Company: BDRX
Filing Date: 2025-04-11
Form Type: 20-F
Source: 0001214659-25-005742
Chunk: 82

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-04-11
Form: 20-F
Item: Item 19
Chunk 82
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 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 $8,771,300.00.

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                                                                                      
  ADSs                                                                                                                  
  July 2024 grant                       –        –        –            –            –             426,376      426,376  
  May 2024 grant                        –        –        –            –            –             242,163      242,163  
  December 2023 grant                   –        –        239,994      239,994      ( 16,027                    52,658  
  May 2023 grant                        –        –        11,059       11,059       –             –             11,059  
  May 2020 grant                        30       30       –            30           –             –                 30  
  October 2019 grant                    15       15       –            15           –             –                 15  
  Ordinary shares                                                                                                       
  Dara warrants                         204      –        –            –            –             –                  –  
  Dara options                          138      138      –            128          ( 29          –                 99  

  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 24 March 2023 and the ratio change of ADS’s  
  to ordinary shares on 26 September 2022, 5 July 2023 and 4 October 2024.                                                           
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20Financial
instruments - risk management

The Group is exposed through its operations
to the following financial risks:

  Credit risk  

  Foreign exchange risk  
 ─────────────────────────

  Liquidity risk  

This note describes the Group’s
policies and processes for managing those risks. The policy for managing these risks is reviewed and agreed with the Board, however it
has delegated the authority for designing and operating processes that ensure the effective management of the risks to the Group’s
management.

Principal financial instruments

The principal financial instruments
used by