Company: RNLXY
Filing Date: 2025-07-30
Form Type: 424B3
Source: 0001193805-25-001128
Chunk: 20

Company: Renalytix plc
Filing Date: 2025-07-30
Form: 424B3
Chunk 20
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 of U.S. counsel determining that Shares must be registered under the Securities Act or other laws in order to be distributed
to Holders (and no such registration statement has been declared effective), the Depositary may dispose of all or a portion of such property
(including Shares and rights to subscribe therefor) in such amounts and in such manner, including by public or private sale, as the Depositary
deems necessary and practicable, and the Depositary shall distribute the net proceeds of any such sale (after deduction of (a) applicable
taxes required to be withheld and (b) fees and charges of, and the expenses incurred by, the Depositary) to Holders entitled thereto
upon the terms of Section 4.1 of the Deposit Agreement. The Depositary shall hold and/or distribute any unsold balance of such property
in accordance with the provisions of the Deposit Agreement. Notwithstanding anything contained in the Deposit Agreement to the contrary,
in the event the Company fails to give the Depositary timely notice of the proposed distribution provided for above, the Depositary agrees
to use commercially reasonable efforts to perform the actions contemplated in Section 4.2 of the Deposit Agreement, and the Company, the
Holders and the Beneficial Owners acknowledge that the Depositary shall have no liability for the Depositary’s failure to perform
the actions contemplated in Section 4.2 of the Deposit Agreement where such notice has not been so timely given, other than its failure
to use commercially reasonable efforts, as provided herein.

(c) Elective Distributions in Cash or Shares: Upon the timely receipt of a notice indicating that the Company wishes an elective distribution in cash or
Shares to be made available to Holders of ADSs upon the terms described in the Deposit Agreement, the Company and the Depositary shall
determine in accordance with the Deposit Agreement whether such distribution is lawful and reasonably practicable. The Depositary shall
make such elective distribution available to Holders only if (i) the Company shall have timely requested that the elective distribution
be made available to Holders, (ii) the Depositary shall have determined that such distribution is reasonably practicable and (iii)
the Depositary shall have received satisfactory documentation within the terms of Section 5.7 of the Deposit Agreement. If the above conditions
are satisfied, the Depositary shall, subject to the terms and conditions of the Deposit Agreement, establish the ADS Record Date according
to paragraph (16) and establish procedures to enable the Holder hereof to elect