SHARE BASED COMPENSATION (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
|---|
| Share-Based Payment Arrangement [Abstract] |
|
| SCHEDULE OF ROLL FORWARD OF CONTINGENT SHARES |
The
following table presents a roll forward of Contingent Shares for the six months ended June 30, 2026 and June 30, 2025:
SCHEDULE
OF ROLL FORWARD OF CONTINGENT SHARES
| Balance as of January 1, 2025 | |
| 1,974,208 | |
|
|
Intrinsic value £ |
|
| Granted | |
| 44,100 | |
|
|
- |
|
| Cancelled | |
| - | |
|
|
|
|
| Reversed | |
| (30,271 | ) |
|
|
|
|
| Redeemed | |
| (2,054 | ) |
|
|
|
|
| Balance as of June 30, 2025 | |
| 1,985,983 | |
|
|
43,373,869 |
|
| | |
| | |
|
|
|
|
| Balance as of December 31, 2025 | |
| 1,385,392 | |
|
|
- |
|
| Granted | |
| 77,018 | |
|
|
|
|
| Cancelled | |
| (219,069 | ) |
|
|
|
|
| Reversed | |
| (49,948 | ) |
|
|
|
|
| Redeemed | |
| (45 | ) |
|
|
|
|
| Balance as of June 30, 2026 | |
| 1,193,348 | |
|
|
7,937,953 |
|
|
| SCHEDULE OF EMPLOYEE SHARE OPTION ACTIVITY |
A
summary of the activity with respect to, and status of, share options during the periods ended June 30, 2026 is presented below:
SCHEDULE
OF EMPLOYEE SHARE OPTION ACTIVITY
| | |
Outstanding
Options | | |
Weighted
Average
Exercise Price
per Share (£) | | |
Weighted
Average
Remaining
Contractual
Term | | |
Weighted
Average
Remaining
Vesting Term | | |
Aggregate
Intrinsic Value
(£) | |
| Outstanding December 31, 2025 | |
| 240,786 | | |
| 7.68 | | |
| 7.85 | | |
| 0.68 | | |
| 15,135,808 | |
| Granted | |
| 8,312 | | |
| 14.69 | | |
| | | |
| | | |
| | |
| Outstanding June 30, 2026 | |
| 249,098 | | |
| 7.91 | | |
| 6.37 | | |
| 3.13 | | |
| 1,656,959 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Exercisable as of December 31, 2025 | |
| 193,559 | | |
| 7.68 | | |
| 7.85 | | |
| - | | |
| 12,167,119 | |
| Unvested as of June 30, 2026 | |
| 249,098 | | |
| 7.91 | | |
| 6.37 | | |
| 3.13 | | |
| 1,656,959 | |
| | |
Outstanding
Options | | |
Weighted
Average
Exercise Price
per Share (£) | | |
Weighted
Average
Remaining
Contractual
Term | | |
Weighted
Average
Remaining
Vesting Term | | |
Aggregate
Intrinsic Value
(£) | |
| Outstanding December 31, 2025 | |
| 863,784 | | |
| 3.66 | | |
| 4.51 | | |
| - | | |
| 57,769,864 | |
| Granted | |
| - | | |
| | | |
| | | |
| | | |
| | |
| Outstanding June 30, 2026 | |
| 863,784 | | |
| 3.66 | | |
| 4.01 | | |
| - | | |
| 57,769,864 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Exercisable as of December 31, 2025 | |
| 863,784 | | |
| 3.66 | | |
| 4.51 | | |
| - | | |
| 57,769,864 | |
| Unvested as of June 30, 2026 | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
|
| SCHEDULE OF WEIGHTED-AVERAGE ASSUMPTIONS |
The
following weighted-average assumptions were used for grants issued during the six months ended June 30, 2026 under the ASC 718 requirements;
no grants were issued during the six months ended June 30, 2025 and therefore no comparative is presented.
SCHEDULE OF WEIGHTED-AVERAGE ASSUMPTIONS
| | |
June 30, 2026 | |
| Share price | |
£ | 42.99 | |
| Weighted average risk-free rate | |
| 3.81 | % |
| Weighted average volatilty | |
| 83.00 | % |
| Remaining term | |
| 6.86 | |
|
| SCHEDULE OF SHARE BASED COMPENSATION VALUATION MILESTONE |
Share-based
compensation expense recognized during the periods ended June 30, 2026 and 2025 related to the PIG Awards by valuation milestone was
as follows:
SCHEDULE OF SHARE BASED COMPENSATION VALUATION
MILESTONE
| Valuation Milestone (Millions) | | |
June 30, 2026 | |
| $ | 500 | | |
£ | - | |
| $ | 1,000 | | |
| - | |
| $ | 2,000 | | |
| - | |
| $ | 5,000 | | |
| - | |
| $ | 10,000 | | |
| 11,848 | |
| $ | 1,000,000 | | |
| - | |
| | | | |
£ | 11,848 | |
|
| SCHEDULE OF SHARE-BASED COMPENSATION EXPENSE RELATING TO PERFORMANCE INCENTIVE GRANTS |
For
the periods ended June 30, 2026 and 2025, the Company recorded the following share-based compensation expense relating to performance
incentive grants, share options and contingent shares:
SCHEDULE OF SHARE-BASED COMPENSATION EXPENSE RELATING TO
PERFORMANCE INCENTIVE GRANTS
| | |
June 30 | |
| | |
2026 | | |
2025 | |
| ShareBack program | |
£ | 84,020 | | |
£ | 333,117 | |
| Employee Share Option Plan | |
| 133,679 | | |
| 489 | |
| Director options | |
| - | | |
| - | |
| Performance incentive grants | |
| 11,848 | | |
| - | |
| Total share-based compensation expense | |
£ | 229,547 | | |
£ | 333,606 | |
| Share-based compensation expense | |
| 229,547 | | |
| 333,606 | |
|