Share Options

The Group has issued options over ordinary shares under the 2014 Biodexa Pharmaceuticals PLC Enterprise Management Incentive Scheme and unapproved share options awarded to non-UK staff and Directors. In addition, certain share options originally issued over shares in Biodexa Limited under the Biodexa Limited 2008 unapproved share option scheme or Biodexa Limited 2013 approved Enterprise Incentive scheme were reissued in 2015 over shares in Biodexa Pharmaceuticals PLC under the 2014 Biodexa Pharmaceuticals PLC Enterprise Management Incentive Scheme, all remaining re-issued share options lapsed during 2024. Exercise of an option is subject to continued employment.

At a General Meeting on 11 June 2024, shareholders approved a share sub-division and re-designation of the Company’s Ordinary Shares. As a result, the par value of the Ordinary Shares was changed from £0.00005 per share to £0.000001 per share.

Details of all share options granted under the Schemes are set out below:

The following information is relevant in the determination of the fair value of options granted during the year 2024 under the equity share based remuneration schemes operated by the Group.

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.

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 employed by the Group for three years from the date of acquisition. All shares purchased by the BPSIP are held by an Employee Benefit Trust that is not under the control of Biodexa. Shares must be left in the plan for 5 years to qualify for full income tax and NIC relief.

On 24 April 2023 the Company terminated the Trust and requested the Trustees distribute the assets of the Trust to the relevant Group employees.

Warrants issued in lieu of fees

The Company issues warrants over ADSs to certain its brokers in lieu of broker fees connected to the equity transactions in the year. The warrants are accounted for as share based payments.

The following information is relevant in the determination of the fair value of warrants granted during the year 2025.

The following information is relevant in the determination of the fair value of warrants granted during the year 2024.

The following information is relevant in the determination of the fair value of warrants granted during the year 2023.

Number and original price of warrants have been adjusted to reflect the ratio change of ADS’s to ordinary shares that occurred on 5 July 2023, 4 October 2024 and 31 July 2025.