Company: BDRX
Filing Date: 2025-05-01
Form Type: DRS
Source: 0001214659-25-006756
Chunk: 27

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-05-01
Form: DRS
Chunk 27
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Since
inception, we have never declared or paid any cash dividends on our Ordinary Shares and do not anticipate paying any cash dividends on
our Ordinary Shares or the Depositary Shares in the foreseeable future. We intend to retain all available funds and any future earnings
to fund the development and expansion of our business. As a result, investors in the Ordinary Shares and Depositary Shares will benefit
in the foreseeable future only if the Ordinary Shares and Depositary Shares appreciate in value.

Any
determination to pay dividends in the future would be at the discretion of our Board of Directors and will depend upon our results of
operations, cash requirements, financial condition, contractual restrictions, and any future debt agreements and is subject to compliance
with applicable laws, including the Companies Act 2006 (as amended from time to time) of the United Kingdom, or the Companies Act, which
requires English companies to have profits available for distribution equal to or greater than the amount of the proposed dividend.

| 17 |

<div align='center'>CAPITALIZATION</div>

The following table sets forth
our capitalization as of December 31, 2024:

| · | on an actual basis; |

| · | on a pro forma basis to give effect to the sale and issuance, subsequent to December 31, 2024 through                                     
 the date of this registration statement, of (i) 17,398,000,000 Ordinary Shares, pursuant to the ELOC, resulting in gross proceeds of $4.9 
 million, and (ii) 1,533,490,000 Ordinary Shares in satisfaction of a commitment fee in connection with the ELOC; and                      |

| · | on a pro forma as-adjusted basis to give effect to the sale by us of       Units in this offering at an assumed                               
 combined public offering price of $      per Unit, assuming (i) no sale of any Pre-Funded Units and (ii) no exercise of the Series L Warrants 
 and the Underwriter Warrants, after deducting the estimated underwriting discounts and commissions and estimated offering expenses.           |

The adjusted amounts shown
below are unaudited and represent management’s estimate. The pro forma information set forth in the table below is illustrative
only and will be adjusted based on the actual public offering price and other terms of this offering determined at pricing. The information
in this table should be read in conjunction with and is qualified by reference to the financial statements and notes thereto and other
financial