Company: BDRX
Filing Date: 2025-11-17
Form Type: F-1
Source: 0001214659-25-016821
Chunk: 104

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-11-17
Form: F-1
Chunk 104
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nominees are intended to be, and shall at all times during the term of the Deposit Agreement be, the record holder(s) only of the deposited
securities represented by the Depositary Shares for the benefit of the ADR holders. The depositary, on its own behalf and on behalf of
the custodian and their respective nominees, disclaims any beneficial ownership interest in the deposited securities held on behalf of
the ADR holders.

Upon each deposit of Ordinary
Shares, receipt of related delivery documentation and compliance with the other provisions of the Deposit Agreement, including the payment
of the fees and charges of the depositary and any taxes or other fees or charges owing, the depositary will issue an ADR or ADRs in the
name or upon the order of the person entitled thereto evidencing the number of Depositary Shares to which such person is entitled. All
of the Depositary Shares issued will, unless specifically requested to the contrary, be part of the depositary’s direct registration
system, and a registered holder will receive periodic statements from the depositary which will show the number of Depositary Shares registered
in such ADR holder’s name. An ADR holder can request that the Depositary Shares not be held through the depositary’s direct
registration system and that a certificated ADR be issued.

How do ADR holders cancel a Depositary Share and obtain deposited securities?

When you turn in your ADR
certificate at the depositary’s office, or when you provide proper instructions and documentation in the case of direct registration
Depositary Shares, subject to the provisions of or governing our Ordinary Shares (including, without limitation, our governing documents
and all applicable laws, rules and regulations), the depositary will, upon payment of certain applicable fees, charges and taxes, deliver
the underlying Ordinary Shares to you or upon your written order. Delivery of deposited securities in certificated form will be made at
the custodian’s office (or from the custodian to the extent dematerialized). At your risk, expense and request, the depositary may
deliver deposited securities (including any certificates therefor) at such other place as you may request.

The depositary may only restrict the withdrawal of deposited securities
in connection with:

| · | temporary delays caused by closing our transfer books or those of the depositary or the deposit of Ordinary 
 Shares in connection with voting at a shareholders’ meeting, or the payment of dividends;                   |

| · | the payment of fees, taxes