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Share-based Payments (Tables) | 12 Months Ended
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Dec. 31, 2022 | Dec. 31, 2021
Share-based Payments [Abstract] |  |
Disclosure of share-based payment expense as reflected in the Consolidated Statement of Income/(Loss) | The following table provides the classification of the Group’s consolidated share-based payment expense as reflected in the Consolidated Statement of Income/(Loss):
Year ended December 31, | 2022 $000s | 2021 $000s | 2020 $000s
General and administrative | 8,862 |  | 9,310 |  | 7,650 |
Research and development | 5,837 |  | 4,640 |  | 3,068 |
Total | 14,699 |  | 13,950 |  | 10,718 |
Disclosure of RSU activity | RSU activity for the years ended December 31, 2022, 2021 and 2020 is detailed as follows:
| Number of Shares/Units | Wtd Avg Grant Date Fair Value (GBP) (*)
Outstanding (Non-vested) at January 1, 2020 | 4,636,347 |  | 2.08 |
RSUs Granted in Period | 1,759,011 |  | 1.80 |
Vested | (2,781,687) |  | 1.54 |
Forfeited | (191,089) |  | 2.37 |
Outstanding (Non-vested) at December 31, 2020 and January 1, 2021 | 3,422,582 |  | 2.46 |
RSUs Granted in Period | 2,195,133 |  | 2.15 |
Vested | (1,176,695) |  | 2.93 |
Forfeited | (808,305) |  | 2.25 |
Outstanding (Non-vested) at December 31, 2021 and January 1, 2022 | 3,632,715 |  | 1.91 |
RSUs Granted in Period | 4,309,883 |  | 1.76 |
Vested | (696,398) |  | 2.80 |
Forfeited | (1,155,420) |  | 2.67 |
Outstanding (Non-vested) at December 31, 2022 | 6,090,780 |  | 1.74 |
* 2021 – for liability awards based on fair value at reporting date. |
Disclosure of stock option activity | Stock option activity for the years ended December 31, 2022, 2021 and 2020, is detailed as follows:
| Number of Options | Wtd Average Exercise Price (GBP) | Wtd Average of remaining contractual term (in years) | Wtd Average Stock Price at Exercise (GBP)
Outstanding at January 1, 2020 | 8,472,827 |  | 1.16 |  | 8.55 |
Granted | 4,076,982 |  | 3.14 |  |  |
Exercised | (514,410) |  | 1.52 |  |  | 2.88
Forfeited and expired | (1,119,313) |  | 1.88 |  |  |
Options Exercisable at December 31, 2020 and January 1, 2021 | 5,447,405 |  | 0.98 |  | 7.46 |
Outstanding at December 31, 2020 and January 1, 2021 | 10,916,086 |  | 1.81 |  | 8.38 |
Granted | 5,424,000 |  | 3.34 |  |  |
Exercised | (2,238,187) |  | 0.70 |  |  | 3.63
Forfeited and expired | (687,781) |  | 2.53 |  |  |
Options Exercisable at December 31, 2021 and January 1, 2022 | 4,773,873 |  | 1.42 |  | 6.50 |
Outstanding at December 31, 2021 and January 1, 2022 | 13,414,118 |  | 2.58 |  | 8.29 |
Granted | 8,881,000 |  | 2.04 |  |  |
Exercised | (577,022) |  | 0.50 |  |  | 2.43
Forfeited and expired | (3,924,215) |  | 2.89 |  |  |
Options Exercisable at December 31, 2022 | 6,185,216 |  | 2.03 |  | 6.21 |
Outstanding at December 31, 2022 | 17,793,881 |  | 2.31 |  | 8.03 |
Disclosure of terms and conditions of share-based payment arrangement | The fair value of the stock options awarded by the Company was estimated at the grant date using the Black-Scholes option valuation model, considering the terms and conditions upon which options were granted, with the following weighted-average assumptions:
At December 31, | 2022 | 2021 | 2020
Expected volatility | 41.70 | % | 41.05 | % | 41.25 | %
Expected terms (in years) | 6.11 | 6.16 | 6.11
Risk-free interest rate | 2.13 | % | 1.06 | % | 0.53 | %
Expected dividend yield | — |  | — |  | — |
Grant date fair value | $1.15 |  | $1.87 |  | $1.72 |
Disclosure of range of exercise prices of outstanding share options | For shares outstanding as of December 31, 2022, the range of exercise prices is detailed as follows:
Range of Exercise Prices (GBP) | Options Outstanding | Wtd Average Exercise Price (GBP) | Wtd Average of remaining contractual term (in years)
0.01 | 439,490 |  | — |  | 6.76
1.00 to 2.00 | 6,276,391 |  | 1.58 |  | 7.00
2.00 to 3.00 | 5,375,750 |  | 2.26 |  | 8.92
3.00 to 4.00 | 5,702,250 |  | 3.34 |  | 8.40
Total | 17,793,881 |  | 2.31 |  | 8.03
Disclosure of subsidiary share-based payments | Subsidiary Plans Certain subsidiaries of the Group have adopted stock option plans. A summary of stock option activity by number of shares in these subsidiaries is presented in the following table:
| Outstanding as of January 1, 2022 | Granted During the Year | Exercised During the Year | Expired During the Year | Forfeited During the Year | Deconsolidation During the Year | Outstanding as of December 31, 2022
