AGM/EGMMay 14, 2026, 04:03 PM
Biodexa Pharma to Reorganize Share Capital at June 17 AGM
AI Summary
Biodexa Pharmaceuticals Plc announced its Annual General Meeting (AGM) will be held on June 17, 2026, to consider several resolutions, including a significant reorganization of its share capital. The proposed changes aim to rationalize the company's share capital by reducing the number of ordinary shares outstanding without affecting shareholders' rights or proportionate ownership. This involves a reverse split, subdivision of shares, and an adjustment to the ordinary share to American Depositary Share (ADS) ratio, which the Board unanimously recommends shareholders approve.
Key Highlights
- Annual General Meeting (AGM) scheduled for June 17, 2026, at 11:00 a.m. London time.
- Company had 373,056,808,922 ordinary shares and 746,113 ADSs outstanding as of May 6, 2026.
- Proposed reverse split (consolidation) of every 10,000 existing ordinary shares into one new ordinary share of 0.01 nominal value.
- Each consolidated ordinary share to be subdivided into one new ordinary share of 0.000001 and 9,999 E deferred shares.
- Ordinary share / ADS ratio to change from 500,000:1 to 50:1, maintaining 746,113 ADSs.
- Ratio change effective June 18, 2026, if resolutions 8 and 11 pass.
- Board unanimously recommends shareholders vote in favor of all resolutions.
- Resolutions 8 and 11 (articles change for E deferred shares) are inter-conditional.
Price Impact
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