	220

SEGMENT INFORMATION (Tables)

12 Months Ended

Jun. 30, 2021

SEGMENT INFORMATION [Abstract]

Revenue from Geographical Areas

The Group generates approximately 97% of its revenue from clients based in the United States of America.


	June 30,	June 30,	June 30,
	2021	2020	2019
	(US$’000)
Revenue from continuing operations
United States of America	428,831	391,933	361,078
Others	14,831	13,202	7,302
Total	443,662	405,135	368,380

Revenue from discontinued operations:
United States of America	—	—	64,740

Revenue Disaggregated by Pattern of Revenue Recognition

The Group’s revenue disaggregated by pattern of revenue recognition is as follows:


	June 30,	June 30,	June 30,
	2021	2020	2019
	(US$’000)
Pattern of Revenue recognition
− Services transferred at a point in time	40,775	48,486	52,897
− Services transferred over time	402,887	356,649	315,483
	443,662	405,135	368,380

Movement in Deferred Revenue

The movement in the deferred revenue is as follows:


	June 30,	June 30,
	2021	2020
	(US$’000)
Opening balance	3,904	5,141
Revenue recognized during the year	(5,416)	(6,128)
Revenue deferred during the year	8,599	4,891
Closing balance	7,087	3,904

Deferred Revenue Expected to be Recognized

The following aggregated amounts of deferred revenue from existing contracts that are to be recognized in revenue in the following fiscal years:


	FY2022	FY2023	FY2024	FY2025	Total
	(US$’000)
Deferred Revenue expected to be recognized	4,077	2,300	663	47	7,087

Non-current Assets by Location

25.2. Non-current assets by location


	June 30,	June 30,
	2021	2020
	(US$’000)
United States of America	28,668	32,482
Others	99,993	74,495

Total¹	128,661	106,977
¹Exludes deferred tax asset

PAYROLL AND RELATED COSTS (Tables)

12 Months Ended

Jun. 30, 2021

Expenses Recognized for Employee Benefits

Expenses recognized for employee benefits are analyzed below:


	June 30,	June 30,	June 30,
	2021	2020	2019
	(US$’000)
Salaries and other employee costs	247,926	228,818	216,617
Social security and other taxes	47,874	46,480	37,333
Retirement - contribution plan	771	823	513
Pensions - defined benefit scheme	228	134	129
Total payroll and related costs	296,799	276,255	254,592

Payroll and related costs from discontinued operations	—	—	22,182

Remuneration of Key Management Personnel


26.1 Remuneration of Key Management Personnel

The key management personnel include the directors.
	June 30,	June 30,	June 30,
	2021	2020	2019
	(US$’000)
Salaries and other employee costs	5,293	5,524	4,129
Share - based payments	1,671	214	2,167
Total remuneration of key management personnel	6,964	5,738	6,296

OTHER OPERATING COSTS (Tables)

12 Months Ended

Jun. 30, 2021

OTHER OPERATING COSTS [Abstract]

Other Operating Costs


		June 30,	June 30,	June 30,
	Note	2021	2020	2019
		(US$’000)
Rent and utilities		8,462	7,802	6,272
Communication		7,497	7,519	7,546
Facilities expense		22,647	18,107	13,765
Travel and housing		1,679	7,972	6,353
Local transportation	27.1	13,768	3,977	2,216
Insurance		4,837	1,516	1,731
Legal and professional expenses	27.2	10,618	6,652	9,241
Allowance for expected credit loss		291	224	237
Others		7,066	10,301	7,127
Other Operating Costs		76,865	64,070	54,488

Other Operating costs from discontinued operations		—	—	3,241

RECONCILIATION OF PROFIT / LOSS BEFORE TAXATION (Tables)

12 Months Ended

Jun. 30, 2021

RECONCILIATION OF PROFIT / LOSS BEFORE TAXATION [Abstract]

Reconciliation of Profit/Loss Before Taxation


		June 30,	June 30,	June 30,
	Note	2021	2020	2019
		(US$’000)
Net income after taxation		2,847	7,770	10,965
Income tax expense from continuing operations	18	1,918	2,315	3,615
Income tax expense from discontinued operations	30.2	—	—	4,830
Total income before taxation		4,765	10,085	19,410

HOLDING COMPANY INDIRECT SUBSIDIARIES (Tables)

12 Months Ended

Jun. 30, 2021

HOLDING COMPANY INDIRECT SUBSIDIARIES [Abstract]

Indirect Subsidiaries

The following entities are indirect subsidiaries of the Holding Company through IBEX Global Limited:


			Ownership %
Description	Location	Nature of Business	2021		2020
IBEX Global Solutions Limited	England	Holding company	100	%	100	%
IBEX Global Limited	Bermuda	Holding company	100	%	100	%
Lovercius Consultants Limited	Cyprus	Call center	100	%	100	%
IBEX Global Europe	Luxembourg	Tech support services	100	%	100	%
IBEX Global ROHQ	Philippines	Regional HQ	100	%	100	%
IBEX Global Solutions, Inc. (formerly TRG Customer Solutions, Inc.)	USA	Call center	100	%	100	%
TRG Customer Solutions (Canada), Inc.	Canada	Call center	100	%	100	%
TRG Marketing Solutions Limited	England	Call center	100	%	100	%
Virtual World (Private) Limited	Pakistan	Call center	100	%	100	%
IBEX Philippines, Inc.	Philippines	Call center	100	%	100	%
IBEX Global Solutions (Philippines) Inc.	Philippines	Call center	100	%	100	%
TRG Customer Solutions (Philippines) Inc.	Philippines	Call center	100	%	100	%
IBEX Customer Solutions Senegal S.A. (formerly TRG Senegal SA)	Senegal	Call center	100	%	100	%
IBEX Global Solutions (Private) Limited	Pakistan	Call center	100	%	100	%
IBEX Global MENA FZE	Dubai	Call center	100	%	100	%
IBEX Global Bermuda Ltd	Bermuda	Call center	100	%	100	%
IBEX Global Solutions Nicaragua SA	Nicaragua	Call center	100	%	100	%
IBEX Global St. Lucia Limited	St. Lucia	Holding company	100	%	100	%
IBEX Global Jamaica Limited	Jamaica	Call center	100	%	100	%
IBEX Receivable Solutions, Inc	USA	Call center	100	%	—	%
IBEX Global Solutions France SARL	France	Call center	100	%	100	%
IBEX Global Solutions Holding Inc.	USA	Holding company	100	%	—	%
Digital Globe Services, LLC	USA	Internet marketing for residential cable services	100	%	—	%
Telsat Online, LLC	USA	Internet marketing for non - cable telco services	100	%	—	%
7 Degrees LLC	USA	Digital marketing agency	100	%	—	%

The following entities are indirect subsidiaries of the Holding Company through DGS Limited:


			Ownership %
Description	Location	Nature of Business	2021	-	2020
Digital Globe Services, Inc	USA	Internet marketing for residential cable services	—	%	100	%
Telsat Online, Inc.	USA	Internet marketing for non - cable telco services	—	%	100	%
DGS Worldwide Marketing Limited	Cyprus	Holding company and global marketing	100	%	100	%
DGS (Pvt.) Limited	Pakistan	Call center and support services	100	%	100	%
7 Degrees LLC	USA	Digital marketing agency	—	%	100	%

Joint Venture

The following entity is a Joint venture with membership interest held by Digital Globe Services, LLC:


			Ownership %
Description	Location	Nature of Business	2021		2020
Lakeball LLC (Note 7)	USA	Internet Marketing for commercial cable services	47.5	%	47.5	%

Major Classes of Assets and Liabilities of Discontinued Operations


		As of June 26,
		2019
		(US$’000)
Assets
Property and equipment and Intangibles		9,463
Renewal receivables		72,183
Trade and other receivables		1,129
Cash and cash equivalents		3,554
Total assets		86,329

Liabilities
Borrowings & Financing		43,431
Trade and other payables		9,977
Related party loans		—
Other Liabilities		5,327
Total liabilities		58,735

Net Assets		27,594

Result of Discontinued Operations

Result of discontinued operations:


		June 30, 2019
		(US$’000)
Revenue		64,740
Other operating income		2,923

Payroll and related costs		22,182
Share-based payments		875
Reseller commission and lead expenses		14,467
Depreciation and amortization		910
Other operating costs		3,241
Income from operations		25,988

Finance expenses		(5,674)
Income before taxation		20,314

Income tax expense		(4,830)
Net income for the period from discontinued operations, net of tax		15,484

Statement of Cash Flows

Statement of cash flows

The statement of cash flows includes the following amounts relating to discontinued operations:


		June 30, 2019
		(US$’000)
Operating activities		(13,396)
Investing activities		(867)
Financing activities		12,720
Net cash flow from discontinued operations		(1,543)

THE GROUP AND ITS OPERATIONS (Details) $ in Thousands, item in Millions	12 Months Ended
	Jun. 30, 2021 USD ($) item	Jun. 30, 2020 USD ($)	Jun. 30, 2019 USD ($)	Jun. 30, 2018 USD ($)
Going Concern [Abstract]
Number of interactions each year with consumers \| item	100
Net income	$ 2,847	$ 7,770	$ 10,965
Net cash generated from operating activities	25,897	51,719	2,202
Accumulated deficit	(110,680)	(109,527)
Current liabilities in excess of current assets	35,700
Borrowings	26,716	27,476
Proceeds from borrowings	22,300
Cash and cash equivalents	57,842	21,870	8,873	$ 13,519
Transportation expense	8,300
Net proceeds from initial public offering of common stock	63,107
Revenue	$ 443,662	$ 405,135	$ 368,380

THE GROUP AND ITS OPERATIONS, Nature of business and ownership percentage (Details)	1 Months Ended	12 Months Ended
	Apr. 30, 2017	Jun. 30, 2021	Jun. 30, 2020
IBEX [Member]
Nature of business and ownership percentage [Abstract]
Name of subsidiary		IBEX Global Limited
Location		Bermuda
Nature of business		Holding Company
Ownership interest	100.00%	100.00%	100.00%
DGS [Member]
Nature of business and ownership percentage [Abstract]
Name of subsidiary		DGS Limited
Location		Bermuda
Nature of business		Holding Company
Ownership interest	100.00%	100.00%	100.00%
iSky, Inc. [Member]
Nature of business and ownership percentage [Abstract]
Name of subsidiary		iSky Inc.
Location		Bermuda
Nature of business		Holding Company
Ownership interest	100.00%	100.00%	100.00%

BASIS OF PREPARATION (Details)	1 Months Ended		12 Months Ended
BASIS OF PREPARATION (Details)	Dec. 31, 2018 USD ($) $ / shares	Apr. 30, 2017	Jun. 30, 2021 Y EquityInstruments $ / shares	Jun. 30, 2020 USD ($)	Jun. 30, 2019	Dec. 22, 2018 USD ($)
Functional and Presentation Currency [Abstract]
Percentage of revenue			100.00%	100.00%	100.00%
Critical Accounting Estimates and Judgements [Abstract]
Weighted-average expected life (in years) \| Y			6
Valuations of Common Shares [Abstract]
Number of shares granted (in shares) \| EquityInstruments			525,143
Fair value of common shares (in dollars per share) \| $ / shares			$ 19.52
Preference shares, aggregate value \| $						$ 149,200,000
IBEX [Member]
Basis of Accounting and Presentation [Abstract]
Ownership interest acquired		100.00%	100.00%	100.00%
Etelequote [Member]
Basis of Accounting and Presentation [Abstract]
Ownership interest acquired		100.00%
DGS [Member]
Basis of Accounting and Presentation [Abstract]
Ownership interest acquired		100.00%	100.00%	100.00%
iSky, Inc. [Member]
Basis of Accounting and Presentation [Abstract]
Ownership interest acquired		100.00%	100.00%	100.00%
Bottom of Range [Member]
Functional and Presentation Currency [Abstract]
Percentage of revenue			97.00%
Restricted Share Awards [Member]
Critical Accounting Estimates and Judgements [Abstract]
Weighted-average expected life (in years) \| Y			4
Valuations of Common Shares [Abstract]
Number of shares granted (in shares) \| $	2,373,374			1,841,660
Fair value of common shares (in dollars per share) \| $ / shares	$ 0.61
United States of America [Member] \| Bottom of Range [Member]
Functional and Presentation Currency [Abstract]
Percentage of revenue			97.00%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Property and Equipment (Details)	12 Months Ended
	Jun. 30, 2021
Property and Equipment [Abstract]
Useful economic life	3 years
Depreciation method	Straight line
Leasehold Improvements [Member]
Property and Equipment [Abstract]
Depreciation method	Straight line
Leasehold Improvements [Member] \| Bottom of Range [Member]
Property and Equipment [Abstract]
Useful economic life	3 years
Leasehold Improvements [Member] \| Top of Range [Member]
Property and Equipment [Abstract]
Useful economic life	5 years
Furniture, Fixtures and Office Equipment [Member]
Property and Equipment [Abstract]
Depreciation method	Straight line
Furniture, Fixtures and Office Equipment [Member] \| Bottom of Range [Member]
Property and Equipment [Abstract]
Useful economic life	3 years
Furniture, Fixtures and Office Equipment [Member] \| Top of Range [Member]
Property and Equipment [Abstract]
Useful economic life	5 years
Vehicles [Member]
Property and Equipment [Abstract]
Useful economic life	5 years
Depreciation method	Straight line
Right of Use Assets [Member]
Property and Equipment [Abstract]
Useful economic life	expected term of lease
Depreciation method	Straight line

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Intangible Assets (Details)	12 Months Ended
	Jun. 30, 2021
Customer Lists [Member]
Intangible Assets [Abstract]
Valuation method	Straight line
Customer Lists [Member] \| Bottom of Range [Member]
Intangible Assets [Abstract]
Useful economic life	5 years
Customer Lists [Member] \| Top of Range [Member]
Intangible Assets [Abstract]
Valuation method	6 years
Software [Member]
Intangible Assets [Abstract]
Valuation method	Straight line
Software [Member] \| Bottom of Range [Member]
Intangible Assets [Abstract]
Useful economic life	3 years
Software [Member] \| Top of Range [Member]
Intangible Assets [Abstract]
Useful economic life	5 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Retirement Benefits (Details) - Qualified Defined Benefit Plan [Member] - U S Based Subsidiaries [Member]	12 Months Ended
	Jun. 30, 2021
Retirement Benefits [Abstract]
Percentage of matching contributions	25.00%
Percentage of employee contribution	6.00%
Percentage of vesting employee contribution per year	25.00%
Vesting period	4 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Warrant Shares (Details)	12 Months Ended
	Jun. 30, 2021
Warrants Shares [Abstract]
Amazon warrants, vest period	7 years 6 months

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Foreign Currency (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Foreign Currency [Abstract]
Net exchange losses	$ 0.2	$ 0.4	$ 1.3

GOODWILL (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Reconciliation of changes in goodwill [abstract]
Goodwill as of beginning of the year	$ 11,832	$ 11,832
Goodwill as of end of the year	$ 11,832	$ 11,832

GOODWILL - Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Goodwill carrying amount [Abstract]
Carrying amount of goodwill	$ 11,832	$ 11,832	$ 11,832
Recoverable amount of cash generating unit in excess of its carrying amount	257,400
IBEX [Member]
Goodwill carrying amount [Abstract]
Carrying amount of goodwill	$ 11,832	11,626
DGS [Member]
Goodwill carrying amount [Abstract]
Carrying amount of goodwill		$ 206

GOODWILL - Testing for impairment of goodwill (Details)	12 Months Ended
GOODWILL - Testing for impairment of goodwill (Details)	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Key assumptions applied in impairment testing [Abstract]
Projection period used in revenue growth assumption	3 years
Average revenue growth rate	9.20%	7.90%	5.60%
Average Gross Margin	29.00%	26.20%	25.50%
Discount Rate	13.20%	13.20%	10.60%
Terminal Growth Rate	5.00%	5.00%	5.00%

