Company: BDRX
Filing Date: 2025-05-01
Form Type: DRS
Source: 0001214659-25-006756
Chunk: 86

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-05-01
Form: DRS
Chunk 86
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 (a) any dividend (or any part of a dividend)                               
 payable in respect of the Default Shares shall be retained by us without liability to pay interest, (b) the shareholder may not be entitled  
 to elect to receive shares instead of a dividend, and (c) no transfers by the relevant member of any Default Shares may be registered        
 (unless the member himself is not in default and the transfer does not relate to Default Shares, the transfer is exempt or that the transfer 
 is permitted under the U.K. Uncertificated Securities Regulations 2001).                                                                     |

Purchase of Own Shares

Under English law, a limited company may
only purchase or redeem its own shares out of the distributable profits of the company or the proceeds of a fresh issue of shares made
for the purpose of financing the purchase, provided that they are not restricted from doing so by their articles. A limited company may
not purchase or redeem its own shares if, as a result of the purchase, there would no longer be any issued shares of the company other
than redeemable shares or shares held as treasury shares. Shares must be fully paid in order to be repurchased.

Subject to the above, we may purchase our
own shares in the manner prescribed below. We may make a market purchase of our own fully paid shares pursuant to an ordinary resolution
of shareholders. The resolution authorizing the purchase must:

| · | specify the maximum number of shares authorized to be acquired; |

| · | determine the maximum and minimum prices that may be paid for the shares; and |

| · | specify a date, not being later than five years after the passing of the resolution, on which the authority 
 to purchase is to expire.                                                                                   |

We may purchase our own fully paid shares
otherwise than on a recognized investment exchange pursuant to a purchase contract authorized by resolution of shareholders before the
purchase takes place. Any authority will not be effective if any shareholder from whom we propose to purchase shares votes on the resolution
and the resolution would not have been passed if he had not done so. The resolution authorizing the purchase must specify a date, not
being later than five years after the passing of the resolution, on which the authority to purchase is to expire.

Distributions and Dividends

Under the Companies Act, before a company
can lawfully make a distribution or dividend, it must ensure that it has sufficient distributable reserves (on a non-consolidated basis).
The basic rule is that a company’s profits available for the purpose