Corporate ActionMay 14, 2026, 08:32 AM
Biodexa Proposes Share Capital Reorganization at AGM
AI Summary
Biodexa Pharmaceuticals Plc has issued a letter to shareholders detailing proposals for a share capital reorganization at its upcoming Annual General Meeting on June 17, 2026. The plan aims to rationalize the company's exceptionally large number of ordinary shares by implementing a reverse split, subdivision, and creating E deferred shares, without affecting shareholder rights, proportionate ownership, or the number of ADSs outstanding. The Board unanimously recommends shareholders vote in favor of these resolutions, which will be effective June 18, 2026, if passed.
Key Highlights
- AGM on June 17, 2026, to vote on share capital reorganization proposals.
- Current outstanding ordinary shares: 373,056,808,922.
- Current outstanding ADSs: approximately 746,113 (500,000:1 ratio).
- Proposal to consolidate every 10,000 existing ordinary shares into one new ordinary share.
- New ordinary shares after consolidation: 37,305,681.
- Change ordinary share / ADS ratio from 500,000:1 to 50:1.
- Reorganization aims to reduce ordinary shares without impacting ADSs or ownership.
- Board unanimously recommends shareholders vote in favor of all resolutions.