Company: BDRX
Filing Date: 2025-05-08
Form Type: POS AM
Source: 0001214659-25-007201
Chunk: 97

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-05-08
Form: POS AM
Chunk 97
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 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 may be, but will, in practice, be payable by the participants in the clearance service or depositary receipt system.

Certain United States Taxation Matters

The following discussion describes
the material United States federal income tax considerations to U.S. Holders (as defined below) under present law of the purchase, ownership
and disposition of the Depositary Shares and the warrants. This discussion is based on the United States Internal Revenue Code of 1986,
as amended, or the Code, for purposes of this discussion, in effect as of the date of this prospectus and on United States Treasury Regulations
in effect or, in some cases, proposed, as of the date of this prospectus, as well as judicial and administrative interpretations thereof
available on or before such date. All of the foregoing authorities are subject to change, which change could apply retroactively and could
affect the tax consequences described below.

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This discussion applies only
to U.S. Holders that hold the Depositary Shares and the warrants as capital assets for United States federal income tax purposes. It does
not purport to be a comprehensive description of all tax considerations that may be relevant to a decision to purchase the Depositary
Shares and the warrants by any particular investor. In particular, this discussion does not address tax considerations applicable to a
U.S. Holder that may be subject to special tax rules, including, without limitation, a dealer in securities or currencies, a trader in
securities that elects to use a mark-to-market method of accounting for securities holdings, banks, thrifts, or other financial
institutions, an insurance company, a tax-exempt organization, a person that holds the Depositary Shares or the warrants as
part of a hedge, straddle or conversion transaction for tax purposes, a person whose functional currency for tax purposes is not the United
States dollar, certain former citizens or residents of the United States or a person that owns directly, indirectly or constructively
shares representing 10% or more of our shares by vote or value. Moreover, this description does not address the United States federal
estate, gift, or alternative minimum tax consequences, or any state, local or non-U.S. tax consequences, of the acquisition,
ownership and disposition of the Depositary