| | | | | | | | | 2026 | | 2025 | | 2024 | Loss for the year (£’000) | | (42,954) | | (33,023) | | (113,159) | Basic loss per share (pence) | | (24.91) | | (19.32) | | (68.44) | Diluted loss per share (pence)(1) | | (24.91) | | (19.32) | | (68.44) |
Basic loss per share is calculated by dividing the loss for the year by the weighted average number of ordinary shares in issue during the financial year. (ii) | Diluted loss per share |
Diluted loss per share is calculated by adjusting the weighted average number of ordinary shares in issue during the year to assume conversion of all dilutive potential ordinary shares. The Company has one category of dilutive potential ordinary shares: share awards pursuant to the 2012 Equity Incentive Plan (the “Equity Plan”). Share awards pursuant to the Equity Plan are assumed to have been converted into ordinary shares at the beginning of the financial year, or, if later, the date of issue of the potential ordinary shares. (iii) | Weighted average number of shares used as the denominator |
| | | | | | | | | 2026 | | 2025 | | 2024 | | | Number | | Number | | Number | | | ‘000 | | ‘000 | | ‘000 | Class A ordinary shares (2) | | 57,768 | | 57,225 | | 56,091 | Class B ordinary shares (2) | | 116,348 | | 115,389 | | 110,937 | Treasury shares | | (1,683) | | (1,683) | | (1,683) | Weighted average number of ordinary shares used as the denominator in calculating basic loss per share | | 172,433 | | 170,931 | | 165,345 | Adjustment for calculation of diluted loss per share assumed conversion into Class A ordinary shares(1) | | — | | — | | — | Weighted average number of ordinary shares and potential ordinary shares used as the denominator in calculating diluted loss per share(1) | | 172,433 | | 170,931 | | 165,345 |
| (1) | For the years ended 30 June 2026, 30 June 2025 and 30 June 2024, potential ordinary shares are anti-dilutive, as their inclusion in the diluted loss per share calculation would reduce the loss per share, and hence have been excluded. |
| (2) | The increase in Class A and Class B ordinary shares in 2026 and 2025 is a result of the transaction agreement with INEOS. See Note 22 for further detail. |
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