Incanthera PLC - Completion of Subscription Agreements
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 £350,000 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 £250,000 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 £100,000 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 Shares

Total Holding of Ordinary Shares

Holding as % 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

 

Suzanne Brocks, Head of Communications

suzanne.brocks@incanthera.com

 

 

 

+44 (0) 7831 675747

 

 

+44 (0) 7747 625506

 

 

+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™, 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™ to fund a new international Phase III trial for Lupuzor™ 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 instrument

Options

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

-     Aggregated volume

-     Price

 

Volume

Price

1,052,632

 

9.5p

 

f)

Date of the transactions

28 September 2020

f)

Place of the transactions

AQSE Growth Market, UK

 

 

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