ImmuPharma PLC (LON:IMM – Euronext Growth: ALIMM), a specialist drug discovery and development company, noted today that further to its announcement on 17 February 2020, Incanthera plc, a specialist oncology company, has today been admitted to the NEX Exchange Growth Market (NEX: INC) and has published its Admission Document.
Following Admission to trading, ImmuPharma retains 7,272,740 ordinary shares in Incanthera, representing 11.9% of Incanthera’s enlarged issued ordinary share capital. As for all Incanthera’s major shareholders, ImmuPharma has entered a standard “lock-in” agreement for these shares, for a period up to 12 months following Admission.
ImmuPharma also has 7,272,740 warrants at an exercise price of 9.5p pence, being the price at which new shares have been issued in the Placing accompanying Incanthera’s listing.
In addition, ImmuPharma has entered into a Subscription Agreement with Incanthera. Under the Subscription Agreement, ImmuPharma has the right, at any time prior to 31 October 2020, to subscribe for 2,631,579 new Ordinary Shares in Incanthera at the Issue Price (an amount of £250,000). Should ImmuPharma not exercise their right to subscribe by 31 October 2020, Incanthera may serve notice to ImmuPharma requiring exercise within 10 business days.