XML 27 R20.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Shareholders' Equity
 6 Months Ended
Jun. 30, 2024
Equity [Abstract]  
Shareholders' Equity

12. Shareholders’ Equity

Common Shares

 

 

Number of
ordinary shares

 

 

Cost
($'000)

 

At January 1, 2023 and March 31, 2023

 

 

624,928,519

 

 

 

2,478

 

Vesting of DRSUs

 

 

501,380

 

 

 

2

 

Conversion of convertible loan notes

 

 

17,774,895

 

 

 

67

 

At June 30, 2023

 

 

643,204,794

 

 

 

2,547

 

 

 

 

 

 

 

 

At January 1, 2024

 

 

701,217,089

 

 

 

2,775

 

Exercise of share options

 

 

132,345

 

 

 

—

 

At March 31, 2024

 

 

701,349,434

 

 

 

2,775

 

Exercise of share options

 

 

800,890

 

 

 

4

 

Vesting of PSUs

 

 

4,014,450

 

 

 

15

 

Issuance of shares

 

 

62,656,500

 

 

 

238

 

At June 30, 2024

 

 

768,821,274

 

 

 

3,032

 

 

During the three months ended March 31, 2024, the exercise of employee share options and the vesting of restricted stock units ("RSUs") were satisfied by delivering shares from the Employee Benefit Trust until all of the shares in the Employee Benefit Trust were used and it was terminated. Subsequently, 132,345 ordinary shares were issued to satisfy employee share option exercises.

 

During the three months ended June 30, 2024, 4,815,340 ordinary shares were issued due to the exercise of employee share options and the vesting of PSUs.

 

Additionally, on June 17, 2024, the Company issued 12,531,300 ADSs representing 62,656,500 ordinary shares through an underwritten registered direct offering priced at $3.99 per ADS. The Company raised aggregate gross proceeds of $50.0 million, or $47.0 million after underwriting discounts of $3.0 million. The Company also incurred other issuance costs of $1.0 million related to the offering.