The company has issued 7600 shares during the period of which 1,504 shares were in return for services.
The shares issued in return for services are subject to reverse vesting over a period of up to 24 months. During the Vesting Period, any unvested share shall automatically be converted to deferred shares if the appointment is terminated for any reason whatsoever.
The fair value of shares at the grant date was calculated using the most recent transaction in the entities shares.
The company recognises and measures its allocation of the share-based payment expense on a pro-rata basis. The company recognised total expenses of £19,251 and £0 related to equity-settled share-based payment transactions in 2018 and 2017 respectively. The incremental fair value of £103,956 will be expensed over the remaining vesting period.