Company: BDRX
Filing Date: 2025-01-17
Form Type: F-1
Source: 0001214659-25-000922
Chunk: 237

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-17
Form: F-1
Chunk 237
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 certain affiliates of the CMS Stockholders, entered
a Relationship Agreement, or the Relationship Agreement, in order to regulate our relationships with the CMS and its affiliated entities,
collectively the CMS Parties, and to limit their influence over our corporate actions and activities and the outcome of general matters
pertaining to the Company. The Relationship Agreement was effective from February 26, 2019. The Relationship Agreement was subsequently
amended on May 12, 2020 and April 15, 2022.

Pursuant to the terms of the
Relationship Agreement, the CMS Parties have agreed to (amongst other things):

| • | conduct all transactions with us on an arm’s length terms and on a normal commercial basis, including in accordance with the              
 related party rules set out in the AIM Rules and any other applicable laws, regulations and stock exchange rules, and only with the prior 
 approval of a majority of independent directors;                                                                                          |

| • | exercise their voting rights or other rights and powers so as to ensure that each member of their respective Groups is capable of         
 carrying on its business and making decisions independently of each of the CMS Parties (and any of their group companies and associates); 
 and                                                                                                                                       |

| • | abstain from voting in respect of any resolution concerning any contract, arrangement or transaction with a related party of each 
 of the CMS Parties (or any of their associates).                                                                                  |

We further agreed to conduct
all transactions, agreements and relationships (whether contractual or otherwise) with the CMS Parties (and any of their group companies
and associates) on arm’s length terms and on a normal commercial basis and in accordance with the related party rules set out in
the AIM Rules.

The Relationship Agreement
provides that any respective dispute between the Company and the CMS Parties and/or any of their respective associates relating to any
existing or proposed transaction, arrangement or agreement between each of CMS Parties (or any of their associates) and the Company shall
be resolved by a decision of the majority of independent directors.

| 117 |

The obligations of the parties
under the Relationship Agreement shall automatically terminate upon:

| • | the CMS Parties (or any of their associates) ceasing to beneficially hold 10%, in aggregate, of our issued Ordinary Shares; or |

| • | the Ordinary Shares ceasing to be admitted to AIM. |

In connection with the closing
of a private placement on February 15, 2023, the CMS Parties beneficially owned less than 10%, in aggregate, of