OTHER INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	12 Months Ended
OTHER INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	$ 2,781	$ 2,928
Impairment charge for the year	0	777	$ 163
Amortization charge for the year	1,055	1,372	1,727
Other Intangible Assets, ending	3,209	2,781	2,928
Discontinued Operations [Member]
Other Intangible Assets [Abstract]
Amortization charge for the year	0	0	5
Continuing Operations [Member]
Other Intangible Assets [Abstract]
Amortization charge for the year	1,055	1,372	1,722
Cost [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	24,195	22,193
Additions	1,463	2,021
Foreign exchange movements	20	(19)
Other Intangible Assets, ending	25,678	24,195	22,193
Accumulated Amortization [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	(21,414)
Impairment charge for the year	0
Amortization charge for the year	(1,055)
Other Intangible Assets, ending	(22,469)	(21,414)
Accumulated Amortization and Impairment [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	(21,414)	(19,265)
Impairment charge for the year		(777)
Amortization charge for the year		(1,372)
Other Intangible Assets, ending		(21,414)	(19,265)
Patents [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	345	345
Other Intangible Assets, ending	345	345	345
Patents [Member] \| Cost [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	541	541
Additions	0	0
Foreign exchange movements	0	0
Other Intangible Assets, ending	541	541	541
Patents [Member] \| Accumulated Amortization [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	(196)
Impairment charge for the year	0
Amortization charge for the year	0
Other Intangible Assets, ending	(196)	(196)
Patents [Member] \| Accumulated Amortization and Impairment [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	(196)	(196)
Impairment charge for the year		0
Amortization charge for the year		0
Other Intangible Assets, ending		(196)	(196)
Trademarks [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	371	371
Other Intangible Assets, ending	371	371	371
Trademarks [Member] \| Cost [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	371	371
Additions	0	0
Foreign exchange movements	0	0
Other Intangible Assets, ending	371	371	371
Trademarks [Member] \| Accumulated Amortization [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	0
Impairment charge for the year	0
Amortization charge for the year	0
Other Intangible Assets, ending	0	0
Trademarks [Member] \| Accumulated Amortization and Impairment [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	0	0
Impairment charge for the year		0
Amortization charge for the year		0
Other Intangible Assets, ending		0	0
Customer Lists [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	251	340
Other Intangible Assets, ending	$ 180	251	340
Customer Lists [Member] \| Bottom of Range [Member]
Other Intangible Assets [Abstract]
Estimated remaining useful life	5 years
Customer Lists [Member] \| Cost [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	$ 2,817	2,817
Additions	0	0
Foreign exchange movements	0	0
Other Intangible Assets, ending	2,817	2,817	2,817
Customer Lists [Member] \| Accumulated Amortization [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	(2,566)
Impairment charge for the year	0
Amortization charge for the year	(71)
Other Intangible Assets, ending	(2,637)	(2,566)
Customer Lists [Member] \| Accumulated Amortization and Impairment [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	(2,566)	(2,477)
Impairment charge for the year		0
Amortization charge for the year		(89)
Other Intangible Assets, ending		(2,566)	(2,477)
Software [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	1,814	1,872
Other Intangible Assets, ending	$ 2,313	1,814	1,872
Software [Member] \| Bottom of Range [Member]
Other Intangible Assets [Abstract]
Estimated remaining useful life	3 years
Software [Member] \| Top of Range [Member]
Other Intangible Assets [Abstract]
Estimated remaining useful life	5 years
Software [Member] \| Cost [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	$ 20,466	18,464
Additions	1,463	2,021
Foreign exchange movements	20	(19)
Other Intangible Assets, ending	21,949	20,466	18,464
Software [Member] \| Accumulated Amortization [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	(18,652)
Impairment charge for the year	0
Amortization charge for the year	(984)
Other Intangible Assets, ending	(19,636)	(18,652)
Software [Member] \| Accumulated Amortization and Impairment [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	(18,652)	(16,592)
Impairment charge for the year		(777)
Amortization charge for the year		(1,283)
Other Intangible Assets, ending		(18,652)	$ (16,592)
Software Licenses [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	900
Other Intangible Assets, ending	$ 500	$ 900

OTHER INTANGIBLE ASSETS - Estimated Amortization Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Estimated amortisation expense [Abstract]
2022	$ 1,200	$ 700	$ 800
2023	800	400	200
2024	500
Impairment charges	$ 0	$ 777	$ 163

PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands	12 Months Ended
PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Property, Plant and Equipment [Abstract]
Property, plant and equipment, beginning of period	$ 84,588	$ 82,309
Charge for the year	27,142	23,100	$ 20,078
Property, plant and equipment, end of period	106,703	84,588	82,309
Impairment of property, plant and equipment	0	0	0
Cost [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment, beginning of period	182,572	157,694
Additions	51,150	27,539
Foreign exchange movements	1,681	629
Disposal	(3,690)	(3,290)
Property, plant and equipment, end of period	231,713	182,572	157,694
Accumulated Amortization [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment, beginning of period	(97,984)	(75,385)
Disposal	116	501
Charge for the year	27,142	23,100
Property, plant and equipment, end of period	(125,010)	(97,984)	(75,385)
Facility Leases [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment, beginning of period	61,528	63,655
Property, plant and equipment, end of period	74,948	61,528	63,655
Facility Leases [Member] \| Cost [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment, beginning of period	83,665	74,077
Additions	29,388	12,288
Foreign exchange movements	1,227	358
Disposal	(3,207)	(3,058)
Property, plant and equipment, end of period	111,073	83,665	74,077
Facility Leases [Member] \| Accumulated Amortization [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment, beginning of period	(22,137)	(10,422)
Disposal		434
Charge for the year	13,988	12,149
Property, plant and equipment, end of period	(36,125)	(22,137)	(10,422)
Leasehold Improvements [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment, beginning of period	5,035	4,644
Property, plant and equipment, end of period	7,666	5,035	4,644
Leasehold Improvements [Member] \| Cost [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment, beginning of period	20,127	17,318
Additions	5,351	1,638
Transfer from CWIP	248	1,128
Foreign exchange movements	65	43
Property, plant and equipment, end of period	25,791	20,127	17,318
Leasehold Improvements [Member] \| Accumulated Amortization [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment, beginning of period	(15,092)	(12,674)
Charge for the year	3,033	2,418
Property, plant and equipment, end of period	(18,125)	(15,092)	(12,674)
Furniture, Fixtures and Equipment [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment, beginning of period	8,996	5,446
Property, plant and equipment, end of period	10,854	8,996	5,446
Furniture, Fixtures and Equipment [Member] \| Cost [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment, beginning of period	26,410	19,775
Additions	4,625	5,704
Transfer from CWIP	440	710
Foreign exchange movements	171	221
Disposal	(10)
Property, plant and equipment, end of period	31,636	26,410	19,775
Furniture, Fixtures and Equipment [Member] \| Accumulated Amortization [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment, beginning of period	(17,414)	(14,329)
Disposal	10
Charge for the year	3,378	3,085
Property, plant and equipment, end of period	(20,782)	(17,414)	(14,329)
Computer Equipment [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment, beginning of period	7,892	5,533
Property, plant and equipment, end of period	11,681	7,892	5,533
Computer Equipment [Member] \| Cost [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment, beginning of period	50,603	42,984
Additions	10,396	6,775
Transfer from CWIP	53	943
Foreign exchange movements	210	71
Disposal	(423)	(170)
Property, plant and equipment, end of period	60,839	50,603	42,984
Computer Equipment [Member] \| Accumulated Amortization [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment, beginning of period	(42,711)	(37,451)
Disposal	74	19
Charge for the year	6,521	5,279
Property, plant and equipment, end of period	(49,158)	(42,711)	(37,451)
Vehicles [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment, beginning of period	396	250
Property, plant and equipment, end of period	462	396	250
Vehicles [Member] \| Cost [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment, beginning of period	1,026	759
Additions	298	393
Foreign exchange movements	8	(64)
Disposal	(50)	(62)
Property, plant and equipment, end of period	1,282	1,026	759
Vehicles [Member] \| Accumulated Amortization [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment, beginning of period	(630)	(509)
Disposal	32	48
Charge for the year	222	169
Property, plant and equipment, end of period	(820)	(630)	(509)
Assets Under Construction [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment, beginning of period	741	2,781
Property, plant and equipment, end of period	1,092	741	2,781
Assets Under Construction [Member] \| Cost [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment, beginning of period	741	2,781
Additions	1,092	741
Transfer from CWIP	(741)	(2,781)
Property, plant and equipment, end of period	$ 1,092	$ 741	$ 2,781

PROPERTY AND EQUIPMENT - Depreciation Charge (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Depreciation Charge [Abstract]
Charge for the year	$ 27,142	$ 23,100	$ 20,078
Discontinued Operations [Member]
Depreciation Charge [Abstract]
Charge for the year			905
Continuing Operations [Member]
Depreciation Charge [Abstract]
Charge for the year	$ 27,142	$ 23,100	$ 19,173

PROPERTY AND EQUIPMENT - Right of Use Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Right-of-use assets [Abstract]
Right-of-use assets, Beginning balance	$ 71,243	$ 67,681
Additions	30,250	21,806
Disposal - net of depreciation	(3,564)	(2,780)
Transferred to owned	(7,186)
Foreign exchange movements	1,752	497
Depreciation charge for the year	(16,620)	(15,961)
Right-of-use assets, Ending balance	75,875	71,243
Buildings [Member]
Right-of-use assets [Abstract]
Right-of-use assets, Beginning balance	61,276	63,357
Additions	29,388	12,288
Disposal - net of depreciation	(3,207)	(2,624)
Foreign exchange movements	1,220	323
Depreciation charge for the year	(13,929)	(12,068)
Right-of-use assets, Ending balance	74,748	61,276
Leasehold Improvements [Member]
Right-of-use assets [Abstract]
Right-of-use assets, Beginning balance	1,507	321
Transfer from CWIP		388
Additions	576	1,474
Transferred to owned	(1,123)
Foreign exchange movements	79	34
Depreciation charge for the year	(600)	(710)
Right-of-use assets, Ending balance	439	1,507
Furniture, Fixtures and Equipment [Member]
Right-of-use assets [Abstract]
Right-of-use assets, Beginning balance	5,085	1,320
Transfer from CWIP		703
Additions	177	4,900
Transferred to owned	(4,434)
Foreign exchange movements	254	121
Depreciation charge for the year	(1,082)	(1,959)
Right-of-use assets, Ending balance		5,085
Computer Equipment [Member]
Right-of-use assets [Abstract]
Right-of-use assets, Beginning balance	2,961	913
Transfer from CWIP		397
Additions	109	2,835
Disposal - net of depreciation	(349)	(151)
Transferred to owned	(1,629)
Foreign exchange movements	180	28
Depreciation charge for the year	(840)	(1,061)
Right-of-use assets, Ending balance	432	2,961
Vehicles [Member]
Right-of-use assets [Abstract]
Right-of-use assets, Beginning balance	414	282
Additions		309
Disposal - net of depreciation	(8)	(5)
Foreign exchange movements	19	(9)
Depreciation charge for the year	(169)	(163)
Right-of-use assets, Ending balance	$ 256	414
Assets Under Construction [Member]
Right-of-use assets [Abstract]
Right-of-use assets, Beginning balance		1,488
Transfer from CWIP		$ (1,488)

PROPERTY AND EQUIPMENT - Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Lease liabilities [Abstract]
Total lease liabilities	$ 83,999	$ 74,712
Current	12,121	12,668
Non Current	$ 71,878	$ 62,044

PROPERTY AND EQUIPMENT - Description of Lease Activities, Other Lease Disclosures and Security Interest on Property and Equipment (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2021 USD ($) lease	Jun. 30, 2020 USD ($) lease	Jun. 30, 2019 USD ($)
Other lease disclosures [Abstract]
Interest expense on lease liabilities	$ 7,300	$ 6,500
Expense incurred relating to short-term leases	200	1,000
Expense relating to other variable lease payments	0
Cash outflow for leases	17,500	12,200
Lease payments	17,489	12,162	$ 10,535
Amount of impact of IFRS 16 on lease payments	$ 10,800	$ 9,100
Number of leases related to right of use assets \| lease	91	94
Number of new leases \| lease	13	25
Number of disposal leases \| lease	16	18
Security Interest on property and equipment [Abstract]
Assets pledged as security	$ 11,800	$ 7,000
Bottom of Range [Member]
Description of lease activities [Abstract]
Leases term	3 years
Operating leases term	2 years
Top of Range [Member]
Description of lease activities [Abstract]
Leases term	7 years
Operating leases term	14 years

INVESTMENT IN JOINT VENTURE (Details) - USD ($) $ in Thousands		12 Months Ended
	Jan. 01, 2016	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Investments in joint ventures [Abstract]
Market value of the investment		$ 300	$ 300	$ 200
Opening balance		331	227	392
Return on investment during the year				(96)
Dividend received during the year		(650)	(430)	(420)
Share of profit for the year		577	534	351
Ending balance		258	331	227
Other Operating Costs [Member]
Investments in joint ventures [Abstract]
Share of profit for the year		$ 600	$ 500	$ 400
Lake Ball LLC [Member]
Investments in joint ventures [Abstract]
Ownership interest	47.50%	47.50%	47.50%

INVESTMENT IN JOINT VENTURE - Summary of Financial Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Investments in joint ventures [Abstract]
Revenue	$ 443,662	$ 405,135	$ 368,380
Profit after tax	2,847	7,770	10,965
Other comprehensive income	54	(950)	(207)
Total comprehensive income for the year	2,901	6,820	10,758
Lake Ball LLC [Member]
Investments in joint ventures [Abstract]
Revenue	4,342	3,152	2,140
Profit after tax	1,215	1,124	739
Total comprehensive income for the year	$ 1,215	$ 1,124	$ 739

- Definition

The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.

+ References + Details

- Definition

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 7
-IssueDate 2020-01-01
-Paragraph 18
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=7&code=ifrs-tx-2020-en-r&anchor=para_18_b&doctype=Standard
-URIDate 2020-01-01

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
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-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2020-en-r&anchor=para_24_b&doctype=Standard
-URIDate 2020-01-01

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
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-Subparagraph a
-Clause ii
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2020-en-r&anchor=para_32_a_ii&doctype=Standard
-URIDate 2020-01-01

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2020-01-01
-Paragraph 28
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2020-en-r&anchor=para_28_b&doctype=Standard
-URIDate 2020-01-01

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Note Effective on first application of IFRS 9
-Name IFRS
-Number 4
-IssueDate 2020-01-01
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-Subparagraph e
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-URIDate 2020-01-01

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
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-URIDate 2020-01-01

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
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-URIDate 2020-01-01

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2020-01-01
-Paragraph 106
-Subparagraph d
-Clause i
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2020-en-r&anchor=para_106_d_i&doctype=Standard
-URIDate 2020-01-01

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Note Effective 2021-01-01
-Name IFRS
-Number 17
-IssueDate 2020-01-01
-Paragraph 113
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=17&code=ifrs-tx-2020-en-r&anchor=para_113_b&doctype=Standard
-URIDate 2020-01-01

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
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-Paragraph 81A
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2020-en-r&anchor=para_81A_a&doctype=Standard
-URIDate 2020-01-01

+ Details

- Definition

The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2020-01-01
-Paragraph 28
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2020-en-r&anchor=para_28_a&doctype=Standard
-URIDate 2020-01-01

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
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-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2020-en-r&anchor=para_23_a&doctype=Standard
-URIDate 2020-01-01

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
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-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2020-en-r&anchor=para_32&doctype=Standard
-URIDate 2020-01-01

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
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-URIDate 2020-01-01

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
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-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2020-en-r&anchor=para_34&doctype=Standard
-URIDate 2020-01-01

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
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-URIDate 2020-01-01

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
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-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2020-en-r&anchor=para_103&doctype=Standard
-URIDate 2020-01-01

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
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-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2020-en-r&anchor=para_102&doctype=Standard
-URIDate 2020-01-01

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 5
-IssueDate 2020-01-01
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-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=5&code=ifrs-tx-2020-en-r&anchor=para_33_b_i&doctype=Standard
-URIDate 2020-01-01

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 12
-IssueDate 2020-01-01
-Paragraph B12
-Subparagraph b
-Clause v
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2020-en-r&anchor=para_B12_b_v&doctype=Appendix&subtype=B
-URIDate 2020-01-01

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2020-01-01
-Paragraph B10
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2020-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B
-URIDate 2020-01-01

+ Details

OTHER ASSETS (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
OTHER ASSETS [Abstract]
Deposits	$ 3,715	$ 3,087
Prepayments	633	918
Other	891	829
Other Assets	$ 5,239	$ 4,834

