.IE Annual Report 2022

Other financial investments represent the investment for the long term in conservative managed funds, diversified across multiple investment managers. The market value of the financial investments at 31 December 2022 was €5,762,432 (2021 – €4,630,060). In accordance with the accounting policy for other financial investments outlined in Note 2.9 the value of other financial investments is recorded at the market value. In 2022, the Board approved a series of recommendations from the Investment Committee. These included the appointment of an Investment Portfolio Discretionary Manager and the appointment of an Investment Adviser. The Board also approved the transfer of €7 million into a new fund to be managed by the new Discretionary Manager, comprised of the proceeds from the disposal of the previous investment funds and amounts previously held on Deposit. The initial transfer of €3.5 million was made in June 2022. The Board agreed to invest the remaining €3.5 million in three equal tranches at fixed dates every quarter. By 31 December, €5.83 million had been transferred for investment by the new Discretionary Manager. The remaining €1.17 million will be transferred for investment in March 2023. 10(b) Shares in subsidiary undertakings The company holds 100% of the share capital of the following company: Name of subsidiary Country of Registration or incorporation Shares held class Principal Activity IENUM Limited Ireland Ordinary and Preference ENUM Registry IENUM Limited is an Irish registered company with a registered office at 4th Floor, Harbour Square, Dun Laoghaire, Co. Dublin. The aggregate amount of capital and reserves and the results of this undertaking for the year ended 31 December 2022 were as follows: Capital andReserves Profit for the year € € IENUM Limited 50,100 Nil 10(c) Losses on Financial Investments Unlisted 2022 € Realised gain on sale of financial investments during the year 637,915 Release of 1 January accumulated unrealised gains on disposals in 2022 (676,345) Net realised accounting (loss) on sale of financial investments (38,430) Realised gain on sale of other financial investments 1,062 Total realised accounting (loss) on financial investments (37,368) Financial Statements .IE is the trading name of IE Domain Registry CLG / Annual Report & Review 2022 46 Notes to the Financial Statements (continued)