Company: BDRX
Filing Date: 2025-04-11
Form Type: 20-F
Source: 0001214659-25-005742
Chunk: 93

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-04-11
Form: 20-F
Item: Item 19
Chunk 93
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                               4 years            4 years        
  Volatility                                                       100.0                                 100.0              110.0          
  Expected dividend yield                                          0                                     0                  0              
  Risk free rate                                                   4.110                                 4.195              4.025          

The share price used in the determination
of the fair value of the options granted in 2024 was the share price on the date of grant.

  Volatility was calculated with reference to the historic share              
  price volatility of comparable companies measured over a four-year period.  
 ──────────────────────────────────────────────────────────────────────────────

The following information is relevant
in the determination of the fair value of options granted during the year 2022 under the equity share based remuneration schemes operated
by the Group.

 ─────────────────────────────────────────────────────────────────────────────────────────────────────
  Number of options                             375,000            100,000            150,000        
  Option pricing models used                    Black-Scholes      Black-Scholes      Black-Scholes  
  Share price                                   0.1525             0.105              0.105          
  Exercise price of options issued in year      0.1525             0.105              0.105          
  Contractual life                              10 years           10 years           10 years       
  Expected life                                 5 years            5 years            5 years        
  Volatility                                    87.88              91.78              91.66          
  Expected dividend yield                       0                  0                  0              
  Risk free rate                                1.28               1.92               1.92           

The share price used in the determination
of the fair value of the options granted in 2022 was the share price on the date of grant.

  Volatility was calculated with reference to the historic share              
  price volatility of comparable companies measured over a five-year period.  
 ──────────────────────────────────────────────────────────────────────────────

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