Company: BDRX
Filing Date: 2025-01-17
Form Type: F-1
Source: 0001214659-25-000922
Chunk: 399

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-17
Form: F-1
Chunk 399
---
 | New price per ADS |  Equivalent Ordinary 
 Shares (400 ordinary 
      shares per ADS) 
               Number |
| October 2019 warrants              |                  375 |            $10,000 |              $320 |              150,000 |
| May 2020  warrants                 |                  406 |             $3,280 |              $320 |              162,400 |

| * | Number and original                                                                                                                
 price of warrants have been adjusted to reflect the share consolidation and ratio change of ADS’s to ordinary shares that occurred 
 on 2 March 2020 and 24 March 2023 and the ratio change of ADS’s to ordinary shares on 26 September 2022 and 5 July 2023.           |

| F-58 |

| 18 | Derivative financial liability – current (continued) |

DARA warrants and share options

The Group also assumed
fully vested warrants and share options on the acquisition of DARA Biosciences, Inc. (which took place in 2015). The number of ordinary
shares to be issued when exercised is fixed, however the exercise prices are denominated in US Dollars. The warrants are classified equity
settled derivative financial liabilities and accounted for in the same way as those detailed above. The financial liability is valued
using the Black-Scholes option pricing model. The exercise price of the outstanding options is $1,903.40.

The following table
details the outstanding warrants over ADSs and ordinary shares as at 31 December and also the movement in the year:

| Schedule of warrants outstanding |     |         |     |        |   |     |           |   |     |          |     |        |   |     |          |     |        |   |     |           |     |           |
|                                  |     |    At 1 
 January 
    2021 |     | Lapsed |   |     | Exercised |   |     |    At 31 
 December 
     2021 |     | Lapsed |   |     |    At 31 
 December 
     2022 |     | Lapsed |   |     |   Granted |     |     At 31 
  December 
      2023 |
| ADSs                             |     |         |     |        |   |     |           |   |     |          |     |        |   |     |          |     |        |   |     |           |     |           |
| December