Company: BDRX
Filing Date: 2025-01-17
Form Type: F-1
Source: 0001214659-25-000922
Chunk: 351

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-17
Form: F-1
Chunk 351
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 – 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
the profit and loss account (‘FVTPL’). The financial liability is valued using the Black-Scholes model. Financial liabilities
at FVTPL are stated at fair value, with any gains or losses arising on re-measurement recognised in profit or loss. The net gain or loss
recognised in profit or loss incorporates any interest paid on the financial liability and is included in the ‘finance income’
or ‘finance expense’ lines item in the income statement. A key input in the valuation of the instrument is the Company share
price.

Details of the
warrants are as follows:

May 2024 warrants

In May 2024 the
Company issued 2,359,012 Series G ADS Warrants and 3,695,218 Series H ADS Warrants as part of the Warrant Inducement Transaction. The
exercise price per ADS is $2.50.

December