v3.26.1
Shareholders' Equity
 3 Months Ended
Mar. 31, 2026
Equity [Abstract]  
Shareholders' Equity

11. Shareholders’ Equity

Ordinary Shares

 

 

Number of
ordinary shares

 

 

Par value
($'000)

 

At January 1, 2025

 

 

775,728,034

 

 

$

3,059

 

Vesting of RSUs

 

 

718,350

 

 

 

3

 

Conversion of convertible loan notes

 

 

17,105,450

 

 

 

64

 

Exercise of warrants

 

 

1,449,610

 

 

 

6

 

At March 31, 2025

 

 

795,001,444

 

 

$

3,132

 

 

 

 

 

 

 

 

At January 1, 2026

 

 

795,658,504

 

 

$

3,135

 

Vesting of RSUs

 

 

868,630

 

 

 

4

 

Exercise of warrants

 

 

1,551,695

 

 

 

6

 

At March 31, 2026

 

 

798,078,829

 

 

$

3,145

 

 

In February 2026, the Company received an exercise notice from The Alpha-1 Project and subsequently issued and allotted 1,551,695 shares (equivalent to 310,339 ADSs) on the non-cash exercise of the warrants. In addition, additional paid-in capital of $0.2 million was transferred to accumulated deficit, which represents the surplus of amounts previously recognized in excess of the par value of ordinary shares delivered on exercise of the warrants.

 

During the three months ended March 31, 2026, 868,630 ordinary shares were issued due to the vesting of RSUs.