| 24 | Share capital |
| 2017 | 2017 | 2016 | 2016 | 2015 | 2015 | |||||||||||||||||||
| Authorised, allotted and fully paid – classified as equity | Number
|
£
|
Number
|
£
|
Number
|
£
|
||||||||||||||||||
| At 1 January | ||||||||||||||||||||||||
| Ordinary shares of £0.00005 each | 61,084,135 | 3,054 | 48,699,456 | 2,435 | 33,467,504 | 1,673 | ||||||||||||||||||
| Deferred shares of £1 each | 1,000,001 | 1,000,001 | 1,000,001 | 1,000,001 | 1,000,001 | 1,000,001 | ||||||||||||||||||
| Total | 1,003,055 | 1,002,436 | 1,001,674 | |||||||||||||||||||||
In accordance with the Articles of Association for the Company adopted on 13 November 2014, the share capital of the Company consists of an unlimited number of ordinary shares of nominal value 0.005 pence each. Ordinary and Deferred shares were recorded as equity.
Rights attaching to the shares following the incorporation of Midatech Pharma plc
Shares classified as equity
The holders of ordinary shares in the capital of the Company have the following rights:
| (a) | to receive notice of, to attend and to vote at all general meetings of the Company, in which case shareholders shall have one vote for each share of which he is the holder. |
| (b) | to receive such dividend as is declared by the Board on each share held. |
The holders of Deferred Shares in the capital of the Company:
| (a) | shall not be entitled to receive notice of or to attend or speak at any general meeting of the Company or to vote on any resolution to be proposed at any general meeting of the Company; |
| (b) | shall not be entitled to receive any dividend or other distribution of out of the profits of the Company. |
In the event of a distribution of assets, the Deferred shareholders shall receive the nominal amount paid up on such share after the holder of each ordinary share shall have received (in cash or specie) the amount paid up or credited as paid up on such ordinary share together with an additional payment of £100 per share. The Company has the authority to purchase the Deferred Shares and may require the holder of the Deferred Shares to sell them for a price not exceeding 1p for all the Deferred Shares.
| Ordinary Shares |
Deferred Shares |
Share Price |
Total consideration |
||||||||||||||
| Number | Number | £ | £’000 | ||||||||||||||
| 2015 | |||||||||||||||||
| As at 1 January 2015 | 27,794,258 | 1,000,001 | 32,000 | ||||||||||||||
| 24 April 2015 | Exercise of employee share options | 16,500 | - | 0.00005 | - | ||||||||||||
| 25 September 2015 | Exercise of employee share options | 10,000 | - | 0.00005 | - | ||||||||||||
| 4 December 2015 | Share issue on acquisition of DARA BioSciences, Inc. | 5,422,028 | - | 2.63 | 14,240 | ||||||||||||
| 23 December 2015 | Deferred consideration re: acquisition of Q Chip Limited | 224,718 | - | 2.67 | 600 | ||||||||||||
| As at 31 December 2015 | 33,467,504 | 1,000,001 | 46,840 | ||||||||||||||
| 2016 | |||||||||||||||||
| 1 July 2016 | Deferred consideration re: acquisition of Q Chip Limited | 74,908 | - | 2.67 | 200 | ||||||||||||
| 31 October 2016 | Placing and Open Offer (costs shown in note 17) | 15,157,044 | - | 1.10 | 16,673 | ||||||||||||
| As at 31 December 2016 | 48,699,456 | 1,000,001 | 63,713 | ||||||||||||||
| 2017 | |||||||||||||||||
| 19 May 2017 | Share issue to SIPP trustee (see note 28) | 20,000 | - | 0.00005 | 1 | ||||||||||||
| 16 October 2017 | Placing and Open Offer (shown in note 17) | 12,314,679 | - | 0.5 | 6,157 | ||||||||||||
| 7 November 2017 | Share issue to SIPP trustee (see note 28) | 50,000 | - | 0.00005 | 3 | ||||||||||||
| As at 31 December 2017 | 61,084,135 | 1,000,001 | 69,874 | ||||||||||||||