At the commencement of the period, the company had both approved and unapproved share shemes in place these initial options vested over 38 months with a 12month cliff.
A further 2,250,00 options were granted during the year. These options either vest over 48 months with a 12 month cliff or are milestone based.
All such options will be equity-settled.
A summary of the movement in share options during the period is shown below.
Outstanding at the beginning of the period: 325,000
Granted during the period: 2,250,000
Forfeited during the period: Nil.
Exercised during the period: 685,715
Expired during the period: Nil.
Outstanding at the end of the period: 1,889,285
A charge of £118,583 has been recognised in the profit and loss to reflect the fair value of options vested in the year.