Company: BDRX
Filing Date: 2025-05-12
Form Type: 424B3
Source: 0001214659-25-007342
Chunk: 110

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-05-12
Form: 424B3
Chunk 110
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 effect for such year, together with an interest
charge in respect of the tax attributable to each such year. Similar rules apply to the extent any distribution in respect of PFIC shares
exceeds 125% of the average annual distribution on such PFIC securities received by the shareholder during the preceding three years or
holding period, whichever is shorter. With certain exceptions, a foreign corporation is treated as a PFIC with respect to a shareholder
(or warrant holder, as applicable) if the corporation was a PFIC with respect to such holder at any time during the holder’s holding
period of the foreign corporation’s stock or warrants. Dividends paid to with respect to shares of a PFIC are not eligible for the
special tax rates applicable to qualified dividend income of certain non-corporate holders. Instead, such dividend income is taxable at
rates applicable to ordinary income.

If
we were to be treated as a PFIC, the tax consequences described above could be avoided by a “mark-to-market” election with
respect to the Depositary Shares. A United States holder making a “mark-to-market” election (assuming the requirements for
such an election are satisfied) generally would (i) be required to include as ordinary income the excess of the fair market value of the
Depositary Shares on the last day of the United States holder’s taxable year over the United States holder’s adjusted tax
basis in such Depositary Shares and (ii) be allowed a deduction in an amount equal to the lesser of (A) the excess, if any, of the United
States holder’s adjusted tax basis in the Depositary Shares over the fair market value of such Depositary Shares on the last day
of the United States holder’s taxable year or (B) the excess, if any, of the amount included in income because of the election for
prior taxable years over the amount allowed as a deduction because of the election for prior taxable years. In addition, upon a sale or
other taxable disposition of Depositary Shares, a United States holder would recognize ordinary income or loss (which loss could not be
in excess of the amount included in income because of the election for prior taxable years over the amount allowed as a deduction because
of the election for prior taxable years). If we were to be treated as a PFIC, different rules would apply to a United States holder making
a QEF election with respect to Depositary Shares. However, we do not intend to prepare or provide the information necessary for United
States shareholders