Company: BDRX
Filing Date: 2025-11-17
Form Type: POS AM
Source: 0001214659-25-016809
Chunk: 62

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-11-17
Form: POS AM
Chunk 62
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 or the Isle of Man). This is known as the “residency test”.
The way in which the test for central management and control is applied for the purposes of the City Code may be different from the way
in which it is applied by the United Kingdom tax authorities, HMRC. Under the City Code, the Panel typically considers where the majority
of the directors of the Company are resident, amongst other factors, for the purposes of determining where the Company has its place
of central management and control. Three of the five directors of the Company are currently resident in the United Kingdom and the place
of central management and control of the Company is intended, for the time being, to remain in the United Kingdom meaning that the Company
and its shareholders will have the benefit of the protections that the City Code affords, including, but not limited to, under Rule 9
of the City Code as set out below.

The City Code is issued and administered
by the Panel. The City Code provides a framework within which takeovers of companies subject to it are conducted. In particular, the City
Code contains certain rules in respect of mandatory offers. Under Rule 9 of the City Code, if a person:

| · | acquires an interest in our shares which, when taken together with shares in which he or persons acting 
 in concert with him are interested, carries 30% or more of the voting rights of our shares; or          |

| · | who, together with persons acting in concert with him, is interested in shares that in the aggregate carry                                 
 not less than 30% and not more than 50% of the voting rights in us, acquires additional interests in shares that increase the percentage   
 of shares carrying voting rights in which that person is interested, the acquirer, and depending on the circumstances, its concert parties 
 would be required (except with the consent of the Panel) to make a cash offer for our outstanding shares at a price not less than the      
 highest price paid for any interests in the shares by the acquirer or its concert parties during the previous 12 months.                   |

Notwithstanding the above, the Company
may cease to be subject to the City Code in the future if there are any changes that lead to the Company being deemed to no longer have
its place of central management and control in the United Kingdom, Channel Islands or the Isle of Man.

Exchange Controls

There are no governmental laws, decrees,
regulations or other legislation in the United Kingdom that may affect