Company: BDRX
Filing Date: 2025-01-28
Form Type: 424B3
Source: 0001214659-25-001409
Chunk: 105

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-28
Form: 424B3
Chunk 105
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.S. investors
may not be able to enforce against us or our executive officers, board of directors or certain experts named herein who are residents
of the United Kingdom or countries other than the United States any judgments obtained in U.S. courts in civil and commercial matters,
including judgments under the U.S. federal securities laws.

We intend to operate so as to be treated exclusively as a resident of the United Kingdom for tax purposes, but the relevant tax authorities may treat us as also being a resident of another jurisdiction for tax purposes.

Under current English law,
the decisions of the English courts and the published practice of His Majesty’s Revenue and Customs suggest that we are likely to
be regarded as being a United Kingdom resident and should remain so if, as we intend that, (i) all major meetings of our Board of Directors
and most routine meetings are held in the United Kingdom with a majority of directors present in the United Kingdom for those meetings;
(ii) at those meetings there are full discussions of, and decisions are made regarding, the key strategic issues affecting us and our
subsidiaries; (iii) those meetings are properly minuted; (iv) at least some of our directors, together with supporting staff, are based
in the United Kingdom; and (v) we have permanent staffed office premises in the United Kingdom sufficient to discharge our functions.

Even if we are considered
by His Majesty’s Revenue and Customs as resident in the United Kingdom for United Kingdom tax purposes, as expected, we would nevertheless
not be treated as resident in the United Kingdom if (a) we were concurrently resident in another jurisdiction (applying the tax residence
rules of that jurisdiction) that has a double tax treaty with the United Kingdom and (b) there is a tiebreaker provision in that tax treaty
which allocates exclusive residence to that other jurisdiction. Because this analysis is highly factual and may depend on future changes
in our management and organizational structure, there can be no assurance regarding the final determination of our tax residence. Should
we be treated as resident for tax purposes in another jurisdiction other than the United Kingdom, we would be subject to taxation in such
jurisdiction in accordance with such jurisdiction’s laws, which could result in additional costs and expenses.

The rights of our shareholders may differ from the rights typically offered to shareholders of a U.S. corporation.

We are incorporated under
English law. The rights of holders of Ordinary Shares and, therefore, certain of the rights of holders of our Depositary Shares, are governed
by English law