| Shareholders' equity |
9. Shareholders’ equity
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March 31, 2026 |
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December 31, 2025 |
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Authorized, allotted, called up and fully paid ordinary shares, par value
£0.05 |
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10,290 |
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10,290 |
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Number |
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Number |
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Number of shares in issue |
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141,703,840 |
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141,701,848 |
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Number of equivalent ADSs in issue |
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47,234,613 |
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47,233,949 |
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The Group has only one class of shares. All ordinary shares have equal voting rights and rank pari passu for the distribution of dividends. Details of the shares issued during the current three months and prior year are as follows:
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Number of shares in issue at January 1, 2025 |
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141,674,074 |
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Number of ADSs in issue at January 1, 2025 |
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47,224,691 |
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Shares issued during the year |
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Options exercised at $0.20/ADS or $0.07/ordinary share |
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17,775 |
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Options exercised at $4.23/ADS or $1.41/ordinary share |
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9,999 |
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Number of shares in issue at December 31, 2025 |
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141,701,848 |
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Number of equivalent ADSs in issue at December 31, 2025 |
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47,233,949 |
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Number of shares in issue at January 1, 2026 |
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141,701,848 |
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Number of ADSs in issue at January 1, 2026 |
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47,233,949 |
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Options exercised at $0.20/ADS or $0.07/ordinary share |
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1,992 |
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Number of shares in issue at March 31, 2026 |
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141,703,840 |
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Number of equivalent ADSs in issue at March 31, 2026 |
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47,234,613 |
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The Group has outstanding ADSs and each ADS represents three ordinary shares.
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