Company: BDRX
Filing Date: 2025-05-01
Form Type: DRS
Source: 0001214659-25-006756
Chunk: 140

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-05-01
Form: DRS
Chunk 140
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 the exercise
price of Series L Warrants made pursuant to a bona fide reasonable adjustment formula that has the effect of preventing
dilution of the interest of the holders of the Series L Warrants should generally not be considered to result in a constructive distribution.
Any such constructive distribution would be taxable whether or not there is an actual distribution of cash or other property. (See above
for a more detailed discussion of the rules applicable to distributions made by us in the section entitled “Dividends and Other Distributions on the Depositary Shares and Pre-Funded Warrants”).

Disposition of Foreign Currency

U.S. Holders are urged to consult their
tax advisors regarding the tax consequences of receiving, converting or disposing of any non-U.S. currency received as dividends
on our Depositary Shares, Pre-Funded Warrants, or Series L Warrants or on the sale or retirement of a Depositary Share, Pre-Funded Warrants,
or Series L Warrants.

Tax on Net Investment Income

An additional 3.8%
Medicare tax may be imposed on some or all of such U.S. Holder’s “net investment income.” Net investment income generally
includes income from the Depositary Shares unless such income is derived in the ordinary course of the conduct of a trade or business
(other than a trade or business that consists of certain passive or trading activities). You should consult your tax advisors regarding
the effect this Medicare tax may have, if any, on your acquisition, ownership or disposition of the Depositary Shares, the Pre-Funded Warrants,
and the Series L Warrants.

Information Reporting and Backup Withholding

Distributions with
respect to Depositary Shares or Pre-Funded Warrants and proceeds from the sale, exchange or disposition of Depositary Shares, Pre-Funded Warrants,
or Series L Warrants may be subject to information reporting to the IRS, and possible U.S. backup withholding. Backup withholding will
not apply, however, to a U.S. Holder who furnishes a correct taxpayer identification number and makes any other required certification
or who is otherwise exempt from backup withholding. U.S. Holders who are required to establish their exempt status generally must provide
such certification on U.S. Internal Revenue Service Form W-9. U.S. Holders are urged to consult their tax advisors regarding
the application of the United States information reporting and backup withholding rules.

Backup withholding
is not an additional tax. Amounts withheld as backup withholding may be credited against a U.S. Holder’s United States