TRADE AND OTHER RECEIVABLES (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Trade receivables [Abstract]
Trade receivables - gross	$ 69,715	$ 55,862	$ 65,886
Less: Allowance for credit losses	(2,301)	(1,877)	$ (2,209)
Trade receivables - net	67,414	53,985
Less: receivables attributable to related parties, net	(725)	(549)
Trade receivables - net closing balance	66,689	53,436
Other receivables [Abstract]
Prepayments	5,281	4,397
Advance tax	4,233	1,832
VAT/Sales Tax receivables	2,947	1,651
Other receivables	1,223	923
Deposits	731	340
Other receivables	14,415	9,143
Trade and other receivables	$ 81,104	$ 62,579

TRADE AND OTHER RECEIVABLES - Allowance for Credit Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Allowance for credit losses [Abstract]
Opening balance	$ 1,877	$ 2,209
Foreign exchange movements	133	(228)
Loss allowance recognized during the year	291	224	$ 343
Trade receivables written off against allowance		(328)
Closing balance	$ 2,301	$ 1,877	$ 2,209

CASH AND CASH EQUIVALENTS (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Balances with banks in [Abstract]
current accounts	$ 55,258	$ 19,451
deposit accounts (with a maturity of 3 months or less at inception)	2,559	2,396
Balances with banks	57,817	21,847
Cash in hand	25	23
Cash and cash equivalents	$ 57,842	$ 21,870	$ 8,873	$ 13,519

DEFERRED REVENUE (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
DEFERRED REVENUE [Abstract]
Deferred revenue	$ 7,087	$ 3,904	$ 5,141
Less: current portion of deferred revenue	(4,077)	(3,470)
Noncurrent portion of deferred revenue	$ 3,010	$ 434

SHARE CAPITAL AND OTHER RESERVES (Details) - USD ($) $ / shares in Units, $ in Thousands			12 Months Ended
	Aug. 07, 2020	Jun. 26, 2019	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Changes in equity [Abstract]
Share capital			$ 2	$ 12
Number of shares authorized (in shares)			108,057,967
Par value per share (in dollars per share)			$ 0.0001
Number of shares issued (in shares)			18,399,063
Number of shares outstanding (in shares)			18,399,063
Series A will convert to Series C, number of shares (in shares)			1
Series B will convert to Series C, number of shares (in shares)			1
Series C will convert to Class A, number of shares (in shares)			1.158
Class B will convert to Class A, number of shares (in shares)			1
Class B and Class A shares combined into common shares			1
Additional paid-in capital			$ 158,157	96,207
Payment of offering-related expenses			1,074
Redemption of senior preferred shares					$ 5,972
Sale of subsidiary					(27,594)
Accumulated deficit			(110,680)	(109,527)
Profit for the year			2,847	7,770	$ 10,965
Dividends recognised as distributions to owners			4,000	121
IPO [Member]
Changes in equity [Abstract]
Par value per share (in dollars per share)	$ 19
Number of shares issued (in shares)	4,761,905
Offering proceeds before expenses			63,100
Proceeds after deducting underwriting discounts and commissions			1,600
Payment of offering-related expenses	$ 1,200		$ 1,000	$ 200
IPO [Member] \| TRGI [Member]
Changes in equity [Abstract]
Number of shares issued (in shares)	1,190,476
Issued, Subscribed and Paid in Capital, Senior Preferred Shares [Member]
Changes in equity [Abstract]
Number of shares redeemed (in shares)					459,325
Share price (in dollars per share)					$ 13.9
Redemption of senior preferred shares					$ 5,900
Reduction of interest of issued capital					400
Sale of subsidiary					$ 14,000
Common Shares [Member]
Changes in equity [Abstract]
Number of shares converted	1,674,017		14,119,384
Series A Convertible Preference Shares [Member]
Changes in equity [Abstract]
Number of shares authorized (in shares)				1
Proceeds from sale of assets, in event of voluntary or involuntary liquidation, dissolution or winding-up of Holding Company				$ 9,500
Series A Convertible Preference Shares [Member] \| IPO [Member]
Changes in equity [Abstract]
Additional number of shares in offering (in shares)	3,571,429
Series A Convertible Preference Shares [Member] \| Bottom of Range [Member]
Changes in equity [Abstract]
First priority dividends to be declared or paid in event of distribution from Series A				$ 9,500
Series B Convertible Preference Shares [Member]
Changes in equity [Abstract]
Number of shares authorized (in shares)				12,512,994
Number of shares issued (in shares)				11,083,691
Number of shares outstanding (in shares)				11,083,691
Proceeds from sale of assets, in event of voluntary or involuntary liquidation, dissolution or winding-up of Holding Company				$ 53,500
Series C Convertible Preference Shares [Member]
Changes in equity [Abstract]
Number of shares authorized (in shares)				12,639,389
Par value per share (in dollars per share)		$ 0.0001
Number of shares issued (in shares)				111,986
Number of shares outstanding (in shares)				111,986
Proceeds from sale of assets, in event of voluntary or involuntary liquidation, dissolution or winding-up of Holding Company		$ 86,200		$ 86,200
Waived amount due to transfer of shares to parent company		$ 47,900		$ 47,900
Class A Common Shares [Member]
Changes in equity [Abstract]
Number of shares authorized (in shares)				79,766,504
Number of shares issued (in shares)				0
Number of shares outstanding (in shares)				0
Class B ordinary shares [Member]
Changes in equity [Abstract]
Number of shares authorized (in shares)				3,139,114
Number of shares issued (in shares)				1,841,660
Series B and C Convertible Stock [Member]
Changes in equity [Abstract]
Proceeds from sale of assets, in event of voluntary or involuntary liquidation, dissolution or winding-up of Holding Company				$ 139,700
Proceeds from sale of stock, in event of liquidation				$ 139,700

BORROWINGS (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
BORROWINGS [Abstract]
Long-term other borrowings	$ 6,205	$ 9,783
Line of credit	22,312	21,475
Total borrowings	28,517	31,258
Less: Current portion of:
long-term other borrowings	(4,404)	(6,001)
line of credit	(22,312)	(21,475)
Less: Current portion of borrowings	(26,716)	(27,476)
Non-current portion of borrowings	$ 1,801	$ 3,782

BORROWINGS - Long-term Other Borrowings (Details) $ in Thousands, ₨ in Millions			1 Months Ended		12 Months Ended
	Nov. 30, 2018 USD ($) installment	Jan. 31, 2018 USD ($) installment	May 31, 2020 USD ($)	Mar. 31, 2020 USD ($) installment	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($)	May 31, 2020 PKR (₨)	Oct. 31, 2019 USD ($) installment
Long-term other borrowings [Abstract]
Long-term other borrowings					$ 6,205	$ 9,783
Less: Current portion of long-term other borrowings					(4,404)	(6,001)
Non-current portion of long term other borrowings					1,801	3,782
Financed amount					2,700	4,500
IBM Credit LLC [Member]
Long-term other borrowings [Abstract]
Long-term other borrowings					180	974
Hewlett-Packard Financial Services Co. [Member]
Long-term other borrowings [Abstract]
Long-term other borrowings					511	923
IPFS Corporation [Member]
Long-term other borrowings [Abstract]
Long-term other borrowings					$ 1,008	759
Interest rate					4.60%
Heritage Bank of Commerce [Member]
Long-term other borrowings [Abstract]
Long-term other borrowings						1,833
PNC Term Loan [Member]
Long-term other borrowings [Abstract]
Long-term other borrowings						2,359
First Global Bank Limited Demand loan [Member]
Long-term other borrowings [Abstract]
Long-term other borrowings					$ 3,149	2,935
JS Bank Limited [Member]
Long-term other borrowings [Abstract]
Long-term other borrowings					$ 1,357
Bottom of Range [Member]
Long-term other borrowings [Abstract]
Interest rate					6.00%
Top of Range [Member]
Long-term other borrowings [Abstract]
Interest rate					9.76%
LIBOR [Member] \| Bottom of Range [Member] \| PNC Term Loan [Member]
Long-term other borrowings [Abstract]
Interest rate					(0.50%)
LIBOR [Member] \| Top of Range [Member] \| PNC Term Loan [Member]
Long-term other borrowings [Abstract]
Interest rate					1.75%
IBEX Global Jamaica Limited [Member]
Long-term other borrowings [Abstract]
Non-revolving demand loan				$ 600
Number of equal monthly installments for repayment of debt \| installment				36
Credit facility term				30 months
IBEX Global Jamaica Limited [Member] \| First Global Bank Limited Demand loan [Member]
Long-term other borrowings [Abstract]
Non-revolving demand loan	$ 1,200	$ 1,400		$ 2,000				$ 800
Maturity date	January 31, 2023	January 31, 2023
Number of equal monthly installments for repayment of debt \| installment	60	54		36				36
Credit facility term	36 months			30 months
Additional credit facility term	24 months
IBEX Global Jamaica Limited [Member] \| January 2018 [Member]
Long-term other borrowings [Abstract]
Financed amount					$ 500	800
IBEX Global Jamaica Limited [Member] \| November 2018 [Member]
Long-term other borrowings [Abstract]
Financed amount					700	900
IBEX Global Jamaica Limited [Member] \| October 2019 [Member]
Long-term other borrowings [Abstract]
Financed amount					400	600
IBEX Global Jamaica Limited [Member] \| March 2020 [Member]
Long-term other borrowings [Abstract]
Financed amount					400	600
IBEX Global Jamaica Limited [Member] \| March 2020 [Member] \| First Global Bank Limited Demand loan [Member]
Long-term other borrowings [Abstract]
Financed amount					$ 1,200	0
IBEX Global Jamaica Limited [Member] \| Fixed Interest Rate [Member]
Long-term other borrowings [Abstract]
Interest rate				7.00%
IBEX Global Jamaica Limited [Member] \| Fixed Interest Rate [Member] \| First Global Bank Limited Demand loan [Member]
Long-term other borrowings [Abstract]
Interest rate		7.00%		7.00%				7.00%
IBEX Global Jamaica Limited [Member] \| LIBOR [Member] \| First Global Bank Limited Demand loan [Member]
Long-term other borrowings [Abstract]
Interest rate	5.26%
Maturity date					P6M
Interest rate floor	7.00%
Ibex Global Solutions, Inc. [Member] \| JS Bank Limited [Member]
Long-term other borrowings [Abstract]
Financed amount					$ 800	0
Interest rate			3.00%				3.00%
Non-revolving demand loan			$ 1,000				₨ 165
Credit facility term			2 years
Virtual World (Private) Limited [Member] \| JS Bank Limited [Member]
Long-term other borrowings [Abstract]
Financed amount					$ 600	$ 0
Interest rate			3.00%				3.00%
Non-revolving demand loan			$ 800				₨ 120
Credit facility term			2 years

BORROWINGS - Line of Credit (Details) $ in Thousands	1 Months Ended			12 Months Ended
BORROWINGS - Line of Credit (Details) $ in Thousands	Nov. 30, 2016 USD ($) installment	Mar. 31, 2015 USD ($)	Jul. 31, 2011 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($)	Jun. 30, 2019 USD ($)	Mar. 31, 2021 USD ($)	May 31, 2019 USD ($)	Mar. 31, 2019 USD ($) installment	Dec. 31, 2018 USD ($)	Jun. 30, 2016 USD ($)	Mar. 31, 2016 USD ($)	Jun. 30, 2015 USD ($)	Nov. 30, 2013 USD ($)
Disclosure of detailed information about borrowings [abstract]
Line of credit				$ 22,312	$ 21,475
Amount drawn				1,714	1,000	$ 36,617
PNC Bank, N.A. [Member]
Disclosure of detailed information about borrowings [abstract]
Line of credit				22,312	19,830
Seacoast Business Funding [Member]
Disclosure of detailed information about borrowings [abstract]
Line of credit					220
Heritage Bank of Commerce [Member]
Disclosure of detailed information about borrowings [abstract]
Line of credit					1,425
Line of credit facility outstanding balance				$ 0	1,400
PNC Credit Facility [Member]
Disclosure of detailed information about borrowings [abstract]
Credit facility amount										$ 45,000			$ 40,000
Credit facility incremental availability													$ 10,000
Maturity date				May 31, 2020
Amended PNC Credit Facility [Member]
Disclosure of detailed information about borrowings [abstract]
Credit facility amount							$ 60,000	$ 50,000
Credit facility incremental availability								5,000
Maturity date				May 31, 2023
Credit facility additional borrowing								$ 10,000
HBC Loan Agreement [Member]
Disclosure of detailed information about borrowings [abstract]
Credit facility amount												$ 5,000
Maturity date				March 31, 2018
Term loan [Member] \| HBC Loan Agreement [Member]
Disclosure of detailed information about borrowings [abstract]
Line of credit				$ 0	1,800
Credit facility amount									$ 2,000
Number of equal monthly installments for repayment of debt \| installment									36
Term Loan A [Member] \| PNC Credit Facility [Member]
Disclosure of detailed information about borrowings [abstract]
Credit facility amount											$ 6,000
Term Loan B [Member] \| PNC Credit Facility [Member]
Disclosure of detailed information about borrowings [abstract]
Credit facility amount											$ 4,000
Term Loan C [Member] \| PNC Credit Facility [Member]
Disclosure of detailed information about borrowings [abstract]
Credit facility amount	$ 16,000
Amount drawn	$ 6,000
Number of equal monthly installments for repayment of debt \| installment	54
Line of credit facility outstanding balance				$ 0	$ 2,400
LIBOR [Member] \| Term Loan C [Member] \| PNC Credit Facility [Member]
Disclosure of detailed information about borrowings [abstract]
Interest rate	4.00%
Prime Rate [Member] \| HBC Loan Agreement [Member]
Disclosure of detailed information about borrowings [abstract]
Interest rate				2.50%
Prime Rate [Member] \| Term loan [Member] \| HBC Loan Agreement [Member]
Disclosure of detailed information about borrowings [abstract]
Interest rate									2.50%
Top of Range [Member]
Disclosure of detailed information about borrowings [abstract]
Interest rate				9.76%
Top of Range [Member] \| LIBOR [Member] \| PNC Credit Facility [Member]
Disclosure of detailed information about borrowings [abstract]
Interest rate				1.75%
Bottom of Range [Member]
Disclosure of detailed information about borrowings [abstract]
Interest rate				6.00%
Bottom of Range [Member] \| LIBOR [Member] \| PNC Credit Facility [Member]
Disclosure of detailed information about borrowings [abstract]
Interest rate				(0.50%)
Ibex Global Solutions, Inc. [Member] \| PNC Credit Facility [Member]
Disclosure of detailed information about borrowings [abstract]
Credit facility term				3 years
Credit facility amount														$ 35,000
Ibex Global Solutions, Inc. [Member] \| Citibank Receivables Financing Agreement [Member]
Disclosure of detailed information about borrowings [abstract]
Interest rate													1.40%
Average discount of net sales				0.17%	0.33%
Discount acceptance period				360 days
iSky, Inc. [Member] \| Seacoast Receivables Financing Agreement [Member]
Disclosure of detailed information about borrowings [abstract]
Percentage of discount on payment to subsidiary			1.00%
Percentage of additional discount payment to subsidiary			0.50%
Additional period accounts receivables outstanding				15 days
Average discount of net sales				1.80%	1.20%
Monthly sales of receivable			$ 200
Automatic renewed agreement period				12 months
iSky, Inc. [Member] \| LIBOR [Member] \| Seacoast Receivables Financing Agreement [Member]
Disclosure of detailed information about borrowings [abstract]
Interest rate			7.00%
iSky, Inc. [Member] \| Top of Range [Member] \| Seacoast Receivables Financing Agreement [Member]
Disclosure of detailed information about borrowings [abstract]
Payment to subsidiary			$ 1,500
Accounts receivables outstanding period				30 days
Percentage of advance payment to subsidiary			85.00%
Group's Subsidiaries [Member] \| HBC Loan Agreement [Member]
Disclosure of detailed information about borrowings [abstract]
Credit facility term		1 year
Credit facility amount		$ 3,000

