The Company advises that, further to its announcement of 13 March 2023, the investment of £115,000 by Dr. Simon Ward, a director of the Company, has been delayed as a result of administrative reasons by Dr. Ward's pension provider's platform. As a result of the delay in remitting funds to the Company, admission of the shares subscribed for by Dr. Ward ("Investment Shares") to the AQSE Growth market ("Admission") has been postponed until such time as funds are received. The directors of the Company and Dr. Ward's pension provider are working to resolve the matter and it is expected that the investment will be able to be completed shortly.
Included in the initial application for Admission of the Investment Shares were 1,079,138 new ordinary shares, issued at the same price as the Investment Shares of 6.95 pence per share, to service providers in lieu of contractual amounts owed totalling approximately £75,000 ("Fee Shares"). The Company will proceed with the Admission of the Fee Shares, which will become effective at 08:00 a.m. on 30 March 2023
A further announcement will be made in due course on Admission of the Investment Shares.
Following Admission of the Fee Shares, the Company's enlarged issued share capital will comprise 77,464,166 ordinary shares of 2 pence each. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in the interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018).
For further enquiries:
Tim McCarthy, Chairman
+44 (0) 7831 675747
Simon Ward, Chief Executive Officer
+44 (0) 7747 625506
Suzanne Brocks, Head of Communications
+44 (0) 7776 234600
Aquis Exchange Corporate Adviser:
Cairn Financial Advisers LLP
Jo Turner/Ludo Lazzaretti
+44 (0) 20 7213 0880
Stanford Capital Partners Ltd
Patrick Claridge/Tom Price/John Howes/Bob Pountney
+44 (0) 20 3650 3650
Notes to Editors
Incanthera is dedicated to innovative technologies in dermatology and oncology. It seeks to identify and commercialise inspirational therapeutics combined with uniquely targeted delivery systems, for innovative solutions to clinical, commercially relevant unmet needs.
The Company's current lead product and focus is Sol, a potentially innovative topical product for the treatment of solar keratosis and the prevention of skin cancers. The Company is currently focussed upon delivering Sol to a commercial partner.
Originating from the Institute of Cancer Therapeutics ("ICT") at the University of Bradford, the Company has acquired and developed a portfolio of specific cancer-targeting therapeutics, with a strategy to develop each candidate from initial acquisition/discovery to commercially valuable partnerships at the earliest opportunity in its development pathway.
For more information on the Company please visit: www.incanthera.com