Incanthera plc (AQSE: INC), the specialist oncology company focused on innovative technologies in dermatology and oncology announces the extension of the term of the Warrant Instrument issued to ImmuPharma plc.
Amendment to Warrant Instrument
On 26 February 2020, prior to the Company’s admission to the AQSE Growth Market, the Company entered into a warrant agreement with Immupharma plc entitling Immupharma plc to subscribe for 7,272,740 ordinary shares (“Warrants”) at an exercise price of £0.095 per ordinary share valid until 06 September 2023.
As per the Company’s announcement of 13 March 2023 in which the Company announced it had agreed to vary the terms of certain warrants issued in conjunction with a placing, the board of the Company has also proposed extending the exercise period of the Warrants by one year in order to treat ImmuPharma plc on the same basis. The exercise price remains unchanged as at the point of issue.
The Warrants were originally valid until 06 September 2023 exercisable at £0.095. The term of the Warrants has now been extended to 06 September 2024 still exercisable at a price of £0.095.
The variation of the terms of the Warrants constitutes a related party transaction pursuant to Rule 4.6 of the AQSE Growth Market Access Rulebook (the "Transaction"). The Directors of the Company independent of the Transaction confirm that, having exercised reasonable care, skill and diligence, the related party transaction is fair and reasonable insofar as the shareholders of Incanthera are concerned.
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 information please contact:
Incanthera plc
www.incanthera.com
Simon Ward, Chief Executive Officer
+44 (0) 7747 625506
simon.ward@incanthera.com
Suzanne Brocks, Head of Communications
+44 (0) 7776 234600
suzanne.brocks@incanthera.com
AQSE Corporate Adviser:
Cairn Financial Advisers LLP
Jo Turner/Ludo Lazzaretti
+44 (0) 20 7213 0880
Broker:
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