BORROWINGS - Changes in Liabilities Arising from Financing Activities (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019	May 31, 2018	Jul. 31, 2017	Jun. 30, 2017
Changes in liabilities arising from financing activities [Abstract]
Balance of debt, beginning	$ 105,970	$ 118,253	$ 62,958
Changes from operating cash flows	(827)	(3,379)	458
Changes from financing cash flows	(26,018)	(33,746)	10,124
Leases	31,790	24,295	89,771
Non cash item - disposal of subsidiary			(43,431)
Foreign exchange movement	1,601	547	(1,627)
Balance of debt, ending	$ 112,516	$ 105,970	$ 118,253
e-Telequote Insurance, Inc [Member]
Disclosure of detailed information about borrowings [abstract]
Issuance of debt				$ 15,000
Maturity date	May 15, 2019
2017 ETQ Notes [Member] \| e-Telequote Insurance, Inc [Member]
Disclosure of detailed information about borrowings [abstract]
Issuance of debt					$ 1,000	$ 9,100
Interest rate					12.00%	12.00%
Maturity date	June 12, 2018

OTHER NON-CURRENT LIABILITIES (Details) $ in Thousands	12 Months Ended
OTHER NON-CURRENT LIABILITIES (Details) $ in Thousands	Jun. 30, 2021 USD ($) subsidiary	Jun. 30, 2020 USD ($)	Jun. 30, 2019 USD ($)
OTHER NON-CURRENT LIABILITIES [Abstract]
Defined benefit scheme	$ 950	$ 677
Warrant liability	7,784	3,889
Phantom stock plan	514	411
Other	1,890	2,081
Other non-current liabilities	$ 11,138	$ 7,058
Defined benefit scheme [Abstract]
Number of group subsidiaries \| subsidiary	2
Period of salary that employees are entitled to upon each year of service period under benefit plan	15 days
Minimum period of service to be counted as one year under benefit plan	6 months
Period of salary based on latest salary rate defined as one half month's salary under benefit plan	15 days
Period of service incentive leave defined as one half month's salary under benefit plan	5 days
Percentage of 13 month's pay defined as one half month's salary under benefit plan	8.333%
Retirement age	60 years
Minimum service period required in previously credited service to be entitled benefit plan	5 years
Principal assumptions used for purposes of actuarial valuations [Abstract]
Discount rates	4.87%	3.98%
Expected rate of salary increase	3.00%	2.00%
Defined benefits recognized in profit or loss and other comprehensive income [Abstract]
Current service cost	$ 209	$ 100	$ 107
Interest on obligation	19	21	22
Total	228	121	129
Other non-current liabilities arising from defined benefit obligations [Abstract]
Present value of unfunded defined benefit obligation	950	677
Net liability arising from defined benefit obligation	950	677
Movement in present value of defined benefit obligation [Abstract]
Present value of defined benefit obligation at the beginning of the year	677	356
Foreign exchange movements	19	16
Current service cost	209	100	107
Interest cost	19	21	22
Actuarial gains	26	184	(109)
Present value of defined benefit obligation at the end of the year	950	677	$ 356
Deferred social security payment	$ 1,100	$ 1,800

TRADE AND OTHER PAYABLES (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
TRADE AND OTHER PAYABLES [Abstract]
Trade creditors	$ 5,976	$ 10,354
Accrued expenses	11,784	12,060
Accrued compensation	29,678	30,009
Cash flow hedge	316	518
Warrant liability	5,837
Others	1,272	272
Trade and other payables	$ 54,863	$ 53,213

CONTINGENCIES AND COMMITMENTS (Details) $ in Thousands				1 Months Ended		3 Months Ended	12 Months Ended
CONTINGENCIES AND COMMITMENTS (Details) $ in Thousands	Jun. 03, 2020 USD ($)	Nov. 20, 2019 USD ($)	Feb. 28, 2015 individual item case	Aug. 31, 2021 USD ($)	Sep. 30, 2020 USD ($) item	Jun. 30, 2021 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($)	Jun. 30, 2019 USD ($)	Mar. 01, 2018 USD ($)	Nov. 27, 2017 USD ($)
Contingencies [Abstract]
Number of cases consolidated \| case			2
Number of individuals who have opted into FLSA class action claims \| individual			3,500
Number of potential class action claimants with pending wage and hour \| item			21,000
Amount funded towards settlement							$ 3,400
Percentage covered of possible claims under the FLSA, plaintiffs' attorney fees, administration costs and service awards							100.00%
Amount allocated to settlement of claims pursuant to settlement agreement							$ 2,200
Claims amount properly and timely returned							1,200
Payment made to qualified settlement fund in full		$ 1,200
Legal fees and expenses							$ 10,618	$ 6,652	$ 9,241
Total settlement						$ 900
Commitments [Abstract]
Number of telecommunication service commitment of carriers \| item					2
Term of telecommunication service commitment				3 years	3 years
Annual commitment				$ 30	$ 450
Letter of credit renewal period							1 year
Kandela LLC's [Member]
Contingencies [Abstract]
Legal fees and expenses	$ 30
PNC Bank [Member] \| Ibex Global Solutions, Inc. [Member]
Commitments [Abstract]
Irrevocable standby letter of credit issued										$ 500	$ 400

FINANCE EXPENSES (Details) - USD ($) $ in Thousands	12 Months Ended
FINANCE EXPENSES (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
FINANCE EXPENSES [Abstract]
Interest on borrowings	$ 1,756	$ 2,453	$ 2,858
Factoring Fees	73	186	242
Finance charges - right of use assets	7,078	6,457	4,394
Bank charges	127	332	215
Total	9,034	9,428	7,709
Finance expenses from discontinued operations	$ 0	$ 0	$ 5,674

INCOME TAXES (Details) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Tax effect of deductible / (taxable) temporary differences [Abstract]
Deductible temporary differences	$ 10,354	$ 7,850
Taxable temporary differences	(6,188)	(5,744)
Net deferred tax assets	4,166	2,106	$ 2,370
Deferred tax asset	4,252	2,223
Deferred tax liability	(86)	(117)
Deferred tax asset liability	4,166	2,106
Current tax [Abstract]
Current year	3,876	1,850	836
Change in estimates related to prior year	80	201	(21)
Total current tax	3,956	2,051	815
Deferred tax [abstract]
Origination and reversal of temporary differences	(2,062)	1,923	8,427
Changes in tax rates	24	270	(124)
Recognition of previously unrecognised tax losses		(1,907)	(702)
Recognition of previously unrecognised net deductible temporary differences		(22)	(29)
Total deferred tax expense (benefit)	(2,038)	264	7,630
Total	1,918	2,315	8,445
Income tax expense [Abstract]
Income tax expense from continuing operations	1,918	2,315	3,615
Income tax expense from discontinued operations	0	0	4,830
Total	1,918	2,315	8,445
Deferred tax expense from non-recurring benefit related to change in revenue and related costs recognition under IFRS15 - Revenue from contracts with customers		600
Cancellation of legacy ESOP plan		0	3,104
Movement in deferred tax assets / (liability) [Abstract]
Opening deferred tax assets	2,106	2,370
Deferred tax benefits / (expense)	2,038	(264)	(7,630)
Foreign exchange and other rate differences	22	0
Net deferred tax assets	4,166	2,106	$ 2,370
Provisions and Write-offs Against Accounts Receivable [Member]
Tax effect of deductible / (taxable) temporary differences [Abstract]
Deductible temporary differences	30	85
Unpaid Accrued Expenses / Compensation [Member]
Tax effect of deductible / (taxable) temporary differences [Abstract]
Deductible temporary differences	3,413	687
Net Operating Losses [Member]
Tax effect of deductible / (taxable) temporary differences [Abstract]
Deductible temporary differences	834	1,629
Property and Equipment [Member]
Tax effect of deductible / (taxable) temporary differences [Abstract]
Deductible temporary differences	385	348
Taxable temporary differences	(133)	(105)
Right of Use Assets [Member]
Tax effect of deductible / (taxable) temporary differences [Abstract]
Deductible temporary differences	5,692	5,101
Taxable temporary differences	(5,097)	(4,661)
Intangible Assets [Member]
Tax effect of deductible / (taxable) temporary differences [Abstract]
Taxable temporary differences	$ (958)	$ (978)

INCOME TAXES - Deferred Tax Asset (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Deferred tax asset not been recognized [Abstract]
Unused tax losses	$ 26,575	$ 25,320
Deductible temporary differences	81	253
Unused tax losses and deductible differences - unrecognized	26,656	25,573
Operating loss carry forward [Abstract]
Net operating loss carryforward	$ 26,575	$ 25,320
Income tax expense using the applicable tax rate	21.00%	21.00%	21.00%
US Federal [Member]
Deferred tax asset not been recognized [Abstract]
Unused tax losses	$ 15,900	$ 20,600
Operating loss carry forward [Abstract]
Net operating loss carryforward	$ 15,900	20,600
Expiry date	2027
State [Member]
Deferred tax asset not been recognized [Abstract]
Unused tax losses	$ 36,700	26,600
Operating loss carry forward [Abstract]
Net operating loss carryforward	$ 36,700	26,600
Expiry date	2030
Canadian Subsidiary [Member]
Deferred tax asset not been recognized [Abstract]
Unused tax losses	$ 2,300	2,200
Operating loss carry forward [Abstract]
Net operating loss carryforward	$ 2,300	2,200
Expiry date	2028 through 2038
UK and European Subsidiaries [Member]
Deferred tax asset not been recognized [Abstract]
Unused tax losses	$ 4,300	3,900
Operating loss carry forward [Abstract]
Net operating loss carryforward	4,300	3,900
Luxembourg Subsidiary [Member]
Deferred tax asset not been recognized [Abstract]
Unused tax losses	1,200	1,200
Operating loss carry forward [Abstract]
Net operating loss carryforward	$ 1,200	1,200
Expiry date	2038
Senegal [Member]
Deferred tax asset not been recognized [Abstract]
Unused tax losses	$ 2,700	2,900
Operating loss carry forward [Abstract]
Net operating loss carryforward	$ 2,700	$ 2,900
Expiry date	2022 through 2025

INCOME TAXES - Reconciliation of Effective Tax Rate (Details) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Reconciliation of effective tax rate [Abstract]
Net income for the year	$ 2,847,000	$ 7,770,000	$ 10,965,000
Income tax expense / (benefit)	1,918,000	2,315,000	8,445,000
Total income before taxation	4,765,000	10,085,000	19,410,000
Reconciliation of accounting profit multiplied by applicable tax rates [Abstract]
Income tax expense using the applicable tax rate	1,001,000	2,118,000	4,230,000
State taxes (net of federal tax effect)	349,000	1,303,000	1,073,000
Effect of tax and exchange rates in foreign jurisdictions	175,000	(776,000)	1,043,000
Foreign subsidiaries taxed at lower rate or tax exempt	1,064,000	191,000	(380,000)
Non-deductible expenses / exempt income	256,000	328,000	470,000
Employment and other tax credits	(967,000)	0	0
Cancellation of legacy ESOP plan		0	3,104,000
Effect of disposal of subsidiaries		0	(403,000)
Prior year provision / other items	(180,000)	(320,000)	73,000
Unrecognized losses utilized during the year		1,018,000	0
Change in unrecognized temporary differences	220,000	(1,547,000)	(765,000)
Total	$ 1,918,000	$ 2,315,000	$ 8,445,000
Reconciliation of average effective tax rate and applicable tax rate [Abstract]
Income tax expense using the applicable tax rate	21.00%	21.00%	21.00%
State taxes (net of federal tax effect)	7.30%	12.90%	5.30%
Effect of tax and exchange rates in foreign jurisdictions	3.70%	(7.70%)	5.10%
Foreign subsidiaries taxed at lower rate or tax exempt	22.30%	1.90%	(1.90%)
Non-deductible expenses / exempt income	5.40%	3.30%	2.30%
Employment and other tax credits	(20.30%)
Cancellation of legacy ESOP plan		0.00%	15.20%
Effect of disposal of subsidiaries		0.00%	(2.00%)
Prior year provision / other items	(3.80%)	(3.20%)	0.40%
Unrecognized losses utilized during the year		10.10%	0.00%
Change in unrecognized temporary differences	4.60%	(15.30%)	(3.70%)
Total	40.20%	23.00%	41.70%

SHARE OPTION PLANS (Details) - USD ($) $ in Thousands	12 Months Ended
SHARE OPTION PLANS (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Share-based Payment Expense [Abstract]
Share-based payments	$ 4,521	$ 359	$ 4,087
Share-based payments from discontinued operations			875
Phantom Stock Plan [Member]
Share-based Payment Expense [Abstract]
Share-based payments	851	(31)	(300)
Equity Settled
Share-based Payment Expense [Abstract]
Share-based payments	3,670	390	4,387
2017 IBEX Stock Plan [Member]
Share-based Payment Expense [Abstract]
Share-based payments			4,132
2018 Restricted Stock Awards (RSA) [Member]
Share-based Payment Expense [Abstract]
Share-based payments	45	95	$ 255
2020 Long Term Incentive Plan [Member]
Share-based Payment Expense [Abstract]
Share-based payments	$ 3,625	$ 295

SHARE OPTION PLANS - 2017 IBEX Stock Plan (Details)		1 Months Ended	12 Months Ended
SHARE OPTION PLANS - 2017 IBEX Stock Plan (Details)	Mar. 16, 2018	Dec. 31, 2017 instrument USD ($) $ / shares shares	Jun. 30, 2021 Y EquityInstruments $ / shares shares	Jun. 30, 2019 USD ($)	Feb. 21, 2018 shares	Jun. 20, 2017 shares
Stock Plan [Abstract]
Number of shares authorized (in shares) \| shares			108,057,967
Granted (in shares) \| EquityInstruments			525,143
Estimated fair value of common shares (in dollars per share)			$ 19.52
Expected term \| Y			6
Volatility			31.80%
Risk-free rate			1.20%
2017 IBEX Stock Plan [Member]
Stock Plan [Abstract]
Reverse stock split ratio	1.11650536356898
Estimated fair value of common shares (in dollars per share)			$ 14.00
Expected term			4.92
Volatility			35.60%
Risk-free rate			2.26%
Termination benefits expense \| $				$ 4,900,000
Additional expense to fully write off \| $				$ 3,200,000
2017 IBEX Stock Plan [Member] \| Top of Range [Member]
Stock Plan [Abstract]
Number of shares authorized (in shares) \| shares					2,559,323	1,798,019
2017 IBEX Stock Plan, Incentive Stock Option [Member]
Stock Plan [Abstract]
Percentage of shareholder granted options			10.00%
Percentage of fair market value of shares			110.00%
2017 IBEX Stock Plan, Incentive Stock Option [Member] \| Top of Range [Member]
Stock Plan [Abstract]
Option term			10 years
Option term if granted to 10% shareholders			5 years
2017 IBEX Stock Plan, Stock Option [Member] \| Bottom of Range [Member]
Stock Plan [Abstract]
Option, vesting term			3 years
2017 IBEX Stock Plan, Stock Option [Member] \| Top of Range [Member]
Stock Plan [Abstract]
Option, vesting term			4 years
2017 IBEX Stock Plan, Stock Option [Member] \| Employees [Member]
Stock Plan [Abstract]
Options, vested (in shares) \| shares		1,778,569
Weighted average exercise price of options granted (in dollars per share)		$ 6.81
Fair value of share options granted (in dollars per share)		8.428
Weighted average exercise prices [Abstract]
Options granted during the period (in dollars per share)		$ 6.81
Number of Options [Abstract]
Options granted during the period (in shares) \| $		480,128
2017 IBEX Stock Plan, Restricted Stock Awards [Member] \| Employees [Member]
Stock Plan [Abstract]
Granted (in shares) \| instrument		0

