Further re: Director's Dealing

Incanthera PLC

20 July 2023

 

 

20 July 2023

Incanthera plc

("Incanthera" or the "Company")

Further re: Director's Dealing

On 13 March 2023, the Company announced that Dr. Simon Ward (CEO of the Company) invested approximately £115,000 by way of a subscription for 1,654,677 new ordinary shares at an issue price of 6.95 pence per share (the "Investment Shares").  The Company subsequently announced, on 30 March 2023, that, as a result of administrative reasons on the part of Dr. Ward's pension provider's platform, the investment was delayed and the admission of the Investment Shares postponed until such time as the funds are received.

The Company advises that Dr. Ward has, as a consequence, changed his pension provider and sought to subscribe for the Investment Shares.  However, due to ongoing administrative restrictions on the quantum of the investment Dr. Ward is able to make from his SIPP, he remains unable to invest the intended amount. He has, therefore, invested from his SIPP, £25,020 by way of a subscription for 360,000 new ordinary shares at a price of 6.95 pence per share ("Subscription") and has provided an unsecured loan of £32,000 pursuant to the unsecured financing facility ("Directors' Loan Facility") made available to the Company by Directors Dr. Simon Ward and Tim McCarthy on 24 August 2022. Notwithstanding Dr. Ward's restriction on investing through his pension fund, the Directors have and will continue to provide financial support to the Company.

The subscription for the 360,000 Investment Shares and the provision of the £32,000 pursuant to the Directors' Loan Facility by Dr. Simon Ward each constitutes a related party transaction pursuant to Rule 4.6 of the AQSE Growth Market Access Rulebook ("the Transactions"). The Directors of the Company independent of the Transactions confirm that, having exercised reasonable care, skill and diligence, the related party transactions are fair and reasonable insofar as the shareholders of Incanthera are concerned.

As a result of the Subscription funds being received, application for admission of 360,000 new ordinary shares ("Subscription Shares") to the AQSE Growth market ("Admission") has been made and is expected to occur on or around 08:00 a.m. on 25 July 2023. The Subscription Shares will rank pari passu with the existing ordinary shares.

Following Admission of the Subscription Shares, the Company's enlarged issued share capital will comprise 77,824,166 ordinary shares of 2 pence each. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in the interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018).

For further enquiries:

Incanthera plc:

www.incanthera.com

Tim McCarthy, Chairman [e-mail]                                                        [phone]

Simon Ward, Chief Executive Officer [e-mail]                                      [phone]     

Suzanne Brocks, Head of Communications [e-mail]                     [phone]

Aquis Exchange Corporate Adviser:

Cairn Financial Advisers LLP                                                                                                            [phone]         

Jo Turner/Ludovico Lazzaretti                                                                                                                                                          

Broker: 

Stanford Capital Partners Ltd

Patrick Claridge/Tom Price/John Howes/Bob Pountney                                                              [phone]

Notes to Editors

Incanthera is dedicated to innovative technologies in dermatology and oncology.  It seeks to identify and commercialise inspirational therapeutics combined with uniquely targeted delivery systems, for innovative solutions to clinical, commercially relevant unmet needs.

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 is currently focussed upon delivering Sol to a commercial partner.

Originating from the Institute of Cancer Therapeutics ("ICT") at the University of Bradford, the Company has acquired and developed a portfolio of specific cancer-targeting therapeutics, with a strategy to develop each candidate from initial acquisition/discovery to commercially valuable partnerships at the earliest opportunity in its development pathway.

For more information on the Company please visit: www.incanthera.com

@incantheraplc

1	Details of the persons discharging managerial responsibilities / person closely associated
a)	Name	Simon Ward
2	Reason for the notification
a)	Position/Status	CEO
b)	Initial notification/ Amendment	Amendment
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, type of instrument Identification code	Ordinary Shares GB00BGL7YW15
b)	Nature of the transaction	Acquisition of ordinary shares
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.0695 360,000
d)	Aggregated information -   Aggregated volume -      Price	360,000 £0.0695
e)	Date of transaction	19 July 2023
f)	Place of transaction	AQSE Stock Exchange, London

 

END