| The company operates an EMI-qualifying share option scheme for its employees. At the statement of financial position date, the company had granted 700,000 EMI qualifying share options (2023: 700,000) to employees with an average weighted exercise price of £0.00000005 per share. At the statement of financial position date 700,000 share options had vested (2023: 700,000), no share options had been exercised (2023: nil) and no share options had lapsed (2023: nil).
Approved share options vest on a monthly basis with the period ranging from the date of grant to 12 months. The share options are exercisable on the share capital of the company on the occurrence of a qualifying exit event. No share-based payment has been charged to the income statement in respect of the EMI-qualifying share options.
The company also operates an unapproved share option scheme for its contractors and advisory board. At the statement of financial position date, the company had granted 1,020,000 share options (2023:1,020,000) with an average weighted exercise price of £0.00000005 per share. As at the statement of financial position date 1,020,000 share options had vested (2023: 1,020,000), no share options had been exercised (2023: nil) and no share options had lapsed (2023: nil).
Unapproved share options vest on a monthly basis with the period ranging from the date of grant to 4 years. The share options are exercisable on the share capital of the company on the occurrence of a qualifying exit event. No share-based payment has been charged to the income statement in respect of the unapproved share options. |