Company: BDRX
Filing Date: 2025-01-17
Form Type: F-1
Source: 0001214659-25-000922
Chunk: 284

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-17
Form: F-1
Chunk 284
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 failure to obtain the action; or                                                                                              
 ·     state                                                                                                                                   
 the reasons for not making the effort.                                                                                                        
 Additionally, the plaintiff must remain a stockholder                                                                                         
 through the duration of the derivative suit. The action will not be dismissed or compromised without the approval of the Delaware Court       
 of Chancery.                                                                                                                                  |

| 144 |

<div align='center'>DESCRIPTION OF AMERICAN DEPOSITARY SHARES</div>

Our Depositary Shares are
deposited pursuant to the Second Amended and Restated Deposit Agreement dated December 18, 2023, among the Company, JPMorgan Chase Bank,
N.A., as depositary, ands holders and beneficial owners of American Depositary Receipts, or the Deposit Agreement. The depositary registers
and delivers the Depositary Shares. Each Depositary Share represents ownership of 400 Ordinary Shares that we will deposit with
the custodian, as agent of the depositary, under the Deposit Agreement.

The depositary's office is
located at 383 Madison Avenue, Floor 11, New York, NY 10179.

The Depositary Share-to-share
ratio is subject to amendment as provided in the form of American Depositary Receipt, or ADR, (which may give rise to fees contemplated
by the form of ADR). In the future, each Depositary Share will also represent any securities, cash or other property deposited with the
depositary but which they have not distributed directly to you.

A beneficial owner is any
person or entity having a beneficial ownership interest in Depositary Shares. A beneficial owner need not be the holder of the ADR evidencing
such Depositary Share. If a beneficial owner is not an ADR holder, it must rely on the holder of the ADR(s) evidencing such Depositary
Shares in order to assert any rights or receive any benefits under the Deposit Agreement. A beneficial owner shall only be able to exercise
any right or receive any benefit under the Deposit Agreement solely through the holder of the ADR(s) evidencing the Depositary Shares
owned by such beneficial owner. The arrangements between a beneficial owner and the holder of the corresponding ADRs may affect the beneficial
owner's ability to exercise any rights it may have.

An ADR holder shall be deemed
to have all requisite authority to act on behalf of any and all beneficial owners of the Depositary Shares evidenced by the ADRs registered
in such ADR holder's name for all purposes under the Deposit Agreement and ADRs