Company: BDRX
Filing Date: 2025-01-28
Form Type: 424B3
Source: 0001214659-25-001409
Chunk: 321

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-28
Form: 424B3
Chunk 321
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 ordinary share is transferred (i) to, or to a nominee for, a person whose business is or includes the provision of clearance services
or (ii) to, or to a nominee for a person whose business is or includes issuing depositary receipts and that transfer is not integral
to the raising of new capital by the company, stamp duty or SDRT would generally be chargeable at the rate of 1.5% of the amount or value
of the consideration given or, in certain circumstances, the value of the shares.

There
is an exception from the 1.5% charge on the transfer to, or to a nominee, a clearance service where the clearance service has made and
maintained an election under section 97A(1) of the Finance Act 1986, which has been approved by HMRC. If such an election were made by
a clearance service, SDRT at the rate of 0.5% of the amount or value of the consideration payable for the transfer would arise on any
transfer of an ordinary share into such a clearance service and on subsequent agreements to transfer such share within such clearance
service. It is our understanding that DTC has not to date made an election under section 97A(1) of the Finance Act of 1986.

Any liability for stamp duty or SDRT in respect of a transfer into a clearance service or depositary receipt system, or in respect of a transfer within such a service, which does arise, will strictly be accountable to HMRC by the clearance service or depositary receipt system operator or their nominee, as the case may be, but will, in practice, be payable by the participants in the clearance service or depositary receipt system.

Certain United States Taxation Matters

The following is a summary
of material United States federal income tax consequences of the ownership and disposition of Depositary Shares by United States holders
(as defined below). This summary is for general information only and is not tax advice. Each investor should consult its tax advisor with
respect to the tax consequences of the ownership and disposition of our securities.

This summary is based on provisions
of the Internal Revenue Code of 1986, as amended, or the Code, United States Treasury regulations promulgated thereunder (whether final,
temporary, or proposed), administrative rulings, and judicial interpretations thereof, and the Convention Between the Government of the
United Kingdom of Great Britain and Northern Ireland and the Government of the United States of America for the Avoidance of Double Taxation
and