Alongside other majority shareholders, employees and directors, Heartland has entered into escrow restrictions prohibiting the disposal of its shareholding until the occurrence of certain events.
"Heartland will reassess the fair value of its equity investment in Harmoney as part of the preparation of its financial results for the six-month period ending 31 December 2020," the company said.
In determining fair value, Heartland would take into consideration the market value of Harmoney shares alongside a range of other relevant factors, including the escrow restrictions.
This may result in an increase in the "fair value" of the investment.
Heartland said its equity investment in Harmoney was not significant in the context of its total assets.
"However, any increase in the fair value of that investment would result in a one-off increase to Heartland's net profit after tax for the financial year ended 30 June 2021," it said.
"That increase has not been taken into account in Heartland's forecast net profit for 2021, which may accordingly need to be revised."
In September, Heartland announced a full-year net profit of $72 million.
The company said at the time that it expected its net profit for the June 2021 year to be in the range of $83m to $85m.
Harmoney yesterday gained a primary listing on the ASX and a "foreign exempt" listing on the NZX.
The stock closed in Australia at A$3.45 while Heartland finished on the NZX at $1.39.