SHARE OPTION PLANS - Phantom Stock Plans (Details)	1 Months Ended					12 Months Ended
SHARE OPTION PLANS - Phantom Stock Plans (Details)	Feb. 28, 2021	Feb. 28, 2021 shares	Feb. 28, 2021 USD ($)	Feb. 28, 2021	Feb. 28, 2021 $ / shares	Jun. 30, 2021 USD ($) Y EquityInstruments $ / shares shares	Jun. 30, 2020 USD ($) $ / shares	Jun. 30, 2019 USD ($) $ / shares
Phantom Stock Plans [Abstract]
Granted (in shares) \| EquityInstruments						525,143
Estimated fair value of common shares (in dollars per share) \| $ / shares						$ 19.52
Expected term \| Y						6
Volatility						31.80%
Risk-free rate						1.20%
Options outstanding and exercisable [Abstract]
Share-based payments						$ 4,521,000	$ 359,000	$ 4,087,000
Intrinsic value of stock options						0
Liability under stock option						514,000	$ 411,000
Phantom Stock Plan [Member]
Phantom Stock Plans [Abstract]
Minimum allowed payment due to a grantee						$ 10,000,000
Maximum term for payment due to grantee						3 years
Minimum installment payment due to grantee						$ 10,000,000
Maximum residual amount allowed due to grantee						$ 10,000,000
Granted (in shares)			167,935		20.86
Options, vested (in shares) \| shares		5,335
Options vested percentage				25.00%
Option, vesting term	36 months
Weighted average exercise price of options granted (in dollars per share) \| $ / shares						$ 20.86
Estimated fair value of common shares (in dollars per share) \| $ / shares						19.52
Weighted average exercise prices [Abstract]
Option outstanding as beginning of the period (in dollars per share) \| $ / shares						6.81	$ 6.81
Options granted during the period (in dollars per share) \| $ / shares						20.86
Options exercised during the period (in dollars per share) \| $ / shares						6.81
Options outstanding as of end of the period (in dollars per share) \| $ / shares						18.01	6.81	$ 6.81
Options exercisable as of end of the period (in dollars per share) \| $ / shares						$ 12.90	$ 6.81
Number of Options [Abstract]
Options outstanding as of beginning of the period (in shares)						54,575	54,575
Options granted during the period (in shares)						167,935
Options exercised during the period (in shares)						(11,770)
Options outstanding as of end of the period (in shares)						210,740	54,575	54,575
Options exercisable as of end of the period (in shares)						95,660	45,684
Options outstanding and exercisable [Abstract]
Options outstanding, number (in shares)						210,740	54,575	54,575
Options outstanding, weighted average exercise price (in dollars per share) \| $ / shares						$ 18.01	$ 6.81	$ 6.81
Options exercisable, number (in shares)						95,660	45,684
Options exercisable, weighted average exercise price (in dollars per share) \| $ / shares						$ 12.90	$ 6.81
Weighted average fair value of options (in dollars per share) \| $ / shares						$ 13.84	$ 6.81
Share-based payments						$ 851,000	$ (31,000)	$ (300,000)
Unrecognized compensation expense						$ 400,000
Period for recognition of compensation expense						32 months
Reversed expenses in connection to forfeiture for vesting conditions not being met						$ 900,000
Phantom Stock Plan [Member] \| Non Current Liabilities
Options outstanding and exercisable [Abstract]
Liability under stock option						500,000
Phantom Stock Plan [Member] \| Trade Payables
Options outstanding and exercisable [Abstract]
Liability under stock option						$ 600,000
Phantom Stock Plan [Member] \| Bottom of Range [Member]
Phantom Stock Plans [Abstract]
Expected term						1.65
Volatility						32.23%
Risk-free rate						0.25%
Fair value of share options granted (in dollars per share) \| $ / shares						$ 5.53
Phantom Stock Plan [Member] \| Top of Range [Member]
Phantom Stock Plans [Abstract]
Expected term						5.66
Volatility						44.29%
Risk-free rate						1.04%
Fair value of share options granted (in dollars per share) \| $ / shares						$ 12.82
Ibex Global Solutions Philippines Inc [Member]
Options outstanding and exercisable [Abstract]
Number Of Options Available For Issuance \| shares						400,000
Ibex Global Jamaica Limited [Member]
Options outstanding and exercisable [Abstract]
Number Of Options Available For Issuance \| shares						200,000

SHARE OPTION PLANS - 2018 Restricted Stock Award Program (Details)	1 Months Ended	12 Months Ended
	Dec. 31, 2018 USD ($)	Jun. 30, 2021 Y EquityInstruments $ / shares shares	Jun. 30, 2020 shares
Stock Plan [Abstract]
Number of shares authorized (in shares) \| shares		108,057,967
Par value per share (in dollars per share)		$ 0.0001
Granted (in shares) \| EquityInstruments		525,143
Vested (in shares) \| EquityInstruments		1,442
Fair value of common shares (in dollars per share)		$ 19.52
Expected term \| Y		6
Volatility		31.80%
Risk-free rate		1.20%
Class B ordinary shares [Member]
Stock Plan [Abstract]
Number of shares authorized (in shares) \| shares			3,139,114
2018 Restricted Stock Awards (RSA) [Member]
Stock Plan [Abstract]
Granted (in shares) \| $	2,373,374
Vested (in shares) \| $	721,596
Fair value of common shares (in dollars per share)		$ 0.61
Expected term		3.84
Volatility		26.00%
Risk-free rate		2.87%
2018 Restricted Stock Awards (RSA) [Member] \| Class B ordinary shares [Member]
Stock Plan [Abstract]
Number of shares authorized (in shares) \| shares		2,559,323.13
Par value per share (in dollars per share)		$ 0.000111650536
2018 Restricted Stock Awards (RSA) [Member] \| Bottom of Range [Member]
Stock Plan [Abstract]
Vested term		13 months
2018 Restricted Stock Awards (RSA) [Member] \| Top of Range [Member]
Stock Plan [Abstract]
Vested term		4 years

SHARE OPTION PLANS - 2018 RSA Plan, Non-Executive Management (Details)	1 Months Ended						12 Months Ended
	Jun. 30, 2021 EquityInstruments USD ($) $ / shares shares	Feb. 28, 2021 EquityInstruments $ / shares	Jan. 31, 2021 EquityInstruments $ / shares	Dec. 31, 2020 EquityInstruments $ / shares	Aug. 31, 2020 EquityInstruments $ / shares	Dec. 31, 2018 USD ($)	Jun. 30, 2021 USD ($) EquityInstruments $ / shares shares	Jun. 30, 2020 USD ($) EquityInstruments $ / shares shares	Jun. 30, 2019 USD ($) EquityInstruments $ / shares
Grant Date Fair Market Value [Abstract]
Outstanding as of beginning of the period (in dollars per share) \| $ / shares							$ 12.75	$ 12.75
Granted during the period (in dollars per share) \| $ / shares							19.23
Exercised during the period (in dollars per share) \| $ / shares							19.00
Forfeited / cancelled / expired during the period (in dollars per share) \| $ / shares							15.96
Outstanding as of end of the period (in dollars per share) \| $ / shares	$ 16.70						$ 16.70	$ 12.75	$ 12.75
Number [Abstract]
Outstanding as of beginning of the period (in shares) \| EquityInstruments							338,432	338,432
Granted during the period (in shares) \| EquityInstruments							525,143
Exercised during the period (in shares) \| EquityInstruments							(1,442)
Forfeited / cancelled / expired during the period (in shares) \| shares							(16,215)
Outstanding as of end of the period (in shares) \| EquityInstruments	845,918						845,918	338,432	338,432
Share-based payments							$ 4,521,000	$ 359,000	$ 4,087,000
2018 Restricted Stock Awards (RSA) [Member]
Number [Abstract]
Granted during the period (in shares)						2,373,374
Exercised during the period (in shares)						(721,596)
Share-based payments							$ 45,000	$ 95,000	$ 255,000
2018 Restricted Stock Awards (RSA) [Member] \| Bottom of Range [Member]
Number [Abstract]
Vested term							13 months
2018 Restricted Stock Awards (RSA) [Member] \| Top of Range [Member]
Number [Abstract]
Vested term							4 years
2018 RSA Plan - Non-Executive Management [Member]
Grant Date Fair Market Value [Abstract]
Outstanding as of beginning of the period (in dollars per share) \| $ / shares							$ 0.61
Granted during the period (in dollars per share) \| $ / shares							0.61
Forfeited / cancelled / expired during the period (in dollars per share) \| $ / shares							0.61	$ 0.61
Outstanding as of end of the period (in dollars per share) \| $ / shares	$ 0.61						0.61	0.61
Vested as of end of the period (in dollars per share) \| $ / shares	$ 0.61						$ 0.61	$ 0.61
Number [Abstract]
Outstanding as of beginning of the period (in shares)							650,193	916,929
Granted during the period (in shares)						928,124	280
Forfeited / cancelled / expired during the period (in shares) \| shares							(12,088)	(266,736)
Outstanding as of end of the period (in shares)	638,385						638,385	650,193	916,929
Option vested (in shares) \| shares	587,756						587,756	481,859
Percentage of outstanding shares vested							92.10%	74.10%
Share-based payments							$ 30,000.00	$ 100,000
Unrecognized compensation expense							$ 6,000.000
Period for recognition of compensation expense							9 months
2018 RSA Plan - Non-Executive Management [Member] \| Bottom of Range [Member]
Number [Abstract]
Vested term							13 months
2018 RSA Plan - Non-Executive Management [Member] \| Top of Range [Member]
Number [Abstract]
Vested term							4 years
2020 Long Term Incentive Plan [Member]
Grant Date Fair Market Value [Abstract]
Granted during the period (in dollars per share) \| $ / shares	$ 18.72	$ 20.86	$ 18.82	$ 19.85	$ 19.0
Number [Abstract]
Granted during the period (in shares)	27,800	23,500	20,000	97,000	341,843		510,143	338,432
Exercised during the period (in shares)							(1,442)
Forfeited / cancelled / expired during the period (in shares) \| shares							16,215
Vested term	36 months			36 months	24 months
Share-based payments							$ 3,625,000	$ 295,000
Unrecognized compensation expense							$ 1,700,000
Period for recognition of compensation expense							48 months
2020 Long Term Incentive Plan [Member] \| Bottom of Range [Member]
Number [Abstract]
Vested term							13 months
2020 Long Term Incentive Plan [Member] \| Top of Range [Member]
Number [Abstract]
Vested term							4 years

SHARE OPTION PLANS - 2018 RSA Plan Non-Performance, Executive Leadership Team (Details)	1 Months Ended	12 Months Ended
	Dec. 31, 2018 EquityInstruments USD ($)	Jun. 30, 2021 EquityInstruments USD ($) $ / shares shares	Jun. 30, 2020 EquityInstruments USD ($) $ / shares shares
Grant Date Fair Market Value [Abstract]
Outstanding as of beginning of the period (in dollars per share)		$ 12.75	$ 12.75
Granted during the period (in dollars per share)		19.23
Exercised during the period (in dollars per share)		19.00
Forfeited / cancelled / expired during the period (in dollars per share)		15.96
Outstanding as of end of the period (in dollars per share)		$ 16.70	$ 12.75
Number [Abstract]
Outstanding as of beginning of the period (in shares) \| EquityInstruments		338,432	338,432
Granted during the period (in shares) \| EquityInstruments		525,143
Exercised during the period (in shares) \| EquityInstruments		(1,442)
Forfeited / cancelled / expired during the period (in shares) \| shares		(16,215)
Outstanding as of end of the period (in shares) \| EquityInstruments		845,918	338,432
Bottom of Range [Member]
Stock Plan [Abstract]
Interest rate		6.00%
Top of Range [Member]
Stock Plan [Abstract]
Interest rate		9.76%
2018 Restricted Stock Awards (RSA) [Member]
Number [Abstract]
Granted during the period (in shares) \| $	2,373,374
Exercised during the period (in shares) \| $	(721,596)
2018 Restricted Stock Awards (RSA) [Member] \| Bottom of Range [Member]
Number [Abstract]
Vested term		13 months
2018 Restricted Stock Awards (RSA) [Member] \| Top of Range [Member]
Number [Abstract]
Vested term		4 years
2018 RSA Plan Non-Performance - Executive Leadership Team [Member]
Grant Date Fair Market Value [Abstract]
Outstanding as of beginning of the period (in dollars per share)		$ 0.61	$ 0.61
Forfeited / cancelled / expired during the period (in dollars per share)			0.61
Outstanding as of end of the period (in dollars per share)		0.61	0.61
Vested as of end of the period (in dollars per share)		$ 0.61	$ 0.61
Number [Abstract]
Outstanding as of beginning of the period (in shares) \| $		918,719	1,006,519
Granted during the period (in shares) \| EquityInstruments	970,893
Forfeited / cancelled / expired during the period (in shares) \| shares			(87,800)
Outstanding as of end of the period (in shares) \| $		918,719	918,719
Option vested (in shares) \| shares		844,452	647,702
Percentage of outstanding shares vested		91.90%	70.50%
2018 RSA Plan Non-Performance - Executive Leadership Team [Member] \| Bottom of Range [Member]
Number [Abstract]
Vested term		24 months
2018 RSA Plan Non-Performance - Executive Leadership Team [Member] \| Top of Range [Member]
Number [Abstract]
Vested term		4 years
2018 RSA Plan Non-Performance - Executive Leadership Team [Member] \| Promissory Note [Member]
Stock Plan [Abstract]
Interest rate		3.00%
Percentage of note in recourse portion		50.00%
Percentage of note in non-recourse portion		50.00%

SHARE OPTION PLANS - 2018 RSA Plan Performance, Executive Leadership Team (Details)				1 Months Ended							12 Months Ended
	May 20, 2020 shares	Jan. 28, 2020 shares	Dec. 31, 2019 $ / shares shares	Jun. 30, 2021 EquityInstruments USD ($) $ / shares shares	Feb. 28, 2021 EquityInstruments $ / shares	Jan. 31, 2021 EquityInstruments $ / shares	Dec. 31, 2020 EquityInstruments $ / shares	Aug. 31, 2020 EquityInstruments $ / shares	Dec. 31, 2019 shares	Dec. 31, 2018 USD ($)	Jun. 30, 2021 EquityInstruments USD ($) $ / shares shares	Jun. 30, 2020 EquityInstruments USD ($) $ / shares shares
Grant Date Fair Market Value [Abstract]
Outstanding as of beginning of the period (in dollars per share)											$ 12.75	$ 12.75
Granted during the period (in dollars per share)											19.23
Exercised during the period (in dollars per share)											19.00
Forfeited / cancelled / expired during the period (in dollars per share)											15.96
Outstanding as of end of the period (in dollars per share)				$ 16.70							$ 16.70	$ 12.75
Number [Abstract]
Outstanding as of beginning of the period (in shares) \| EquityInstruments											338,432	338,432
Granted during the period (in shares) \| EquityInstruments											525,143
Exercised during the period (in shares) \| EquityInstruments											(1,442)
Forfeited / cancelled / expired during the period (in shares) \| shares											(16,215)
Outstanding as of end of the period (in shares) \| EquityInstruments				845,918							845,918	338,432
2018 Restricted Stock Awards (RSA) [Member]
Number [Abstract]
Granted during the period (in shares) \| $										2,373,374
Exercised during the period (in shares) \| $										(721,596)
2018 Restricted Stock Awards, Performance - Executive Leadership Team [Member]
Stock Plan [Abstract]
Number of shares to be allocated upon successful completion of IPO (in shares) \| shares			170,680
Number of shares to be allocated upon meeting specific revenue and EBITDA targets (in shares) \| shares			10,000
Grant Date Fair Market Value [Abstract]
Outstanding as of beginning of the period (in dollars per share)											$ 0.61	$ 0.61
Forfeited / cancelled / expired during the period (in dollars per share)												0.61
Outstanding as of end of the period (in dollars per share)				$ 0.61							0.61	0.61
Vested as of end of the period (in dollars per share)				$ 0.61							$ 0.61	$ 0.61
Number [Abstract]
Outstanding as of beginning of the period (in shares) \| $											272,748	449,926
Forfeited / cancelled / expired during the period (in shares) \| shares												(177,178)
Outstanding as of end of the period (in shares) \| $				272,748							272,748	272,748
Option vested (in shares) \| shares				207,961							207,961	46,809
Percentage of outstanding shares vested											76.30%	17.20%
2018 Restricted Stock Awards, Performance - Executive Leadership Team [Member] \| Class A Common Shares [Member]
Stock Plan [Abstract]
Number of shares to be allocated upon average price per share equaling or exceeding threshold price (in shares) \| shares			103,264						103,264
2018 Restricted Stock Awards, Performance - Executive Leadership Team [Member] \| Class A Common Shares [Member] \| Bottom of Range [Member]
Stock Plan [Abstract]
Average price per share (in dollars per share)			$ 17.42
2020 RSA Amendments [Member]
Stock Plan [Abstract]
Number of shares to be allocated upon average price per share equaling or exceeding threshold price (in shares) \| shares											78,264
Number [Abstract]
Number of shares to achieve performance triggers (in shares) \| shares		67,176
2020 Long Term Incentive Plan [Member]
Grant Date Fair Market Value [Abstract]
Granted during the period (in dollars per share)				$ 18.72	$ 20.86	$ 18.82	$ 19.85	$ 19.0
Number [Abstract]
Granted during the period (in shares)				27,800	23,500	20,000	97,000	341,843			510,143	338,432
Exercised during the period (in shares) \| $											(1,442)
Forfeited / cancelled / expired during the period (in shares) \| shares											16,215
Number of remaining shares transferred to other plan (in shares) \| shares	707,535

