Company: BDRX
Filing Date: 2025-05-12
Form Type: 424B3
Source: 0001214659-25-007342
Chunk: 111

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-05-12
Form: 424B3
Chunk 111
---
 to make a QEF election.

United
States holders are urged to consult their own tax advisors about the PFIC rules, including the availability of the “mark-to-market”
election.

3.8% Medicare Tax on “Net Investment Income”

A 3.8% tax, or “Medicare
Tax,” is imposed on all or a portion of “net investment income,” which may include any gain realized or amounts received
with respect to Depositary Shares received by (i) United States holders that are individuals with modified adjusted gross income in excess
of certain thresholds, and (ii) certain estates and trusts. United States holders should consult their own tax advisors with respect to
the applicability of the Medicare Tax resulting from ownership or disposition of Depositary Shares.

Information Reporting and Backup Withholding

United States holders may
be subject to information reporting requirements and may be subject to backup withholding with respect to dividends on Depositary Shares
and on the proceeds from the sale, exchange, or disposition of Depositary Shares, currently at a rate of 24%, unless the United States
holder provides an accurate taxpayer identification number and complies with certain certification procedures or otherwise establishes
an exemption from backup withholding. Backup withholding is not an additional tax and amounts withheld may be allowed as a credit against
the United States holder’s United States federal income tax liability and may entitle the United States holder to a refund, provided
that certain required information is timely furnished to the IRS.

Sale of Depositary Shares, Warrants, or Pre-funded Warrants

A United States holder will
generally recognize gain or loss on any sale, exchange, redemption, or other taxable disposition of Depositary Shares in an amount equal
to the difference between the amount realized on the disposition and such holder’s tax basis in such securities. Subject to the
discussion below under “—Passive Foreign Investment Company Rules,” any gain or loss recognized by a United States
holder on a taxable disposition of Depositary Shares will generally be capital gain or loss and will be long-term capital gain or loss
if the holder’s holding period in such share exceeds one year at the time of the disposition. The deductibility of capital losses
is subject to limitations.

For a cash basis taxpayer,
units of foreign currency received will generally be translated into United States dollars at the spot rate on the settlement date of
the sale. In that case, no foreign currency exchange gain or loss will result from currency fluctuations between the trade date and the
settlement date of such sale. An accr