OKYO Pharma Limited Receives Nasdaq Deficiency Notice New York

Pharma Limited Receives Nasdaq Deficiency Notice

York, July 28, 2023 - OKYO Pharma Limited (Nasdaq: OKYO) ("OKYO" or the "Company"), an

ophthalmology-focused bio-pharmaceutical company which is developing OK-101 to treat dry eye disease (DED) to address the significant

unmet need in this multi-billion-dollar market, today announced that it received a deficiency letter from the Listing Qualifications

Department (the "Staff") of the Nasdaq Stock Market ("Nasdaq") notifying OKYO that, for the previous 30 consecutive

business days, the market value of OKYO's ordinary shares had closed below the minimum $35 million requirement for continued inclusion

on the Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(b)(2) (the "Market Value Rule").

Nasdaq deficiency letter has no immediate effect on the listing of OKYO's ordinary shares on the Nasdaq Capital Market.

accordance with Nasdaq Listing Rule 5810(c)(3)(C) (the "Compliance Period Rule"), OKYO has been provided an initial period

of 180 calendar days, or until January 22, 2024 (the "Compliance Date"), to regain compliance with the Market Value Rule. If,

at any time before the Compliance Date, the market value of OKYO's ordinary shares is $35 million or more for a minimum of 10 consecutive

business days, as required under the Compliance Period Rule, the Staff will provide written notification to OKYO that it complies with

the Market Value Rule.

if OKYO does not regain compliance with the Market Value Rule by the Compliance Date, then Nasdaq will provide notice to OKYO that its

ordinary shares will be subject to delisting. At that time, OKYO may appeal the Staff's delisting determination to a Nasdaq Listing Qualifications

Panel (the "Panel"). OKYO expects that its ordinary shares would remain listed pending the Panel's decision. There can be no

assurance that, if OKYO does appeal the Staff's delisting determination to the Panel, such appeal would be successful.

Pharma Limited (Nasdaq: OKYO) is a life sciences company focusing on the discovery and development of novel molecules to treat inflammatory

dry eye diseases and chronic pain. For further information, please visit www.okyopharma.com.

statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather

are based on the Company's current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such

as anticipates,' expects,' intends,' plans,' believes,' seeks,' estimates,' and similar expressions are intended to identify forward-looking

statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and

other factors, some of which are beyond the Company's control, are difficult to predict, and could cause actual results to differ materially

from those expressed or forecasted in the forward-looking statements. The Company cautions security holders and prospective security

holders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of

this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements

are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements

to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or

by any appropriate regulatory authority.

further information, please visit the Company's website at www.okyopharma.com