Company: BDRX
Filing Date: 2025-05-12
Form Type: 424B3
Source: 0001214659-25-007342
Chunk: 104

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-05-12
Form: 424B3
Chunk 104
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 be charged to United Kingdom
SDRT at 1.5% where that issue or transfer is an integral part of a raising of new capital.

It
was announced as part of the United Kingdom Budget 2017 by the United Kingdom government that the 1.5% stamp duty and SDRT charge will
not be enforced on the issue of shares by United Kingdom incorporated companies (and transfers of such shares where the transfer is integral
to new capital raising) into clearance services and depositary receipt systems following Brexit. However, the United Kingdom government
could potentially introduce new United Kingdom legislation with the effect that a future issue or transfer of our Ordinary Shares into
a clearance service or depositary receipt system (even where such an issue or transfer is an integral part of the raising of new capital
by the company) may potentially become chargeable to 1.5% stamp duty or SDRT.

Where
an ordinary share is transferred (i) to, or to a nominee for, a person whose business is or includes the provision of clearance services
or (ii) to, or to a nominee for a person whose business is or includes issuing depositary receipts and that transfer is not integral
to the raising of new capital by the company, stamp duty or SDRT would generally be chargeable at the rate of 1.5% of the amount or value
of the consideration given or, in certain circumstances, the value of the shares.

There
is an exception from the 1.5% charge on the transfer to, or to a nominee, a clearance service where the clearance service has made and
maintained an election under section 97A(1) of the Finance Act 1986, which has been approved by HMRC. If such an election were made by
a clearance service, SDRT at the rate of 0.5% of the amount or value of the consideration payable for the transfer would arise on any
transfer of an ordinary share into such a clearance service and on subsequent agreements to transfer such share within such clearance
service. It is our understanding that DTC has not to date made an election under section 97A(1) of the Finance Act of 1986.

Any liability for stamp duty or SDRT in respect of a transfer into a clearance service or depositary receipt system, or in respect of a transfer within such a service, which does arise, will strictly be accountable to HMRC by the clearance service or depositary receipt system operator or their nominee, as the case