Company: BDRX
Filing Date: 2025-01-17
Form Type: F-1
Source: 0001214659-25-000922
Chunk: 289

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-17
Form: F-1
Chunk 289
---
, or the net proceeds from the sale thereof, thereby reducing
the amount so held. If exchange rates fluctuate during a time when the depositary cannot convert a foreign currency, you may lose some
or all of the value of the distribution.

| · | Shares. In the case of a distribution in Ordinary Shares, the depositary will issue additional                                                
 ADRs to evidence the number of Depositary Shares representing such Ordinary Shares. Only whole Depositary Shares will be issued. Any Ordinary 
 Shares that would result in fractional Depositary Shares will be sold and the net proceeds of the public or private sales of such will        
 be distributed in the same manner as cash to the ADR holders entitled thereto.                                                                |

| 146 |

| · | Rights to receive additional Ordinary Shares. In the case of a distribution of rights to subscribe                                           
 for additional Ordinary Shares or other rights, if we timely provide evidence satisfactory to the depositary that it may lawfully distribute 
 such rights, the depositary will distribute warrants or other instruments in the discretion of the depositary representing such rights.      
 However, if we do not timely furnish such evidence, the depositary may:                                                                      |

(i) sell
such rights if practicable and distribute the net proceeds of the public or private sales of such rights in the same manner as cash to
the ADR holders entitled thereto; or

(ii) if
it is not practicable to sell such rights by reason of the non-transferability of the rights, limited markets therefor, their short duration
or otherwise, do nothing and allow such rights to lapse, in which case ADR holders will receive nothing and the rights may lapse.

We have no obligation to file a registration
statement under the Securities Act in order to make any rights available to ADR holders.

| · | Other Distributions. In the case of a distribution of securities or property other than those described                                 
 above, the depositary may either (i) distribute such securities or property in any manner it deems equitable and practicable or (ii) to 
 the extent the depositary deems distribution of such securities or property not to be equitable and practicable, sell such securities   
 or property and distribute any net proceeds of public or private sales in the same way it distributes cash.                             |

| · | Elective Distributions. In the case of a dividend payable at the election of our shareholders in                                               
 cash or in additional Ordinary Shares, we will notify the depositary at least 30 days prior to the proposed