v3.25.4
Shareholders' Equity (Tables)
12 Months Ended
Dec. 31, 2025
Shareholders' Equity  
Schedule of Share capital

Number of shares 2025

Number of shares 2024

Number of shares 2023

  ​ ​ ​

Ordinary 

  ​ ​ ​

Ordinary 

  ​ ​ ​

Ordinary 

Balance at January 1

 

107,710,916

 

84,248,384

 

84,246,967

Issued for cash

 

 

23,463,610

 

Issued for services

Exercise of share options / vesting of RSUs

 

148,537

 

394,481

 

537,513

Treasury shares issued (transferred)

 

(148,537)

 

(395,559)

 

(536,096)

Balance at December 31

 

107,710,916

 

107,710,916

 

84,248,384

Schedule of fair value of options calculated using Black-Scholes option pricing model and weighted average assumptions utilized

  ​ ​ ​

Options granted 

  ​ ​ ​

Options granted 

  ​ ​ ​

Options granted 

 

in 2025

in 2024

in 2023

 

Risk-free interest rate

 

4.099

%  

3.903

%  

3.960

%  

Expected dividend yield

 

%  

%  

%  

Expected volatility

 

101.5

%  

96.5

%  

105.6

%  

Expected life in years

 

5

 years  

5

 years  

5

 years  

Schedule of Movements in the number of options outstanding and weighted average exercise prices

2025

2024

2023

  ​ ​ ​

Number of

  ​ ​ ​

Average

  ​ ​ ​

Number of

  ​ ​ ​

Average

  ​ ​ ​

Number of

  ​ ​ ​

Average

options  

exercise price  

options  

exercise price  

options  

exercise price  

Balance at January 1

 

11,671,792

3.38

 

11,186,240

3.10

 

11,279,210

3.66

Granted

 

4,852,997

1.77

 

1,377,780

1.94

 

1,793,449

2.76

Forfeited

 

(91,770)

1.62

 

(179,259)

1.61

 

(276,272)

4.62

Exercised

 

(99,317)

0.63

 

(300,036)

0.79

 

(337,746)

1.07

Expired

 

(267,397)

8.20

 

(412,933)

4.05

 

(1,272,401)

7.80

Balance at December 31

 

16,066,305

2.56

 

11,671,792

3.38

 

11,186,240

3.10

Exercisable at December 31

 

9,631,699

3.09

 

8,152,467

3.98

 

6,679,018

4.05

Schedule of movements in the number of RSUs outstanding

2025

2024

2023

  ​ ​ ​

Number of

  ​ ​ ​

Number of

  ​ ​ ​

Number of

RSUs

RSUs

RSUs

Balance at January 1

 

53,569

 

166,306

 

370,962

Granted

 

 

 

52,319

Forfeited

 

(64)

 

(17,775)

 

(66,881)

Released

 

(49,523)

 

(94,962)

 

(190,094)

Balance at December 31

 

3,982

 

53,569

 

166,306