| The company operates an EMI qualifying share option scheme and during the year the company granted 313,269 (2023: 120,000) EMI qualifying share options to employees at an average weighted exercise price of £0.00001 per share (2023: £0.00001). During the year 20,418 share options vested (2023: 250,082), no options lapsed (2023: 98,542) and no options were exercised (2023: 51,458). At the statement of financial position date, 120,500 vested share options remained exercisable (2023: 100,082) and 422,769 options had yet to vest (2023: 129,918). An amount of £22,639 has been charged to the income statement in respect of the EMI qualifying share options (2023: £95,031).
The company also operates an unapproved share option scheme and during the year the company granted 477,473 (2023: 457,253) unapproved share options to contractors at an average weighted exercise price of £0.00001 per share (2023: £0.00001). During the year 269,184 share options vested (2023: 363,526), 170,440 lapsed (2023: 210,000) and no options were exercised (2023: nil). At the statement of financial position date, 252,270 vested share options remained exercisable (2023: 153,526) and 562,016 options had yet to vest (2023: 353,727). An amount of £45,457 has been charged to the income statement in respect of the EMI qualifying share options (2023: £107,740).
The share options generally vest over a 4 year period with a 1 year cliff and are exercisable over the company's Ordinary shares. |