Company: BDRX
Filing Date: 2025-01-17
Form Type: F-1
Source: 0001214659-25-000922
Chunk: 375

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-17
Form: F-1
Chunk 375
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| · | excluding the impact of any service and non-market performance vesting conditions (for example, remaining an employee of the entity 
 over a specified time period); and                                                                                                  |

| · | including the impact of any non-vesting conditions (for example, the requirement for employees to save). |

Non-market performance
and service conditions are included in assumptions about the number of options that are expected to vest. The total expense is recognised
over the vesting period, which is the period over which all of the specified vesting conditions are to be satisfied. Where vesting conditions
are

| F-36 |

| 1 | Accounting policies (continued) |

Share-based payments
(continued)

accelerated on the occurrence
of a specified event, such as a change in control or initial public offering, such remaining unvested charge is accelerated
to the income statement.

In addition, in some
circumstances employees may provide services in advance of the grant date and therefore the grant date fair value is estimated for the
purposes of recognising the expense during the period between service commencement period and grant date.

At the end of each reporting
period, the Group revises its estimates of the number of options that are expected to vest based on the non-market vesting conditions.
It recognises the impact of the revision to original estimates, if any, in the income statement, with a corresponding adjustment to equity.
When the options are exercised, the Company issues new shares. The proceeds received net of any directly attributable transaction costs
are credited to share capital (nominal value) and share premium.

The Group also issues
warrants over ADSs to certain professional advisors in connection with equity transactions that fall within the scope of IFRS2 and are
accounted for as share based payments. The fair value of the services received in exchange for the grant of the warrant is recognised
as an expense of the equity transaction. The total expense is recognised immediately.

Leases

Identifying Leases

The Group accounts for a contract, or a portion of a contract, as a lease when it conveys the right to use an asset for a period of time in exchange for consideration. Leases are those contracts that satisfy the following criteria:

(a) There is an identified asset;

(b) The Group obtains substantially all the economic benefits from use of the asset; and

(c) The Group has the right to direct use of the asset.

The Group considers whether the supplier has substantive substitution rights. If the supplier does have