Iomart Group plc, the Glasgow-based secure cloud services firm currently searching for a new CEO, said on Monday its remuneration committee has granted 500,000 share options to executive chair Richard Last and 1 million share options to CFO Scott Cunningham.

Iomart shares have fallen about 75% in the past year to about 20p to slash the firm’s stock market value to around £23 million.

On July 24, Iomart published delayed results for the year ended March 31, 2025, showing a loss before tax of £53.2 million compared to a profit of £8.7 million a year earlier “impacted by exceptional non-cash goodwill impairment charge of £52.9m.”

Revenue rose 13% to £143.5 million.

On May 30, Iomart said Lucy Dimes would step down as chief executive officer and leave the company. Iomart chair Richard Last became executive chair while the firm looks for a new CEO.

On May 2, Iomart had said it would unite its cloud services activities under a single brand — Atech.

In a stock exchange statement on Monday, Iomart said: “iomart Group plc the secure cloud services company, announces that, on 24 October 2025 the Remuneration Committee granted options over ordinary shares of 1p each in the Company to: (i) Richard Last (Executive Chair) under the rules of a Share Option Agreement entered into with him on 25 October 2025; and (ii) Scott Cunningham (CFO) under the rules of the Company’s Performance Share Plan 2020 as amended by the Remuneration Committee on 20 October 2023 and 11 April 2024 (together the ‘Plans’).

“The options granted under the Plans have an exercise price of 1p each and will vest on 24 October 2028 based on certain performance conditions.

“These options, together with other options granted to Executive and Senior Management under a long term incentive plan and other share plans on the same date, and which similarly vest on 24 October 2028, result in an additional shareholder dilution of 5.23% which is within our existing levels of authority.”