Company: BDRX
Filing Date: 2025-09-26
Form Type: F-3
Source: 0001214659-25-014255
Chunk: 57

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-09-26
Form: F-3
Chunk 57
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 exchange pursuant to a purchase contract authorized by resolution of shareholders
before the purchase takes place. Any authority will not be effective if any shareholder from whom we propose to purchase shares votes
on the resolution and the resolution would not have been passed if he had not done so. The resolution authorizing the purchase must specify
a date, not being later than five years after the passing of the resolution, on which the authority to purchase is to expire.

Distributions and Dividends

Under the Companies Act, before
a company can lawfully make a distribution or dividend, it must ensure that it has sufficient distributable reserves (on a non-consolidated
basis). The basic rule is that a company’s profits available for the purpose of making a distribution are its accumulated, realized
profits, so far as not previously utilized by distribution or capitalization, less its accumulated, realized losses, so far as not previously
written off in a reduction or reorganization of capital duly made. The requirement to have sufficient distributable reserves before a
distribution or dividend can be paid applies to us and to each of our subsidiaries that has been incorporated under English law.

It is not sufficient that
we, as a public company, have made a distributable profit for the purpose of making a distribution. An additional capital maintenance
requirement is imposed on us to ensure that the net worth of the company is at least equal to the amount of its capital. A public company
can only make a distribution:

| · | if, at the time that the distribution is made, the amount of its net assets (that is, the total excess                  
 of assets over liabilities) is not less than the total of its called up share capital and undistributable reserves; and |

| · | if, and to the extent that, the distribution itself, at the time that it is made, does not reduce the 
 amount of the net assets to less than that total.                                                     |

City Code on Takeovers and Mergers

The Company is a public limited company incorporated in, and with its
registered office in, the United Kingdom but its securities are not admitted to trading on a regulated market or multilateral trading
facility in the United Kingdom (or a stock exchange in the Channel Islands or the Isle of Man). The City Code shall only apply to the
Company if it is considered by the Panel on Takeovers and Mergers, or the Panel, to have its place of central management and control in
the United Kingdom (or the Channel Islands or the Isle