Company: BDRX
Filing Date: 2025-05-08
Form Type: POS AM
Source: 0001214659-25-007201
Chunk: 16

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-05-08
Form: POS AM
Chunk 16
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the exercise price set forth in the applicable warrant.

We expect that the selling
shareholders will sell their Ordinary Shares represented by Depositary Shares as described under “Plan of Distribution.”

| 12 |

<div align='center'>DIVIDEND POLICY</div>

Since
inception, we have never declared or paid any cash dividends on our Ordinary Shares and do not anticipate paying any cash dividends on
our Ordinary Shares or the Depositary Shares in the foreseeable future. We intend to retain all available funds and any future earnings
to fund the development and expansion of our business. As a result, investors in the Ordinary Shares and Depositary Shares will benefit
in the foreseeable future only if the Ordinary Shares and Depositary Shares appreciate in value.

Any
determination to pay dividends in the future would be at the discretion of our Board of Directors and will depend upon our results of
operations, cash requirements, financial condition, contractual restrictions, and any future debt agreements and is subject to compliance
with applicable laws, including the Companies Act of 2006 (as amended from time to time) of the United Kingdom, or the Companies Act,
which requires English companies to have profits available for distribution equal to or greater than the amount of the proposed dividend.

| 13 |

<div align='center'>CAPITALIZATION</div>

The following table sets forth
our capitalization as of December 31, 2024. The information in this table should be read in conjunction with our “Management Discussion
and Analysis of Financial Condition and Results of Operations” and our consolidated financial statements and notes thereto and other
financial information incorporated by reference into this prospectus.

| (£ in thousands)          |     | As of December 31, 2024 |       |
|:--------------------------|:----|:------------------------|------:|
| Cash and cash equivalents |     |                         | 1,669 |
| Long-term debt            |     |                         |   118 |
| Total equity              |     |                         | 8,322 |
| Total capitalization      |     |                         | 8,440 |

The table above does not include, as of December
31, 2024:

| · | 328,823,388 Ordinary Shares issuable upon the exercise of stock options outstanding under our equity incentive plans at a weighted-average 
 exercise price of £0.005 per share;                                                                                                        |

| · | 99 Ordinary Shares issuable upon the exercise of stock options in connection with the acquisition of Dara (