REG - Immupharma PLC - Extension of warrants in Incanthera plc

ImmuPharmaAnnouncement

21/08/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230821:nRSU8432Ja&default-theme=true

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 £0.095 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 (http://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)                           +44 (0) 203 368 3550

 Neil Baldwin

 Stanford Capital Partners (Joint Broker)                          +44 (0) 203 650 3650

 Patrick Claridge, John Howes, Bob Pountney

 SI Capital (Joint Broker)                                         +44 (0) 1483 413500

 Nick Emerson

 

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™), 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
(http://www.immupharma.co.uk) .

 

 

 

ImmuPharma's LEI (Legal Entity Identifier) code : 213800VZKGHXC7VUS895.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCSFESAUEDSEDA