Company: BDRX
Filing Date: 2025-12-11
Form Type: F-1/A
Source: 0001214659-25-017944
Chunk: 133

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-12-11
Form: F-1/A
Chunk 133
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 the lower rates of taxation with respect to dividends on Depositary Shares or Pre-Funded Warrants applicable
to long term capital gains (i.e., gains from the sale of capital assets held for more than one year), provided that certain conditions
are met, including certain holding period requirements and the absence of certain risk reduction transactions. However, such reduced rate
shall not apply if we are a PFIC for the taxable year in which we pay a dividend, or were a PFIC in the preceding taxable year. As indicated
in the section titled “Dividend Policy” herein, we intend to retain any earnings for use in our business and do not
currently intend to pay dividends on our Ordinary Shares.

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Subject to the paragraph below,
dividends generally will constitute income from sources outside the United States, which may be relevant in calculating a U.S. Holder’s
foreign tax credit limitation. For this purpose, dividends that we distribute generally should constitute “passive category income,”
or, in the case of certain U.S. Holders, “general category income.” Dividend payments may be made without withholding or deduction
for or on account of United Kingdom tax.

Notwithstanding the paragraph
above, if 50% or more of the Depositary Shares or Pre-Funded Warrants are treated as held by United States persons, we will
be treated as a “U.S.-owned foreign corporation.” In that case, dividends may be treated for United States. foreign tax credit
purposes as income from sources outside the United States to the extent paid out of our non-United States source earnings and
profits, and as income from sources within the United States to the extent paid out of our United States source earnings and profits.
There can be no assurance that we will not be treated as a United States-owned foreign corporation. If the dividends are taxed at the
lower tax rates generally applicable to long-term capital gains (as discussed above), the amount of the dividend taken into account for
purposes of calculating the United States foreign tax credit limitation will generally be limited to the gross amount of the dividend,
multiplied by the preferential rate divided by the highest rate of tax normally applicable to dividends. The rules relating to the determination
of the foreign tax credit are complex, and U.S. Holders are urged to consult their tax advisors to determine whether and to what extent
such U.S. Holder will be entitled to a foreign tax credit.

Taxation of Dispositions of Depositary Shares or Pre-Funded W