Company: BDRX
Filing Date: 2025-05-12
Form Type: 424B3
Source: 0001214659-25-007342
Chunk: 106

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-05-12
Form: 424B3
Chunk 106
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 income taxation that may be relevant to a holder in light of its particular circumstances, or that may apply
to holders that are subject to special treatment under the United States federal income tax laws (including, for example, banks, financial
institutions, underwriters, insurance companies, dealers in securities or foreign currencies, traders in securities who elect the mark-to-market
method of accounting for their securities, persons subject to the alternative minimum tax, persons that have a functional currency other
than the United States dollar, tax-exempt organizations (including private foundations), mutual funds, subchapter S corporations, partnerships
or other pass-through entities for United States federal income tax purposes, certain expatriates, corporations that accumulate earnings
to avoid United States federal income tax, persons who hold Depositary Shares as part of a hedge, straddle, constructive sale, conversion
or other integrated transaction, persons who acquire Depositary Shares through the exercise of options or other compensation arrangements,
persons who own (or are treated as owning) 10% or more of our outstanding voting stock, or persons who are not United States holders).
In addition, this discussion does not address any aspect of state, local, foreign, estate, gift or other tax law that may apply to holders
of Depositary Shares.

The United States federal
income tax treatment of a partner in a partnership (including any entity or arrangement treated as a partnership for United States federal
income tax purposes) generally will depend on the status of the partner and the activities of the partnership. A partner in such a partnership
should consult its tax advisor regarding the associated tax consequences.

Consequences Relating to Ownership and Disposition of Depositary Shares

Ownership of Depositary Shares. For United States federal income tax purposes, a holder of Depositary Shares will generally be treated as if such holder directly
owned the ordinary shares represented by such Depositary Shares.

Distributions on Depositary Shares. Subject to the discussion below under “—Passive Foreign Investment Company Rules,” the gross
amount of any distribution on Depositary Shares (including withheld taxes, if any) made out of our current or accumulated earnings and
profits (as determined for United States federal income tax purposes) will generally be taxable to a United States holder as dividend
income on the date such distribution is actually or constructively received. Any such dividends paid to corporate United States holders
generally will not qualify for the dividends received deduction that may otherwise be allowed under the Code. Distributions in excess
of our current and accumulated earnings and profits would generally