Company: RNLXY
Filing Date: 2025-07-30
Form Type: 424B3
Source: 0001193805-25-001128
Chunk: 21

Company: Renalytix plc
Filing Date: 2025-07-30
Form: 424B3
Chunk 21
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 to receive the proposed distribution in cash or in additional
ADSs. If a Holder elects to receive the distribution in cash, the distribution shall be made as in the case of a distribution in cash.
If the Holder hereof elects to receive the distribution in additional ADSs, the distribution shall be made as in the case of a distribution
in Shares upon the terms described in the Deposit Agreement. If such elective distribution is not reasonably practicable or if the Depositary
did not receive satisfactory documentation set forth in the Deposit Agreement, the Depositary shall establish an ADS Record Date upon
the terms of Section 4.9 of the Deposit Agreement and, to the extent permitted by law, distribute to Holders, on the basis of the same
determination as is made in England and Wales in respect of the Shares for which no election is made, either (x) cash or (y) additional
ADSs representing such additional Shares, in each case, upon the terms described in the Deposit Agreement. Nothing herein or in the Deposit
Agreement shall obligate the Depositary to make available to the Holder hereof a method to receive the elective distribution in Shares
(rather than ADSs). There can be no assurance that the Holder hereof will be given the opportunity to receive elective distributions on
the same terms and conditions as the holders of Shares. Notwithstanding anything contained in the Deposit Agreement to the contrary, in
the event the Company fails to give the Depositary timely notice of the proposed distribution provided for above, the Depositary agrees
to use commercially reasonable efforts to perform the actions contemplated in Section 4.3 of the Deposit Agreement, and the Company, the
Holders and the Beneficial Owners acknowledge that the Depositary shall have no liability for the Depositary’s failure to perform
the actions contemplated in Section 4.3 of the Deposit Agreement where such notice has not been so timely given, other than its failure
to use commercially reasonable efforts, as provided herein.

(d) Distribution of Rights to Purchase Additional ADSs: Upon the timely receipt by the Depositary of a notice indicating that the Company wishes rights
to subscribe for additional Shares to be made available to Holders of ADSs, the Depositary upon consultation with the Company, shall determine,
whether it is lawful and reasonably practicable to make such rights available to the Holders. The Depositary shall make such rights available
to any Holders only if (i) the Company shall have timely requested that such rights be made available to Holders