Company: BDRX
Filing Date: 2025-01-17
Form Type: F-1
Source: 0001214659-25-000922
Chunk: 415

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-17
Form: F-1
Chunk 415
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   |      10 years |     |     |   |       10 years |     |
| Expected life                            |     |   |       5 years |     |     |   |       5 years |     |     |   |        5 years |     |
| Volatility                               |     |   |         88.63 | %** |     |   |         88.59 | %** |     |   |          88.11 | %** |
| Expected dividend yield                  |     |   |             0 | %   |     |   |             0 | %   |     |   |              0 | %   |
| Risk free rate                           |     |   |          0.38 | %   |     |   |          0.26 | %   |     |   |           0.32 | %   |

| * | The share price used in the determination of the fair value of the options granted in 2021 was the share price on the date of grant. |

All other share options
relate to the Biodexa Limited 2008 unapproved share option scheme.

Share Incentive
Plan

In April 2017 the Group
set up the Biodexa Pharmaceuticals Share Incentive Plan (MPSIP). Under the BPSIP, Group employees and Directors can acquire ordinary shares
in the Company via a salary sacrifice arrangement. Biodexa grants matching shares for every share bought. In order to retain these shares,
scheme participants must remain employed by the Group for three years from the date of acquisition. All shares purchased by the BPSIP
are held by an Employee Benefit Trust that is not under the control of Biodexa. Shares must be left in the plan for 5 years to qualify
for full income tax and NIC relief.

On 24 April 2023 the
Company terminated the Trust and requested the Trustees distribute the assets of the Trust to the relevant Group employees.

| F-75 |

| 24 | Share-based payments (continued) |

Warrants issued
in lieu of fees

The Company issues warrants
over ADSs to certain its brokers in lieu of broker fees connected to the equity transactions in the year. The warrants are accounted for
as share based payments.

| Schedule of  warrants are accounted for                                                
 as share based payments                                                                
 Date of grant                                                                          |     | At 1 January 
 2023         |     | Granted in