Company: BDRX
Filing Date: 2025-05-01
Form Type: DRS
Source: 0001214659-25-006756
Chunk: 130

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-05-01
Form: DRS
Chunk 130
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. It does not purport to be a comprehensive description of all tax considerations
that may be relevant to a decision to purchase the Depositary Shares, the Pre-Funded Warrants, and the Series L Warrants by
any particular investor. In particular, this discussion does not address tax considerations applicable to a U.S. Holder that may be subject
to special tax rules, including, without limitation, a dealer in securities or currencies, a trader in securities that elects to use a mark-to-market method
of accounting for securities holdings, banks, thrifts, or other financial institutions, an insurance company, a tax-exempt organization,
a person that holds the Depositary Shares, the Pre-Funded Warrants, or the Series L Warrants as part of a hedge, straddle or
conversion transaction for tax purposes, a person whose functional currency for tax purposes is not the United States dollar, certain
former citizens or residents of the United States or a person that owns directly, indirectly or constructively shares representing 10%
or more of our shares by vote or value. Moreover, this description does not address the United States federal estate, gift, or alternative
minimum tax consequences, or any state, local or non-U.S. tax consequences, of the acquisition, ownership and disposition of
the Depositary Shares, the Pre-Funded Warrants, or the Series L Warrants. In addition, the discussion does not address tax consequences
to an entity or arrangement treated as a partnership or other pass-through entity for U.S. federal income tax purposes that holds the
Depositary Shares, the Pre-Funded Warrants, or the Series L Warrants, or a partner in or owner of such partnership or other
pass-through entity. The United States federal income tax treatment of each partner of such partnership or owner of such pass-through
entity generally will depend upon the status of the partner or owner and the activities of the partnership or other pass-through
entity. Prospective purchasers that are partners in a partnership or owners of a pass-through entity holding the Depositary Shares, the Pre-Funded Warrants,
or the Series L Warrants are urged to consult their own tax advisers.

The discussion below of theUnited States federal income tax consequences to “U.S. Holders” will apply to an investor that is a beneficial owner ofDepositary Shares, Pre-Funded Warrants, or Series L Warrants and that is, forUnited States federal income tax purposes:

| · | an individual who is a citizen or resident of the United