Share capital and shareholders
Shares in issue, securities in public hands, significant shareholders, convertible instruments and restrictions on transfer.
Share capital
As at 19 August 2026, the Company had 187,300,566 ordinary shares of 0.01p each in issue. The Company has one class of share in issue and each ordinary share carries one vote. The Company holds no shares in treasury.
Securities in public hands
As at 19 August 2026, 13.64% of the issued share capital was not in public hands and 86.36% was in public hands, calculated in accordance with rule 2.12 of the Aquis Growth Market Rulebook.
Significant shareholders
As at 19 August 2026, the Company had been notified of, or was otherwise aware of, the following interests in 5 per cent or more of its issued share capital.
| Shareholder | Ordinary shares | Percentage |
|---|---|---|
| Oberon Investments Limited | 17,548,034 | 9.37% |
| LCS Trust | 15,000,000 | 8.01% |
| Geoff Miller | 14,111,828 | 7.53% |
| CWF Holdings | 13,333,333 | 7.12% |
| Martin Charles Armstrong | 9,408,000 | 5.02% |
Directors’ and management interests
| Holder | Position | Shares | Percentage |
|---|---|---|---|
| Geoff Miller | Director | 14,111,828 | 7.53% |
| Samuel Ogunsalu | Director | 4,602,377 | 2.46% |
| Axis MedTech Holdings | Majority controlled by G Miller and S Ogunsalu | 3,300,000 | 1.76% |
| Norman Lott | Company Secretary and CFO | 1,950,000 | 1.04% |
| Nik Patel | Medical Advisory Board | 1,330,000 | 0.71% |
| Mortgage Matter Company SSAS (Dr Timothy Evans) | Medical Advisory Board | 246,667 | 0.13% |
Total not in public hands: 25,540,872 ordinary shares, 13.64%.
Convertible instruments and dilution
As at 19 August 2026 the following instruments convertible into, or conferring a right to subscribe for, ordinary shares were outstanding.
| Instrument | Held by | Shares on conversion | Dilution |
|---|---|---|---|
| Convertible loan note, £136,573 nominal | Axis MedTech Holdings | 9,104,866 | 4.64% |
| Convertible loan note, £50,000 nominal | Martin Charles Armstrong | 3,333,333 | 1.75% |
| Warrants, exercisable at 20p per ordinary share until 31 December 2026 | Proffitt Brothers LLC | 2,000,000 | 1.06% |
The 2,000,000 warrants are held by Proffitt Brothers LLC and are exercisable at 20 pence per ordinary share at any time until 31 December 2026.
Both loan notes are convertible at 1.5 pence per ordinary share. The Axis MedTech Holdings note has a nominal value of £136,573 and converts into 9,104,866 ordinary shares; the Martin Charles Armstrong note has a nominal value of £50,000 and converts into 3,333,333 ordinary shares. Neither loan note had been converted as at 19 August 2026, and no warrant had been exercised.
Assuming full conversion of both loan notes and full exercise of the warrants, and no other issue of shares, the issued share capital would increase to 201,738,765 ordinary shares, representing immediate dilution of 7.16 per cent of the enlarged share capital.
The Company has no share options outstanding.
Restrictions on transfer
The ordinary shares are freely transferable, subject only to the provisions of the Company’s articles of association. No lock-in or orderly market undertaking remains in force.
Admission to trading
- Market
- Aquis Growth Market, operated by Aquis Stock Exchange Limited
- TIDM
- TSP
- ISIN
- GB00BMZCKL55
- Security
- Ordinary shares of 0.01p each
- Other trading venues
- None
This page was last updated on 19 August 2026.