SHARE OPTION PLANS - 2020 Long Term Incentive Plan (Details)	1 Months Ended					12 Months Ended
	Jun. 30, 2021 EquityInstruments $ / shares shares	Feb. 28, 2021 EquityInstruments $ / shares	Jan. 31, 2021 EquityInstruments $ / shares shares	Dec. 31, 2020 EquityInstruments $ / shares shares	Aug. 31, 2020 EquityInstruments $ / shares	Jun. 30, 2021 USD ($) Y EquityInstruments $ / shares shares	Jun. 30, 2020 USD ($) EquityInstruments $ / shares	Jun. 30, 2019 USD ($) EquityInstruments $ / shares
Stock Plan [Abstract]
Number of shares authorized (in shares) \| shares	108,057,967					108,057,967
Fair value of common shares (in dollars per share)						$ 19.52
Expected term \| Y						6
Volatility						31.80%
Risk-free rate						1.20%
Grant Date Fair Market Value [Abstract]
Outstanding as of beginning of the period (in dollars per share)						$ 12.75	$ 12.75
Granted during the period (in dollars per share)						19.23
Exercised during the period (in dollars per share)						19.00
Forfeited / cancelled / expired during the period (in dollars per share)						15.96
Outstanding as of end of the period (in dollars per share)	$ 16.70					16.70	12.75	$ 12.75
Exercisable as of end of period (in dollars per share)	$ 16.97					$ 16.97	$ 12.75
Number [Abstract]
Outstanding as of beginning of the period (in shares) \| EquityInstruments						338,432	338,432
Granted during the period (in shares) \| EquityInstruments						525,143
Exercised during the period (in shares) \| EquityInstruments						(1,442)
Forfeited / cancelled / expired during the period (in shares) \| shares						(16,215)
Outstanding as of end of the period (in shares) \| EquityInstruments	845,918					845,918	338,432	338,432
Exercisable as of end of the period (in shares) \| EquityInstruments	366,865					366,865	40,500
Share-based payments \| $						$ 4,521,000	$ 359,000	$ 4,087,000
Share-based payments from discontinued operations \| $								$ 875,000
2020 Long Term Incentive Plan [Member]
Stock Plan [Abstract]
Fair value of common shares (in dollars per share)						$ 19.52
Grant Date Fair Market Value [Abstract]
Granted during the period (in dollars per share)	$ 18.72	$ 20.86	$ 18.82	$ 19.85	$ 19.0
Number [Abstract]
Granted during the period (in shares)	27,800	23,500	20,000	97,000	341,843	510,143	338,432
Exercised during the period (in shares) \| $						(1,442)
Forfeited / cancelled / expired during the period (in shares) \| shares						16,215
Share-based payments \| $						$ 3,625,000	$ 295,000
Percentage of vesting					50.00%
Vested term	36 months			36 months	24 months
Unrecognized compensation expense \| $						$ 1,700,000
Period for recognition of compensation expense						48 months
2020 Long Term Incentive Plan [Member] \| Ifrs Share-based Payment Arrangement, Tranche One [Member]
Stock Plan [Abstract]
Option vested (in shares) \| shares				77,000
Number [Abstract]
Percentage of vesting		25.00%		25.00%
Vested term		36 months		36 months
2020 Long Term Incentive Plan [Member] \| Vests Based on Satisfaction Of The Performance Obligation [Member]
Stock Plan [Abstract]
Option vested (in shares) \| shares				20,000
2020 Long Term Incentive Plan [Member] \| Bottom of Range [Member]
Stock Plan [Abstract]
Expected term						5.3
Volatility						29.40%
Risk-free rate						0.57%
Number [Abstract]
Vested term						13 months
2020 Long Term Incentive Plan [Member] \| Top of Range [Member]
Stock Plan [Abstract]
Number of shares authorized (in shares) \| shares	1,287,326.13					1,287,326.13
Option term						10 years
Expected term						10.0
Volatility						47.70%
Risk-free rate						1.20%
Number [Abstract]
Vested term						4 years
2017 IBEX Stock Plan, Phantom Stock Plan and 2018 RSA Plan [Member]
Number [Abstract]
Share-based payments \| $						$ 4,500,000	$ 400,000
Restricted Stock Awards 2020 [Member]
Grant Date Fair Market Value [Abstract]
Granted during the period (in dollars per share)		$ 18.30
Number [Abstract]
Granted during the period (in shares)		5,000		10,000		15,000
Restricted Stock Awards 2020 [Member] \| Ifrs Share-based Payment Arrangement, Tranche One [Member]
Stock Plan [Abstract]
Option vested (in shares) \| shares				5,000
Grant Date Fair Market Value [Abstract]
Granted during the period (in dollars per share)				$ 19.55
Number [Abstract]
Percentage of vesting				13.00%
Vested term				24 months
Restricted Stock Awards 2020 [Member] \| Ifrs Share-based Payment Arrangement, Tranche Two [Member]
Stock Plan [Abstract]
Option vested (in shares) \| shares			5,000
Grant Date Fair Market Value [Abstract]
Granted during the period (in dollars per share)			$ 19.85

EARNINGS PER SHARE (Details)		1 Months Ended						12 Months Ended
EARNINGS PER SHARE (Details)	Jul. 24, 2020 USD ($)	Jun. 30, 2021 USD ($) EquityInstruments	Feb. 28, 2021 EquityInstruments	Jan. 31, 2021 EquityInstruments	Dec. 31, 2020 EquityInstruments	Aug. 31, 2020 EquityInstruments	Dec. 31, 2018 USD ($)	Jun. 30, 2021 USD ($) EquityInstruments $ / shares shares	Jun. 30, 2020 USD ($) $ / shares shares	Jun. 30, 2019 USD ($) $ / shares shares
Earnings per share [Abstract]
Shares excluded \| shares								735,475
Number of shares vested (in shares) \| EquityInstruments								1,442
Number of shares granted (in shares) \| EquityInstruments								525,143
Warrants vested (in shares) \| shares								502,205	288,748
Basic and diluted earnings per share [Abstract]
Total - Income attributable to shareholders of the Holding Company								$ 2,847,000	$ 7,770,000	$ 10,965,000
Continuing operations - Income / (loss) attributable to shareholders of the Holding Company								2,847,000	7,770,000	(4,519,000)
Total - Income attributable to ordinary shareholders of the company								2,847,000	0	0
Continuing operations - Income attributable to ordinary shareholders of the company								$ 2,847,000	$ 0	$ 0
Weighted average number of ordinary shares - basic (in shares) \| shares								17,649,446	1,176,370	956,835
Total - Basic earnings per share (in dollars per share) \| $ / shares								$ 0.16	$ 0	$ 0
Continuing operations - Basic earnings per share (in dollars per share) \| $ / shares								$ 0.16	$ 0	$ 0
Weighted average number of ordinary shares - diluted (in shares) \| shares								18,384,921	12,936,962	12,461,182
Total - Diluted earnings per share (in dollars per share) \| $ / shares								$ 0.15	$ 0	$ 0
Continuing operations - Diluted earnings / (loss) per share (in dollars per share) \| $ / shares								$ 0.15	$ 0	$ (0.36)
Restricted Share Awards [Member]
Earnings per share [Abstract]
Number of shares vested (in shares)									1,176,370
Number of shares granted (in shares)							2,373,374		1,841,660
Number of shares unvested (in shares) \| shares									665,291
2020 Long Term Incentive Plan [Member]
Earnings per share [Abstract]
Number of shares vested (in shares)								1,442
Number of shares granted (in shares)		27,800	23,500	20,000	97,000	341,843		510,143	338,432
Number of options vested (in shares) \| shares									40,500
Number of options issued (in shares)									338,432
Series A, Series B and Series C [Member]
Basic and diluted earnings per share [Abstract]
Total - Income attributable to shareholders of the Holding Company								$ 0	$ 0	$ 0
Series B and C Convertible Stock [Member]
Earnings per share [Abstract]
Total dividends payable		$ 91,800,000						91,800,000
Series A [Member]
Earnings per share [Abstract]
Total dividends payable		$ 9,500,000						$ 9,500,000
Series A [Member] \| TRGI [Member]
Earnings per share [Abstract]
Total dividends paid	$ 4,000,000

DIVIDEND DISTRIBUTION (Details) - USD ($) $ in Thousands		12 Months Ended
DIVIDEND DISTRIBUTION (Details) - USD ($) $ in Thousands	Jul. 21, 2020	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Dividend distribution [Abstract]
Dividend paid	$ 4,000
Dividend liability paid		$ 4,000	$ 121	$ 1,600
Subsidiaries [member]
Dividend distribution [Abstract]
Dividend declared				0
Dividend paid			$ 100
Dividend liability paid				$ 1,600

FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES - Financial Instruments Held by Category Financial Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Disclosure of financial assets [abstract]
Financial assets, amortized cost	$ 131,955	$ 81,243
Deposits [Member]
Disclosure of financial assets [abstract]
Financial assets, amortized cost	4,446	3,427
Trade Receivables [Member]
Disclosure of financial assets [abstract]
Financial assets, amortized cost	66,689	53,436
Other Receivables [Member]
Disclosure of financial assets [abstract]
Financial assets, amortized cost	1,223	923
Other Receivables [Member] \| Re-presented [Member]
Disclosure of financial assets [abstract]
Financial assets, amortized cost		3,500
Due from Related Parties [Member]
Disclosure of financial assets [abstract]
Financial assets, amortized cost	1,755	1,587
Cash and Cash Equivalents [Member]
Disclosure of financial assets [abstract]
Financial assets, amortized cost	$ 57,842	$ 21,870

FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES - Financial Instruments Held by Category Financial Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Disclosure of financial liabilities [abstract]
Financial liabilities, amortised cost	$ 139,486	$ 137,482
Financial liabilities, fair value through profit or loss	13,621	3,889
Financial liabilities, fair value through Comprehensive income	316	518
Lease liabilities [Member]
Disclosure of financial liabilities [abstract]
Financial liabilities, amortised cost	83,999	74,712
Borrowings [Member]
Disclosure of financial liabilities [abstract]
Financial liabilities, amortised cost	28,517	31,258
Trade and Other Payables [Member]
Disclosure of financial liabilities [abstract]
Financial liabilities, amortised cost	22,695	25,773
Due to Related Parties [Member]
Disclosure of financial liabilities [abstract]
Financial liabilities, amortised cost	4,275	5,739
Warrant Liabilities [Member]
Disclosure of financial liabilities [abstract]
Financial liabilities, fair value through profit or loss	13,621	3,889
Cash Flow Hedge [Member]
Disclosure of financial liabilities [abstract]
Financial liabilities, fair value through Comprehensive income	$ 316	$ 518

FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES - Movement of Warrant Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Change in liability [Abstract]
Opening balance	$ 3,889	$ 751
Fair value adjustment	7,786	2,305
Warrants vested during the period	1,946	833
Closing balance	$ 13,621	$ 3,889

FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES - Financial Liability Measured at Fair Value (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Disclosure of financial liabilities [abstract]
Financial liabilities at fair value through profit or loss	$ 13,621	$ 3,889
Financial liabilities at fair value through Comprehensive income	316	518
Financial liabilities, fair value	13,937	4,407
Reclassification to profit and loss	202	(518)	$ 0
Transfer between level 2 to level 3	0
Transfer between level 3 to level 2	0
Warrant Liabilities [Member]
Disclosure of financial liabilities [abstract]
Financial liabilities at fair value through profit or loss	13,621	3,889
Warrant Liabilities [Member] \| Level 3 [Member]
Disclosure of financial liabilities [abstract]
Financial liabilities at fair value through profit or loss	13,621	3,889
Cash Flow Hedge [Member]
Disclosure of financial liabilities [abstract]
Financial liabilities at fair value through Comprehensive income	316	518
Reclassification to profit and loss	0
Cash Flow Hedge [Member] \| Level 2 [Member]
Disclosure of financial liabilities [abstract]
Financial liabilities at fair value through Comprehensive income	$ 316	$ 518

FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES - Market Risk (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2020
Disclosure of detailed information about borrowings [abstract]
Balance outstanding	$ 6,205	$ 9,783
Impact of 1% change in interest rates on finance costs	$ 900	800
Top of Range [Member]
Disclosure of detailed information about borrowings [abstract]
Interest rate	9.76%
Bottom of Range [Member]
Disclosure of detailed information about borrowings [abstract]
Interest rate	6.00%
PNC Term Loan [Member]
Disclosure of detailed information about borrowings [abstract]
Balance outstanding		2,359
PNC Term Loan [Member] \| LIBOR [Member] \| Top of Range [Member]
Disclosure of detailed information about borrowings [abstract]
Interest rate	1.75%
PNC Term Loan [Member] \| LIBOR [Member] \| Bottom of Range [Member]
Disclosure of detailed information about borrowings [abstract]
Interest rate	(0.50%)
Heritage Bank of Commerce [Member]
Disclosure of detailed information about borrowings [abstract]
Balance outstanding		1,833
Interest rate swap contract [member] \| PNC Credit Facility [Member]
Disclosure of detailed information about borrowings [abstract]
Interest rate swap notional value			$ 15,000
Balance outstanding			$ 15,000
Fair value	$ 300	$ 500

FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES - Foreign Currency Exchange Risk (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Philippines, Pesos [Member]
Foreign exchange losses on foreign exchange contracts [Abstract]
Effect of 5.0% depreciation in functional currency against U.S dollar on net loss after taxation	$ (1.6)	$ (1.4)
Effect of 5.0% appreciation in functional currency against U.S dollar on net loss after taxation	1.6	1.4
Euro [Member]
Foreign exchange losses on foreign exchange contracts [Abstract]
Effect of 5.0% depreciation in functional currency against U.S dollar on net loss after taxation	(0.1)	(0.1)
Effect of 5.0% appreciation in functional currency against U.S dollar on net loss after taxation	0.1	0.1
Pakistan, Rupees [Member]
Foreign exchange losses on foreign exchange contracts [Abstract]
Effect of 5.0% depreciation in functional currency against U.S dollar on net loss after taxation	(0.3)	(0.3)
Effect of 5.0% appreciation in functional currency against U.S dollar on net loss after taxation	$ 0.3	$ 0.3

FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES - Credit Rating (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Disclosure of external credit grades [abstract]
Bank balances	$ 57,842	$ 21,870
A-1+ [Member]
Disclosure of external credit grades [abstract]
Bank balances	2,396	1,553
A-1 [Member]
Disclosure of external credit grades [abstract]
Bank balances	403	1
A+ [Member]
Disclosure of external credit grades [abstract]
Bank balances	3,138	2,803
A [Member]
Disclosure of external credit grades [abstract]
Bank balances	45,082	4,295
A- [Member]
Disclosure of external credit grades [abstract]
Bank balances		94
B- [Member]
Disclosure of external credit grades [abstract]
Bank balances		2,693
B+ [Member]
Disclosure of external credit grades [abstract]
Bank balances	955	819
BA3 [Member]
Disclosure of external credit grades [abstract]
Bank balances	90	165
BB+ [Member]
Disclosure of external credit grades [abstract]
Bank balances		62
BBB+ [Member]
Disclosure of external credit grades [abstract]
Bank balances	4,635	7,834
BBB [Member]
Disclosure of external credit grades [abstract]
Bank balances	1,118	1,528
Non - Rated [Member]
Disclosure of external credit grades [abstract]
Bank balances	$ 25	$ 23

FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES - Credit Risk (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Disclosure of financial assets [abstract]
Financial assets at amortised cost	$ 131,955	$ 81,243
Deposits [Member]
Disclosure of financial assets [abstract]
Financial assets at amortised cost	4,446	3,427
Trade Receivables [Member]
Disclosure of financial assets [abstract]
Financial assets at amortised cost	66,689	53,436
Other Receivables [Member]
Disclosure of financial assets [abstract]
Financial assets at amortised cost	1,223	923
Due from Related Parties [Member]
Disclosure of financial assets [abstract]
Financial assets at amortised cost	1,755	1,587
Cash and Cash Equivalents [Member]
Disclosure of financial assets [abstract]
Financial assets at amortised cost	$ 57,842	$ 21,870

FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES - Concentration of Credit Risk (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Disclosure of major customers [abstract]
Revenue from external customers	$ 443,662	$ 405,135	$ 368,380
Revenue from discontinued operations			$ 64,740
Percentage of total revenue	100.00%	100.00%	100.00%
Trade receivables gross	$ 69,715	$ 55,862	$ 65,886
Percentage of trade debt	100.00%	100.00%	100.00%
Subtotal [Member]
Disclosure of major customers [abstract]
Revenue from external customers	$ 155,417	$ 177,208	$ 186,438
Percentage of total revenue	35.00%	44.00%	51.00%
Trade receivables gross	$ 18,352	$ 16,551	$ 33,528
Percentage of trade debt	26.00%	30.00%	51.00%
Client 1 [Member]
Disclosure of major customers [abstract]
Revenue from external customers	$ 51,991	$ 64,937	$ 74,835
Percentage of total revenue	12.00%	16.00%	20.00%
Trade receivables gross	$ 6,169	$ 7,425	$ 10,770
Percentage of trade debt	9.00%	13.00%	16.00%
Client 2 [Member]
Disclosure of major customers [abstract]
Revenue from external customers	$ 55,181	$ 73,743	$ 67,094
Percentage of total revenue	12.00%	18.00%	18.00%
Trade receivables gross	$ 7,247	$ 114	$ 13,716
Percentage of trade debt	10.00%	0.00%	21.00%
Client 3 [Member]
Disclosure of major customers [abstract]
Revenue from external customers	$ 48,245	$ 38,528	$ 44,509
Percentage of total revenue	11.00%	10.00%	12.00%
Trade receivables gross	$ 4,936	$ 9,012	$ 9,042
Percentage of trade debt	7.00%	16.00%	14.00%
Other [Member]
Disclosure of major customers [abstract]
Revenue from external customers	$ 288,245	$ 227,927	$ 181,942
Percentage of total revenue	65.00%	56.00%	49.00%
Trade receivables gross	$ 51,363	$ 39,311	$ 32,358
Percentage of trade debt	74.00%	70.00%	49.00%

FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES - The Expected Credit Loss for Trade Receivables (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Credit loss for trade receivables [Abstract]
Expected credit loss rate	0.00%	0.00%
Gross carrying amount	$ 69,715	$ 55,862	$ 65,886
Lifetime expected credit loss	1,663	1,475
Individually impaired trade receivable	638	402
Total allowance for credit losses	$ 2,301	$ 1,877	$ 2,209
Not Overdue [Member]
Credit loss for trade receivables [Abstract]
Expected credit loss rate	0.00%	0.00%
Gross carrying amount	$ 65,090	$ 50,630
Lifetime expected credit loss	$ 4	$ 0
Due, 0 to 30 Days [Member]
Credit loss for trade receivables [Abstract]
Expected credit loss rate	0.00%	1.00%
Gross carrying amount	$ 1,933	$ 2,513
Lifetime expected credit loss	$ 6	$ 15
Due, 31 to 60 Days [Member]
Credit loss for trade receivables [Abstract]
Expected credit loss rate	1.00%	2.00%
Gross carrying amount	$ 192	$ 918
Lifetime expected credit loss	$ 1	$ 14
Due 61 to 90 Days [Member]
Credit loss for trade receivables [Abstract]
Expected credit loss rate	17.00%	11.00%
Gross carrying amount	$ 190	$ 138
Lifetime expected credit loss	$ 33	$ 15
Due 91 to 180 Days [Member]
Credit loss for trade receivables [Abstract]
Expected credit loss rate	25.00%	14.00%
Gross carrying amount	$ 300	$ 83
Lifetime expected credit loss	$ 74	$ 12
Due over 180 Days [Member]
Credit loss for trade receivables [Abstract]
Expected credit loss rate	77.00%	90.00%
Gross carrying amount	$ 2,010	$ 1,580
Lifetime expected credit loss	$ 1,545	$ 1,419

FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES - Individually Credit Impaired Balances (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES [Abstract]
Credit impaired trade receivables - Gross carrying amount	$ 2,142	$ 1,801
Expected credit loss allowance	(2,124)	(1,785)
Credit impaired trade receivables net	$ 18	$ 16

TRANSACTION WITH RELATED PARTIES (Details) - USD ($) $ in Thousands		12 Months Ended
	Nov. 02, 2020	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Balances and Transactions with Related Parties [Abstract]
Service delivery revenue		$ 1,164	$ 1,325	$ 1,429
Service delivery expense		509	610	220
Due from related parties		1,755	1,587
Due to related parties		4,275	5,739
Outstanding balances repaid		1,614		1,200
TRG Holdings, LLC [Member]
Balances and Transactions with Related Parties [Abstract]
Loan principal and interest due		$ 1,500
Interest rate		15.00%
Maturity date		August 7, 2020
Outstanding balances repaid	$ 1,600
Related Entity [Member] \| BPO Solutions, Inc [Member]
Balances and Transactions with Related Parties [Abstract]
Service delivery revenue		$ 0	0
Service delivery expense		0	0
Due from related parties		0	0
Due to related parties		3,610	3,611
Related Entity [Member] \| Alert Communications, Inc. [Member]
Balances and Transactions with Related Parties [Abstract]
Service delivery revenue		113	164	150
Service delivery expense		0	0	0
Due from related parties		696	534
Due to related parties		0	0
Related Entity [Member] \| TRG Marketing Services, Inc. [Member]
Balances and Transactions with Related Parties [Abstract]
Service delivery revenue		0	0
Service delivery expense		0	0
Due from related parties		19	19
Due to related parties		0	0
Related Entity [Member] \| Afiniti International Holdings Limited [Member]
Balances and Transactions with Related Parties [Abstract]
Service delivery revenue		56	53	54
Service delivery expense		27	48	70
Due from related parties		0	0
Due to related parties		168	198
Related Entity [Member] \| TRG Holdings, LLC [Member]
Balances and Transactions with Related Parties [Abstract]
Service delivery revenue		0	0
Service delivery expense		0	0
Due from related parties		0	0
Due to related parties		122	1,708
Related Entity [Member] \| Third Party Lessor [Member]
Balances and Transactions with Related Parties [Abstract]
Service delivery revenue		201	310	342
Service delivery expense		405	489	77
Due from related parties		87	147
Due to related parties		97	9
Related Entity [Member] \| 3rd Party Client and Internet Services Provider [Member]
Balances and Transactions with Related Parties [Abstract]
Service delivery revenue		679	764	883
Service delivery expense		77	73	$ 73
Due from related parties		638	402
Due to related parties		278	179
Related Entity [Member] \| TRG (Private) Limited [Member]
Balances and Transactions with Related Parties [Abstract]
Service delivery revenue		0	0
Service delivery expense		0	0
Due from related parties		121	0
Due to related parties		0	34
Related Entity [Member] \| Etelequote [Member]
Balances and Transactions with Related Parties [Abstract]
Service delivery revenue		115	34
Service delivery expense		0	0
Due from related parties		18	310
Due to related parties		0	0
Parent [member] \| TRGI [Member]
Balances and Transactions with Related Parties [Abstract]
Service delivery revenue		0	0
Service delivery expense		0	0
Due from related parties		163	163
Due to related parties		0	0
Officers [Member] \| IBEX Limited Executive Leadership [Member]
Balances and Transactions with Related Parties [Abstract]
Service delivery revenue		0	0
Service delivery expense		0	0
Due from related parties		13	12
Due to related parties		$ 0	$ 0

TRANSACTION WITH RELATED PARTIES, Related Party Loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2019	Jun. 30, 2018
Related party loans [Abstract]
Loan payment	$ 1,614	$ 1,200
Related Entity [Member] \| TRGI [Member] \| Convertible Loan Note [Member]
Related party loans [Abstract]
Minimum external funding in subsidiary	3,000
Loan disbursements	$ 0		$ 0
Loan payment		$ 1,200

CAPITAL RISK MANAGEMENT (Details) $ in Millions	1 Months Ended	12 Months Ended
CAPITAL RISK MANAGEMENT (Details) $ in Millions	Jun. 30, 2021 USD ($)	Jun. 30, 2021 USD ($) subsidiary	Dec. 31, 2020 USD ($)	Jul. 31, 2020 USD ($)	Jun. 30, 2020 USD ($)
Capital risk management [Abstract]
Amount of deferred payment of Social Security	$ 1.1	$ 1.1			$ 1.8
U S Based Subsidiaries [Member]
Capital risk management [Abstract]
Number of subsidiaries that deferred payment of Social Security \| subsidiary		1
Amount of cash outflow for deferred social security payment made	0.7		$ 4.4
Amount of deferred payment of Social Security	3.7	$ 3.7			1.8
U S Based Subsidiaries [Member] \| Financial Year 2022 [Member]
Capital risk management [Abstract]
Repayment of Deferred Payment of Social Security	$ 2.6	$ 2.6
U S Based Subsidiaries [Member] \| Financial Year 2023 [Member]
Capital risk management [Abstract]
Repayment of Deferred Payment of Social Security					$ 1.1
Pakistan [Member]
Capital risk management [Abstract]
Loans received				$ 1.7
Period of employee wages and salaries to be funded with loans		3 months
Term of loan		2 years

SEGMENT INFORMATION (Details) - segment	12 Months Ended
SEGMENT INFORMATION (Details) - segment	Jun. 30, 2020	Jun. 30, 2019
Operating Segments [Abstract]
Number of operating segments	1	2

SEGMENT INFORMATION - Revenue from Contract with Customers (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Revenue from Contracts with Customers [Abstract]
Percentage of revenue	100.00%	100.00%	100.00%
Revenue from continuing operations	$ 443,662	$ 405,135	$ 368,380
Revenue	443,662	405,135	368,380
Revenue from discontinued operations			64,740
Deferred Revenue Movement [Abstract]
Opening balance	3,904	5,141
Revenue recognized during the year	(5,416)	(6,128)
Revenue deferred during the year	8,599	4,891
Closing balance	7,087	3,904	5,141
Deferred Revenue expected to be recognized [Abstract]
FY2022	4,077
FY2023	2,300
FY2024	663
FY2025	47
Deferred revenue	7,087	3,904	5,141
Services Transferred at a Point in Time [Member]
Revenue from Contracts with Customers [Abstract]
Revenue	40,775	48,486	52,897
Services Transferred Over Time [Member]
Revenue from Contracts with Customers [Abstract]
Revenue	$ 402,887	356,649	315,483
Bottom of Range [Member]
Revenue from Contracts with Customers [Abstract]
Percentage of revenue	97.00%
United States of America [Member]
Revenue from Contracts with Customers [Abstract]
Revenue from continuing operations	$ 428,831	391,933	361,078
Revenue from discontinued operations	0	0	64,740
Others [Member]
Revenue from Contracts with Customers [Abstract]
Revenue from continuing operations	$ 14,831	$ 13,202	$ 7,302

SEGMENT INFORMATION - Non-current Assets by Location (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Non-current Assets [Abstract]
Non-current assets	$ 128,661	$ 106,977
United States of America [Member]
Non-current Assets [Abstract]
Non-current assets	28,668	32,482
Others [Member]
Non-current Assets [Abstract]
Non-current assets	$ 99,993	$ 74,495

PAYROLL AND RELATED COSTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Employee benefits [Abstract]
Salaries and other employee costs	$ 247,926	$ 228,818	$ 216,617
Social security and other taxes	47,874	46,480	37,333
Retirement - contribution plan	771	823	513
Pensions - defined benefit scheme	228	134	129
Total payroll and related costs	296,799	276,255	254,592
Payroll and related costs from discontinued operations		0	22,182
Remuneration of key management personnel [Abstract]
Salaries and other employee costs	5,293	5,524	4,129
Share - based payments	1,671	214	2,167
Total remuneration of key management personnel	$ 6,964	5,738	6,296
Re-presented [Member]
Remuneration of key management personnel [Abstract]
Salaries and other employee costs		5,300	3,600
Share - based payments			1,400
Total remuneration of key management personnel		$ 5,500	$ 5,000

OTHER OPERATING COSTS (Details) - USD ($) $ in Thousands	12 Months Ended
OTHER OPERATING COSTS (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
OTHER OPERATING COSTS [Abstract]
Rent and utilities	$ 8,462	$ 7,802	$ 6,272
Communication	7,497	7,519	7,546
Maintenance, repairs and improvements	22,647	18,107	13,765
Traveling and entertainment	1,679	7,972	6,353
Local transportation	13,768	3,977	2,216
Insurance	4,837	1,516	1,731
Legal and professional expenses	10,618	6,652	9,241
Allowance for expected credit loss	291	224	237
Others	7,066	10,301	7,127
Other Operating Costs	76,865	64,070	54,488
Other Operating costs from discontinued operations	0	0	3,241
Local transportation expenses related to covid 19	9,200
Non-recurring legal expenses	$ 900		$ 4,200

WARRANT (Details) $ / shares in Units, $ in Thousands		1 Months Ended	12 Months Ended
WARRANT (Details) $ / shares in Units, $ in Thousands	Aug. 07, 2020 $ / shares shares	Dec. 31, 2020 $ / shares shares	Jun. 30, 2021 USD ($) Y $ / shares shares	Jun. 30, 2020 USD ($) shares
Warrant [Abstract]
Weighted-average expected life (in years) \| Y			6
Average volatility			31.80%
Expected average dividend yield			0.00%
Average risk-free rate for options granted			1.20%
Estimated fair value of common shares in share-based payment arrangement \| $ / shares			$ 19.52
Warrants cancelled or expired (in shares)			0	0
Number of warrants vested during period			502,205	288,748
Fair value of warrant liability \| $			$ 13,600	$ 3,900
Warrant asset noncurrent and current \| $			2,100
Warrant asset \| $			1,420	2,611
Revenue reduction due to amortization of warrant asset \| $			$ 800	$ 700
Series B and C Convertible Stock [Member]
Warrant [Abstract]
Number of warrants issued to purchase shares (in shares)	1,443,740
Warrant vesting period			7 years 6 months
Exercise price of warrants (in dollars per share) \| $ / shares	$ 9.42
Common Shares [Member]
Warrant [Abstract]
Number of shares converted	1,674,017		14,119,384
Amazon [Member]
Warrant [Abstract]
Warrant term		10 years
Percentage of equity issued as warrant		10.00%
Exercise price of warrants (in dollars per share) \| $ / shares		$ 11.20
Amazon [Member] \| Series B Convertible Preference Shares [Member]
Warrant [Abstract]
Number of warrants issued to purchase shares (in shares)		1,429,303
Amazon [Member] \| Series C Convertible Preference Shares [Member]
Warrant [Abstract]
Number of warrants issued to purchase shares (in shares)		14,437.4049
Amazon [Member] \| Series B and C Convertible Stock [Member]
Warrant [Abstract]
Number of warrants issued to purchase shares (in shares)		1,443,740
Amazon [Member] \| Common Shares [Member]
Warrant [Abstract]
Number of shares converted		1,674,017

RECONCILIATION OF PROFIT / LOSS BEFORE TAXATION (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
RECONCILIATION OF PROFIT / LOSS BEFORE TAXATION [Abstract]
Net income for the year	$ 2,847	$ 7,770	$ 10,965
Income tax expense from continuing operations	1,918	2,315	3,615
Income tax expense from discontinued operations	0	0	4,830
Total income before taxation	$ 4,765	$ 10,085	$ 19,410

- Definition

The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]

