Company: BLRX
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001178913-25-001123
Chunk: 270

Company: BioLineRx Ltd.
Filing Date: 2025-03-31
Form: 20-F
Item: Item 8
Chunk 270
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. S. Investor, and any
loss in excess of such amount will be treated as capital loss. Amounts treated as ordinary income will not be eligible for the favorable
tax rates applicable to qualified dividend income or long-term capital gains.

Generally, stock will be considered marketable stock if it is “regularly
traded” on a “qualified exchange” within the meaning of applicable Treasury Regulations. A class of stock is regularly
traded on an exchange during any calendar year during which such class of stock is traded, other than in de
minimisquantities, on at least 15 days during each calendar quarter. To be marketable stock, our ordinary shares or ADSs must
be regularly traded on a qualifying exchange (i) in the United States that is registered with the SEC or a national market system established
pursuant to the Exchange Act or (ii) outside the United States that is properly regulated and meets certain trading, listing, financial
disclosure and other requirements. A mark-to-market election will not apply to our ordinary shares or ADSs held by a U. S. Investor for
any taxable year during which we are not a PFIC, but will remain in effect with respect to any subsequent taxable year in which we become
a PFIC unless our ordinary shares or ADSs cease to be marketable. A mark-to-market election generally may not be revoked without the consent
of the IRS. Such election will not apply to any PFIC subsidiary that we own. Each U. S. Investor is encouraged to consult its own tax advisor
with respect to the availability and tax consequences of a mark-to-market election with respect to our ordinary shares or ADSs.

100

Default PFIC Rules. A U. S.
Investor who does not make a timely QEF election or a mark-to-market election, referred to in this disclosure as a “ Non-Electing
U. S. Investor,” will be subject to special rules with respect to (a) any “excess distribution” (generally, the portion
of any distributions received by the Non-Electing U. S. Investor on the ordinary shares or ADSs in a taxable year in excess of 125% of
the average annual distributions received by the Non-Electing U. S. Investor in the three preceding taxable years, or, if shorter, the
Non-Electing U. S. Investor’s holding period for the ordinary shares or ADSs), and (b) any gain realized on the sale