10 June
2024
Incanthera
plc
("Incanthera" the
"Company")
Appointment of Non-Executive
Director
Admission to Apex segment of
the AQSE Growth Market
Incanthera plc (AQSE: INC), the
specialist company focused on innovative technologies in oncology
and dermatology, is pleased to announce the appointment of John
Howes as an Independent Non-executive Director with immediate
effect and, that following this appointment, the Company's shares
will commence trading on the Apex segment of the AQSE Growth
Market.
Director Appointment
With more than 43 years in the UK
equity capital markets and an established reputation in the small
and mid-cap sectors, Mr Howes brings a wealth of knowledge and
institutional relationship experience and contacts, holding
previous positions as Partner with Matrix Corporate Capital and
senior positions at Seymour Pierce, Panmure Gordon, Northland
Capital and Stanford Capital.
The Board believes Mr Howes'
experience and skillset will be an invaluable asset to the company
as it continues to increase its institutional shareholder base and,
as it prepares to launch its skincare range Skin + CELL with
Marionnaud, part of AS Watsons, the world's largest health, beauty
and lifestyle
retailer.
Save as set out below, there is no
further information to disclosure regarding Mr Howes
pursuant to Rule 4.9 of the AQSE Growth Market
Access Rulebook.
Mr John Michael George Howes (aged 68) has held the following current and former
directorships in the past five years:
|
Current Directorships / Partnerships
|
Former Directorships Partnerships in the past five
years
|
|
|
Matrix Corporate Capital
LLP
|
Caundle Capital Partners
Ltd
|
|
|
|
| |
Mr Howes was appointed as a member
of Matrix Corporate Capital LLP on 1 January 2009 and resigned in
January 2011. On 17 January 2013 the company entered into a
Creditor's Voluntary Liquidation and a liquidator was appointed,
however, due to an administrative error, Mr Howes remained listed
as an active member on the register of members.
Mr Howes does not hold any shares,
or options over new ordinary shares, in the Company.
Admission to Apex
As a result of appointing Mr Howes
as a Director, the Company is pleased to announce that trading in
its ordinary shares will move to the Apex segment of the Aquis
Stock Exchange ("AQSE") Growth Market with effect from 10 June
2024, subject to the eligibility criteria being met on that
date.
The Apex segment is reserved for
larger, more established businesses with a proven growth strategy
and which meet high standards of corporate governance. The
Apex segment has stricter eligibility criteria than the Access
segment which include, inter alia, having:
·
a minimum market capitalisation of £10
million;
·
at least 25% of shares in public hands;
·
a minimum of two Independent Non-executive
directors;
·
a minimum of two market makers;
·
a two-year consolidated trading history;
and
·
maintaining compliance with the QCA Code or the
FRC's UK Corporate Governance Code.
These enhanced criteria encourage greater liquidity within the top tier of
the AQSE Growth Market.
Commenting on the anticipated
admission of the Company's shares to the Apex segment and the
appointment of John Howes, Chairman, Tim McCarthy,
said:
"We are delighted to qualify for the top tier of trading on
the Aquis Stock Exchange Growth Market.
"This move to the Apex segment is recognition of the
commitment of the team to evolve Incanthera into a commercial
player on a global stage with the vast opportunities and publicity
that brings.
"The commercial ambitions set out at our flotation in 2020 are
driven and incentivised by the promise we made to shareholders,
whose belief and loyalty across our many long-standing
shareholders, more recent holders and our increasing institutional
base, particularly in the recent fundraising and warrant exercises,
have bought further investment and growth capacity into the
Company.
"The move to Apex will provide even further visibility for
investors, and we welcome the increased emphasis on transparency
liquidity and corporate governance which aligns entirely with our
own corporate promise.
"Aquis Exchange has offered tremendous support to Incanthera
since our flotation and continues to be proactive in their
encouragement and initiatives in promoting our corporate
progress. As an Exchange they have championed growth stocks
and a new approach, supported by European investment and incentives
to spotlight the enormous potential in UK small cap stocks. We look
forward to all that the Apex segment can offer to our institutional
and retail investors.
"We are also delighted to announce the appointment of
John as a Non-executive Director and we all very warmly welcome
John to the Incanthera Board.
"John is well known to the Incanthera team, having been
previously in an external advisory capacity to the Company for many
years including at the time of our flotation on Aquis Stock
Exchange in 2020."
Alasdair Haynes, CEO, Aquis
Exchange PLC commented:
"We are delighted to see Incanthera move up to the Apex
segment of the AQSE Growth Market. It's been fantastic to follow
the company's progression so far, and I am proud that Aquis can
offer a tailored experience for growth companies that allows for
increased exposure to investors at appropriate
stages."
John Howes, Non-Executive
Director, said:
"I
am delighted to be joining the Board of Incanthera and to be able
to share my experience as an investment professional and adviser to
such an innovative company. Incanthera is at a very exciting stage
of its development and I look forward to working with a great team
and helping to take the Company forward."
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).
The
Directors of the Company take responsibility for this
announcement.
For further information please
contact:
Notes to Editors
About Incanthera plc
Incanthera is a specialist company
focused on innovative technologies in dermatology and
oncology. It seeks to identify and develop innovative solutions to
current clinical, commercially relevant unmet needs, utilising new
technology from leading specialists and academic institutions as
well as its in-house development team.
The Company originated from
the Institute of Cancer Therapeutics ("ICT") at
the University of Bradford. Incanthera's strategy
is to develop each candidate in its 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
@incantheraplc