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Share Plans (Tables)
12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Movement in Number of Shares Held by ESOP Trustees
In millions
At January 1, 2024$(0.9)
Utilization of ESOP shares0.1 
At December 31, 2024(0.8)
Utilization of ESOP shares0.1 
At December 31, 2025$(0.7)
The change in the number of shares held by the Trustees of the ESOP and the number of share options held over those shares are shown below:
Number of shares held by ESOP Trustees
£0.50 ordinary shares
At January 1, 2025544,603 
Shares utilized during the year(118,128)
At December 31, 2025426,475 
Schedule of Share-based Compensation Expense
Share-based compensation expense for continuing operations for the years ended December 31, 2025, 2024 and 2023 was as follows:
Years ended December 31,
In millions202520242023
Total share-based compensation charges$3.6 $3.5 $2.8 
Share-based Compensation, Stock Options, Activity
The following tables illustrates the number of, and movements in, share options during the year, with each option relating to one ordinary share:
Number of sharesWeighted- average exercise priceWeighted- average remaining contractual life (years)Aggregate intrinsic value ($M)
At January 1, 20251,125,192 $1.00 2.1$14.7 
Granted during the year382,578 $0.88 
Exercised during the year(196,234)$0.75 
Accrued dividend awards15,272 $0.87 
Lapsed during the year(125,892)$1.00 
At December 31, 20251,200,916 $0.96 1.7$16.3 
Options exercisable at December 31, 202528,544 $1.00 2.4$0.4 
Options expected to vest as of December 31, 2025802,657 $0.94 1.8$10.9 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The following table illustrates the assumptions used in deriving the fair value of share options during the year:
202520242023
Dividend yield (%)
4.40 - 5.52
4.40 - 6.03
3.15 3.32
Expected volatility range (%)
38.31 - 41.86
36.40 - 45.79
31.54 - 43.49
Risk-free interest rate (%)
4.03 - 4.11
3.87 - 5.08
3.67 - 5.16
Expected life of share options range (years)
1.00 - 4.00
1.00 - 4.00
1.00 - 4.00
Forfeiture rate (%)5.00 5.00 5.00 
Weighted average exercise price ($)$0.75$1.00$1.00
Models usedBlack-Scholes & Monte-CarloBlack-Scholes & Monte-CarloBlack-Scholes & Monte-Carlo