Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Warrants (Tables)

v3.22.1
Warrants (Tables)
 12 Months Ended
Dec. 31, 2021
Warrants [Abstract]  
Schedule of warrants outstanding
    Public     Private
placement		     Total  
    Number     Number     Number  
At December 31, 2019    
-
      
-
      
-
  
At December 31, 2020    
-
      
-
      
-
  
At December 31, 2021     20,124,748       21,129,818       41,254,566  

 
Schedule of public warrants are classified as Level
    Level 1     Level 2     Level 3     Total  
At December 31, 2021   £’000     £’000     £’000     £’000  
Warrants     13,418      
-
       29,274       42,692  

 
Schedule of fair value of the warrants
    Private placement  
       
Number of warrants     21,129,818  
Exercise price   $ 11.50  
Expected term (years)     7  
Expected volatility     47.1 %
Dividend yield    
Nil
  
Risk free interest rate     1.40 %

 
Schedule of fair value movements
    Public     Private
placement		     Total  
    £’000     £’000     £’000  
At December 31, 2019    
-
      
-
      
-
  
                         
At December 31, 2020    
-
      
-
      
-
  
                         
Warrants issued upon acquisition of Drover    
-
       6,566       6,566  
Fair value movement    
-
       102       102  
Exercise of warrants    
-
       (6,667 )     (6,667 )
Warrants issued in the Transaction     22,475       46,887       69,362  
Fair value movement     (9,057 )     (17,614 )     (26,671 )
At December 31, 2021     13,418       29,274       42,692