Company: BDRX
Filing Date: 2025-05-12
Form Type: 424B3
Source: 0001214659-25-007342
Chunk: 108

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-05-12
Form: 424B3
Chunk 108
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 United
States Treasury Department has determined that the United States-U.K. Treaty meets these requirements. We would not constitute a qualified
foreign corporation for purposes of these rules if we are a passive foreign investment company for the taxable year in which we pay a
dividend or for the preceding taxable year, as discussed below under “—Passive Foreign Investment Company Rules.”

Subject to certain conditions
and limitations, non-United States taxes, if any, withheld on dividends paid by the Company may be treated as foreign taxes eligible for
a credit against a United States holder’s United States federal income tax liability under the United States foreign tax credit
rules. The rules governing the United States foreign tax credit are complex, and United States holders should consult their tax advisors
regarding the availability of the United States foreign tax credit under their particular circumstances.

Sale of Depositary Shares

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 accrual basis taxpayer may elect to apply the same rules applicable to cash basis taxpayers with respect
to the sale of ADRs that are traded on an established securities market, provided that the election must be applied consistently from
year to year and cannot be changed without the consent of the IRS. For an accrual method taxpayer who does not make such an election,
units of foreign currency received will generally be translated into United States dollars at the spot rate on the trade date of the sale.
Such an accrual basis taxpayer may recognize foreign currency exchange gain or loss based on currency fluctuations between the trade date
and the settlement date of such sale. In general, any such gain or loss will be