Share Capital and Share Premium

12 Months Ended

Dec. 31, 2020

Disclosure Of Classes Of Share Capital [Abstract]

11. Share capital and share premium

	2020		2019		2018
	(in thousands)
	£		£		£
Share capital		2,047		1,299		1,289
Share premium		140,890		79,541		79,426
		142,937		80,840		80,715

	Number		Number		Number
	(in thousands)
Issued share capital comprises:
Ordinary shares of £0.04 each		51,175		32,479		32,226
		51,175		32,479		32,226

	Number of shares		Share capital		Share premium
	(in thousands)
			£		£
Fully paid shares:
Balance at December 31, 2018		32,226		1,289		79,426
Exercise of share options		253		10		115
Balance at December 31, 2019		32,479		1,299		79,541
Exercise of share options		33		1		14
Issue of share capital		18,663		747		61,335
Balance at December 31, 2020		51,175		2,047		140,890

Ordinary shares

Holders of ordinary shares are entitled to one vote for each share held of record on all matters submitted to a vote of shareholders and do not have cumulative voting rights.

Capital management

For the purpose of the Company’s capital management, capital includes issued capital, share premium and all other equity reserves attributable to the equity holders of the Company. The purpose of the Company’s capital management is to maximize shareholder value and ensure adequate capital is available to meet the medium-term operating plan. Review of operations and commitments is key to identifying future capital management and a full review is undertaken on a quarterly basis.

No changes were made in the objectives, policies or processes for managing capital during the years ended December 31, 2020, 2019 or 2018.