Biodexa Sets July 29 Vote on 1-for-10,000 Reverse Split and £25M Share Authorization

summarizeSummary

Biodexa Pharmaceuticals has called a July 29 shareholder meeting to vote on a 1-for-10,000 reverse stock split and a £25 million share authorization, just days after a similar reverse split proposal was rejected.

check_boxKey Events · Corporate Governance and Compliance · BDRX

• New Reverse Split Vote Set for July 29

  Shareholders will vote on a 1-for-10,000 reverse stock split, consolidating every 10,000 existing ordinary shares into one new ordinary share, after a previous reverse split proposal was rejected on June 30.

• £25 Million Share Authorization Sought

  Resolution 2 seeks authority to allot shares up to an aggregate nominal value of £25,000,000, providing flexibility for acquisitions and financings through 2029.

• Pre-emption Rights Waiver Proposed

  Resolution 3 would allow the board to issue shares for cash without first offering them to existing shareholders, up to the same £25 million nominal limit.

• Share Capital Reorganization Details

  The reorganization would reduce outstanding ordinary shares from ~452 billion to ~45.2 million New Ordinary Shares, with the ADS ratio changing from 500,000:1 to 50:1, leaving ADS count unchanged.

auto_awesomeAnalysis · BDRX · Life Sciences

Just nine days after shareholders rejected a 1-for-10,000 reverse split, Biodexa is making another attempt to shrink its bloated share count. The new proposal couples the reverse split with a sweeping £25 million share authorization and a waiver of pre-emption rights — effectively handing the board a blank check to issue shares for acquisitions and financings through 2029. For a company with a market cap barely above $1 million, that authority is enormous and could fund transformative deals or deeply dilutive survival raises. The vote is set for July 29; if it fails again, the company remains stuck with over 452 billion shares outstanding and limited financing flexibility.