Company: BLRX
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001178913-25-001123
Chunk: 263

Company: BioLineRx Ltd.
Filing Date: 2025-03-31
Form: 20-F
Item: Item 8
Chunk 263
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31, 2025, and it is possible that we will be a PFIC for the taxable year ending December 31,
2025 or in any subsequent year. For a discussion of the rules that would apply if we are treated as a PFIC, see the discussion under “ - 
Passive Foreign Investment Company.”

Distributions. We have
no current plans to pay dividends. To the extent we pay any dividends, a U. S. Investor will be required to include in gross income as
a taxable dividend the amount of any distributions made on the ordinary shares or ADSs, including the amount of any Israeli taxes withheld,
when actually or constructively received, to the extent that those distributions are paid out of our current or accumulated earnings and
profits as determined for U. S. federal income tax purposes. Any distributions in excess of our earnings and profits will be applied against
and will reduce the U. S. Investor’s tax basis in its ordinary shares or ADSs and to the extent they exceed that tax basis, will
be treated as gain from the sale or exchange of those ordinary shares or ADSs. We do not intend to calculate our earnings and profits
under U. S. federal income tax principles. Therefore, a U. S. Investor should expect that a distribution will be treated as a dividend even
if that distribution would otherwise be treated as a non-taxable return of capital or as capital gain under the rules described above.
If we were to pay dividends to holders of our ordinary shares, we expect to pay such dividends in NIS; however, dividends paid to holders
of our ADSs will be paid in dollars. A dividend paid in NIS, including the amount of any Israeli taxes withheld, will be includible in
a U. S. Investor’s income as a dollar amount calculated by reference to the exchange rate in effect on the date such dividend is
received, regardless of whether the payment is in fact converted into dollars. If the dividend is converted to dollars on the date of
receipt, a U. S. Investor generally will not recognize a foreign currency gain or loss. However, if the U. S. Investor converts the NIS
into dollars on a later date, the U. S. Investor must include, in computing its income, any gain or loss resulting from any exchange rate
fluctuations. The gain or loss will be equal to the difference between (i) the dollar value of the amount included in income when the
dividend was received and (ii)