Board Change • May 20
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Director Mike Murphy was the last director to join the board, commencing their role in 2026. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Mar 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Negative equity (-UK£49k). Earnings have declined by 43% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 17x increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (UK£2.89m market cap, or US$3.85m). Minor Risk Share price has been volatile over the past 3 months (10% average weekly change). New Risk • Feb 07
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Over 17x increase in shares outstanding. This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Negative equity (-UK£49k). Earnings have declined by 43% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 17x increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (UK£4.27m market cap, or US$5.82m). Announcement • Nov 22
Ethtry PLC Announces Termination of Stephen David Winfield as Director, Effective November 17, 2025 Ethtry PLC announced termination of Mr. Stephen David Winfield as Director. Date of termination is November 17, 2025. Board Change • Oct 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. CEO & Director David Levis was the last director to join the board, commencing their role in 2024. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Oct 14
Igraine Plc has filed a Follow-on Equity Offering in the amount of £7.151 million. Igraine Plc has filed a Follow-on Equity Offering in the amount of £7.151 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,326,800,000
Price\Range: £0.0025
Security Features: Attached Warrants
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,533,600,000
Price\Range: £0.0025
Transaction Features: Subsequent Direct Listing New Risk • Jan 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 41% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (41% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (UK£457.6k market cap, or US$558.7k). Minor Risk Share price has been volatile over the past 3 months (9.3% average weekly change). New Risk • Jan 03
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 41% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Revenue is less than US$1m. Market cap is less than US$10m (UK£457.6k market cap, or US$568.2k). Minor Risks Share price has been volatile over the past 3 months (9.3% average weekly change). Shareholders have been diluted in the past year (41% increase in shares outstanding). Announcement • Nov 06
Igraine Plc, Annual General Meeting, Nov 29, 2024 Igraine Plc, Annual General Meeting, Nov 29, 2024. Location: ofices of peterhouse capital limited, 3rd floor, 80 cheapside, ec2v 6ee, london United Kingdom New Risk • Apr 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Revenue is less than US$1m. Market cap is less than US$10m (UK£259.5k market cap, or US$323.0k). Minor Risk Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Announcement • Oct 14
Igraine Plc, Annual General Meeting, Nov 10, 2022 Igraine Plc, Annual General Meeting, Nov 10, 2022, at 10:30 Coordinated Universal Time. Location: Peterhouse Capital Limited 3rd Floor, 80 Cheapside London United Kingdom Announcement • Jul 18
Igraine Plc Announces Board Changes Igraine Plc announced that Professor Sir Christopher Evans OBE, Martin Walton, Burns Singh Tennent-Bhohi and Richard Walker have resigned with immediate effect. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Executive Director Burns Singh Tennent-Bhohi was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Dec 24
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. No experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). CEO & Executive Director Richard Walker is the most experienced director on the board, commencing their role in 2010. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. 
