Share capital

12 Months Ended

Dec. 31, 2021

24.	Share capital

	December 31,
	2021		2020		2019
	£000s		£000s		£000s
Authorized, allotted, called up and fully paid ordinary shares, par value £0.05		4,489		4,165		3,919

	Number		Number		Number
Number of shares in issue		89,784,720		83,306,259		78,370,265

The Group has only one class of share. All ordinary shares have equal voting rights and rank pari passu for the distribution of dividends.

Details of the shares issued during the current and previous year are as follows:

Number of shares in issue at January 1, 2019			71,069,933
Shares issued during the year			5,062,167
Options exercised at £0.05			581,101
Options exercised at £0.25			728,078
Options exercised at £1.00			40,000
Options exercised at £1.06			23,986
Options exercised at £1.10			200,000
Options exercised at £1.12			5,000
Options exercised at £1.17			500,000
Options exercised at £1.25			160,000
Number of shares in issue at December 31, 2019			78,370,265
Shares issued during the year			4,276,580
Options exercised at £0.05			496,666
Options exercised at £0.85			56,470
Options exercised at £1.00			60,000
Options exercised at £1.90			46,278
Number of shares in issue at December 31, 2020			83,306,259
Shares issued during the year			6,066,654
Options exercised at £0.05			66,114
Options exercised at £0.85			121,854
Options exercised at £1.00			25,000
Options exercised at £1.28			720
Options exercised at £1.90			198,119
Number of shares in issue at December 31, 2021			89,784,720

At December 31, 2021, there were options outstanding of 8,052,699 (2020: 6,768,894; 2019: 4,302,617 ) unissued ordinary shares.

Details of the options outstanding are as follows:

Year of issue	Weighted average Exercise price (£)		Weighted average Exercise price ($)		At January 1, 2021		Options granted		Options forfeited			Options expired		Options exercised			At December 31, 2021		Weighted average years to expiry date
2013		1.06		1.43		10,000									(10,000	)		-		1.54
2014		1.06		1.43		21,000									(9,000	)		12,000		2.46
2015		1.06		1.43		16,000									(6,000	)		10,000		3.52
2016		1.21		1.64		60,215									(720	)		59,495		4.37
2017		1.77		2.38		171,500									(32,780	)		138,720		5.75
2018		0.05		0.07		223,766				(13,068	)							210,698		6.32
2019		1.20		1.62		3,109,337				(466,250	)				(353,307	)		2,289,780		7.73
2020		3.57		4.82		3,157,076				(37,007	)				-			3,120,069		7.91
2021		5.54		7.48				2,259,153		(47,216	)							2,211,937		9.28

Total						6,768,894		2,259,153		(563,541	)		-		(411,807	)		8,052,699		8.31

On November 29, 2021, the Company completed delisting from AIM. As a result, the Company converted the existing employee share options to ADSs which represents three ordinary shares and the exercise price was also converted to represent an ADS price at an exchange rate equal to the average of the last five business trading days currency conversion of sterling pounds to US dollars, which was 1.334058 sterling pounds to 1 US Dollar. This is not a modification of the existing share option grants, as the value or timing of the grants was unchanged.

The market price of Company shares at the year-end was $23.89/ADS ($7.96 or 590 pence/share). (2020: 514 pence; 2019: 350 pence). During the year the minimum and maximum prices were 443 pence and 680 pence, respectively (2020: 304 pence and 515 pence; 2019: 41 pence and 610 pence).