STRATEGIC REPORT
GOVERNANCE
financial statements
10 EMPLOYEE BENEFITS continued The options are accounted for as equity-settled schemes.
The number and weighted-average remaining contractual life of outstanding options under the DSBP are as follows:
Year ended 31 December 2022 Number of options 5,788,003 1,313,916
Year ended 31 December 2021 Number of options 5,094,921 1,432,610
Outstanding at 1 January
Granted Forfeited Exercised
–
–
(1,103,280) 5,998,639 1,652,826
(739,528)
Outstanding at 31 December Exercisable at 31 December
5,788,003 1,683,566
0.83 0.84
Weighted-average share price at exercise (£) Weighted-average remaining contractual life (years)
0.93 0.93
The exercise price for options granted under the DSBP is nil.
During the year to 31 December 2022, awards of DSBPs were made on 24 March 2022. The weighted-average fair value and assumptions used to determine the fair value of options granted during the year under the DSBP are as follows:
£0.89
Fair value at grant date Option pricing model used Share price at grant date
Black–Scholes
£0.89
Nil Nil
Exercise price
Expected volatility
3 years
Option life Dividends
Nil Nil
Risk-free interest rate
Save As You Earn (“SAYE”) scheme The Group operates SAYE plans for all employees, allowing a monthly amount to be saved from salaries over either a three or five year period that can be used to purchase shares in the Company at a predetermined price. The employee must remain in employment for the duration of the saving period and satisfy the monthly savings requirement (except in “good leaver” circumstances). Options are exercisable for up to six months after the saving period.
The options are accounted for as equity-settled schemes.
The number, weighted-average exercise price, weighted-average share price at exercise, and weighted-average remaining contractual life of outstanding options under the SAYE are as follows: Year ended 31 December 2022 Year ended 31 December 2021
Weighted- average exercise price £
Weighted- average exercise price £
Number of options
Number of options
14,779,553 1,924,649 (791,758) (526,561) (2,337,700) (130,043) 12,918,140
0.44 15,516,003
Outstanding at 1 January
0.41 0.74 0.42 0.45 0.45 0.84 0.44 0.60 0.93 1.66
0.71 0.46 0.59 0.50 0.79
Granted Forfeited Cancelled Exercised
1,149,350 (1,081,602) (363,145) (408,488)
Expired
(32,565)
Outstanding at 31 December Exercisable at 31 December
0.45 14,779,553
233,954
0.59 0.72 1.22
278,130
Weighted-average share price at exercise
Weighted-average remaining contractual life (years)
153
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