Company: BDRX
Filing Date: 2025-01-17
Form Type: F-1
Source: 0001214659-25-000922
Chunk: 104

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-17
Form: F-1
Chunk 104
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 order to maintain our current status as a foreign private issuer, either (1) a majority of our voting
securities must be either directly or indirectly owned of record by non-residents of the United States or (2)(a) a majority of our
executive officers or directors cannot be U.S. citizens or residents, (b) more than 50% of our assets must be located outside the
United States and (c) our business must be administered principally outside the United States.

If we lose our status as a
foreign private issuer, we would be required to comply with the Exchange Act reporting and other requirements applicable to U.S. domestic
issuers, which are more detailed and extensive than the requirements for foreign private issuers. We may also be required to make changes
in our corporate governance practices in accordance with various SEC and NASDAQ rules. The regulatory and compliance costs to us under
U.S. securities laws if we are required to comply with the reporting requirements applicable to a U.S. domestic issuer may be significantly
higher than the cost we would incur as a foreign private issuer. As a result, we expect that a loss of foreign private issuer status would
increase our legal and financial compliance costs and would make some activities highly time consuming and costly. We also expect that
if we were required to comply with the rules and regulations applicable to U.S. domestic issuers, it would make it more difficult and
expensive for us to obtain director and officer liability insurance, and we may be required to accept reduced coverage or incur substantially
higher costs to obtain coverage. These rules and regulations could also make it more difficult for us to attract and retain qualified
members of our Board of Directors.

As a foreign private issuer, we are not required to comply with many of the corporate governance standards of NASDAQ applicable to companies incorporated in the United States.

Our Board of Directors is
required to maintain an audit committee comprised solely of three or more directors satisfying the independence standards of NASDAQ applicable
to audit committee members. As a foreign private issuer, however, we are not required to comply with most of the other corporate governance
rules of NASDAQ, including the requirement to maintain a majority of independent directors, and nominating and compensation committees
of our Board of Directors comprised solely of independent directors. Although United Kingdom corporate governance rules which we abide
by have comparable requirements, holders of Depositary Shares may not be afforded the benefits of the corporate governance standards of
NASDAQ to the same extent applicable to companies incorporated in the United