Company: BDRX
Filing Date: 2025-05-08
Form Type: POS AM
Source: 0001214659-25-007196
Chunk: 78

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-05-08
Form: POS AM
Chunk 78
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 in receivership, have filed for bankruptcy and/or are otherwise in restructuring,
administration or liquidation, and in any such case the deposited securities are not listed and publicly traded on a securities exchange
after the termination date, or if, for any reason, the depositary believes it is not able to or cannot practicably sell the deposited
securities promptly and without undue effort, the deposited securities shall be deemed to have no value (and such holder shall be deemed
to have instructed the depositary that the deposited securities have no value). The depositary may (and, by holding an ADR or an interest
therein, all holders irrevocably consent and agree that the depositary may) instruct its custodian to deliver all deposited securities
to us (acting, as applicable by an administrator, receiver, administrative receiver, liquidator, provisional liquidator, restructuring
officer, interim restructuring officer, trustee, controller or other entity overseeing the bankruptcy, insolvency, administration, restructuring
or liquidation process) and notify us that the deposited securities are surrendered for no consideration. The Deposit Agreement requires
us, subject to applicable law, to promptly accept the surrender of the deposited securities for no consideration and deliver to the depositary
a written notice confirming (A) the acceptance of the surrender of the deposited securities for no consideration and (B) the cancellation
of such deposited securities. Promptly after notifying us that the deposited securities are surrendered for no consideration and irrespective
of whether we haves complied with the immediately preceding sentence, the depositary shall notify ADR holders that their Depositary Shares
have been cancelled with no consideration being payable to such ADR holders.

Upon the depositary's compliance
with the provisions of any of the above three paragraphs, the depositary and its agents shall be discharged from all, and cease to have
any, obligations under the Deposit Agreement and the ADRs.

If our Ordinary Shares are
listed and publicly traded on a securities exchange and the depositary believes that it is able, permissible and practicable to sell the
deposited securities without undue effort, then the depositary may endeavor to publicly or privately sell (as long as it may lawfully
do so) the deposited securities, which sale may be effected in a block sale/single lot transaction and, after the settlement of such sale(s),
to the extent legally permissible and practicable, distribute or hold in an account (which may be a segregated or unsegregated account)
the net proceeds of such sale(s), less