Share-based payments (Tables)

6 Months Ended

Jun. 30, 2025

Share-based payments

Schedule of share-based payment transactions


		June 30, 2025		June 30, 2024
		£’000		£’000
2021 Incentive plan		1,548		4,351
Enterprise Management Initiative		65		260
Non-Executive Director awards		1,594		174
		3,207		4,785

2021 Incentive Plan

Share-based payments

Schedule of movements in outstanding share options and weighted average exercise prices


		June 30, 2025				December 31, 2024
				Average				Average
2021 Incentive Plan				exercise price				exercise price
		Number		(£)		Number		(£)
Outstanding, start of period		1,171,210		0.91		998,598		1.20
Granted during the period		2,252,530		0.09		397,803		0.40
Exercised during the period		(61,524)		—		(128,369)		—
Forfeited during the period		(79,816)		1.27		(96,822)		2.97
Outstanding, end of period		3,282,400		0.35		1,171,210		0.91

Share-based payments

Schedule of movements in outstanding share options and weighted average exercise prices


		June 30, 2025				December 31, 2024
				Average				Average
EMI Scheme				exercise price				exercise price
		Number		(£)		Number		(£)
Outstanding, start of period		945,429		2.20		1,170,231		2.50
Granted during the period		—		—		—		—
Exercised during the period		(6,184)		1.80		—		—
Forfeited during the period		(42,621)		11.00		(224,802)		3.80
Outstanding, end of period		896,624		1.80		945,429		2.20