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 and growth 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 and consider the use of a model such as the Black Scholes Model as being in-appropriate due to many inputs (such as current share price, volatility and the like) not being ascertainable with any degree of accuracy, it determined the fair value of the share options at grant date using the valuation aspects of a simple tax based option scheme and as being equivalent to a small interest in the shares of the company.
During the period, the company recognised total share based payment expenses of £496 (2022 : £2,969) which related to equity-settled share based payment transactions.
Outstanding number of share options at 1 November 2022 - 864
Number of share options granted in the period to 31 October 2023 - NIL
Number of share options exercised in the period to 31 October 2023 - NIL
Number of share options lapsed in the period to 31 October 2023 - NIL
Outstanding number of share options at 31 October 2023 - 864
Of which were exercisable at 31 October 2023 - NIL