Approved share scheme
Certain employees have been granted options over unissued share capital of the company. The options expire ten years after the grant date.
The movements in the number of share options during the year were as follows:
Outstanding at beginning of year: nil (2023: nil)
Issued during the year: 3,300 (2023: nil)
Lapsed during the year: nil (2023: nil)
Outstanding at end of year: 3,300 (2023: nil)
The weighted average exercise price of share options issued during the year was £1.69 per share. The weighted average exercise price of all share options at the year end was £1.69 per share (2023 - nil).
No expense for share options has been recognised in the year on the grounds that the expense is immaterial.
Unapproved share scheme
Certain shareholders have been granted options over unissued share capital of the company. The options expire five years after the grant date.
The movements in the number of share options during the year were as follows:
Outstanding at beginning of year: 8,044 (2023: 7,668)
Issued during the year: 382 (2023: 376)
Lapsed during the year: nil (2023: nil)
Outstanding at end of year: 8,425 (2023: 8,044)
Options issued during the year relate to an increase in the number of options as a result of an overall increase in diluted share capital.
The weighted average exercise price of share options issued during the year was £6.75 per share. The weighted average exercise price of all share options at the year end was £6.75 per share (2023 - £6.75).