Ordinary shares

12 Months Ended

Dec. 31, 2019

Ordinary shares

Ordinary shares

8. Ordinary shares

Each holder of ordinary shares is entitled to one vote per ordinary share and to receive dividends when and if such dividends are recommended by the board of directors and declared by the shareholders. As of December 31, 2019 and 2018, the Company has not declared any dividends.

As of December 31, 2019 and 2018, the Company’s authorized capital share consisted of 31,995,653 and 15,452,420 ordinary shares, respectively, with a nominal value of £0.01 per share.