TIDMINC
RNS Number : 3582A
Incanthera PLC
29 September 2020
29 September 2020
Incanthera plc
("Incanthera" or the "Company")
Completion of Subscription Agreements
Incanthera plc (AQSE: INC), the specialist oncology company
focused on transforming cancer treatment, is pleased to announce
that the subscription agreements entered into with Tim McCarthy and
ImmuPharma PLC ("ImmuPharma") at the time of its IPO onto AQSE
Growth Market ("AQSE") have been satisfied in full. As a result,
the Company has now received additional subscription proceeds of
GBP350,000 and will issue 3,684,211 new ordinary shares
("Subscription Shares").
ImmuPharma, an existing shareholder in the Company, has executed
its subscription agreement in the sum of GBP250,000 for 2,631,579
ordinary shares of 2p each at a subscription price equal to the IPO
price of 9.5p each.
Following this subscription, ImmuPharma plc will hold 9,904,319
shares in the Company, representing 15.35% of the enlarged share
capital of the Company.
The terms of Tim McCarthy's subscription agreement enabled Tim
McCarthy to procure other persons to subscribe in his place. As a
result, the following directors and other employees of the Company
(as detailed below) have agreed to subscribe for a total of
GBP100,000 for, in aggregate, 1,052,632 ordinary shares of 2p each
at a subscription price equal to the IPO price of 9.5p each.
Name Subscription Total Holding Holding as %
Shares of Ordinary Shares of Enlarged Issued
Share Capital
Tim McCarthy 315,790 3,882,264 6.01%
------------- -------------------- --------------------
Simon Ward 484,209 2,652,606 4.11%
------------- -------------------- --------------------
Suzanne Brocks 210,527 275,594 0.43%
------------- -------------------- --------------------
Pawel Zolnierczyk 21,053 658,237 1.02%
------------- -------------------- --------------------
Alan Warrander 21,053 104,320 0.16%
------------- -------------------- --------------------
Total 1,052,632 7,573,021
------------- -------------------- --------------------
Application will shortly be made for the Subscription Shares to
be admitted to trading on AQSE. It is anticipated that admission to
AQSE will occur on or around 2 October 2020.
The Subscription Shares of 3,684,211 represent 5.71% of the
Company's enlarged issued share capital.
For the purposes of the Disclosure Guidance and Transparency
Rules of the Financial Conduct Authority ("DTR"), the Board of
Incanthera hereby notifies the market that following admission, the
Company's total issued share capital will consist of 64,544,121
ordinary shares with a nominal value of 2p each per share.
This figure may be used by shareholders as the denominator for
the calculations by which they may determine if they are required
to notify their interests in, or a change to their interests in the
Company under the DTR.
Commenting on the announcement, Simon Ward, Incanthera's CEO
said:
"Incanthera welcomes the completion of the subscription
agreement by ImmuPharma and acknowledges their continued support
and belief of the potential within our company and our
pipeline.
Similarly, I welcome the commitment of my fellow directors and
management for their decisions to subscribe alongside our Chairman,
for additional shares, which underlines their dedication to the
future success of the company for the benefit of both patients and
shareholders."
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014 ("MAR").
The directors of the Company take responsibility for this
announcement.
For further enquiries:
Incanthera plc
www.incanthera.com
Tim McCarthy, Chairman
tim.mccarthy@incanthera.com
Simon Ward, Chief Executive Officer
simon.ward@incanthera.com +44 (0) 7831 675747
Suzanne Brocks, Head of Communications +44 (0) 7747 625506
suzanne.brocks@incanthera.com +44 (0) 7776 234600
AQSE Corporate Adviser:
Cairn Financial Advisers LLP
Jo Turner/James Lewis +44 (0) 20 7213 0880
Broker:
Stanford Capital Partners Ltd
Patrick Claridge/John Howes/Bob Pountney +44 (0) 20 3815 8880
Notes to Editors:
About Incanthera plc
Incanthera is a specialist oncology company focused on
transforming cancer treatment by creating environments in which
cancer cannot survive. It seeks to identify and develop innovative
solutions to current clinical, commercially relevant unmet needs,
utilising new technology from leading academic institutions.
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 originated from the Institute of Cancer Therapeutics
("ICT") at the University of Bradford and has acquired and
developed a portfolio of specific cancer-targeting therapeutics
through a Pipeline Agreement with the ICT and other corporate
acquisitions.
Incanthera's strategy is to develop each candidate in the
portfolio from initial acquisition or discovery to securing its
future through commercially valuable partnerships at the earliest
opportunity in its development pathway.
For more information on the Company please visit:
www.incanthera.com
About ImmuPharma PLC
ImmuPharma PLC (LSE AIM: IMM - Euronext Growth: ALIMM) is a
specialty biopharmaceutical company that discovers and develops
peptide-based therapeutics. The Company's portfolio includes novel
peptide therapeutics for autoimmune diseases, anti-infectives,
metabolic diseases and cancer.
The lead program, Lupuzor(TM), is a first-in class autophagy
immunomodulator which is in Phase III for the treatment of systemic
lupus erythematosus (lupus / SLE). Lupus is an autoimmune disease
which if left untreated can be fatal. Preclinical analysis suggests
therapeutic activity for many other autoimmune diseases that share
the same autophagy mechanism of action. ImmuPharma and Avion
Pharmaceuticals signed on 28 November 2019, an exclusive licence
and development agreement and trademark agreement for Lupuzor(TM)
to fund a new international Phase III trial for Lupuzor(TM) and
commercialise in the US.
For additional information about ImmuPharma please visit
www.immupharma.co.uk.
ImmuPharma's LEI (Legal Entity Identifier) code:
213800VZKGHXC7VUS895.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities/ person closely associated
with them.
1. Details of the person discharging managerial responsibilities/person
closely associated
a)
Name 1. Tim McCarthy Chairman
2. Simon Ward CEO
3. Suzanne Brocks PDMR
4. Pawel Zolnierczyk PDMR
5. Alan Warrander Non-Executive Director
------------------------------- ------------------------------------------------------
2. Reason for the notification
---------------------------------------------------------------------------------------
a) Position/status As above
------------------------------- ------------------------------------------------------
b) Initial notification/Amendment Initial Notification
------------------------------- ------------------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------------------
a) Name Incanthera plc
------------------------------- ------------------------------------------------------
b) LEI 2138002HEV4UFBOEXQ97
------------------------------- ------------------------------------------------------
4. Details of the transaction(s): section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii)
each date; and (iv) each place where transactions have been
conducted
---------------------------------------------------------------------------------------
a) Description of the financial Options
instrument
------------------------------- ------------------------------------------------------
b) Identification code GB00BGL7YW15
------------------------------- ------------------------------------------------------
c) Nature of the transactions Subscriptions by directors and PDMRS
------------------------------- ------------------------------------------------------
d) Price(s) and volume(s) Volume Price
1. 315,790 9.5p
------
2. 484,209 9.5p
------
3. 210,527 9.5p
------
4. 21,053 9.5p
------
5. 21,053 9.5p
------
------------------------------- ------------------------------------------------------
e) Aggregated information Volume Price
- Aggregated volume 1,052,632 9.5p
- Price ------
------------------------------- ------------------------------------------------------
f) Date of the transactions 28 September 2020
------------------------------- ------------------------------------------------------
f) Place of the transactions AQSE Growth Market, UK
------------------------------- ------------------------------------------------------
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END
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