Company: BDRX
Filing Date: 2025-05-08
Form Type: POS AM
Source: 0001214659-25-007201
Chunk: 101

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-05-08
Form: POS AM
Chunk 101
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 on the last day of the
U.S. holder’s taxable year over the U.S. holder’s adjusted tax basis in such Depositary Shares and (ii) be allowed a deduction
in an amount equal to the lesser of (A) the excess, if any, of the U.S. holder’s adjusted tax basis in the Depositary Shares over
the fair market value of such Depositary Shares on the last day of the U.S. holder’s taxable year or (B) the excess, if any, of
the amount included in income because of the election for prior taxable years over the amount allowed as a deduction because of the election
for prior taxable years. In addition, upon a sale or other taxable disposition of Depositary Shares, a U.S. holder would recognize ordinary
income or loss (which loss could not be in excess of the amount included in income because of the election for prior taxable years over
the amount allowed as a deduction because of the election for prior taxable years). If we were to be treated as a PFIC, different rules
would apply to a U.S. holder making a QEF election with respect to Depositary Shares. However, we do not intend to prepare or provide
the information necessary for U.S. holders to make a QEF election.

| 66 |

If we are a PFIC for any taxable
year during which a U.S. Holder holds the Depositary Shares, the Pre-Funded Warrants, or the Series L Warrants, each such U.S.
Holder generally will be required to file an annual information return on IRS Form 8621 containing such information as the United States
Treasury Department may require. The failure to file IRS Form 8621 could result in the imposition of penalties and the extension of the
statute of limitations with respect to United States federal income tax.

The United States federal
income tax rules relating to PFICs are complex. U.S. Holders are urged to consult their tax advisors with respect to the purchase, ownership
and disposition of the Depositary Shares, the Pre-Funded Warrants, and the Series L Warrants, the availability of the mark-to-market election
and whether making the election would be advisable in their particular circumstances, and the IRS information reporting obligations with
respect to the purchase, ownership and disposition of the Depositary Shares, the Pre-Funded Warrants, and the Series L Warrants.

Taxation of the Depositary Shares

Dividends and Other Distributions on the Depositary Shares.