The company operates a share option scheme for the benefit of its employees. Certain employees of the company have been granted options over the ordinary shares in the company. The options are granted with a fixed exercise price, are subject to vesting conditions and are subject to and in accordance with the rules of the company share option plans.
As the company is unable to directly measure the fair value of employee services received, it considers the use of a pricing model such as the Black Scholes Model as being appropriate to determine the fair value of the share options at grant date.
During the period, the company recognised total share based payment expenses of £5,181 (30 November 2021 : £4,277) which related to equity-settled share based payment transactions.
Outstanding number of share options at 1 December 2021 - 805
Number of share options granted in the period to 30 November 2022 - NIL
Number of share options lapsed in the period to 30 November 2022 - 170
Number of share options exercised in the period to 30 November 2022 - NIL
Outstanding number of share options at 30 November 2022 - 635
Of which were exercisable at 30 November 2022 - NIL