Immupharma PLC Extension of warrants in Incanthera plc (8432J)
August 21 2023 - 2:00AM
UK Regulatory
TIDMIMM
RNS Number : 8432J
Immupharma PLC
21 August 2023
21 August 2023
ImmuPharma PLC
("ImmuPharma" or the "Company")
Extension of Warrants in Incanthera plc
ImmuPharma PLC (LSE:IMM), the specialist drug discovery and
development company, is pleased to announce that the Company has
agreed with Incanthera plc ("Incanthera") that Warrants issued to
the Company on 26 February 2020, in conjunction with Incanthera's
IPO onto the Aquis Exchange, are extended by 12 months.
Key highlights:
-- The Company entered into a Warrant Instrument ("Warrant
Instrument") with Incanthera on 26 February 2020, whereby
Incanthera created and issued Warrants to ImmuPharma to subscribe
in cash at GBP0.095 per share, for 7,272,740 Ordinary Shares, valid
until 6 September 2023.
-- Incanthera has agreed with the Company to extend the Warrant
Instrument by 12 months to 6 September 2024.
-- All other provisions in the Warrant Instrument remain the same.
-- No consideration is being paid by ImmuPharma to obtain the extension.
ImmuPharma currently owns 9,904,319 shares in Incanthera
(representing 12.7% of its issued share capital). In addition, Tim
McCarthy, ImmuPharma's Chairman, is also the Chairman of Incanthera
and has a holding of 3,931,646 shares (5.05%).
The Board of ImmuPharma has determined to treat the extension of
the Warrants as a related party transaction. Mr McCarthy has not
been involved in the ImmuPharma Board's decision to agree to the
extension.
The Directors (excluding Mr McCarthy), having consulted with
SPARK, the Company's nominated adviser, consider that the terms of
the Warrant extension are fair and reasonable insofar as the
Company's shareholders are concerned.
This announcement contains inside information as stipulated
under the UK version of the Market Abuse Regulation no 596/2014
which is part of English law by virtue of the European (withdrawal)
Act 2018, as amended. On publication of this announcement via a
regulatory information service, this information is considered to
be in the public domain.
For further information please contact:
ImmuPharma PLC ( www.immupharma.com ) +44 (0) 207 206 2650
Tim Franklin, Chief Operating Officer
Lisa Baderoon, Head of Investor Relations + 44 (0) 7721 413496
SPARK Advisory Partners Limited (NOMAD)
Neil Baldwin +44 (0) 203 36 8 3550
Stanford Capital Partners (Joint Broker)
Patrick Claridge, John Howes, Bob Pountney +44 (0) 203 650 3650
SI Capital (Joint Broker)
Nick Emerson +44 (0) 1483 413500
Notes to Editors
About ImmuPharma PLC
ImmuPharma PLC (LSE AIM: IMM) is a specialty biopharmaceutical
company that discovers and develops peptide-based therapeutics. The
Company's portfolio includes novel peptide therapeutics for
autoimmune diseases and anti-infectives. The lead program, P140
(Lupuzor(TM)), is a first-in class autophagy immunomodulator for
the treatment of Lupus and preclinical analysis suggest therapeutic
activity for many other autoimmune diseases that share the same
autophagy mechanism of action.
For additional information about ImmuPharma please visit
www.immupharma.co.uk.
ImmuPharma's LEI (Legal Entity Identifier) code :
213800VZKGHXC7VUS895.
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END
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