Completion of Subscription

Incanthera PLC

21 June 2024

 

                                                                                                                                                                         21 June 2024

                                                                                       Incanthera plc                                              

("Incanthera" the "Company")

Admission of Subscription Shares

Settlement of Subscription Funds

Incanthera plc (AQSE: INC), the specialist oncology company focused on innovative technologies in oncology and dermatology announces the admission to trading at 8am today of the new ordinary share subject to the recent subscription and the receipt of the subscription funds.

On 3 June 2024, the Company announced a placing by way of an institutional-led conditional subscription for £2.6 million.

Completion of the subscription for 17,403,681 new ordinary shares ("Subscription Shares"), representing 14.9 per cent. of the Company's enlarged issued share capital, was conditional on shareholders approving the grant of sufficient new share authorities at a general meeting. 

Following all resolutions being duly passed at a general meeting held on 20 June 2024, the Company is pleased to confirm the admission of the Subscription Shares to trading in the Apex segment of the AQSE Growth Market at 8am today.

Following admission of the Subscription Shares, the Company's issued share capital comprises 116,680,228 ordinary shares of 2 pence each.

The company is also pleased to confirm that settlement of subscription funds has occurred today in line with admission to trading.

Commenting on the Admission of Subscription Shares and settlement of funds, Chairman, Tim McCarthy said:

"Today marks a significant evolution of our shareholder register, as we welcome the admission of the new shares to trading.

Our growth story and the potential for global commercial opportunities has attracted support from respected City institutional investors, both existing shareholders and new investors into our company, raising £2.6 million. These funds are being immediately deployed into the scale up of inventory in preparation for the launch and roll out of Incanthera's Skin +CELL range, driving growth, revenues and profitability, to the benefit of all shareholders.

I welcome our new institutional investors and thank them and our existing shareholders for their support and confidence in our company at what is a uniquely exciting stage for our company, as we prepare for launch in September."

For further information please contact:

Incanthera plc www.incanthera.com Tim McCarthy, Chairman [e-mail] Simon Ward, Chief Executive Officer [e-mail] Suzanne Brocks, Head of Communications [e-mail]	[phone] [phone] [phone]
Aquis Exchange Corporate Adviser:  Cairn Financial Advisers LLP Jo Turner / Liam Murray / Ed Downes	[phone]
Broker:  Stanford Capital Partners Ltd Patrick Claridge / Bob Pountney	[phone]/51

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

 

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