Company: BDRX
Filing Date: 2025-05-08
Form Type: POS AM
Source: 0001214659-25-007201
Chunk: 99

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-05-08
Form: POS AM
Chunk 99
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 Share may be taking actions that are inconsistent with the claiming of foreign tax credits by U.S.
Holders of Depositary Shares. These actions would also be inconsistent with the claiming of the reduced rate of tax, described below,
applicable to dividends received by certain noncorporate U.S. Holders. As a result, the creditability of non-U.S. withholding
taxes (if any), and the availability of the reduced tax rate for dividends received by certain non-corporate U.S. Holders, each
described below, could be affected by actions taken by such parties or intermediaries. Accordingly, U.S. persons considering an investment
in Depositary Shares are generally taxed in the same manner as a U.S. Holder of Depositary Shares, should consult their own tax advisors
as to the particular tax consequences applicable to them relating to the purchase, ownership and disposition of Depositary Shares, including
the applicability of United States federal, state and local tax laws and non-United States tax laws.

You are urged to consult your tax advisors about the application of the United States federal income tax rules to your particular circumstances as well as the state, local, non-United States and other tax consequences of the purchase, ownership and disposition of the Depositary Shares and warrants.

Passive Foreign Investment Company Considerations

A foreign corporation is a
PFIC if either (1) 75% or more of its gross income for the taxable year is passive income or (2) the average percentage of assets held
by such corporation during the taxable year that produce passive income or that are held for the production of passive income is at least
50%. For purposes of applying the tests in the preceding sentence, the foreign corporation is deemed to own its proportionate share of
the assets, and to receive directly its proportionate share of the income, of any other corporation of which the foreign corporation owns,
directly or indirectly, at least 25% by value of the stock.

Based upon estimates with
respect to its income, assets, and operations, it is expected that we will not be a PFIC for the current taxable year. However, because
the determination of PFIC status must be made on an annual basis after the end of the taxable year and will depend on the composition
of the income and assets, as well as the nature of the activities, of our activities and those of our subsidiaries from time to time,
there can be no assurance that we will not be considered a PFIC for any taxable year.