Biodexa Plans 1-for-10,000 Reverse Split Creating 373 Billion E Deferred Shares, Resets ADS Ratio
At its June 17 AGM, Biodexa proposes a 1-for-10,000 reverse share split, cutting issued ordinary shares from 373.06 billion to 37.31 million and creating 373.02 billion E deferred shares while preserving nominal capital. It will reset its ADS ratio from 500,000:1 to 50:1 effective June 18, keeping 746,113 ADSs outstanding.
1. AGM Resolutions Overview
Biodexa has scheduled its Annual General Meeting for June 17 at 11:00 UTC, where shareholders will vote on corporate actions including a share consolidation, share subdivision with E deferred share creation, and an ADS ratio adjustment. The Board unanimously recommends approval of Resolutions 8 and 11, which are interdependent for the capital reorganization.
2. Share Capital Reorganization Details
Resolution 8.a proposes a 1-for-10,000 reverse split, reducing ordinary shares from 373,056,808,922 to 37,305,681 and increasing the nominal value of consolidated shares to £0.01. Resolution 8.b subdivides each consolidated share into one new £0.000001 ordinary share and 9,999 E deferred shares, resulting in 373,019,504,319 deferred shares while maintaining the same aggregate nominal capital.
3. ADS Ratio Adjustment and Timing
Following the capital restructuring, Biodexa will change its ADS conversion ratio from 500,000:1 to 50:1 to preserve approximately 746,113 ADSs outstanding. This ratio reset is contingent on the passage of the share capital resolutions and will take effect on June 18, 2026, ensuring no change in ADS count or shareholder percentages.