Entrega | 349,500 |  | 45,000 |  | — |  | (50,000) |  | — |  | — |  | 344,500 |
Follica | 2,686,120 |  | 90,000 |  | — |  | — |  | — |  | — |  | 2,776,120 |
Sonde | 2,049,004 |  | — |  | — |  | — |  | — |  | (2,049,004) |  | — |
Vedanta | 1,991,637 |  | 490,506 |  | (400,000) |  | (65,235) |  | (192,332) |  | — |  | 1,824,576 |
| Outstanding as of January 1, 2021 | Granted During the Year | Exercised During the Year | Expired During the Year | Forfeited During the Year | Deconsolidation During the Year | Outstanding as of December 31, 2021
Alivio | 3,888,168 |  | 197,398 |  | (2,373,750) |  | (506,260) |  | (1,205,556) |  | — |  | — |
Entrega | 962,000 |  | — |  | (525,000) |  | (87,500) |  | — |  | — |  | 349,500 |
Follica | 1,309,040 |  | 1,383,080 |  | — |  | (6,000) |  | — |  | — |  | 2,686,120 |
Sonde | 2,192,834 |  | — |  | — |  | (51,507) |  | (92,323) |  | — |  | 2,049,004 |
Vedanta | 1,741,888 |  | 451,532 |  | (52,938) |  | (76,491) |  | (72,354) |  | — |  | 1,991,637 |
| Outstanding as of January 1, 2020 | Granted During the Year | Exercised During the Year | Expired During the Year | Forfeited During the Year | Deconsolidation During the Year | Outstanding as of December 31, 2020
Alivio | 3,698,244 |  | 189,924 |  | — |  | — |  | — |  | — |  | 3,888,168 |
Entrega | 972,000 |  | — |  | — |  | — |  | (10,000) |  | — |  | 962,000 |
Follica | 1,309,040 |  | — |  | — |  | — |  | — |  | — |  | 1,309,040 |
Sonde | 1,829,004 |  | 363,830 |  | — |  | — |  | — |  | — |  | 2,192,834 |
Vedanta | 1,450,100 |  | 493,951 |  | (813) |  | — |  | (201,350) |  | — |  | 1,741,888 |
Disclosure of weighted average exercise prices for options outstanding | The weighted-average exercise prices and remaining contractual life for the options outstanding as of December 31, 2022, were as follows:
Outstanding at December 31, 2022 | Number of options | Weighted-average exercise price $ | Weighted-average contractual life outstanding |  |
Entrega | 344,500 |  | 1.91 |  | 4.92 |  |
Follica | 2,776,120 |  | 1.41 |  | 6.38 |  |
Vedanta | 1,824,576 |  | 15.89 |  | 6.88 |  |
Disclosure of weighted average exercise prices for options granted | The weighted average exercise prices for the options granted for the years ended December 31, 2022, 2021 and 2020, were as follows:
For the years ended December 31, | 2022 $ | 2021 $ | 2020 $
Alivio | — |  | — |  | 0.47 |
Entrega | 0.02 |  | — |  | — |
Follica | 1.86 |  | 1.86 |  | — |
Sonde | — |  | — |  | 0.18 |
Vedanta | 14.94 |  | 19.69 |  | 19.59 |
Disclosure of weighted average exercise prices for options forfeited | The weighted average exercise prices for options forfeited during the year ended December 31, 2022, were as follows:
Forfeited during the year ended December 31, 2022 | Number of options | Weighted-average exercise price $ |  |
Vedanta | 192,332 |  | 19.64 |  |  |
Disclosure of weighted average exercise prices for options exercised | The weighted average exercise prices for options exercised during the year ended December 31, 2022, were as follows:
Exercised during the year ended December 31, 2022 | Number of options | Weighted-average exercise price $
Vedanta | 400,000 |  | 0.02 |
Disclosure of weighted average exercise prices for options exercisable | The weighted average exercise prices for options exercisable as of December 31, 2022, were as follows:
Exercisable at December 31, 2022 | Number of Options | Weighted-average exercise price $ | Exercise Price Range $ |  |
Entrega | 344,500 |  | 1.91 | 0.02-2.36 |  |
Follica | 2,776,120 |  | 1.41 | 0.03-1.86 |  |
Vedanta | 1,824,576 | 15.89 | 0.02-21.35 |  |
Disclosure of range of assumptions of fair value of stock option grants |  | The fair value of the stock option grants has been estimated at the date of grant using the Black-Scholes option pricing model with the following range of assumptions:
Assumption/Input | 2022 | 2021 | 2020
Expected award life (in years) | 6.00-8.33 | 6.00-7.11 | 6.00-10.00
Expected award price volatility | 88.22%-89.68% | 88.05%-88.59% | 89.24%-95.46%
Risk free interest rate | 1.67%-3.13% | 0.96%-1.32% | 0.32%-0.87%
Expected dividend yield | — |  | — | —
Grant date fair value | $10.51-$15.14 | $13.84-$16.23 | $13.09-$16.54
Share price at grant date | $14.00-$18.84 | $19.00-$21.35 | $19.59

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