Company: BDRX
Filing Date: 2025-05-01
Form Type: DRS
Source: 0001214659-25-006756
Chunk: 109

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-05-01
Form: DRS
Chunk 109
---
 shall
have (i) resigned as depositary under the Deposit Agreement, notice of such termination by the depositary shall not be provided to registered
ADR holders unless a successor depositary shall not be operating under the Deposit Agreement within sixty (60) days of the date of such
resignation, and (ii) been removed as depositary under the Deposit Agreement, notice of such termination by the depositary shall not be
provided to registered holders of ADRs unless a successor depositary shall not be operating under the Deposit Agreement on the 60th day
after our notice of removal was first provided to the depositary. Notwithstanding anything to the contrary in the Deposit Agreement, the
depositary may terminate the Deposit Agreement (a) without notifying us, but subject to giving thirty (30) days’ notice to the ADR
holders, under the following circumstances: (i) in the event of our bankruptcy, liquidation proceedings or insolvency, (ii) if our Depositary
Shares are delisted from a “national securities exchange” (that has registered with the Commission under Section 6 of the
Securities Exchange Act of 1934, as amended), (iii) if we effect (or will effect) a redemption of all or substantially all of the deposited
securities, or a cash or share distribution representing a return of all or substantially all of the value of the deposited securities,
(iv) there are no deposited securities with respect to Depositary Shares remaining, including if the deposited securities are cancelled,
or the deposit securities have been deemed to have no value, or (v) there occurs a merger, consolidation, sale of assets or other transaction
as a result of which securities or other property are delivered in exchange for or in lieu of deposited securities, and (b) immediately
without prior notice to the Company, any ADR holder or beneficial owner or any other person if (i) required by any law, rule or regulation
relating to sanctions by any governmental authority or body, (ii) the depositary would be subject to liability under or pursuant to any
law, rule or regulation, or (iii) required by any governmental authority or body, in each case under (b) as determined by the depositary
in its reasonable discretion.

If our Ordinary Shares are not listed and
publicly traded on a stock exchange or in a securities market as of the date so fixed for termination or if, for any reason, the depositary
does not sell the deposited securities, then after