+ References + Details

- Definition

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

+ Details

HOLDING COMPANY INDIRECT SUBSIDIARIES - Indirect Subsidiaries of Holding Company (Details)	1 Months Ended	12 Months Ended
	Apr. 30, 2017	Jun. 30, 2021	Jun. 30, 2020
IBEX [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary		IBEX Global Limited
Location		Bermuda
Nature of business		Holding Company
Ownership interest	100.00%	100.00%	100.00%
IBEX Global Solutions Limited [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary		IBEX Global Solutions Limited
Location		England
Nature of business		Holding company
Ownership interest		100.00%	100.00%
IBEX Global Bermuda Limited [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary		IBEX Global Limited
Location		Bermuda
Nature of business		Holding company
Ownership interest		100.00%	100.00%
Lovercius Consultants Limited [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary		Lovercius Consultants Limited
Location		Cyprus
Nature of business		Call center
Ownership interest		100.00%	100.00%
IBEX Global Europe [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary		IBEX Global Europe
Location		Luxembourg
Nature of business		Tech support services
Ownership interest		100.00%	100.00%
IBEX Global ROHQ [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary		IBEX Global ROHQ
Location		Philippines
Nature of business		Regional HQ
Ownership interest		100.00%	100.00%
Ibex Global Solutions, Inc. [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary		IBEX Global Solutions, Inc. (formerly TRG Customer Solutions, Inc.)
Location		USA
Nature of business		Call center
Ownership interest		100.00%	100.00%
TRG Customer Solutions (Canada), Inc. [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary		TRG Customer Solutions (Canada), Inc.
Location		Canada
Nature of business		Call center
Ownership interest		100.00%	100.00%
TRG Marketing Solutions Limited [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary		TRG Marketing Solutions Limited
Location		England
Nature of business		Call center
Ownership interest		100.00%	100.00%
Virtual World (Private) Limited [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary		Virtual World (Private) Limited
Location		Pakistan
Nature of business		Call center
Ownership interest		100.00%	100.00%
IBEX Philippines, Inc. [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary		IBEX Philippines, Inc.
Location		Philippines
Nature of business		Call center
Ownership interest		100.00%	100.00%
IBEX Global Solutions (Philippines) Inc. [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary		IBEX Global Solutions (Philippines) Inc.
Location		Philippines
Nature of business		Call center
Ownership interest		100.00%	100.00%
TRG Customer Solutions (Philippines) Inc. [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary		TRG Customer Solutions (Philippines) Inc.
Location		Philippines
Nature of business		Call center
Ownership interest		100.00%	100.00%
IBEX Customer Solutions Senegal S.A. (formerly TRG Senegal SA.
Disclosure of subsidiaries [abstract]
Name of subsidiary		IBEX Customer Solutions Senegal S.A. (formerly TRG Senegal SA)
Location		Senegal
Nature of business		Call center
Ownership interest		100.00%	100.00%
IBEX Global Solutions (Private) Limited [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary		IBEX Global Solutions (Private) Limited
Location		Pakistan
Nature of business		Call center
Ownership interest		100.00%	100.00%
IBEX Global MENA FZE [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary		IBEX Global MENA FZE
Location		Dubai
Nature of business		Call center
Ownership interest		100.00%	100.00%
IBEX Global Bermuda Ltd [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary		IBEX Global Bermuda Ltd
Location		Bermuda
Nature of business		Call center
Ownership interest		100.00%	100.00%
IBEX Global Solutions Nicaragua SA [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary		IBEX Global Solutions Nicaragua SA
Location		Nicaragua
Nature of business		Call center
Ownership interest		100.00%	100.00%
IBEX Global St. Lucia Limited [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary		IBEX Global St. Lucia Limited
Location		St. Lucia
Nature of business		Holding company
Ownership interest		100.00%	100.00%
IBEX Global Jamaica Limited [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary		IBEX Global Jamaica Limited
Location		Jamaica
Nature of business		Call center
Ownership interest		100.00%	100.00%
IBEX Receivable Solutions, Inc. [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary		IBEX Receivable Solutions, Inc
Location		USA
Nature of business		Call center
Ownership interest		100.00%	0.00%
IBEX Global Solutions France SARL [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary		IBEX Global Solutions France SARL
Location		France
Nature of business		Call center
Ownership interest		100.00%	100.00%
IBEX Global Solutions Holding Inc. [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary		IBEX Global Solutions Holding Inc.
Location		USA
Nature of business		Holding company
Ownership interest		100.00%	0.00%
Digital Globe Services, LLC [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary		Digital Globe Services, LLC
Location		USA
Nature of business		Internet marketing for residential cable services
Ownership interest		100.00%	0.00%
Telsat Online, LLC [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary		Telsat Online, LLC
Location		USA
Nature of business		Internet marketing for non - cable telco services
Ownership interest		100.00%	0.00%
7 Degrees LLC [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary		7 Degrees LLC
Location		USA
Nature of business		Digital marketing agency
Ownership interest		100.00%	0.00%
DGS [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary		DGS Limited
Location		Bermuda
Nature of business		Holding Company
Ownership interest	100.00%	100.00%	100.00%
Digital Globe Services, Inc. [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary		Digital Globe Services, Inc
Location		USA
Nature of business		Internet marketing for residential cable services
Ownership interest		0.00%	100.00%
TelSatOnline, Inc. [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary		Telsat Online, Inc.
Location		USA
Nature of business		Internet marketing for non - cable telco services
Ownership interest		0.00%	100.00%
DGS Worldwide Marketing Limited [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary		DGS Worldwide Marketing Limited
Location		Cyprus
Nature of business		Holding company and global marketing
Ownership interest		100.00%	100.00%
DGS (Pvt.) Limited [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary		DGS (Pvt.) Limited
Location		Pakistan
Nature of business		Call center and support services
Ownership interest		100.00%	100.00%
7 Degrees LLC [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary		7 Degrees LLC
Location		USA
Nature of business		Digital marketing agency
Ownership interest		0.00%	100.00%

HOLDING COMPANY INDIRECT SUBSIDIARIES - Joint Venture Entity of Holding Company (Details) - Lake Ball LLC [Member]		12 Months Ended
	Jan. 01, 2016	Jun. 30, 2021	Jun. 30, 2020
Nature of business and ownership percentage [Abstract]
Name of joint venture		Lakeball LLC (Note 7)
Location		USA
Nature of business		Internet Marketing for commercial cable services
Ownership interest	47.50%	47.50%	47.50%

HOLDING COMPANY INDIRECT SUBSIDIARIES (Details) $ / shares in Units, $ in Millions			12 Months Ended
	Jun. 26, 2019 USD ($) $ / shares shares	Feb. 01, 2019 USD ($)	Jun. 30, 2021 USD ($) $ / shares	Jun. 30, 2020 USD ($)
Disclosure of subsidiaries [abstract]
Par value per share (in dollars per share) \| $ / shares			$ 0.0001
Series C Convertible Preference Shares [Member]
Disclosure of subsidiaries [abstract]
Ordinary shares transferred to majority shareholder (in shares) \| shares	7,813,493
Par value per share (in dollars per share) \| $ / shares	$ 0.0001
Aggregate preference amount waived off	$ 47.9			$ 47.9
Proceeds from sale of assets upon a voluntary or involuntary liquidation, dissolution or winding up	86.2			$ 86.2
Amount to be received in preference under voluntary or involuntary liquidation, dissolution or winding up	$ 38.3
Digital Globe Services, Inc. [Member]
Disclosure of subsidiaries [abstract]
Sales price of asset		$ 0.4
Percentage of sale proceeds paid in cash		50.00%
Cash consideration received on sale of assets		$ (0.2)
Gain on sale of assets			$ 0.2
Promissory note maturity date			Feb. 29, 2020
Promissory note compounded monthly interest rate			0.08
Percentage of receivables to be collected by purchaser			0.75
Transition service period			12 months

HOLDING COMPANY INDIRECT SUBSIDIARIES - Major Classes of Assets and Liabilities of Discontinued Operations (Details) $ in Thousands	Jun. 26, 2019 USD ($)
Assets [Abstract]
Property and equipment and Intangibles	$ 9,463
Renewal receivables	72,183
Trade and other receivables	1,129
Cash and cash equivalents	3,554
Total assets	86,329
Liabilities [Abstract]
Borrowings & Financing	43,431
Trade and other payables	9,977
Other Liabilities	5,327
Total liabilities	58,735
Net Assets	$ 27,594

HOLDING COMPANY INDIRECT SUBSIDIARIES - Result of Discontinued Operations (Details) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Result of discontinued operations [Abstract]
Revenue			$ 64,740,000
Other operating income			2,923,000
Payroll and related costs		$ 0	22,182,000
Share-based payments			875,000
Reseller commission and lead expenses			14,467,000
Depreciation and amortization			910,000
Other operating costs	$ 0	0	3,241,000
Income from operations			25,988,000
Finance expenses	0	0	(5,674,000)
Income before taxation			20,314,000
Income tax expense	0	0	(4,830,000)
Net income for the period from discontinued operations, net of tax	0	0	15,484,000
Discontinued operation - Cash flow [Abstract]
Operating activities			(13,396,000)
Investing activities			(867,000)
Financing activities			12,720,000
Net cash flow from discontinued operations			(1,543,000)
Earnings per share of discontinued operations [Abstract]
Income/loss attributable to ordinary shareholders assessed	$ 2,847,000	7,770,000	10,965,000
Share-based payments [Abstract]
Repurchased RSAs related to non-executive leadership team		100,000
Promissory note cancelled amount		$ 13,000
Series A B and C Convertible Preference Shares [Member]
Earnings per share of discontinued operations [Abstract]
Income/loss attributable to ordinary shareholders assessed			$ 0	$ 0

FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES - The Contractual Maturities (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Assets liabilities contractual maturity [Abstract]
Minimum period to meet expected requirement for maintaining cash balance	45 days
Cash generated from operations	$ 40,600	$ 63,300
Financial assets, contractual maturity	131,955	81,243
Financial liabilities, contractual maturity	168,964	167,276
Net assets (liabilities), contractual maturity	(37,009)	(86,033)
Less Than 1 Year [Member]
Assets liabilities contractual maturity [Abstract]
Financial assets, contractual maturity	128,240	78,156
Financial liabilities, contractual maturity	72,568	78,690
Net assets (liabilities), contractual maturity	55,672	(534)
1 - 3 Years [Member]
Assets liabilities contractual maturity [Abstract]
Financial assets, contractual maturity	3,715	3,087
Financial liabilities, contractual maturity	34,666	33,756
Net assets (liabilities), contractual maturity	(30,951)	(30,669)
4 - 5 Years [Member]
Assets liabilities contractual maturity [Abstract]
Financial assets, contractual maturity	0	0
Financial liabilities, contractual maturity	61,730	54,830
Net assets (liabilities), contractual maturity	(61,730)	(54,830)
Lease liabilities [Member]
Assets liabilities contractual maturity [Abstract]
Financial liabilities, contractual maturity	112,885	103,309
Lease liabilities [Member] \| Less Than 1 Year [Member]
Assets liabilities contractual maturity [Abstract]
Financial liabilities, contractual maturity	18,344	18,717
Lease liabilities [Member] \| 1 - 3 Years [Member]
Assets liabilities contractual maturity [Abstract]
Financial liabilities, contractual maturity	32,811	29,762
Lease liabilities [Member] \| 4 - 5 Years [Member]
Assets liabilities contractual maturity [Abstract]
Financial liabilities, contractual maturity	61,730	54,830
Long Term Other Borrowings [Member]
Assets liabilities contractual maturity [Abstract]
Financial liabilities, contractual maturity	6,481	10,462
Long Term Other Borrowings [Member] \| Less Than 1 Year [Member]
Assets liabilities contractual maturity [Abstract]
Financial liabilities, contractual maturity	4,626	6,468
Long Term Other Borrowings [Member] \| 1 - 3 Years [Member]
Assets liabilities contractual maturity [Abstract]
Financial liabilities, contractual maturity	1,855	3,994
Long Term Other Borrowings [Member] \| 4 - 5 Years [Member]
Assets liabilities contractual maturity [Abstract]
Financial liabilities, contractual maturity	0	0
Non-revolving Line of Credit [Member]
Assets liabilities contractual maturity [Abstract]
Financial liabilities, contractual maturity	22,312	21,475
Non-revolving Line of Credit [Member] \| Less Than 1 Year [Member]
Assets liabilities contractual maturity [Abstract]
Financial liabilities, contractual maturity	22,312	21,475
Non-revolving Line of Credit [Member] \| 1 - 3 Years [Member]
Assets liabilities contractual maturity [Abstract]
Financial liabilities, contractual maturity	0	0
Non-revolving Line of Credit [Member] \| 4 - 5 Years [Member]
Assets liabilities contractual maturity [Abstract]
Financial liabilities, contractual maturity	0	0
Trade and Other Payables [Member]
Assets liabilities contractual maturity [Abstract]
Financial liabilities, contractual maturity	23,011	26,291
Trade and Other Payables [Member] \| Less Than 1 Year [Member]
Assets liabilities contractual maturity [Abstract]
Financial liabilities, contractual maturity	23,011	26,291
Trade and Other Payables [Member] \| 1 - 3 Years [Member]
Assets liabilities contractual maturity [Abstract]
Financial liabilities, contractual maturity	0	0
Trade and Other Payables [Member] \| 4 - 5 Years [Member]
Assets liabilities contractual maturity [Abstract]
Financial liabilities, contractual maturity	0	0
Due to Related Parties [Member]
Assets liabilities contractual maturity [Abstract]
Financial liabilities, contractual maturity	4,275	5,739
Due to Related Parties [Member] \| Less Than 1 Year [Member]
Assets liabilities contractual maturity [Abstract]
Financial liabilities, contractual maturity	4,275	5,739
Due to Related Parties [Member] \| 1 - 3 Years [Member]
Assets liabilities contractual maturity [Abstract]
Financial liabilities, contractual maturity	0	0
Due to Related Parties [Member] \| 4 - 5 Years [Member]
Assets liabilities contractual maturity [Abstract]
Financial liabilities, contractual maturity	0	0
Deposits [Member]
Assets liabilities contractual maturity [Abstract]
Financial assets, contractual maturity	4,446	3,427
Deposits [Member] \| Less Than 1 Year [Member]
Assets liabilities contractual maturity [Abstract]
Financial assets, contractual maturity	731	340
Deposits [Member] \| 1 - 3 Years [Member]
Assets liabilities contractual maturity [Abstract]
Financial assets, contractual maturity	3,715	3,087
Deposits [Member] \| 4 - 5 Years [Member]
Assets liabilities contractual maturity [Abstract]
Financial assets, contractual maturity	0	0
Trade Receivables [Member]
Assets liabilities contractual maturity [Abstract]
Financial assets, contractual maturity	66,689	53,436
Trade Receivables [Member] \| Less Than 1 Year [Member]
Assets liabilities contractual maturity [Abstract]
Financial assets, contractual maturity	66,689	53,436
Trade Receivables [Member] \| 1 - 3 Years [Member]
Assets liabilities contractual maturity [Abstract]
Financial assets, contractual maturity	0	0
Trade Receivables [Member] \| 4 - 5 Years [Member]
Assets liabilities contractual maturity [Abstract]
Financial assets, contractual maturity	0	0
Other Receivables [Member]
Assets liabilities contractual maturity [Abstract]
Financial assets, contractual maturity	1,223	923
Other Receivables [Member] \| Less Than 1 Year [Member]
Assets liabilities contractual maturity [Abstract]
Financial assets, contractual maturity	1,223	923
Other Receivables [Member] \| 1 - 3 Years [Member]
Assets liabilities contractual maturity [Abstract]
Financial assets, contractual maturity	0	0
Other Receivables [Member] \| 4 - 5 Years [Member]
Assets liabilities contractual maturity [Abstract]
Financial assets, contractual maturity	0	0
Due from Related Parties [Member]
Assets liabilities contractual maturity [Abstract]
Financial assets, contractual maturity	1,755	1,587
Due from Related Parties [Member] \| Less Than 1 Year [Member]
Assets liabilities contractual maturity [Abstract]
Financial assets, contractual maturity	1,755	1,587
Due from Related Parties [Member] \| 1 - 3 Years [Member]
Assets liabilities contractual maturity [Abstract]
Financial assets, contractual maturity	0	0
Due from Related Parties [Member] \| 4 - 5 Years [Member]
Assets liabilities contractual maturity [Abstract]
Financial assets, contractual maturity	0	0
Cash and Cash Equivalents [Member]
Assets liabilities contractual maturity [Abstract]
Financial assets, contractual maturity	57,842	21,870
Cash and Cash Equivalents [Member] \| Less Than 1 Year [Member]
Assets liabilities contractual maturity [Abstract]
Financial assets, contractual maturity	57,842	21,870
Cash and Cash Equivalents [Member] \| 1 - 3 Years [Member]
Assets liabilities contractual maturity [Abstract]
Financial assets, contractual maturity	0	0
Cash and Cash Equivalents [Member] \| 4 - 5 Years [Member]
Assets liabilities contractual maturity [Abstract]
Financial assets, contractual maturity	$ 0	$ 0