Company: BDRX
Filing Date: 2025-01-28
Form Type: 424B3
Source: 0001214659-25-001409
Chunk: 348

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-28
Form: 424B3
Chunk 348
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32 and is measured at fair value in accordance with
IFRS9. Management have estimated the expected liability to be $3.1 million and the present value as $2.5 million.

This financial liability
is measured on Level 3, the fair value is derived using a discounted cash flow approach. The discount rate applied to the obligation was
11.64% (2023: n/a).

A 1% increase or decrease in the discount rate would decrease or increase the liability by approximately £0.03 million (2023: n/a) and £0.03 million (2023: n/a), respectively. An increase in the liability would result in a loss in the revaluation of financial instruments, while a decrease
would result in a gain.

There were no transfers
between Level 1 and 2 in the period.

| F-11 |

| 8. | Derivative financial liability – current |

| Schedule of derivative financial liability                                                  |     |  As at June 30, 
            2024 
 unaudited £’000 |   |     |        As at 
 December 31, 
   2023 £’000 |   |
|:--------------------------------------------------------------------------------------------|:----|----------------:|:--|:----|-------------:|:--|
| At January 1                                                                                |     |           4,160 |   |     |           85 |   |
| Warrants issued                                                                             |     |           1,368 |   |     |        4,562 |   |
| Transfer to share premium on exercise of warrants                                           |     |          (3,618 | ) |     |            - |   |
| Gain recognised in finance income within the consolidated statement of comprehensive income |     |            (751 | ) |     |         (487 | ) |
|                                                                                             |     |           1,159 |   |     |        4,160 |   |

Equity settled
derivative financial liability is a liability that is not to be settled for cash.

No warrants recognised
as equity settled derivatives were exercised in 2023.

The Company issues
warrants exercisable into ADSs of the Company as part of registered direct offerings and private placements in the US. The number of ADSs
to be issued when exercised is fixed, however the exercise price is denominated in US Dollars being different to the functional currency
of the Company. Therefore, the warrants are classified as equity settled derivative financial liabilities recognised at fair value through