Share Structure

31 May 2021

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   Ordinary Shares Average Exercise Price Expiration
Issued Shares 572,495,785
Shares not in Public Hands 507,552,863
Free Float 64,942,922
Restricted Share Options (1) 23,400,000 £0.026 expire 2026/2028/2030
Potential Secured Financing Conversion (2) 221,118,369
Total Fully Diluted Shares (3) 817,014,154
  1. Restricted Share Options in issue do not have voting rights and therefore, are not included in voting shares on issue calculations.
  2. Potential Secured Financing Conversion As of 31 December 2021 the Company had £11,055,918 outstanding under the 2017 Secured Financing Facility, with an additional three tranches to be drawn down of up to £1 million each, maturing 31 December 2023, and convertible at the Lender’s option at 5 pence per share (and convertible at the Company’s option also at 5 pence per share). If converted at 31 December 2021, this would result in the issuance of an incremental 221,118,369 Ordinary Shares.
  3. Total Fully Diluted Shares are calculated as Issued Shares plus Total Restricted Share Options plus the Potential Secured Financing Conversion Shares.

In addition, on 17 September 2015, each of the Company’s existing Ordinary shares were subdivided into one Ordinary Share of 1 pence and one Deferred Share of 4.7142865 pence. Consequently, other than the Ordinary Shares referenced in the above table, there are in issue 121,989,500 Deferred Shares. The rights of both the Ordinary and the Deferred Shares are as set out in the Articles of Association as amended 14 September 2015 found on the Corporate Association documents page of this website

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