Company: BDRX
Filing Date: 2025-05-08
Form Type: POS AM
Source: 0001214659-25-007201
Chunk: 103

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-05-08
Form: POS AM
Chunk 103
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for or on account of United Kingdom tax.

Notwithstanding the paragraph
above, if 50% or more of the Depositary Shares are treated as held by United States persons, we will be treated as a “U.S.-owned
foreign corporation.” In that case, dividends may be treated for United States. foreign tax credit purposes as income from sources
outside the United States to the extent paid out of our non-United States source earnings and profits, and as income from sources
within the United States to the extent paid out of our United States source earnings and profits. There can be no assurance that we will
not be treated as a United States-owned foreign corporation. If the dividends are taxed at the lower tax rates generally applicable to
long-term capital gains (as discussed above), the amount of the dividend taken into account for purposes of calculating the United States
foreign tax credit limitation will generally be limited to the gross amount of the dividend, multiplied by the preferential rate divided
by the highest rate of tax normally applicable to dividends. The rules relating to the determination of the foreign tax credit are complex,
and U.S. Holders are urged to consult their tax advisors to determine whether and to what extent such U.S. Holder will be entitled to
a foreign tax credit.

Taxation of Dispositions of Depositary Shares. Subject to the discussion above under “—Passive Foreign Investment Company Considerations”,
a U.S. Holder will recognize taxable gain or loss on any sale, exchange or other taxable disposition of a Depositary Share equal to the
difference between the amount realized (the amount of cash (in U.S. dollars) plus the fair market value of any property received) for
the Depositary Share and such U.S. Holder’s tax basis (in U.S. dollars) in the Depositary Share. The gain or loss will generally
be capital gain or loss. Such capital gain or loss generally will be long-term capital gain taxable at a reduced rate for non-corporate U.S.
Holders or long-term capital loss if, on the date of sale, exchange or other disposition, the Depositary Shares were held by the U.S.
Holder for more than one year. The deductibility of capital losses is subject to limitations. Any such gain or loss generally will be
treated as United States source income or loss for United States foreign tax credit purposes.

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Taxation of Warrants

Exercise of Warrants.
A U.S. Holder should not recognize gain or loss on the