Company: BDRX
Filing Date: 2025-01-17
Form Type: F-1
Source: 0001214659-25-000922
Chunk: 153

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-17
Form: F-1
Chunk 153
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 $1.00 for 30 consecutive business days, which triggered a notice of delisting
pursuant to NASDAQ Listing Rule 5550(a)(2). Normally, a company would be afforded a 180-calendar day period to demonstrate compliance
with the Minimum Bid Price Requirement. However, pursuant to NASDAQ Listing Rule 5810(c)(3)(A)(iv), we were not eligible for any compliance
period specified in Rule 5810(c)(3)(A) because we effected reverse stock splits over the prior two-year period with a cumulative ratio
of 250 shares or more to one. Accordingly, and as described in the Letter, unless we timely requested a hearing before the Panel, our
securities would be subject to suspension/delisting. We requested a hearing, which automatically stayed any suspension or delisting action
pending the hearing and the expiration of any additional extension period granted by the Panel following the hearing.

On October 14, 2024, the Panel
granted our request for an extension of time to demonstrate compliance with the Minimum Bid Price Requirement. On November 7, 2024, we
were formally notified that the Hearings Panel determined that we had regained compliance with the Minimum Bid Price Requirement. We remain
subject to a discretionary panel monitor through February 24, 2025, and we are required to provide prompt notification during this exception
period of any significant events that occur during this time that may affect our compliance with NASDAQ requirements.

Depositary Share Ratio Change and Change in Nominal Value

On October 4, 2024, and in
an effort to bring our Depositary Share price into compliance with NASDAQ’s minimum bid price per share requirement, we effected
a ratio change in the number of Ordinary Shares represented by our Depositary Shares from 400 Ordinary Shares per Depositary Share to
10,000 Ordinary Shares per Depositary Share. No fractional Depositary Shares were issued.

On November 22, 2024, we held
the November GM, and our shareholders passed resolutions to (i) subdivide our Ordinary Shares of £0.001 nominal value each into
one ordinary share of £0.00005 nominal value and 19 C Deferred Shares of £0.00005 nominal value each, which became effective
on November 25, 2024 and (y) adopt new Articles of Association, which make consequential amendments to the existing articles of association
of the Company to reflect the November Subdivision. As is standard for deferred shares