Share Capital and Share Premium

6 Months Ended

Jun. 30, 2026

Disclosure Of Classes Of Share Capital [Abstract]

capital and share premium


	June 30, 2026		December 31, 2025
	(in thousands)
	£		£
Share capital		14,343		14,340
Share premium		175,314		175,246

		189,657		189,586


	Number (in thousands)
	Nominal value £0.000004		Nominal value £0.0004
Issued share capital comprises:
Ordinary shares		21,547,775		20,809,855
Deferred shares		3,564,222,220		15,040,466

		3,585,769,995		35,850,321


	Number of ordinary shares		Number of deferred shares		Ordinary share capital			Deferred share capital		Share premium
	(in thousands)
					£			£		£
Fully paid shares:
Balance at December 31, 2025		20,809,855		15,040,466		8,324			6,016		175,246
Subdivision and reclassification of share capital		—		3,549,181,754		(8,241	)		8,241		—
Issue of share capital		737,920		—		3			—		203
Share issue expenses		—		—		—			—		(135	)

Balance at June 30, 2026		21,547,775		3,564,222,220		86			14,257		175,314

On June 8, 2026, the Company subdivided and redesignated its issued share capital as follows:

•

Each of the 15,040,465,803 deferred shares of £0.0004 each in the issued share capital of the Company was

sub-divided

into 100 deferred shares of £0.000004 each; and

•

Each of the 20,809,854,947 ordinary shares of £0.0004 each in the issued share capital of

the

Company was

sub-divided

into and redesignated as one ordinary share of £0.000004, having the same rights and being subject to the same restrictions as the existing ordinary shares in the capital of the Company, and 99 deferred shares of £0.000004 each.

The Company’s issued share capital after the subdivision and reclassification was comprised of 20,809,854,947 ordinary shares and 3,564,222,220,053 deferred shares of £0.000004 each. The deferred shares continue to have no economic value, dividend or voting rights.

As at June 30, 2026, the Company had 4,307,855 ADSs listed on The Nasdaq Capital Market.